NW DC SQFT Deals of the Week

Ahhhhhhh – I feel much better now. I just changed the radio station away from NPR and the overwhelmingly negative stock market news to instead listen to my favorite 80s tunes on 104.7 FM “The Globe.”  Anyone with me on that?

For those of you who need a home and have managed to secure a loan, here are a few sweet deals on offer. I only looked at houses because condo fees complicate the matter of value/sqft. My picks are all low in terms of $$/sqft compared to the surrounding neighborhood but they also have other attributes that made them stand out.   

Deal#1: Chevy Chase (DC), where average price is $337/sqft

3205 Beech St NW - $729,000 REDUCED - $189/sqft- 4 beds/3 baths split level house. This house is in a very leafy neighborhood close to Rock Creek Park. It originally listed for $879,000 and has been on the markt for 6 months. Sellers are ready to MOVE IT. 

Deal#2: Georgetown, where average price is $647/sqft

3344 Prospect St NW - $1,350,000 REDUCED – $397/sqft – 4 bed/3 bath historic row house on a famous street in the heart of the west village. The house has been renovated and includes an in-law suite. It has only been on the market 15 days, originally at $1,449,000. It looks like the sellers are reading things correctly and don’t want it to sit for months.

Deal#3: Columbia Heights, where average price is $277/sqft

517 Rock Creek Church Rd NW - $595,000 – $189/sqft – 4 bed/2 bath Spanish-style semi-detached house. This is a very pretty, restored home that was built in 1905. It has lots of wood trim, new appliances and a full in-law suite. The sellers say they will look at all offers. It has been on the market for a month.

>Find open houses in NW DC this weekend 
>Find open condos in NW DC this weekend

Related post:
>Don’t Make an Offer Yet

Cheers,
Allison

Photo: Mad African/Pineappler under Creative Commons license

Posh Not Selling in Kalorama / Fixer-Upper Will Sell

They say that if you have a lot of money then a down market can be the best time to buy. Well, maybe that will get wealthy Kalorama moving soon – because it ain’t moving quickly now! On a single block of Wyoming Ave NW there are four properties for sale.

The latest is this federal-style row house at 2128 Wyoming Avenue NW. It has 4 bedrooms, 3.5 baths, and all-important parking. The interior photos looks okay but the decor does not appear updated. It is listed at $2,150,000 and will be open on Sunday, Oct. 12 from 1-4 pm. 

Best of luck to this seller, who is not the only one to put a house on the market in the last two weeks. Interesting timing. I wonder if any Kalorama mortgages will be bought out and renegotiated under the proposal McCain made in the debate on Tuesday night?

Kalorama Fixer-Upper More Likely To Sell

For buyers with less money but high aspirations to live long-term in this beautiful neighborhood, here is a rare and potential major opportunity: one of the last fixer-uppers in Kalorama. It is a 7 bed/3 bath row house at 2158 California Street NW. It looks like it was abandoned once and has been awaiting renovation for some time. The list price is $850,000, which is what you could pay for a large 2-bedroom condo in this neighborhood! My mouth is watering and my imaginary self is snapping it up.   

Related posts:
>Walk this Way: Kalorama

Cheers,
Allison

Reduced Again: Coveted Hall Place in Glover Park

A lot has been written about the charms and assets of Glover Park, including by me. Well, now’s your chance to live on a little one-way street that all the neighbors know about  but only a few people can own: Hall Place NW.

The fully renovated, 4-bed/4.5 bath Victorian row house that has been for sale there for many weeks was just reduced for a second time, to $995,000.  The original price was $1,149,000.  

 
Hall Place is parallel to Wisconsin Ave NW, just a block from Whole Foods,  a string of good restaurants, Starbucks, a hardware stor and other shopping, CVS, the Guy Mason Recreation Center/Park, and more. In other words, it is a highly convenient place to live even though it is a quiet street with a very residential feel. And that’s just the beginning. Everything green and park-like about Glover Park can be found starting a couple of blocks the other way. For families, Stoddert Elementary School and Hardy Middle School are also within walking distance. 

Another nearby price reduction that stood out today is a 2 bed/2.5 bath condo in the new-ish luxury residence at 2501 Wisconsin Ave NW, #403. You know the building … it is pictured below. It overlooks the intersection of Wisconsin and Calvert, above Guy Mason park and leading you towards the good old Veep’s house on Observatory Circle.  

