Generally speaking your offer will be based on a few key factors:
1) The most recent comparable sales. 2) How long the property has been on the market. 3) How much competition is out there. For example: Are there multiple offers? Has the seller received a previous offer that wouldn't work for them? 4) Terms: It's not always just about price! If you can work with the seller on terms such as the closing date, the inspection, a potential rent back etc you may have extra leverage.
If you're a buyer looking to make your offer more attractive without offering more money, you'll need to adjust your terms. Remember, it's not just the offer price that may sway the seller in your direction; well crafted terms may make the difference between losing out on an
1603 Isherwood St NE #202, Washington, DC 20002 | List Price: $199,000 Very affordable price for a top floor 2 bedroom condo on Capitol Hill. This unit is about 640 sq ft and the condo fee's are very low($125/mo). Laundry in the unit. Short distance to metro and H Street.
1248 Fairmont St NW, Washington, DC 20009 | List Price: $955,000 Great condo development potential here in Columbia Heights. This end unit Victorian is currently set up as a 6 bedroom with 3.5 bathrooms. The total sq ft on this property is 3540. Zoned for multiple units and is on a .12 acre.
61 Underwood St NW, Washington, DC 20012 | List Price: $235,000 Most affordable fee simple(non-condo) property on the market in Northwest Washington DC. These semi-detached homes are small
Way overpriced short sale in 16th Street Heights. Needs full renovation. Big issue is no backyard. Has potential rental/second unit in basement. Close to Petworth area. Dog park is just down the street. Need to buy at a much lower price to make this deal make sense.
4915 Illinois Ave NW, Washington, DC 20011
List Price: $350,000
Another overpriced property. This one is in Petworth. Estate sale. Good sq ft(2280). Needs a full renovation. Purchase price needs to be in the mid $200's to make this work. After repair value is in the low $500's.
819 Farragut St NW, Washington, DC 20011
List Price: $299,900
Will get multiple offers. Low priced for a home that you can move
Tubman Elementary School looks like the place to be today! I was walking our dog in Columbia Heights this morning and it was pretty hard to miss the enourmous inflatable fun house setup on the soccer field! I wish my elementary school did this kind of stuff when I was a kid. The school has also recently played host to the Obamas when US First Lady Michelle Obama visited the school as part of her Let's Move Campaign to fight childhood obesity. Tubman's soccer field is also a frequent site for pickup soccer games when the field is not being used for organized sports. The games are quick: first to score or ten minutes max. Organized sports leagues like District Sports and DC Bocce League also make use of the space.
Five Things I Learned From Reading the July Consumer Reports
This month’s issue focused on making your home feel more luxurious for less.
1. CR surveyed thousands of readers on hotels. The top rated hotels were Ritz Carlton(Luxury), Residence Inn by Marriot(Upscale), Wingate by Wyndham(Moderate), and Microtel(Budget).
2. The top three places to buy major appliances in order are Abt Electronics, Independent stores, and Lowe’s. The top three for buying small appliances in order are Amazon, Independent stores, and Costco.
3. CR does not recommend buying extended warranties for appliances.
4. Quartz and Granite are best for countertops.
5. The best ways to save gas are to slow down and drive between 55-65 MPH, check gas prices on a site
Petworth is on fire right now. Buy this and flip it. Sell for $500-600K.
1420 Crittenden St NW, Washington, DC 20011
List Price: $549,990
This is in 16th Street Heights. The price is way too high. I think I have posted this on the blog 3 or 4 times now. This seller needs a reality check. A cash offer with quick close in the low $400's is what it will probably take to get this one. Renovated it would sell in mid $600's.
3314 New Hampshire Ave NW, Washington, DC 20010
List Price: $345,000
Wells Fargo really underpriced this property. It is available for owner occupants only. It will get multiple offers. This
Compass is a licensed real estate brokerage that abides by Equal Housing Opportunity laws. Information is compiled from sources deemed reliable but is not guaranteed. All measurements and square footages are approximate. This is not intended to solicit property already listed. Compass is licensed as Compass Real Estate in DC and as Compass in Virginia and Maryland. 1313 14th Street NW, Washington, DC 20005 | 202.386.6330