The Deal of the Year: The Beautiful Foreclosure
146 U Street NW
Deal of the Week is one of our more popular features here at UrbanTurf, and also one that arouses the most debate for the fairly obvious reason that a deal to one person is not necessarily a bargain to someone else. For this reason, picking a Deal of the Year is not the easiest of tasks.
And usually, UrbanTurf’s top bargain of the year comes from one of the many Deal of the Weeks that we have featured in the past 12 months. This year, however, a foreclosure that garnered our attention back in late September for This Week’s Find stood out from the competition.
Living Room
The term “foreclosure” usually conjures up images of distressed buildings that are lucky to find a buyer. So when UrbanTurf saw this bank-owned home in LeDroit Park, we were struck. The four-bedroom row house needed some minor work, like base molding and appliances, but had been renovated extensively by a previous owner and had a new kitchen, bathroom and a finished basement. At $499,000, it was priced well below comparable homes in the area.
In fact, the listing was priced so low (comps ran closer to $550,000-$600,000) that it caught the attention of some commenters. “Will be gone SO QUICK,” said one commenter. “Low ball listing attempting to spark a bidding war,” said another.
The commenters were right. The house actually ended up being not quite the deal that was advertised after all; it went under contract within a week and sold in late November for $553,146. To many, however, that would still be a bargain.
More details and photos below.
- Address: 146 U Street NW (map)
- Listing Price: $499,000
- Sales Price: $553,146
- Bedrooms: Four
- Bathrooms: 3.5
- Square Footage: 1,696
Previous Best Of 2011 entries:
- Best Real Estate Idea (If It Works): Popularise
- Best Real Estate Amenity of 2011: Bathroom Pencil Sharpener
- The Best Listing of the Year For Mere Mortals
- Best (or Worst) New Neighborhood Moniker: Silicon Hill
- Best (And Most Ridiculous) Real Estate Rumor of 2011: R. Kelly Apartment Hunting on Capitol Hill
- The Best Listing of the Year For Well-Paid Lobbyists
See other articles related to: best of 2011, deal of the week
This article originally published at https://dc.urbanturf.com/articles/blog/the_best_deal_of_the_year_the_beautiful_foreclosure/4797.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro