January 2013 RSS Feed

Luxury homes in Foggy Bottom area, once a blue collar neighborhood, are some of the more expensive properties in the District. Foggy Bottom is anchored by George Washington University and sits on the eastern edge of the Potomac River, just south of upscale Georgetown.

Luxury home listings in Foggy Bottom include a good deal of condos. The Columbia Residences on L Street at 24th Street are among the many condo buildings that offer luxury living in Foggy Bottom, boasting a pool, exercise room and community center. A 2 bedroom penthouse condo there was recently listed for $1.2 million and included a private terrace, wet bar and marble tub.

Renters can also enjoy luxury living in Foggy Bottom. Luxury apartment homes in Foggy Bottom include the 925…

Housing price growth in the DC Metro region reached a double-digit percentage increase in December 2012 compared with a year prior, though month-to-month price trends declined a bit, according to data from Real Estate Business Intelligence.

In December 2012, the median housing price of a sold home was $359,000, up 10.5% from December 2011, but down 3.0% from November 2012, when the average median sales housing price in D.C. Metro was $370,000. The number of homes sold in D.C. Metro in December – 3,323 units – also increased year-over-year by 4.9% but declined 6.6% from November.

The housing price growth in D.C. Metro included all housing types: the median price rose 12.9% year-over year for a single-family home, 10.4%for a condo and 8.3% for a…

Park Morton development in Columbia Heights, per the Park Morton Redevelopment Initiative Plan approved in 2008, includes projects from developers Park Morton Development Partners, Landex Development and the Warrenton Group.

The $170 million Park Morton development in Columbia Heights project, which first broke ground in 2010, includes more than 500 residential units, 40,000-square-feet of retail, a 10,000-square-foot park and a 4,000-square-foot community center, according to the D.C. Planning and Economic Development Department. More than 200 of the residential units in Park Morton development in Columbia Heights are affordable housing, as one of the primary goals of the initiative is to beef up D.C.’s affordable housing stock through integrating…

DC foreclosures have almost come to a halt due to the Saving DC Homes from Foreclosure provision passed by the DC City Council back in November 2010. The 41-page bill requires lenders to provide a four-month mediation period to homeowners at risk for foreclosure, as well as file copies of notices with the DC Department of Insurance, Securities and Banking. Before this law, some foreclosures happened in as little as 30 days.

Borrowers can elect to participate in the in-person mediation, but lenders are required to do so. The mediation period allows delinquent borrowers to discuss payment options in order to avoid foreclosure. These options could include renegotiation of the loan terms, loan modifications, refinancing, a short sale, deed in lieu of…

The tax abatement program in DC helps lower income residents purchase a home by eliminating transfer, recordation, and property taxes. Homeownership is part of the American Dream for many, and these tax incentives help more people achieve it for themselves.

In order to qualify for tax abatement in DC, the value of the property purchased must be less than $367,200, and the owner must occupy the property as his principle residence. In addition, there are income limits depending on the number of people in your household. For a person living alone, the maximum allowable gross income (including all jobs, Social Security income, public assistance, retirement pay, unemployment compensation, military housing allowance, etc.) is $56,100. For a family of four,…

The D.C. $5,000 first time homebuyer tax credit was not renewed for 2012 tax year, meaning new homeowners debating whether to buy this year lost that incentive to purchase a home. However, this year’s low interest rate climate still offers new homebuyers the same encouraging mortgage environment as established homeowners looking for a new purchase.

The D.C. $5,000 First Time Homebuyer Tax Credit has been offered to D.C. residents for the past 15 years to help make home buying more affordable. But this year, the D.C. $5,000 First Time Homebuyer Tax Credit was not included in the American Taxpayer Relief Act that President Obama signed recently. The credit began in 1997 and had been renewed each year since. But now, anyone who purchased their homes in…

The Washington DC real estate market statistics for December 2012 have been released by MRIS.  The statistics show that the Washington DC real estate market continues to be a sellers market.  The lack of inventory remains a serious concern for the overall health of the market.  The DC market has never seen supply levels so low.  The active listings in December were down almost 40% from the previous year.  The low inventory levels are pushing prices up.  In December the median sold price was up 9.9% from the previous year.  The average days on market in DC for December was 58 days.

Washington D.C. was the most popular places to move in 2012, according to a migration study conducted by United Van Lines LLC, a St. Louis-based moving company.

It’s the fifth year in a row that Washington D.C. has been the most popular place to move in the annual study. This year, following D.C., Oregon, Nevada, North Carolina and South Carolina were the most popular places to move in that order. The study is based on all the moves going into and out of states and the District. Those with 55% or more moves in, like the District, are dubbed “high inbound.”

D.C. may be the nation’s most popular place to move because of its strong economy and healthier employment rate, United Van Lines suggests.  The District’s unemployment rate ticked up recently, but…

5006 5TH ST NW, WASHINGTON, DC 20011

List Price: $324,900

This is an attached row home in the Petworth neighborhood.  The home is near the corner of Farragut St NW and 5th St NW.  Great price for the square foot.  Parking pad in rear with small yard.  Needs work.  Investors or homeowner looking to renovate would be ideal buyers for this property. 

2115 3RD ST NE, WASHINGTON, DC 20002

List Price: $299,000

This 1,917 square foot home in Eckington is reasonably priced.  The home is occupied by a tenant but listings says tenant is cooperative.  This is an affordable price for DC now.  Buy and hold or by and move in. 

4019 SOUTH DAKOTA AVE NE, WASHINGTON, DC 20018

List Price: $239,900

This is a great price for a foreclosure in Northeast DC. …

Condos near U Street Metro Station are attracting more and more younger professionals as the Northwest District area undergoes a revitalization with new development.

Former home to Duke Ellington, the U Street Corridor is a community rich in African American history, although now the area is becoming more diverse. Condos near U Street Metro include the 2020 Lofts, an eight-story building built in 2005 with at least one 2BR, 2BA condo on the market for $849,900. That 1,257-square-foot condo boasts a private wrap-around balcony and hot tub among other amenities. 2020 Lofts condos are just one block from the U Street Metro Station.

Other condos listed near U Street Metro Station include another 2BR condo at 1830 11th Street NW, which is priced at…