GDoN “three floors of beautiful” edition (also, how do you think the Trump Presidency will affect the DC Real Estate Market?)

1730-18th-street-northwest

This house is located at 1730 18th Street, Northwest. The listing says:

“This large 4-bedroom, 2-bathroom Victorian Row House provides three floors of beautiful and carefully maintained space to create a luxurious home, as well as a 1-BR, 1-BA legal unit. Over-sized rooms with natural light, original hardwood floors, exposed brick and woodwork throughout the house are balanced with modern baths and open kitchen. Rental Parking included! 2block walk to Ross Elementary”

gdon

You can see more photos here.

This 5 bed/3 bath is going for $1,374,000.

36 Comment

  • ::shudders::

  • Trump presidency hurts the US bond market. Interest rates will remain low as a result for some time to come. In short, it benefits RE investing, but I doubt it will have much localized effect in the DMV.

    • Couldn’t easily use the same reasoning to say that Trump helps the stock market then? Keeping rates low is good for the stock market. People who don’t like Trump will use whatever ammo they can find to attack him.

      • Relax, nobody is attacking Trump here. Response above answered the question posed in the thread title. It did not seek to comment on your tangential point regarding the stock market (though your point only stands if Trump acts like a traditional, rational republican president, as opposed to the volatile risk he put on throughout his campaign).

  • That seems like an awfully good deal, considering what $1.4 mil gets you in places like Bloomingdale.

  • since I can’t bring myself to think about things that actually matter, I’ll comment on the fact that my galley kitchen has more storage than this house. Why have a big dining table for entertaining if you don’t have a kitchen that was actually meant for cooking?

  • With GOP controlling three branches of government you can bet on austerity, baby. I’m expecting massive slashing of agencies’ budgets and contractors. They big question is whether increases to the defense budget will make up for the austerity. That said, defense spending is more distributed across the country. I think DC real estate may take a hit, NoVA may remain stable.
    Rates are low and will not increase, but I think we haven’t truly seen the market bake in the long term structural changes he will try to ram through (e.g., raise tariffs, social welfare reform, etc). The markets stabilized last night because he gave a sane speech for 15 minutes. But who knows what he will be saying 90 days from now. I think it’s a terrible moment to be engaging in real estate transactions – way too much uncertainty.

    • Guess who just closed on a condo the day before Election Day!

      • Unless you grossly overpaid, you will be fine. I disagree with the above assessment – sure, there will be some changeover, but it won’t be that exaggerated. Source: past Republican administrations.

    • “I’m expecting massive slashing of agencies’ budgets and contractors.” I was about to say, “But what about all those defense contracts??” until I saw your next sentence: “The big question is whether increases to the defense budget will make up for the austerity.”

    • haha, when republicans say, “less government”, what they actually mean is, “less government for things they don’t like, more government for things they do like”. Long story short, I wouldn’t expect any type of austerity or (overall) budgets shrinking.

      • This is true — ‘when republicans say, “less government”, what they actually mean is, “less government for things they don’t like, more government for things they do like”.’
        .
        Don’t Republican Congresses usually give the Department of Defense MORE money than it actually asks for, thanks to intensive lobbying by Boeing, Northrop Grumman, et al.?

  • Good deal. And it’s nearly impossible to speculate on what effect a Trump presidency will have on real estate values in DC.

  • SilverSpringGal

    DC was a completely republican town from 2001-2008 right? Yet it still went from murder capital to development boomtown in record time. I’m hoping values will hold.

    • “Yet it still went from murder capital to development boomtown in record time.”
      .
      Due to a little thing called The War on Terror which led to unprecedented deficit spending. And America has just elected a deficit hawk to the WH. Past experience is not an accurate predictor of future events. Trump has been saying how he will bring our troops home and draw down our foreign commitments (except for carpet bombing ISIS). We are moving into a hard isolationist Administration. The NeoCons are out.

      • THIS^

        It’s tough to know what the effect will be long term because DJT wasn’t very specific in his policy platform. Trade wars, currency wars and draining the swamp could have negative effects on the DC real estate market and the national economy. In the short term, I expect a marginal slow down until real policy details start coming out. It’s tough to know what “drain the swamp” actually means.

