Are Things A Little Bubbly In DC?

[Russell Brazil]

I am not one to say the sky is falling.  I generally feel like there are strong fundamentals to the prices in the DC market.  However I just saw this property close at $830k, which I feel was probably only a $700k property. How do my fellow Washingtonians feel about this Petworth property feel about the closing price of this property? It seems too far north and east to garner this price.  Now I never made it inside, but what I can see the only thing that sticks out to me as being out of the normal with the renovation is the tray ceiling in the living room....which is a nice feautre, but not a $130k value add. The only other properties that far north to close at prices close to that have been significantly larger...like 20% larger.

@Account Closed Ive had some discussions with you about this specific neighborhood.

http://mrislistings.mris.com/DE.asp?k=4016296X52B4&p=DE-309273001-37