Real Estate

“Starter Condos” on H St, NE start in the “mid $300,000’s”

By Prince Of Petworth

1115_h_st_rendering
Rendering via Urban Pace

From a press release:

“With a new streetcar service running along the bustling H Street corridor in Washington, DC, residents will soon be moving into 16 newly constructed condominium homes at 1115 H Street, NE. Wall Development is nearing completion of its five-story mixed-use development on the site of a former Woolworth store. Urban Pace, the city’s leading condominium sales and marketing firm, has begun taking reservations from prospective buyers.

1115H is designed to achieve LEED Platinum certification from the US Green Building Council. Its energy-efficient and environmentally friendly features will include a green roof, triple-glazed windows, wiring for potential electric car charging stations, covered bicycle storage, and a one-year “transit package” for new residents. Square 134 of Washington, DC is the project architect. (more…)

Most Expensive House Ever Sold in Brookland?

By Prince Of Petworth

DC8505854 - Exterior (Front)

“Dear PoPville,

I searched the property records, but I can’t find a more expensive house that’s ever sold in Brookland than this one now under contract, and in only 22 days.”

The listing said:

“Builders put the Craftsman in Ship, equipped it to steal your breath, big twin engines in Noah’s Ark, immaculate inception, words won’t work, let your eyes scan the prize, your feet walk the size, run fingers along the finish, listen, diminished noise, Brookland poised, a lofty location, so near your vocation, a custom-built, brand-new, ground-up, hands-down masterpiece”

You can see more photos here.

This 5 bed/4.5 bath was listed at $998,000.

Ed. Note: Remember the “renovated palace” once listed at $1,500,000? Of course it didn’t sell at that price.

Urban Institute’s series on DC’s population growth – Chapter 3. Housing

By Prince Of Petworth

Urban Institute’s series

Chapter 3 Housing:

“It takes more than a thriving restaurant scene to sustain DC’s recent population boom. New residents also need somewhere to live. Increased demand has driven up the already high cost of homes and rentals and kicked off a surge of new construction. While the city is now prospering, these changes have made DC unaffordable for many residents, both current and new.

High housing costs have helped make DC one of the most expensive places in the country to live. Even at higher-income levels, many renters are paying more than 30 percent of their income on housing and some find homeownership out of reach. Lower-income residents, meanwhile, are getting further priced out of the market. Can the city meet the needs of its new generation of residents while also creating and preserving affordable housing at all income levels?”

From an email:

“A few highlights:

1. DC’s housing market much stronger than most US cities’. The DC housing market is so hot that during the housing crisis, prices didn’t fall. They just stabilized. It bucked the national trend. (Slide 2)

2. New units built for wealthier residents. New rental units are being built largely for people with considerable resources, less often for middle- and low-income residents. (Slide 3)

3. Millennials are driving many of these changes. They’re educated, and are making up more and more of the population. (Slide 4)

4. The population boom has been accompanied by a building boom. This animated map shows 12 years of residential real estate development. (Slide 5)”

Read the full report and see all the slides here.

Redfin calls Eckington a “neighborhood to watch” for the 2nd half of 2014

By Prince Of Petworth

eckington

From an email:

“At the beginning of 2014, Redfin predicted neighborhoods that would be hot in 2014, based on consumer activity on Redfin.com. We decided to take a look back at our January predictions to see if these neighborhoods are Hot or Not. Upper Chevy Chase came in at #4 on our original Hottest Neighborhood List and it’s still on top. In fact, so far this year, 40 percent of homes in Upper Chevy Chase sold above asking price – homes are staying on the market for an average of just 5 days.

Redfin is also predicting a hot hood to watch out for in the second half of 2014 – Eckington. Redfin agent Leslie White says the main drivers of interest in this neighborhood are affordability and location. “Prices tend to be lower than neighboring Bloomingdale and NoMa, which have seen significant developer activity in recent years. ‘Fixer-uppers’ can still be found at fair prices in Eckington,” White says.”

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