The price has now been slashed by $200,000 to $1,049,000. Too bad there are not many interior pictures on the listing. I wonder if they would be as breathtaking as the original price plus the $773/mth condo fee?

In the same zip but moving south-east to more expensive Georgetown, I noticed a sweet red brick house that was just reduced, at 1664 32nd Street NW. Now selling for $799,000, it’s a classic 2 bed/1 bath colonial row house with all the charm, style and small spaces that would satisfy a person craving this kind of home. It oozes that “old Georgetown” feeling. The location is great too - meaning not far from bus transportation and walkable amenities. 

More info:
>Reduced prices  in zip 20007 (Berkeley, Burleith, Glover Park, Georgetown, Obs. Circle, etc.)
>Current listings in zip 20007

Related Posts:
>More for your money in Glover Park

Cheers,
Allison

Embassy Row: $2 Million per Bedroom

I am still focused on price reductions and Dupont Circle this week, but today I also want to see what kind of house you can get at the high end, median and low end of the listing price spectrum. The median list price for a house right now is $1.145 million. I would guess the homes shown below on beautiful 19th St NW are valued at more than that … I just love this photo.

Check out the “recently reduced” property selling for $15,900,000 on Embassy Row. Yes, that’s right, it’s not a typo. The address is 1714 Massachussets Ave NW. You’ll need more than $2 million for each of the six luxuriously appointed bedrooms. But that’s a bargain compared to the original $17 million price tag. I wonder if the furniture is included?! 

Not Quite as High End:  With neighbors like those on ”Mass” Avenue, it doesn’t seem outrageous to spend $1.55 million on an 8 bed/3.5 bath row house at 1926 17th Street NW. This wonderful Victorian was built in 1907 and has been fully renovated, including the brick patio out back. It has been on the market for 22 days and was reduced in price this week from $1.69 million. My guess is that it will not last long.

Closer to the Median:

You can get a 4-bed/2.5 bath colonial row house at 1313 22nd St NW, south of the Circle. The price was reduced last week by over $100,000, to $1,095,000. It has been renovated. It also has 2 parking spots!!!!  

At the Lower End:

There is a tidy 3 bed/1.5 bath federal row house closer to Adams Morgan at 1650 Florida Ave NW for $649,000. It looks cute. It has been on the market for 19 days with no price reductions yet. Open Sunday, Oct. 5, 1-4 pm.

Before you make an offer, learn about price reduction trends in your target neighborhood.

More info:
> All houses for sale in Dupont Circle
> Recent sales in Dupont Circle (condos and houses) 

Cheers,
Allison

Photo: NCinDC under Creative Commons license

Fabulous Dupont Circle for Under $500/SQFT

Stop and look! I just checked out recent price reductions in Dupont Circle. Below are two that stood out.

Chosen for Style:

- A very nice 2-bed/2 bath condo at 1735 New Hampshire St NW, just reduced to $585,000, from an original of $635,000. Sellers are willing to offer closing help. It is an older building that has been renovated. The unit has high ceilings, hardwood floors, fireplace, clean decor, S/S appliances, shared patio, and more. The lobby and hallways have some grace – not like living in a Ramada Inn. The price puts it at only $488/sqft, which is lower than average (see below.) The condo fee is $387/month. 

Chosen for Space and Light:

- A 2 bed/2 bath condo at 1280 21st St NW, #207,  with a new price tag of $524,900 after only a few days on the market (down from $549,000.) I usually go for the older buildings but the spaciousness and huge windows of this 1967 corner unit would make me think twice. It has 1,200 sqft, putting it at $437/sqft. Ooops – the condo fee is $837/month, so it’s not such a bargain after all. Maybe the roof deck is lined with precious metal.

- Note, there is another, smaller 2 bed/2 bath unit for sale in this building for $475,000. It was reduced in price from the original $550,000 a couple of weeks ago. The condo fee for that one is $699/month. 

By the way …

Median Condo Values Based on Last 6 Months (source: Redfin.com) 

Word of caution: Remember to check the financial situation of any building you are buying into (especially these days!!!)  If your building gets into financial difficulty and needs more capital for maintenance, it is YOU who will pay.  

