What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
The Deal of the Year: The Beautiful Foreclosure
✉️ Want to forward this article? Click here.
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 http://dc.urbanturf.production.logicbrush.com/articles/blog/the_best_deal_of_the_year_the_beautiful_foreclosure/4797.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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