Eckington

In real life, hipchickindc is actually the not-so-hip Suzanne Des Marais, an associate broker with Urban Pace. Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, Suzanne is currently Chair of the DC Public Policy Committee for the Greater Capital Area Association of REALTORS® and is President Elect of the Washington, DC Association of REALTORS®. 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: 38 Rhode Island Ave NE

Original List Price: $450,000.

List Price at Contract: $450,000.

List Date: 04/15/2010

Days on Market: 5

Settled Sales Price: $495,000.

Settlement Date: 05/18/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN is: here.

Listing is: here.

Despite being located on busy Rhode Island Avenue, this fully renovated Victorian with three levels above grade went under contract in less than a week. Listed about two weeks prior to the end of the Federal Home Buyer Tax Credit contract deadline, it sold for nearly $50,000. above list price. Granted, it is a lot of house for under $500,000., even with an unfinished basement and no off street parking.

Continues after the jump. (more…)

This home is located at 38 Rhode Island Ave, NE:

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The flier says:

“True luxury living at the home of well known designer! A gem of a house and a steal at this price! Features include electronic entry system, surround sound speakers in every room, high ceilings, gourmet kitchen, two luxurious bathrooms, two fireplaces, exposed brick, views of Capitol & Monument, recessed lighting. Within steps of Metro, dining, shopping & nightlife.”

You can find more info here and a virtual tour here.

I normally don’t like to show houses already under contract but I decided to show this one because it was a reader request and it’s an area of DC that I don’t normally show. So firstly, what neighborhood is this exactly – Edgewood, Eckington? I think Redfin lists Brookland, which can’t be right…

Anyway, the house looks pretty amazing. Since it went under contract so quickly was $450,000 a ridiculously good deal?

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1835 North Capitol St NE

Original List Price: $450,000.

List Price at Contract: $430,000.

List Date: 11/14/2009

Days on Market: 57

Settled Sales Price: $399,000.

Settlement Date: 2/12/2010

Seller Subsidy: $4000.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here.

Commenters to the original Good Deal or Not (GDoN) post were quite vocal in their objections to the busy, busy street that is North Capitol. I live a block off of North Cap on the Bloomingdale side, so I know first hand how active it is during commuting hours. Historically, prices for comparable sales located on North Capitol reflect this concession. Similar homes on east-west streets, even very close to North Capitol typically sell quite a bit higher. North Capitol also serves as a physical boundary between Bloomingdale and the NE side of Eckington. Again, very similar houses within a short distance of each other can show a significant price differential with homes on the NE side selling for less than their NW counterparts.

With all that said, I actually think that the net sales price of $395,000. was a good deal. Given that I live in and do much of my business in Bloomingdale, I often have buyer clients who specifically want to purchase a bay front brick Victorian rowhome. As prices have steadily risen in the neighborhood over the past several years, it can be a challenge for first time homebuyers to find this type of property in their price range. Over the years, I have had numerous buyers willing to live on a busy street or to make some other compromise in order to buy the kind of home that they really want at a price that they can afford. Continues after the jump. (more…)