Archive for August, 2012

Check out this week’s great home around town: The #304 unit at 2305 18th Street in Adams Morgan.This 1 bedroom, 1 bathroom home, is housed within the Gibraltar, a beautiful Victorian that was built in 1911.The unit faces South and features a renovated bathroom, replacement windows and a brand new carpet. That kind of sounded like the way Bob Barker Bob Barker offers contestants prizes on Price is Right eh? Well, if this home was a prize on Price is Right, it would be an absolutely amazing prize.The unit is being offered for $319,000 and is right in the heart of Adams Morgan, within walking distance of Dupont Circle and Columbia Heights.There is an open house this Sunday, September 2 from 1 P.M.-3 P.M.. Awesome location, awesome home.Check out the photos and if you have any questions regarding 2305 18th Street or any other homes in Adams Morgan, check out our mega-site Washington D.C. Home Sales: Your one stop shop for D.C. real estate:

Here’s a hypothetical for you: It’s Sunday morning, you live in the Adams Morgan-U Street-Columbia Heights area and you’re hungry.  Not only are you hungry but you have a deep, undeniable desire to go somewhere for brunch.  Where to go?  Well there are certainly lots of brunch options in the area, and now Kangaroo Boxing Club can be added to the list of possible destinations.  Kangaroo Boxing, the delicious barbecue joint that moved in on 11th Street recently, will now offer Saturday and Sunday brunch from 11 a.m.-3 p.m..  Some of the menu selections include:

• Stuffed French Toast with sweetened vanilla cream cheese and fresh fruit
• Farm Salad with arugula, balsamic macerated peaches, feta and more
• Bacon date jam and biscuits

YUM!  See the full menu here.   Oh and by the way, the houses that surround KBC are as desirable as brunch on a Sunday morning.  Check them out here.

This week’s “Monday Must Read” focuses on mortgages and spotlights an article that ran in Forbes earlier this year entitled “The Perfect Loan File”.”The media has it all wrong – securing mortgage approval and satisfying credit underwriting guidelines are not the difficulties plaguing mortgage consumers,” The article kicks off.  ”It’s in meeting the rigorous documentation requirements that most people fall flat. The good news is, the fix is simple. Just scan, photocopy, fax, and deliver every aspect of your financial life. Then, shortly before closing, check everything again.  Mortgage consumers who enter the mortgage approval process ready to battle their chosen mortgage lender will come out with a nightmare story to tell. As the process, requirements, and guidelines are the same for everybody, your mindset is the game-changer. Accepting the redundant documentation necessary for lender approval will make everyone’s life easier.”Read the full article on Forbes.com. Definitely check it out—it provides some pretty in-depth, yet clear, truths about the mortgage process.

Back in February it was revealed that Donald Trump and company would be making a new hotel splash in D.C. down at the Old Post Office on Pennsylvania Avenue.Over the weekend, the Washington Post ran a story chronicling “how the Trumps landed” the spot.”Trump and his daughter Ivanka are close to adding the national landmark to the growing portfolio of shiny Trump things,” The story reads. “The Old Post Office Pavilion is so revered that the threat of its demolition launched the capital’s historic preservation movement. Built in the 1890s, it has been ogled by local developers for years, and competition for the property began to boil almost immediately when the federal government sought private partners in March 2011.When the government announced in February that it had selected the Trump plan to turn the building into a luxury hotel, it stunned Washington real estate insiders and politicos alike.Critics have not held back. They say the Trumps are famous for making unrealistic promises and suing to get their way. They say the $200 million the Trumps have proposed to spend renovating the Old Post Office is not economically sensible, setting the project up for failure. The Trumps have built fewer hotels than their competitors and have never navigated Washington’s political and regulatory landscape. This, the critics say, should matter.”See out the full report here, it’s really great read.It should be interesting to see how the Trump hotel arrival affects the rest of D.C. real estate and D.C. property sales, if it does at all.A new hotel in Downtown D.C. is probably needed as tourism throughout the city continues to grow.

