Bottom of the Barrel: DC Region Top Sales Under $60,000 in 2008
IT'S SO mindblogging to prices from the down under DC market (DC/MD/VA). Even my colleagues were like - O..M..G!! Noo waay! Are you serious - when I told 'em about the information. We know prices are falling fast in some hoods and slow in others. But didn't expect prices to go down that low all the way to $10k..
Well, welcome to the sub-$100k market. For one thing. There were 821 properties sold for under $100,000 in DC region last year with the lowest goes all the way to the bottom of $10,000!
From the bottom 60. Here is the list for homes sold under $60,000:
10. 3107 Good Hope Ave. Temple Hills, MD 20748. A 1 BR condo with 965 s.f. of living space which was listed for $10,000 and sold for exactly $10k. This transaction looks like a foreclosure.
9. 3107 Good Hope Ave. (in the same building as above). A 1BR condo with 980 s.f. of living space, listed for $19,900 and sold for $14,000.
8. 3107 Good Hope Ave. (another one same building). A 2BR/1Ba condo with 1,007 s.f. of living space, which was listed for $25,000 and sold for the same price with $3,500 closing assistance. Previous owner paid $50k in '04 for the place.
7. 3103 Good Hope Ave. Temple Hills, MD 20748. A 2BR/1 Ba condo with 1,038 s.f living area, listed for $35,000 and sold for $25,000!
6. 3107 Good Hope Ave. 1BR condo with 754 s.f. living space, listed for $39,900 and sold for $23,500.
5. 3107 Good Hope Ave. Temple Hills, MD. (this building seems to be the place for least expensive condo). 3BR/2 Ba condo 1,940 s.f. space, listed for $45,000 that was sold for $31,000 with $1,000 subsidy.
4. 1836 Metzerott Rd., Hyattsville, MD 20783. 1BR condo 569 s.f. supposedly upgraded, listed for $39,900. It was sold for $35,000.
3. 11970 Hilltop Dr., Manassas, VA 20112. A tiny single house (660 s.f.) listed for $39,900 and sold for the same price with $$3,888 in seller's subsidy. A steal? Maybe. Considering the county '08 assessment was for $149,000.
2. 6810 James Farmer Way, Capitol Heights, MD 20743. This is what so fun going through the remarks - just to make sure that buyers understand what they're about to see and deal.It says that, "Building description is for the prior house floor plan and may not represent the current dwelling. This is a knockdown or total rebuild as extensive work is required. County may have condemned property." Listed for $43,500 sold for $40,000.
1. 1836 Metzerott Rd., Hyattsville, MD 20783. A 1BR 750 s.f. of space, listed for $44,900. It was sold for $42,900.
REALITY CHECK
Where were most of these sales taken place? Price William is on top of the list with more than half of the listings that made it to the least expensive homes follows with Prince George's county - for properties under $60k.
Yeah, what can you get for $100,000 in some overpriced hoods like Arlington? How about a garage space for $10,000, $30,000 and some change for a garage space in DC..
There you go, DC. This is the 'reality.'
Okay, how's that for a change from the million bucks homes sales we talked about the other day..
data: MRIS
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Bottom 60 (link is only good for 30 days)
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