More info:
> All condos for sale in Dupont Circle
> Dupont Circle Stats & Trends

Related posts:
> Dupont Sells Bloomingdale Swells?
> $50,000 Parking Spot

Cheers,
Allison

Photo by Voteprime, Creative Commons License

Finding Culture in DC (and Around DC)

I am tired of hearing people say NY is so much better than DC. These two cities are completely different animals.

Maybe they say it because they never leave their living rooms. Or maybe they are still thinking of the DC of twenty years ago. So, today I am ripping off an idea from WAMU’s Kojo Naamdi show to tell you about a new Web site — www.culturecapital.com. It is great for anyone who is interested in discovering DC and its surroundings (p.s. I also think Kojo is a great resource for learning about all aspects of this city.)

If you come from anywhere other than NY, then you should know that we are very lucky here. There is SO MUCH going on but it is often under the radar and not in your face. We have local, national and international offerings, and plenty of these things are for free. Cultural outings are fun, but they also a great way to discover new places and new faces, right in your home town. You may be suprised at what you find.

The new site is sponsored by the Cultural Alliance of Greater Washington. This is how they describe it: 

“Introduced in June 2008, CultureCapital.com connects people to the heart of the thriving arts and culture community in the Greater Washington, D.C. region. This virtual arts marketplace provides comprehensive information and reliable ticket-purchase options for shows, performances, classes and exhibitions offered by more than 300 regional arts organizations and cultural institutions, making it the region’s richest and most diverse collection of arts and culture activities. CultureCapital.com strives to be inclusive and includes big names and small groups alike, giving users access to all the hot hits and hidden jewels the D.C. region has to offer.”

So, check it out and try something new. Drive through a few unfamiliar neighborhoods on your way. If you’re reading Sweet Digs, then I know you’ll probably get a kick out of that like I do. 

Cheers,
Allison

Photo: Takomabibelot

What’d It Go For? AU Park

Here’s a nosy neighbor special: some recent sold prices for American University Park homes (contracts closed.) I would bet that the square footage figures do not include finished basements or attics. All data comes from DC public records.

You can see a full list of recent sales in AU Park, or any other neighborhood, using Redfin’s neighborhood pages. This kind of comparative info is great for both buyers and sellers. Pick your market and track it over several months so that you’re well informed when it comes to laying money on the table.  

4240 Alton Pl NW – 3 bed/2 bath – 1,294 sqft.
Sold for $735,000 on Sept. 8/08.

4615 Ellicott St NW – 4 bed/3 bath - 2,061 sqft.
Sold for $835,000 on Sept 8/08.
 

4401 Windom Pl NW – 3 bed/3 bath – 1,337 sqft.
Sold for $868,999 on Sept 5/08.

4535 47th St NW – 3 bed/3 bath – 1,844 sqft.
Sold for $865,000 on Sept. 3/08.

4922 Albemarle St NW – 3 bed/3 bath – 1,700 sqft.
Sold for $626,000  on Sept. 3/08.

>See all recent sales in AU Park.
>See all listed properties in AU Park/Tenleytown/Friendship.
>ind open houses scheduled in this area.

Related Posts:
No Arsenic in Turtle Park
Suprising Huge Yard (by the way, this sold for $1,099,999, lower than asking price by $50k) 

Cheers,
Allison

Don’t Make An Offer Yet

The first time I bought a house, I wrote my offer by hand on a piece of foolscap paper, during the open house. My husband and I offered what was asked, no questions asked. The seller actually accepted it … I think because she had a crush on my husband.

That was ten years ago. These days, before you make any offer on a house or condo, I urge you to take a look at the local neighborhood trend information — and particularly the price reduction charts — that are available for free on www.redfin.com/washingtondc. Sellers will find this helpful too. The level of detail is incredible and it lets you see important differences between the condo and house markets. 

For example, the chart shown below is a summary for Georgetown properties sold or taken off the market in the last 90 days. It shows that one-third of all properties had at least one price reduction. But you can also see that among those properties, houses had a median of two reductions, and a total median percentage reduction of 10% off the original list price, compared to only 5.8% and one reduction for condos. This knowledge could save you thousands of dollars by helping you price your offer in the right way.

Check out a few neighborhoods and you’ll start to see the differences from one area to the next. The price reduction  stats for Columbia Heights are similar to Georgetown, for example, but if you look at Shaw you’ll see that more than 75% of condos had price reductions and 50% of houses. There are also graphs on all these pages that show exactly how many reductions all the properties had, and over what timeframe. 

