News & Trends
Bidding on Property: The Scene at a Condo Auction
Last Sunday, about 150 people showed up at the Hilton in Rockville to try and scoop up a brand new condo (or two) at a heavy discount. The Ashmore in Germantown was auctioning off a good portion of their remaining inventory well below their original list prices that ranged from $322,000 to $385,000. When the three-bedroom condos were put up for auction around noon, the opening bid rocketed from $150,000 to $200,000 in a matter of seconds, and all indications were that this event was going to be a buying frenzy. » More
Condo Auctions: Where the Deals Are?
This weekend, DC-area residents will have the opportunity to get a $300,000 condo for just below half price. On Sunday, at the Hilton in Rockville, the remaining condos at The Ashmore in Germantown will be auctioned off. The starting bids for the auctioned units will be $140,000, a dramatic discount from their list prices. » More
Rental Madness for Obama Inauguration
Soon after Barack Obama's victory last Tuesday, DC-area property owners and renters began putting their homes up for rent for those coming to town in January for the inauguration festivities. And the rates are quite steep. » More
Where Can You Buy a Loft in DC?
The lofts in DC are different than those in cities like New York and Chicago. Instead of raw industrial spaces, DC lofts are usually either large units in renovated schools or auto showrooms or loft-like residences in developments that some in the business have nicknamed “McLofts.” This article will look at these varying types of lofts and where you can find them in DC. » More
DC Condo Prices Will Hit Bottom in Late 2009
Condo prices will bottom out in DC proper and the inner suburbs in late 2009, according to a report released by Alexandria-based Delta Associates. Delta attributed next year’s cellar-dwelling prices to the condo market finally achieving an equilibrium between supply and demand. » More
Capitol Riverfront: What’s the Latest?
When Nationals Park opened in March of this year, the neighborhood that surrounded it was just beginning to take shape. And even though the transition is creeping along (and will continue to evolve for the next four years), the area that is being called Capitol Riverfront may soon be a destination for home buyers who want to invest in one of DC’s untapped zip codes. » More
Insight Into a Wild Week: An Interview with Dr. Stephen Fuller
In an effort to make sense of all that has gone on in the financial world this week, UrbanTurf interviewed Stephen Fuller, the Director of the Center for Regional Analysis at George Mason University’s School of Public Policy, for his thoughts on how the turmoil on Wall Street will affect the local housing market. » More
Is Adams Morgan More Dangerous than Anacostia?
Once the center of DC's nightlife scene, Adams Morgan has begun to develop a new, much more dangerous reputation over the past year. The statistics for robberies and assaults in the neighborhood have gotten alarmingly high in the past 12 months which may lead prospective home buyers to think twice before purchasing in this once hip zip code. » More
Is Now the Best Time to Buy in DC?
It is a buyer’s market out there for home buyers, and the data is there to prove it in DC. The median sales price for a home in DC in August 2007 was $460,000. One year later, it is just over $400,000. The average price per square foot for a home on the market in 2007 was $420. Today it is about $389. This week, Washington City Paper featured a home that is listed at twenty percent less than it was in 2006. So, does all this mean that you should buy a home tomorrow? » More
Buying at the Beach: Can Your Fantasy Become a Reality?
There is perhaps no better feeling than hopping into your car on a Friday afternoon in the summer with the knowledge that your empty beach house is a few hours away. However, for most this is fantasy, not reality. Even though prices have been dropping for about a year in beach communities close to DC, buying a vacation home is still an undertaking that requires a large chunk of money and a good deal of thought and research. » More
