Deal of the Week: A Bargain for the Patient Buyer

  • April 3, 2012

by UrbanTurf Staff

Deal of the Week: A Bargain for the Patient Buyer: Figure 1
20 Logan Circle NW

This installment of Deal of the Week is a well-priced two-bedroom unit right on Logan Circle that we warn readers is a property for the patient buyer. The reason for the warning is that the home is a short sale, and as UrbanTurf readers know the short sale buying process can be long and cumbersome. In this case it may be worth it, though.

Deal of the Week: A Bargain for the Patient Buyer: Figure 2
Living room

The 1,078 square-foot unit is priced at about a $40,000 discount to a comparably-sized two-bedroom that sold in the building in late 2011. The two-level condo has a fireplace in the living room and a couple of Juliet balconies, but the one downside is that there is no parking, which will be important in an area seeing seeing as much development as Logan Circle.

More details below.

Here are some monthly payment calculations based on a 20 percent down payment and a 30-year fixed rate mortgage at 4.10 percent.

  • Loan Amount: $428,000
  • Principal and Interest: $2,068
  • Condo Fees: $300/month
  • Property Taxes: $427/month
  • Total Monthly Payments: $2,795

See other articles related to: short sales, logan circle, deal of the week

This article originally published at http://dc.urbanturf.com/articles/blog/deal_of_the_week_a_bargain_for_the_patient_buyer/5364

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