The DC housing market … why is it so hot

Every recent market report seems to add the caveat that DC is an anomaly. Most markets are still attempting to recover from the 2006 crash. DC took a bit of a dip, but is roaring back. How can this be happening?  The economy is certainly not much better today than it has been for several years. Federal workers haven’t seen a raise in pay for a few years. If all economic indicators remain uncertain, why are homes in DC costing more every month?

The answer is as plain as day.  DC has jobs.  Very few places across the country can make the same claim. DC is a small 10 square mile area. There are only so many homes that will fit. Engineers and builders and architects can do a lot of things …. they can not create more dirt. Space is limited in DC. Put those two factors together and you have recipe for rising home prices (regardless of the economy).

This little chart covers the phenomena.  At the top, the various places new residents come from are depicted.  People moving to DC come from Universities (college dorms or off campus shared housing), their parent’s home, homes they own in other parts of the country or homes they rent elsewhere.  They want to live in or near DC and begin a search. Almost every last one of them jumps on the internet and begins their search there.  After all, there are hundreds of thousands of websites that share available homes in DC.  The majority of the people searching do not understand that the accuracy of the data is often outdated or limited at best.  For every single home/town home/row home/condo listed there is just one property. How that property is displayed has more to do with syndication by agents and brokers than it has to do with the actual property. (A word to the wise: If you want to be more successful in your search, contact an agent in the area. Talk to someone that knows more about the area than can be revealed in wikipedia or some local towns site. Boots on the ground, an ability to listen and then share information is the best way to discover DC (or any other area for that matter).

housing flow chart

As always, DC has more people wanting to live here than there are places to live.  More buyers than available homes creates an imbalance and that old supply and demand process takes over.  Multiple bids appear, prices continue to rise and the market remains “hot”.  Regardless of promises that might be made by some, the truth is you may not find a home you are seeking for the price you are willing or able to pay.  I certainly would never guarantee that home prices will continue to rise, but I promise you that I can see nothing in the marketplace that will slow down the DC market in the near or distant future.

If you are considering a move to DC, you need factually based assistance.  You need to begin the process now, rather than later. You need to begin putting together a comprehensive home buying plan today.  Remember, a comprehensive plan begins with a discussion with a lender. Know what you can comfortably afford. Then, and only then, take the next step. Contact an agent that knows DC. Speak with someone that knows the difference between Adams Morgan and Madame’s Organ. Have a conversation with some one that understands the difference between Petworth and what is a pet worth, the difference between NOMA and no mas or the difference between the Capitol and Capitol Hill.  Subtle differences of a few blocks can add 30 minutes to an hour or more to your commute each day. A map of the subway (Metorail Line) does not include information regarding ease of use or ease of transfer.  A google map of DC will not reveal the walking score of a neighborhood.

DC is my town. I was born here. I know the neighborhoods. I know the Metro stops. I know the nightlife. This is a great place to live. Before you move here and decide on an address, don’t you think we might need to talk.  My phone number is 301-509-5111.

For More Information

Closing help for families of three in DC..income up to $74,500…You bet!!!

Stand in the long line of dreamers

or

Tap into resources others fail to use

         So, the little one bedroom apartment is getting really crowded. Sure, when the market went crazy, it seemed like a good idea to wait.  The arrival of the baby only met rearranging living conditions for awhile.  That little bundle of joy is now heading towards the terrible twos and one bedroom living is no longer comfortable.

          You would consider buying but the new addition has crimped your savings. You would consider buying, but what do you do with little cash on hand?  You are not alone.  There is a long line of folks facing the same dilemma.  You can choose to stand in that line or you can tap into resources that others fail to use.  There is help available.

         Of course you weren’t aware of it. You have enough to worry about being a parent and a spouse. You have enough to deal with doing your job, earning an income and hopefully scratching out time for one “date night” every couple of weeks.  Not to worry.  I check this stuff out all the time. It is my job to dig around and find ways to get you from that cramped living to a comfortable home of your own. I do know the path that is available to you.

        So, if you are ready and want to find out if you qualify, click this link -> contact me

Downtown Washington DC… A Capital City

United States Capitol at Dusk

Downtown Washington DC

Imagine, Something different to 365 days of the year.

Walking to the office.

Gazing at the monuments, from your office or high rise condo windows

Welcome to Washington DC A Capital City

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Our National Monuments

Take a walk around the Tidal Basin after work

tidal basin

Be sure to enjoy the  Cherry Blossom Festival

The most beautiful city in the world, season after season.

white house

Our Nation’s Capital

The downtown Washington DC area has gone through a vibrant revitalization which still continues. Areas once thought lost to urban decay have been renewed. The Verizon Center, located a few blocks from Chinatown is a lively night spot. The U Street corridor has gone through a metamorphic change with the opening of a new metro stop. Every quadrant of the downtown are features new condos and refurbished row homes. Just a few miles to the west, Georgetown continues to be a mecca for those seeking little shops and fine dining. The nearby Waterfront offers the opportunity to find a bargin on the catch of the day or enjoy a meal at one of the restaurants overlooking the Potomac River. Just a bit north of the main downtown area, you can explore the international delights of Adams Morgan.This truly is a Capital City and it is spectacular.