        • Because so many Presidents truly accomplish what they campaign on. Anyone who has this idea in their head that Trump is any different than any other rich politician is fooling themselves.

          • Sadly there are a lot of his voters that actually think that……… When nothing change he and they will blame it on Obama and Hillary. Nothing will ever be his fault.

      • Oh PLEASE!! “Deficit hawK?” That’s really rich. He’s made lifetime out of accumulating and leveraging massive amounts of debt. He has no trouble spending

        • This is a good point. I’m not sure we can actually believe anything he said during the campaign (one way or the other, really). We can, however, look to his past performance/actions. This man spends like there’s no tomorrow. Now, I do think Congress would quickly put a lid on that, but still.

          • Also he has specifically said that borrowing is a good idea right now. And his tax plan is completely detached from any notion of budget-balancing. So we can also listen to what he’s saying and assess that it is completely false to call him a “deficit hawk.” No idea what election Anonymous has been watching.

    • D.C. became a development boomtown in large part because of Anthony Williams. The increase in defense/intelligence spending after 9/11 helped, but it wasn’t the main driver.

  • generally, republican presidents are good for the DMV because of all the defense contracting.

    I think there was a post article about this sometime within the past year, but im not positive.

  • Looking at the last 16 years, including the crash, the market here was generally steady or gaining regardless of the presidency. 2009-2011 was a little soft. That being said, if he loosens banking regulations, there would be more free-flowing capital which could potentially create more development opportunities and drive values higher.

    And in reply to one below: DC has never been a Republican town!

  • I’m kind of alarmed to be honest. He used such violent rhetoric against pretty much every city in America and has expressed nothing but disdain and contempt for the poor. If there are ever going to be riots over this man’s presidency they’re going to happen here.

    • I could see continuing civil unrest but not necessarily here (sure it could happen here). You’ll rightly see legitimate grievances raised by BLM over excessive and lethal police force wherever it happens. What you won’t see is a federal government that gives a f@#! over any of these legitimate grievances. You’ll see more National Guard responses from law enforcement instead of effective engagement.

  • I don’t give a f@#! about the RE market. More worried about our country and our souls

    • That’s fine. But you might feel differently if you worked hard for years to save for a down payment and finally bought a place of your own. It’s not my top concern right now either, but it could be financially devastating to many people if the market tanks.

      • Why stop at the house? You could add to that people who’ve saved for a lifetime only to watch their retirement portfolios sink in a global recession triggered by this asshat’s delusions about global trade. Or small businesses dependent on free trade that could face increased tariffs and a disastrous business climate. Or millions of Americans who finally gained healthcare for over the past 4 who will have it ripped away from them. Or even worse see the rollback of generational gains in civil rights — freedom of marriage, voting rights, etc

        The house is really the least of it

        I need a drink.

  • Is a whole new Republican party. Yes there will be more defense spending but that just means more money for virginia than the district. but this new party doesn’t just want to slow the rate of spending, they want to spend less. They don’t want to just streamline the government, they want it to do fewer things. They don’t just want to freeze federal salaries and benefits they want actual pay cuts. And now they control all of Congress, the courts, and the white house. Not even Reagan had that kind of power.

    I’ve been saying for the past year to people that I was hesitant to buy property in DC because all it takes is one Trump/Cruz to come along and gut the federal workforce. Anyone whose work depends on obamacare or dodd frank is likely gonna lose their jobs. People moved here during the recession because the government was still hiring. If trump decides to reward the states and people who voted for him, it’s not hard to imagine many young people moving back to the midwest.

    Sorry folks as my shock wears off I’m starting to see more consequences to last night and it does not look good for the region.

  • Way, way, way back in the day changes in the WH – particularly if it was also a party change – did impact real estate because a large crowd moved out and a large crowd moved in. At least in those area neighborhoods where political appointees lived. That is much less the case now. Interest rates, market activity, and banking regulation changes will have some impact but unless the are BIG in capital letters, it is hard to think any impact will go any deeper than the margins.

    Now if they succeeded in really change federal government employment workforce and there is mass civil unrest that would be a different story.

    • dc also has a more diverse economy than it used to. e.g., dc gets about $7 billion/year from tourism alone. there are still 6m people in the greater metropolitan area. should be much more stable now.