There was a really interesting article in the Washington Post a few days ago that is definitely worth the read.The article is about the state of the bidding war in the District these days.”These days, buyers are having to come up with more and more creative ways to win the bidding wars that are breaking out again in the Washington area real estate market,”  Kathy Orton of the Post writes. “…The heightened demand is fueled by record-low mortgage rates. Freddie Mac reported on Thursday that the 30-year fixed-rate average was 3.59 percent. The 30-year rate has been below 4 percent all but one week this year. The 15-year fixed-rate average has lingered below 3 percent the past 11 weeks. These low rates make homeownership more affordable. Many would-be homeowners, spurred by the low rates, are seeking to buy, but they aren’t finding much to choose from.”Read Orton’s full article here.   It’s a real winner.

It’s that time of the year again: The Adams Morgan Day 18th Street Festival is right around the corner.If you haven’t been before, you must get out to Adams Morgan Day this year.  It’s an incredibly fun community event that brings the neighborhood together for a day of food, arts, music and culture.”Opening the Festival at 10 am will be the ever popular ‘Arts on Belmont,’ sponsored by Harris-Teeter,” Chinko Watkins of the InTower writes.  ”The shady residential Belmont Street will be lined with some 45  artisans and coordinated by Avner Ofer. Offerings span the gamut of diverse cultures and mediums in all price ranges. Collectors and newcomers can choose from fine art and sculpture, crafts, jewelry, photography and the all original work ranges from contemporary to traditional to avant-garde.”Read Watkins full report here. While you’re at Adams Morgan Day you should make sure to get a glimpse of the beautiful residences throughout the neighborhood.Get a taste of what AdMo has to offer by checking out some of the neighborhood’s stunning homes here and now. 

This ABC News story is fascinating: A Michigan man flipped one house, enjoyed the process, and then decided to go all in.

Literally.

“Until a year ago, Bill McMachen, 71, had never bought or sold a foreclosed home,” ABC writes.  ”Then in 2011 he bought one for $12,000 and flipped it a week later for $18,000. ‘That went pretty good,’ he says. ‘So I said to my wife, ‘I think I’ll buy them all.’’ He was referring to all 650 tax foreclosed properties in Macomb County, Michigan. McMachen bought them in one fell swoop for $4.8 million at a July 31st auction. Afterward, he says, he told his wife, ‘Phew, I might be in over my head.’”

The story continued, “He’d seen the auction advertised, and had asked county officials if it was possible for him to buy the entire lot, which included 403 homes, 120 residential lots, 14 condos, 9 commercial buildings and some undeveloped land. They told him nobody had ever done that before, but that there wasn’t any reason he couldn’t. He snapped them up for no more than their combined back taxes.”

Read the whole story on ABC News.

Can you imagine if one person bought hundreds of properties in our area?

They would certainly have a hold on the market.

I’ve been watching the Olympics and have been struck by how little separates Gold and Silver.  One, one hundredth of a second - right at the finish - is sometimes all that separates those who accomplish the goal, and those who don’t.  In some recent swimming matches the commentator talked about the finish and how the final reach makes the difference between medaling and not.  It seems life and certainly real estate works in a similar way.  If you’ve ever renovated a part of your home you know it is the last 2% of the list that is sometimes the hardest to complete - and yet must be done to truly complete the task at hand.  If you’ve ever sold property you know that if your pricing is off by even 1% you may not sell.  If you’ve ever bought a home you’ve likely seen the house that didn’t seem “finished” and thus you passed it by.  The finish makes all the difference and the quality of that finish leaves you with a win or a loss.

Roommates are great, but sometimes things get a little cramped. When living with a roomie it’s great if you both have your own space. 

This is just one of the reasons 1438 Columbia Road is a perfect play.

1438 Columbia Road is a beautiful 2-bedroom condominium right in the heart of Columbia Heights that has a roommate layout that you simply can’t beat including a full separate bathroom.  That’s right: If for whatever reason you want your own bathroom, this is a MAJOR win.

The nearly 800 square foot condo almost feels like it has two individual wings.  The living room is small but super cozy.  Both the bedrooms, though, are large allowing the residents to live, work, and relax in a space they desire.

1438 Columbia is in a super walking location, just blocks from the Columbia Heights green and yellow line Metro station, the DC USA Mall, and the excitement and nightlife of Adams Morgan and the U Street Corridor.

Check out some of these photos of 1438 Columbia and click here for more photos and info.