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The Verizon Center

chinatown

Chinatown

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Georgetown

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The famous Ben’s Chili Bowl anchors U street

fish market on maine ave

The fish market at the DC Waterfront

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Gaylord Hotel at National Harbor

DC’s newest attraction is a few minutes down the Potomac

Downtown Washington DC is continuing to grow. While the rest of the country faces up and down cycles, Washington DC is somewhat insulated. The presence of the Federal Government creates a steady job market which in turn supports the housing market. A purchase of a home in the District of Columbia is a sound investment in real estate.

Washington DC homes for sale 
There are actually 3 major airports in close proximity to Downtown Washington DC. Reagon National Airport is minutes from downtown and can be reached using auto or Metro. Dulles International Airport has transport services from many points in downtown. Baltimore Washington International Airport is only 30 minutes up the road and is a hub for many popular airlines. All three of the airports feature many hot spots so travelers can check that last minute email before boarding a flight. There are over 115 wi-fi hot spots in downtown DC and the number is growing every day.
The development of the downtown area is a priority for the local government. They have committed time and resources to support existing businesses and have representatives ready to discuss opportunities with business owners that are considering relocating to Downtown Washington, DC. A brochure has been created for this very purpose.
Downtown Washington DC is home to several hotels. Trade shows and conventions are held at the DC Convention Center. Many of the hotels have the capacity to house small conventions and meetings on site. Speaking of meetings, visitors are welcome in #mce_temp_url#the Capital to watch the House and Senate in session.
Washington DC has a neighborhood to suit any taste in housing and lifestyle.
The upper Northwest is comprised of older neighborhoods and a range of homes from original sears package homes to custom built mansions. The Northwest quadrant is the largest area of the city and is the area where the majority of private homes are found. Neighborhoods include Chevy Chase, Tenleytown, Friendship Heights, Foxhall, Woodley Park, Tacoma Park, Shephard Park, Adams Morgan and Georgetown. The Northeast quadrant is also known for its neighborhoods such as Brookland, Michigan Park, Mount Ranier, Petworth and Trinidad. The Southwestern quadrant houses many office buildings but also has private residences overlooking the waterfront. The Southeastern quadrant remains in transition. Neighborhoods like Anacostia have homes with the most spectacular views in the city.
If you are looking for a new home in the Washington DC area, it is best to have a little help. The link above (Finding homes in Washington DC) will give you the opportunity to search for a home based on your needs. If you wish to see the homes, you will need a real estate agent’s assistance. You can track down each listing agent ( in Washington DC, the listing agent is bound by contract to represent the seller’s interest) or you can choose an agent to assist you that will be bound to protect your interests.
My partner and I would welcome the opportunity to share our knowledge and love of the area. In Washington DC, it is better to have someone that knows the highways and bi-ways moving around town. A GPS make give you a route, but they have yet to invent a GPS that truly understands the nuances of city traffic. We can be reached at 301-509-5111.
Looking for something to do in Downtown Washington DC
Washington DC has almost 70 different museums. They range from the Smithsonian to The Holocaust Museum. The are museums for history, aviation, art and so much more. Visiting the museums each weekend would take a visitor over one year to complete.
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The National Museum of Art
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When you visit this gallery, be sure to see Vermeer’s painting “Lady in a red hat”. The portrait has a luminescent quality that is beautiful. Look closely. There are no brush strokes visible. It is amazing. You see Vermeer used a technique of pouring the varnish over his finished work. This painting is just one of hundreds that are truly national treasures.
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The Holocaust Museum
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The journey from the front door until you end your visit may be the most emotionally draining trip of the day. The horror of the holocaust is shared with one exhibit after another. You will find yourself staring at a pile of shoes. It will seem out of place. Then you will realize, they represent a tiny portion of those that died during the holocaust. Take a minute, try to picture the people that wore those shoes. Picture their thoughts or feelings as the walked into death chambers, wearing those shoes. The enormity of the suffering can become overwhelming.
Festivals?
The Cherry Blossom Festival held in the spring is not the only party in this town. Washington, DC has various festivals throughout the year. Each summer there is the Folk life festival on the mall. DC has it’s own film fest, barbeque festival, a jazz fest to name a few and we end the year with the Pagent of Peace on the Mall which features the lighting of our Nations Holiday Tree.
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National Chistmas Tree
Did I mention Professional Sports?
If you love sports, Washington DC has a pro team in every sport. Washington is home to the Capitals in hockey, the Redskins in football, the Wizards in basketball, the Mystics in the WNBA, DC United in pro soccer and Washington is home to the Tiger Woods golf tournament. The area has green space, ball fields, soccer pitches, football fields and golf courses. College fans have the opportunity to see Georgetown, George Washington, Maryland and Navy compete. The area high schools have organized leagues for all sports.
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The National’s Ball Park
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Home of the Washington Redskins
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Capitals on the ice at Verizon Center
There is so much more that can be shared about Washington DC. There are boat rides on the Potomac and kite flying on the National Mall. Movies are filmed here and artist young and old create wonderful art here. This is a town to meet, greet and fall in love.
My partner and I love it here and would gladly share our vision of how you might call Washington DC home. We can be reached at 301-509-5111. When you are ready to buy, let us help you plan your visit and schedule your viewings.