Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is the Principal Broker (DC) for Urban Pace, LLC. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.
Featured Property: 1731 20th St NW #9
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Dupont
Original List Price: $289,000.
List Price at Contract: $289,000.
List Date: 02/11/2011
Days on Market: 5
Settled Sales Price: $289,000.
Settlement Date: 03/30/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Since purchasing in a cooperative is not technically buying real estate, but rather buying a share in a corporation, co-op loans are an animal unto themselves. There are a small hand full of lenders who will do them. Because the financial health of the cooperative is tied together, co-ops often have their own rules regarding a minimum down payment.
Original Good Deal or Not post is: here
The listing can be seen: here. To see pics, open the listing link, click on the listing then scroll through from the main pic.
Buildings that are cooperatively owned are plentiful in DC, so I think it is useful to take a look at them here from time to time. I had profiled this same building in October 2010 and wrote some information about what makes a co-op different from a condo.
Continues after the jump. (more…)
