Columbia Heights Penthouse!

This huge 1,300 square foot penthouse is perfect for entertaining!  Amazing views of the Basilica of the National Shrine, private outdoor space with a hot tub and 11 foot ceilings make this true industrial loft a rarity in the city.  Converted in 2006 from an industrial laundry building, Lamont Lofts is just minutes away from the Columbia Height metro and all the nearby amenities.

Virtual Tour…just in case

This is one open house you don’t want to miss!

Incredible 1 bedroom/1 bath corner condo located in the award winning Flats at Union Row!  Gleaming Sedona maple hardwoods with 9 ft. ceilings and exposed ductwork make this space extra special.  Extraordinary floor to ceiling windows provide an amazing view of the City that you won’t want to miss!  The European –inspired kitchen boasts stainless steel appliances and magnificent granite countertops while the sleek and stylish Porcelanosa bath does not disappoint with it’s creative flair.  Home is calling you!

Although you’ll see it in real life, a Virtual Tour, to get you by until Sunday.

Columbia Heights condo just for you!

This is your chance to own a beautiful one-bedroom condo in Colvin House, just steps away from metro.  This brand-new condo feature European cabinetry, deluxe appliances, hard-wood floors, and beautiful tiled bathrooms all at a price you can afford. Parking is available for purchase.

Virtual Tour just in case…

Don’t miss this fantastic open house opportunity! 

This property is presented by the Luxury Division of Brandon Green.  A fabulous contemporary condo in the cosmopolitan neighborhood of Dupont Circle.  Space abounds in this 2 bedroom, 2.5 bath beauty.  You are welcomed by a striking foyer with stone flooring and rich hardwood.   And the gallery is simply spectacular.  The great room has an abundance of natural light and a handsome fireplace.  The kitchen is immaculate featuring granite countertops, hardwood floors, and stainless steel appliances.  The master suite space is substantial highlighted by the walk-in closet, storage room, and an entrance to the sunroom, where the view of Rock Creek Park is one of a kind.  Stone tile and a relaxing soaking tub are some of the exceptional traits of the master bathroom.  The unit is also wired with a Bose sound system, the amenities seem endless.  This property is a MUST SEE!

Virtual Tour (if you’d like, but it’s nothing like the real thing!) 

Foggy Bottom condo that you have to see! 

Recently renovated, this lovely 1 BR/1BA condominium features a Den/Study, beautiful hardwood floors, granite countertops, stainless steel appliances, and a private balcony.  There will not be off street parking for you, as this condo also has garage parking!   The condominium fees are $693 per month and include the following:  Billiard Room, Concierge, Security, Exercise Room, Pool, Custodial Services Maintenance, Exterior Building Maintenance,  and much more.

Don’t miss this one Virtual Tour

DC Condos/Coops:
September saw a leveling off of prices across the city for condos and coops and a 5.1% increase in contracts in comparison to Sept 2008.  A 12.6% decrease in inventory means the competition for condos and coops is getting tighter across the city.  Zip codes 20001-20016 are moving quickly and inventory that is well priced is commanding multiple offers and in some cases escalation.  We are still challenged by lenders who aren’t getting documents to the table on time and a very large majority of contracts are FHA. 

It is a tale of two cities in DC however, as many of the condos in 20017, 20018, 20019, 20020 zip codes continue to see a dramatic decrease in price of nearly 30% from this time last year and a decrease in contracts of 10%. There is almost no owner occupant market in those zip codes right now and so the majority of offers we see are from investors.  Complicating matters are bankrupt condo associations with high foreclosure rates making it nearly impossible to finance many condos in those zip codes.  This pushes us back into the cash market where investors are buying at $.50 on the dollar.  

DC condos/coops: http://gcaar.com/uploadedFiles/PDF/ToolKit/Research/Home_Sales_Statistics/DC_Condo_Coop/dccc0909.pdf

DC Houses:
Inventory for DC houses is down 18.5% in comparison to this time last year, and contracts are up 20%.  The average price is down nearly $100,000 and seems to have reached a level that is peaking the buyer’s interest.  Again, it is a tale of two cities however as houses in 20017-20020 zip codes aren’t moving much at all.  Prices continue to fall dramatically in those zip codes.  If however the listing is in 20001-20016 then multiple offers will likely ensue.
 
DC houses: http://gcaar.com/uploadedFiles/PDF/ToolKit/Research/Home_Sales_Statistics/DC_Single_Family/dcsf0909.pdf

There is some indication that the fall market might be setting in.  Traditionally activity begins to slow as we move into November and our “on the ground” reports indicate the last couple weeks are much slower than the previous several.

Keep an eye on interest rates as we move into the winter.  If they remain around 5% the market will likely rebound into next year, even if the tax credit is not extended.

For more details or analysis in your area, call me, I’d be happy to look at your individual situation.