August 2014 RSS Feed
317 V Street NE
1-Bedroom Condos in Mount Pleasant
Trinidad 4-Unit Properties
Trinidad is an up-and-coming Northeast neighborhood that is becoming a sought-after destination for affordable housing in the District, although that affordability may not last for long. There are several larger properties in the neighborhood that have been renovated and turned into four-unit condominium complexes. These offer much more affordable options than similar units in Northwest DC and other parts of Northeast. The completely remodeled condos offer a good option for those who want to be in a newer property and don’t need the space that comes with owning a house. Situated just north of the trendy H Street Corridor, Trinidad has had a resurgence in just the last five years. While it pales in comparison to H Street NE with retail and dining options,…
August 2014 Newsletter
August often brings a slight decline in sales activity in Washington, DC. It is a prime vacation month for area residents as they seek to escape the District for cooler climates, beaches, and mountains. Congress is also out of session which means thousands of DC residents have more leisure time to take these vacations. As such, fewer people are looking to buy than there were earlier in the summer and spring. It also means fewer listings normally appear on the market than in other warmer months of the year. However, the good news is that so far this summer there are more listings on the market than there were a year ago in Washington, DC. The challenge in 2014 is that the median sales price has gone up, and this may account for the fact that the number of…
July 2014 Newsletter
The good news is that DC is steadily becoming a more pleasant and accessible place to live. The challenge for hopeful buyers is that prices aren’t where they used to be, even a year ago. The process of urban renewal in the nation's capital has become a self-fueling engine. As more people move back to the District, it inevitably leads to increased demand for local businesses and services. The demand encourages the revitalization of commercial corridors and supports a broader base of cultural, dining, and retail options. In a basic sense, more people equals a more vibrant and eclectic city. The city's build out of the Metro and bus systems along with the wild success of the Capital Bikeshare Program has created a more accessible and useful public…
June 2014 Newsletter
Space is becoming more and more of a premium in DC, and the trends we’re seeing as spring turns into summer are certainly reflecting that. It’s a seller’s market in the District as prices continue to climb while the number of available properties have not risen to meet demand.
The biggest example of the lack of space is the spread of pop-ups throughout Washington, DC. These renovated townhouses are 40 to 65 feet in height, often rising high above the two-story houses next to them. The benefit of such properties is that it allows two or three units within a single 4-6 story structure, and uses available vertical space to its fullest. Often these pop-ups replace blighted structures or even vacant lots, helping to bring more housing stock to neighborhoods…
May 2014 Newsletter
If you're looking to make a purchase in DC's current real estate climate, the most important thing to keep in mind is that you're buying into an appreciating market. What that boils down to is that you're going to be paying more than someone else did for a similar property even just a few months ago. The sooner a buyer wraps their mind around the idea that they will very likely be paying more than the most recent comparable sales, the sooner they'll be making offers that have a reasonable chance of being accepted.
Buyers should keep in mind that not only does price make their offer competitive, but contract terms are also very important. Being flexible on the settlement date, allowing the seller some extra time to move, conducting a home inspection for…