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Cooperative housing is a popular housing ownership model in New York City, and apparently Washington D.C. residents are increasingly favoring cooperative housing, too.

Cooperative housing is different from straight ownership in that residents actually purchase shares in a corporation that’s provides members with a place to live. That corporation owns the building, land and all the property, but the residents own the corporation.

Washington D.C.’s cooperative housing includes at least about 120 co-ops that, in this city, are a source of affordable housing. In New York City, many cooperatives are for luxury living and cater to the city’s more elite residents.

Among the earliest examples of cooperative housing in Washington D.C. is the Watergate…

Two-story condos are hard to come by in Washington D.C., but the real estate market here does have several properties for homeowners looking for the convenience of cooperative living spread out on two floors.

The majority of condos in Washington D.C. are tight quartered, with the most common being studios or one-bedroom units. In the more suburban-like areas of the District, buyers may be more apt to find the rare two-story condo, although two-story condos can be found throughout all parts of the District.

Not surprisingly, two-story condos are significantly more expensive than their one-floor counterparts. For example one two-bedroom, two-story condo in the Adams Morgan area lists for $675,000. Other condos on one floor in this neighborhood list…

In Washington D.C., the real estate market is clearly in the seller’s favor. Here, prices are rising and inventory is tight. Couple that with rising interest rates pushing more buyers off the fence, and this seller’s market makes it one that’s tricky for buyers to compete in.

But buyers can take several steps to improve their odds of landing their dream home. First, understand a seller’s specific terms such as a desire to move out quickly. Buyers who cater to sellers’ specific wishes have better chances of securing successful contracts.

Buyers in D.C.’s seller’s market can also add escalation clauses to their bid offers. That means that they can posit a lower bid but can reduce their chances of being outbid by adding in a clause that increases in…