Just for interest, looking at NW Washington, DC as a whole, I found that about 40% of all properties (condos and houses) had at least one price reduction. For condos, the median reduction from the original list price was 5.8%, similar to Georgetown. For houses, it was 7.5%.  

Need help for your search?

Type in the neighborhood you want using the regular Redfin search box. Then click on the “Stats & Trends” words that come up under the search box once your search listings appear. Scroll down the Neighborhood Stats & Trends page and also read the fine print of how these charts and graphs work. It is worth the 5-10 minutes you’ll spend to understand them.

You can also access the neighborhood detail pages from the bottom of any individual property listing page. Just click on the neighborhood names.

Have fun,
Allison

Size Matters: SQFT Deals in Cleveland Park, Kent, Mount Pleasant, Columbia Heights

In real estate it is hard to say what a “deal” is because buying a house is a subjective exercise. One way to look at it, however, is in the pure and cold dollars-per-square-foot aspect.

Among the open house listings today, I found a few houses where the $/sqft price was quite a bit lower than the median for the neighborhood. Two are self-declared fixer-uppers, one doesn’t specify and one is newly renovated.

Remember that most house listings in DC do not give a square foot number (the condos do.) These picks are from the houses that did list their actual size.

Mount Pleasant:

1650 Park Rd NW – $829,900 – 6 bed/3.5 bath semi-detached Victorian. This is a HUGE house built in 1907, with many period details like pocket doors and high ceilings. Over 5,000 sqft including a 2-bedroom income unit, giving it an overall very low $158/sqft. The median value for this area is about $250/sqft. Open today from 2-4.

Columbia Heights:

521 Rock Creek Church Rd NW – $629,900 REDUCED & RENOVATED - 4 bed/3.5 bath Spanish colonial semi-detached home built in 1910. This is a restored house and when I saw the pictures I actually said “Wow, neat house” aloud to myself. With over 3,400 sqft, it is only $185/sqft. The median value for this area is about $250/sqft. Open today from 1-4.

Cleveland Park:

3127 Newark St NW – $949,000 – 4 bed/2.5 bath semi-detached Victorian. This is a great property but a fixer-upper, on a famous street that normally commands very, very high prices. The listing says the house has 4,000 sqft, giving it a price of $237/sqft. The median in this neighborhood is well over $400/sqft. Built in 1900. Open today from 1-4.

Kent:

4910 Klingle St NW – $759,000 – 4 bed/3bath rambler with above-grade lower level. This fixer-upper is on a corner lot and quiet street. It has 2,800 sqft, putting it at a very low $271/sqft in an area where the median is over $500/sqft. Beat that! Open today from 1-4:30.

Cheers,
Allison

Photo: McClouds

Got Nuts? Check Your Back Yard

Here’s a fun, healthy, free and tasty way to cheer yourself up if the depressing news in the media has got you down lately.  Look for and collect nuts! ‘Tis the season. You can do it while you’re scoping neighborhoods.

Yeah, I’m serious. Tap into your hunter-gatherer genes. If you find a good tree, it’s better than an Easter egg hunt.  Why leave all the treats to the squirrels?

What kind of nuts? Chestnuts and walnuts, mainly.

Those spiky green balls you’ve seen rolling down sidewalks and parking lots are chestnuts (pictured above.) The thick green skin cracks open naturally to reveal two or three beautiful brown nuts – the kind you can roast. Just find the tree where they’re coming from and they’ll be lying on the ground waiting for you if no one has beaten you to it. Careful, the green spikes are quite sharp. 

Once you collect a nice big handful, roast them over the stove in a cast-iron skillet until they smell toasty. You’ll feel like you’re on the streets of Paris or Rome. The dark shell will crack slightly, and its OK if the outside blackens a bit. Crack them open and enjoy while warm.

You may also see bumpy, round, green balls that are about two inches across. These are walnuts.  If you crush the outside skin you’ll get to the walnut shell that we all recognize from the store. Inside that is the meat. It seems like a lot of work and I am not as familiar with how to handle them as with the chestnuts. I do know that fresh walnuts taste kind of sweet and are not at all like the bitter/older things my mother used to buy in bags for her baking. Maybe one of readers can give it a try and report back one day.

If you’re really lucky, you may find some fig or apple trees on public land too. I can think of a few in my own neighborhood but that’s a secret I won’t divulge!

Cheers,
Allison