Price Cutter: Second (or Third) Time is the Charm

• April 27th 2011

by UrbanTurf Staff

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In Price Cutter this week, we highlight recent price cuts at homes that have already undergone at least one price reduction.

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Rehabbed Three-Bedroom Wardman in Petworth

We originally featured this three-bedroom Petworth home in early February. Like several other properties on the market in the neighborhood, the listing was a foreclosure that was purchased last year and then extensively rehabbed. The rear of the first level now has a small sun room that looks out onto a back deck and yard, and there is a similar room on the second level with a number of windows that offers the same view. The Wardman also has a two-car garage and a backyard that looks like it could be seeded to make a nice lawn. The original asking price was reduced by $10,000 in early March, then by another $20,000 about a month ago, and then most recently, again by $10,000.

• Full Listing: 5127 5th Street NW (map)
• Original Price: $479,900
• After First Price Reduction: $469,900
• Current Price: $439,900
• Bedrooms: Three
• Bathrooms: 2.5

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Three-Bedroom Gingerbread House in Brookland

The gingerbread house in Brookland is having a little trouble selling. UrbanTurf featured this Victorian in our What $529K Buys You round-up a couple weeks ago, and then last week, the list price was reduced by $14,000. The price recently dropped again to $495,000, perhaps the sweet spot for a buyer out there looking for a home that needs some interior updates, but has a wrap-around front porch, a good-sized yard, and a very cool looking facade.

• Full Listing: 1231 Irving Street NE (map)
• Original Price: $529,000
• After First Price Reduction: $515,000
• Current Price: $495,000
• Bedrooms: Three
• Bathrooms: 2.5
• Square Footage: 1,815

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/price_cutter_second_or_third_time_is_the_charm/3397.