Real Estate

Top Ten “Most Competitive Neighborhoods for Homebuyers” in 2015

By Prince Of Petworth

launch
Photo by PoPville flickr user Ian Livingston

From an email:

“Redfin just released a ranking of the most competitive neighborhoods for homebuyers in 2015. No neighborhoods in our area made the top 30 nationally (they were all in Boston, Seattle, SF and Portland), however we found AU Park was the most competitive neighborhood in DC, followed by Mount Pleasant and U Street.

We determined the ranking by calculating 7 factors, including the % of homes that sold above asking, the median days on market, the percentage of all cash offers and the percentage of Redfin offers that faced bidding wars.

Here are the top 10. Some of them are 2 neighborhoods combined, but that still gives a good picture of the areas that were hottest this year.”

Ed. Note: Amazing that Southwest had 77.6% all cash offers according to the graph below. Apologies for having to split it into two images:

top ten

top 10 cont

DC’s first for-sale “micro unit community” now on the Market

By Prince Of Petworth

1BR+interior_hires
courtesy McWilliams|Ballard

Check out some cool virtual tours of the units at 2424 17th Street, NW here and here.

From a press release:

“McWilliams|Ballard announces the commencement of sales at Moda 17, a contemporary condominium community located in the vibrant Adams Morgan neighborhood of Washington, DC. Moda 17 Features 38 micro condominium residences designed by local developer Adams Investment, a leader of innovative residential design throughout Northwest Washington.

As Washington’s first for-sale micro unit community, Moda 17 offers buyers a premium European-inspired residence at a very affordable price point. The community features a mix of studio, one and two bedroom residences with panelized kitchens, sleek appointments, outdoor living space, on-site storage and bike lockers. Select homes feature custom built-in beds, cabinetry and moveable walls to allow the homeowner to maximize their living space. Units are priced from the mid $200’s.

“The quality of a condominium in the city cannot be measured by square footage alone. In today’s market, it is about efficiency of design, quality of finishes, location and price. Moda 17 is an opportunity for someone to purchase a new home in Adams Morgan with high-end finishes and private outdoor space for less than they currently pay in rent,“ says Clint Mann, Executive Vice President at McWilliams|Ballard.”

Goethe-Institut moving from Chinatown to K Street in December

By Prince Of Petworth

goethe
812 Seventh Street, NW

WAMU reports:

“After nearly 20 years in D.C.’s Chinatown, the Goethe-Institut Washington is saying “auf wiedersehen” to its building on 7th Street Northwest. Director Wilfried Eckstein says the landlord wants to raise the rent by more than 60 percent, so the German cultural center will move to K Street Northwest, near Farragut Square, in December.”

The report also says the new spot will be temporary (3 years) and won’t be able to show films. The Goethe-Institut will continue to look for a permanent home.

“awesome ‘pool-ready’ massive backyard” house sells for $1,000,000 in Brookland

By Prince Of Petworth

Exterior (Front) -

Thanks to a reader for sending word that the GDoN “awesome ‘pool-ready’ massive backyard” edition house at 1349 Otis Street, NE sold for a cool million bucks in Brookland on October 2nd. Please enjoy the comments to that post… And congratulations Brookland homeowners – you can now easily refinance/get a home equity loan and add that new kitchen you’ve been pining for!

Ed. Note: The house was seriously pretty dope:

Family Room -
Family Room –

Price my rental/condo?

By Prince Of Petworth

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Photo by PoPville flickr user Randall Myers

Price my rental/condo?

“650 square foot studio in SW Waterfront
Granite countertop
Kitchen is nice with ceramic flooring but the appliances aren’t fancy
Carpet in the living space, with ceramic tile in the kitchen, foyer, and bathroom
2 closets with one being a walk in
Pet-friendly
10 minute walk or less to three different metro stations (you could walk to Waterfront in about 2-4 minutes)
Safeway, CVS, Dry Cleaners, Z-Burger, Station 4, Indian restaurant all w/in a 3-4 minute walk
Mile walk to Nats Park, Arena Stage is nearby, 2 blocks away from the Wharf
No parking space

Realtor seems to think that based on comps, I could only get up to $1750. Initially wanted to sell, then I looked into renting and when I saw the estimates, rethinking that I should sell for around 300K (this is just a guess of mine).

How much would you rent it for and would you buy it at the above price?”

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