I stopped by our upcoming listing at 3532 13th Street NW this afternoon and was happy to see lots of progress at the property! The hardwoods are nearly finished in the penthouse and appliances should be in place next week. I love the folding doors off the top rear porch! For more information and picture, check out the web page: http://www.rcrdc.com/3532-13th-street-nw.php
We do a lot of work on the Washington DC tenant opportunity to purchase act, which can also be referred to as the first right of refusal in the District of Columba. TOPA, as it's called, was created out of the Rental Housing Conversation and Sale Act in the early 1980's. It is designed to restrict owner rights and provide benefits to tenants. The benefits for tenants include the option to purchase as well as the ability to assign their right to purchase to a third party.
If you are considering buying a property that is tenant occupied or if you are thinking about renting your property out, you need to familiarize yourself with the Washington DC Tenant Opportunity to Purchase Act. The process can be a challenge to
A concise synopsis of the Washington DC real estate market
Buzz Around The Office
Spring has come early to the Washington DC real estate Market! Buyers are out in big numbers as inventory continues to be an issue. There are 25 percent fewer homes to choose from this March compared to last year and well-priced listings are often seeing multiple offers. Strong demand is undoubtedly exerting upward pressure on home prices here in the Nation's Capital.
Rent on apartments has continued a steady climb in recent years while interest rates have remained close to historic lows. As a result, many residents have found owning makes a lot more financial sense than renting and they're now looking to buy. The supply squeeze is also affecting small to mid-size
Here is the weekly list of properties that I think are worth buying in Washington DC.
816 13th St NE, Washington, DC 20002
List Price: $360,000
This is a short sale in the H Street area of Northeast DC. The market is on fire in this area and its hard to find anything under $400K. This property is overpriced but could make a great investment due to it being a 2 unit. This home is on the corner of 13th St NE and Wylie St NE. Just a half block off of H St NE. H Street has been totally rejuvenated in the last year with lots of bars and restaurants setting up shop. This property was under contract but is now back on the market.
1351 Taylor St NW, Washington, DC 20011
List Price: $499,000
New Rock Creek Realty listing. Just listed by Nate
Anchored by the Washington DC Convention Center, Mount Vernon is a neighborhood in transition. As the area continues to evolve many existing row houses are being converted to condos while prices in existing projects continues to rise. The sprawling row house at 428 M Street NW is currently being converted to four luxury condos with development expected in "Fall of 2012."
In the past 12 months, prices in Mount Vernon have caught up with more expensive projects to the South in Chinatown. The Sonata Condos at 301 Massachusetts Ave NW serves as an informal gateway to Mount Vernon. Another development in the neighborhood that has seen a stready rise in values demand is the condos at Ten Ten Mass. A third project at City Vista Condos has also seen strong
This months CR was all about saving money at the grocery store.
1. The only company that makes a BPA-Free water carafe is the ZeroWater company. The ZeroWater 10-Cup Pitcher is free of bisphenol A according to their website.
2. Dunkin' Donuts has the best bagels according to CR Ratings(Tested plain bagels). The top 3 are Dunkin' Donuts, Lender's Original, and Kirckland Signature(Costo).
3. You can now buy devices to keep track of your pet using GPS. They cost about $200. They even have an upgrade for keeping track of kids.
4. Wegmans received the #1 rating out of 52 stores that CR took surveys on. Trader Joe's was number 2. Harris Teeter was in the top 10. Giant was in the middle of the pack. Safeway was in the bottom third.
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