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April 2014 Newsletter
Spring in the Nation’s Capital brings two certainties: cherry blossoms and more listings showing up on the real estate market. It has been quite the seller’s market over the winter, with a high demand and low supply of properties in the DC area. The sales price to original asking price is close to 100% right now. While we don’t foresee it turning into a buyer’s market anytime soon, there will be more listings coming available throughout the spring and summer.
Most well priced listings are seeing multiple offers. More often than not, the winning offer is above the seller’s asking price with very few, if any, contingencies. It’s commonplace in DC for purchasers to accept the property “as-is,” and many buyers are choosing to waive any financing,…
136 Wilmington Place SE
A four-bedroom, two-and-a-half bath Cape Cod style house available under short sale. A short sale is different from a foreclosure in that the owner is still controlling the sale, not a bank. We are committed to helping both sellers and buyers with the process involved with short sales, especially in Southeast DC. If you’d like more information on short sales, please contact us and check out this great article.
This specific short sale, 136 Wilmington Place SE, is a detached home with three levels. It includes a finished basement and plenty of space at 1,384 square feet. The house stands on a corner property with a good-sized yard and a driveway for off-street parking. It features hardwood floors, a newer kitchen, and a brick fireplace. This home offers…
3601 Connecticut Ave. NW #118
Petworth Row Homes
Petworth is a Washington, DC neighborhood on the rise. It is one of the largest areas in the District by geography, and over the last decade has seen a great deal of investment and transformation. Sprawling north from the Georgia Avenue-Petworth Metro station on the yellow & green lines, this once struggling neighborhood is a bargain hunter’s dream. There are dozens of row houses in Petworth, many made of brick and nearing a century old. A good number of these have been renovated since the turn of the 21st Century, yet remain more affordable than similar homes to the south and west in Northwest DC. Since Rock Creek Realty operates out of the Petworth neighborhood, we are quite knowledgeable on what’s going on in the area. If Petworth interests you, check…
Brand New Condos in Shaw
Shaw is one of DC’s hottest neighborhoods right now. This Northwest DC sector offers a great location, including two Metro stops on the yellow & green lines. Several restaurants have sprung up in the area, and it is in close proximity to Penn Quarter, Logan Circle, the National Mall, U.S. Capitol building, Union Station, and Howard University. In addition to the already existing houses in the neighborhood, brand news condos in Shaw have become a very popular choice. Yale Steam Laundry (right) is just one of the newest condominium options. Check out the map to see what the market has to offer right now in terms of brand new condos in Shaw!
The Evolution of Georgetown
Georgetown is a historic DC neighborhood known for upscale row houses and boutique shopping. But this year, neighborhood planners have envisioned the Georgetown of the future.
Georgetown has seen an influx of 30,000 new residents in the past two years, many of whom are young professionals. Joe Sternlieb, Chief Executive Officer of the Georgetown Business Improvement District (BID), is interested in their needs. “We'll be doing some focus groups with just that demographic in September to respond to some of the ideas that have generated through our Georgetown 2028 project over the last few months because we really want to understand what do they want, what do they need, and how do they plan to get around now and in the future?”
Georgetown never had a…
Bike & Ride Metro with Ease
Bike & Ride is a new facility that provides secure, covered bicycle parking at the Metro. The first Bike & Ride opened last year at the Metro station in College Park as a pilot program.
The Bike & Ride in College Park spans 2,400 square feet on the first level of the Metro parking garage. It features bright environmentally-friendly LED lighting, security cameras, an emergency callbox, and card-controlled access. There is even a bike repair stand nearby with tools and an air pump for cyclists who need to make a quick fix.
Bike & Ride does not require a monthly or annual fee, but users must purchase a BikeLink™ access card for $20. Since the card arrives by mail, be sure to do this well in advance of your first planned trip to Bike & Ride. The first…
Silver Line Phase 2 Begins
The Silver Line, a 23-mile extension of Metro past Dulles Airport, is one of the largest infrastructure projects in the country. This development will occur in two phases: Phase 1 is nearly complete, and Phase 2 just was just formally approved to start work.
Phase 1 of the Silver Line branches off from the Orange Line between the East Falls Church and West Falls Church stations. This phase includes four new stations in the Tysons Corner area and one in Reston at Wiehle Avenue. This phase of construction is 94% complete.
Phase 2 of the Silver Line includes six stations across 11.4 miles. The stations will be in Fairfax and Loudon counties at Reston Town Center, Herndon, Innovation Center near Route 28, Washington Dulles International Airport, Route…
Hot Washington DC Real Estate Post. Properties Worth Buying
508 IRVING ST NW, WASHINGTON, DC 20010
List Price: $485,000
This is a 3 Bedroom, 1.5 Bath row home in the eastern edge of Columbia Heights in NW DC. The price was reduced from $585,000 to the current list price on September 25th. The price was way too high at $585,000 and is still too high at $485,000. The location is great due to its proximity to the Petworth and Columbia Heights metro stations. The development along Georgia Avenue over the next few years will definitely increase and bring values up even more as this area gentrifies. The home also has off street parking and is 1856 total square feet.
733 FARRAGUT ST NW, WASHINGTON, DC 20011
List Price: $399,900
This is a good size end unit row home up in northern Petworth. The location…