Best Deal of 2009: The $419,000 Three-Bedroom

• December 15, 2009
• 7 Comments

by Mark Wellborn

This week UrbanTurf is taking a look back at the best that DC’s residential real estate market had to offer in 2009. From the best deals to the best trends to, of course, the best listings, we believe we have sussed out the cream of the crop.

Deal of the Week is one of our most popular features here at UrbanTurf, so we envisioned the process of choosing the Deal of the Year as particularly difficult. To our surprise, one property quickly rose to the top of our list.

In late March, we profiled a three-bedroom condo in LeDroit Park where the price had dropped $50K in six months. We were confused by not only the price drop, but also the amount of time that the home had spent on the market. From our perspective, it was a very attractive property (1,600 square feet of space, 12’ ceilings, a roof deck and a completely renovated kitchen) at a good price.

Apparently the price was not low enough: The home sold for a rock bottom $415,000 in August, a price per square foot of $259.

Note to buyers: When you see the phrase “motivated seller” in a listing description, chances are that some serious negotiating can be done.

• Address: 2030 1st Street NW, #2
• Original Listing Price: $519,000
• Reduced Listing Price: $469,000
• Final Sale Price: $415,000
• Beds: Three
• Baths: Two
• Condo Fees: $225/month

Next Up: Best New Tech for DC Real Estate Scene

Previous Best Of 2009 entries:

• Best Record Set This Year: Mortgage Rates Hit All-Time Low
• Best Local Real Estate Idea (That Went Nowhere): Inauguration Rentals
• Best New Listing of the Year

This article originally published at http://dc.urbanturf.com/articles/blog/best_deal_of_2009_the_419000_three-bedroom/1602

7 Comments

1. S Seriouss said at 5:34 pm on Tuesday December 15, 2009:

   I think this post would have benefited from a recounting of how strangely laid out this place was.  So strange, in fact, that I think many people like myself stayed away from it.

1. SimonF said at 6:34 pm on Tuesday December 15, 2009:

   But regardless of layout, where else can you find a home this size at this price within the DC borders????

1. ginger said at 10:27 am on Wednesday December 16, 2009:

   I agree with SimonF and I saw this property. The layout was a bit funky but it was a steal!!

1. Terry Brown said at 8:00 pm on Thursday December 17, 2009:

   I don’t know how many homes the author Mark Wellborn has seen, but I am a real estate broker here in the District and I think this nomination is laughable.  I agree with the 2 other comments about the layout being odd. With a layout so strange the percentage of people that this unit would appeal to is very low.  The “lucky” new owner will find that out when it is time to resell this property.  There are many properties in the District that would qualify for deal of the year before this odd ball.  I nominate 2727 28th St. NE. for the 2010 award, goes on sale early next year in the low 300’s,  Renovated Detached brick, colonial 3BR’s 2FB, Huge DBL Lot.

1. The "lucky" new owners said at 11:31 pm on Thursday December 17, 2009:

   Thanks so much for highlighting our new home! We certainly feel as though we lucked out. The space is great, especially the kitchen, and Bloomingdale is a wonderful neighborhood!

1. Dcgi said at 12:03 am on Friday December 18, 2009:

   Do you guys really not know dc?
   It’s Bloomingdale. Not ledroit park.

1. Anon said at 9:47 am on Friday December 18, 2009:

   I think the authors need to re-evaluate their definition of a good deal.  We actually stopped by this place twice on our search and could not get past the payout (for those who have not seen it the entry floor contains the kitchen and that’s it).  It has minimal storage.  We ended up a whole 1 block away, in a actual renovated 3BR townhouse, for less money.

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