petworth condominium

There’s no denying that Petworth is a neighborhood on the rise. As a result, Petworth real estate is somewhat harder to come by than it was ten years ago. While the neighborhood’s iconic property is the brick rowhome (complete with basement and front porch), they are attached or semi-detached anyway, so why not consider the increasing selection of Petworth condos?

As Petworth’s popularity increases, condos provide an excellent opportunity to reap the neighborhood’s obvious benefits and offerings. A condo is also a great vantage point from which to scope out your future rowhouse or detached property.

Petworth condos come in all shapes and sizes. Many buildings, such as Kennedy Flats and The Christina were purpose-built as condominiums, while…

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The Armed Forces Retirement Home will soon begin a project on its Northwest DC Campus that is now ten years in the making. On Monday, March 19th, the AFRH issued a solicitation to developers. Paying its operating costs from a trust fund rather than federal appropriations, the AFRH has had difficulty making ends meet over the years, but thanks to some creative thinking and congressional approval, a portion of the 272-acre campus has been allocated for private development. This will create a new revenue stream from which the fund can be topped off.

Though various ups and downs have halted the forward progress of this project, the delays may have been a blessing. Petworth, the neighborhood that shares the AFRH’s northwest border, has undergone a…

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Best Neighborhoods to Buy in DC 2018

Capitol Riverfront | Situated on the Anacostia River and 1 mile from Eastern Market, Capitol Riverfront (aka Navy Yard) has been making quite a name for itself over the past few years. As with so many urban ports that have long served as industrial and business centers, the Capitol Riverfront is in the midst of mindset-shifting revitalization. A mix of residential, commercial, dining, shopping and loads of outdoor activities is the reason why Capitol Riverfront is experiencing the largest development boom in its history. Anchored by Nationals Park, Capitol Riverfront is home to a myriad of eateries such as Cornercopia, Sweetgreen, Bluejacket Brewery, and Takorean. Yards Park is a premier waterfront destination, providing green space and water features…

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Foreign Investors are Buying in Washington DC

Foreign real estate investors are eyeing the Washington DC real estate market!  In the past year, DC has risen two spots, from number six to number four among U.S. cities for foreign investment. Only New York, Los Angeles, and Seattle came in before our nation’s capital.

South Korean and Chinese institutional investors are fueling much of the interest. The top five property types investors are most interested in listed by members of the Association of Foreign Investors are industrial, multi-family, office, hotel, and retail (in order of importance).

 

D.C. Developments and Beyond

It’s no secret D.C. has been growing immensely over the past few years. The city as a whole has been working hard…

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Address: 1111 24th St NW
Type: Condos
No. of units: 71
Affordable Housing: N/A
Type of Unit: One-, Two-, Three- bedroom
Price: $1.2 M - $4.2 M
Status: In Sales
First Move-in: Sept. 2017
Developer: EastBanc., Inc.

 

Westlight Condo | West End

The Westlight Condos are located in prime real estate—centered in the West End of the city, near Georgetown, Dupont Circle and Downtown D.C.

The condos are designed by the architect Enrique Norten, with features by artist Ingo Maurer. Their signature is all over the building, from its cantilevered glass building façade to breathtaking sun-drenched views from floor to ceiling windows.

The 71 condos are part of a 10-story building that includes an expansive library and over 7,000 square feet of retail…

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300 8TH STREET NE
Capitol Hill

Address: 300 8th St NE
Type: Condos
No. of units: 42
Affordable Housing: N/A
Type of Unit: One-, Two- bedroom
Price:$500k - $1M
Status: Under Construction
First Move-in: Winter/Spring 2019
Developer: Community Three Development, Torti Gallas Architects

Real estate developer Community Three Development is planning on building a complex at 300 8th St. NE. The complex will include 42 condos with one and two-bedroom units. Designer Torti Gallas has been chosen to design the project, which will offer a ground-floor fenced-in courtyard at the back of the building.

The building would include lots of exposed brick with huge multi-light double hung windows. It would, of course, stay true to its historical nature, harkening back…

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BUCHANAN PARK
Capitol Hill

Site Plans Site Plans Buchanan Townhomes Buchanan School Living Room Bedroom Rooftop Deck

Address: 13th & D Streets NE

Type: Condos and Townhomes

No. of units: 41 condos, 32 townhomes

Affordable Housing: N/A

Type of Unit: One-, two-, three-bedroom condominiums and three- and four-bedroom townhomes

Price: 500

Status: Selling

First Move-in: 2017

Developer: Ditto Residential and Insight Property Group

Buchanan Park, a community now under development located at 13th and D Streets SE, has become a neighborhood within a neighborhood, with plenty of landscaped green space, lots of lovely outdoor gathering areas and walkways to connect the…

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One thing that ultimately influences your mortgage rate is your credit score.

For first time home buyers, many aspects of home buying can seem daunting. We’re here to explain how your credit affects what mortgage rate you may be given once you decide to buy a home.

One thing that ultimately influences your mortgage rate is your credit score. Basically, the easiest thing to remember is: the higher your credit score, the lower interest rate on your mortgage.

A high credit score not only guarantees a lower mortgage rate, but sometimes it depends on whether you can get a home loan at all. Buyers below a FICO score of 620 have a miniscule chance of securing a mortgage, so step one to getting a home loan and low mortgage rate is working on that credit…

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The District of Columbia Association of REALTORS®(DCAR) announced the First-Time Homebuyer Tax Benefit has been passed and funded by the DC Council. The First-Time Homebuyer Tax Benefit allows first time home buyers in DC to pay a .725% recordation tax on homes no more than $625,000 that earn less that 180% AMI beginning this October.

So what exactly does that mean?

First let’s talk about the recordation tax. Recordation tax is part of various closing costs and based on the purchase price. If the sale price is $399,999 or less than the DC transfer and recordation tax rate is 1.1%. Sales of $400,000 and above are taxed at the rate of 1.45%. For example, if you bought a $250,000 home in DC, the buyer and seller would each pay $2,750 in DC transfer…

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Condominium Warranty Regulations is a program in DC that helps protect buyers of newly constructed condominiums.

Condominium Warranty Regulations, a program launched a few years ago in D.C. aims to protect buyers of newly constructed condominiums. It stays in effect for two years after the settlement date of the first condo in the new building. What happens is 10 percent of the total cost of construction is put aside as a condo warranty bond. The Department of Consumer and Regulatory Affairs (DCRA) and your respective condo association can ask for money from it to aid in structural issues to your unit that may come up.

It is important to remember a couple key pointers, when buying a brand new condo, especially given the amount of real estate that…

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