Washington D.C. Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Washington D.C. News

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Dec. 29, 2022

12/29/22

 

 

Did You Know?

There is about 998 million square feet of vacant office real estate across the US. What looks like a catastrophe to many building owners presents an opportunity, a possible catalyst for converting some older office spaces to new uses and transforming downtown neighborhoods into areas where people can also live, especially as the US faces a deficit of more than 3 million homes. City and business leaders from New York, Chicago, Philadelphia and Seattle last month began a series of meetings, convened by the Brookings Institution, exchanging ideas on re-envisioning the future of their downtown business districts. If all this square footage was converted, roughly 800,000 1,200sf apartments could be created, well short of the 3 million needed due to extreme underbuilding over the past 12 years. 

 

 

 

Posted in Community News
Dec. 28, 2022

12/28/22

 

 

Did You Know?

In November, as concerning housing data continued to emerge in China, authorities appeared to reconsider the dangers of debt. The government unveiled 16 support measures for the property sector. Then state-run banks pledged around $256 billion in potential credit to specific developers. Property investment fell 20% year-on-year in November and property sales fell by a third in both volume and value. (FT)

 

Did You Know?

Internationally, it is now estimated that cases of autoimmune diseases are rising by between 3% and 9% a year. Most scientists believe environmental factors play a key role in this rise. Many believe a healthy diet with organically grown, fiber rich foods can make a big difference. Around the globe we have recently witnessed how poor health impacts.....real estate! Many people too ill to work, cannot earn.....or pay mortgage/rent payments.

Posted in Community News
Dec. 27, 2022

12/27/22

 

 

Did You Know?

According to Mastercard,  U.S. retail sales rose 7.6% between Nov. 1 and Dec. 24, which encompasses a majority of the holiday season. That's down from the 8.5% jump a year ago with much higher inflation, just above 7%.

 

Did You Know?

Global stocks have dropped around 20% this year, while bonds have delivered their biggest declines in decades, making 2022 a year to forget for most asset managers. But hedge funds/macro funds on average gained 8.2% in the first 11 months of 2022!  Computer-driven hedge funds have also benefited, with many of the market moves providing long-lasting trends..... up 12.6% their best year of returns since 2008. Equity hedge funds have not fared well, down around 9.7% on average. (FT)

Posted in Economy News
Dec. 26, 2022

12/26/22

 

Did You Know?

The 30-year fixed-rate mortgage averaged 6.27% as of December 22, according to data released by Freddie Mac on Thursday. That’s down 4 basis points from the previous week — one basis point is equal to one-hundredth of a percentage point. Rates have dropped for the sixth week in a row. Rates were last at this level in mid-September. Last week, the 30-year was at 6.31%. Last year, the 30-year was averaging at 3.05%. (CNBC)

Did You Know?
Newly built homes grew to represent an increasing share of homes for sale in the U.S. this year up to a record high of 29% of single-family listings during the third quarter of the year. In November, 36% of builders offered price reductions and 59% offered other incentives to buyers, which is relatively high and has been increasing since July, according to the NAHB. However, this is below the peak of 59% of builders offering price reductions in October 2007, as the housing market began to shift.(Mansion)

 

Posted in Real Estate News
Dec. 23, 2022

The Coolest Neighborhoods in Washington, DC

 

 

The Coolest Neighborhoods in Washington, DC


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Alt-tag: A skyline of the coolest neighborhoods in Washington, DC.

DC is more than simply where our federal government is located. This city is very popular because of its abundance of cultural attractions, historical sites, delicious food, and varied population. So, if you need a place to move to, you should learn about the coolest neighborhoods in Washington, DC!

Some individuals who work in Washington, DC, choose to reside in the suburbs located in the cities around the capital. Others, though, choose a DC area because they like being in the thick of things. Each neighborhood has its own character and amenities, so it's important to choose the one that suits you best.

Georgetown

The Georgetown area and university are situated in northwest D.C. Due to its prominence as a trading post during colonial times, the region has a rich history. The area's upscale eateries and bars are a hit not just with locals and visitors but also with the local college crowd. As a very expat-friendly neighborhood, it is home to a sizeable expat community. Dining, cycling, and boating are just a few of the popular pastimes that draw people to Georgetown's waterfront. Georgetown will convince you that Washington, DC is the place for you if you're still on the fence. Because of Georgetown's diversity, you'll never feel out of place here, and the locals will treat you like family. It's one of the most welcoming communities and definitely one of the coolest neighborhoods in Washington, DC!

A bird in the water

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Caption: Georgetown Waterfront Park makes it one of the coolest neighborhoods in Washington, DC!

Capitol Hill

You can't go within an hour of Washington, DC's political core without driving through Capitol Hill at least once. It's one of the city's most prominent and oldest neighborhoods. The United States Capitol is a short stroll away from here. It's not only an excellent place for families to live but also for those who want to just visit. Most of the structures in this area are rather ancient and were constructed in a wide range of architectural styles and time periods. You can just stroll around and look at all the magnificent houses with impeccable curb appeal!

Here, you can also find some of the city's finest food markets and dining establishments. This region is home to a number of markets, including an Eastern market and a flea market. If you’re adventurous with your shopping, this is perfect for you! This is a great place to live since there is always something going on.

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Caption: Capitol Hill is one of the best places to live in DC!

Dupont Circle

If you're looking for a place to live in Washington, DC, you might consider Dupont Circle. This district is a shopping, dining, and entertainment mecca. It's in the heart of a traffic circle, making it a popular place for locals to hang out and socialize. There are two museums worth seeing in this area: the Philipps Collection and the National Geographic Museum. This section of the city functions as a little town in itself, complete with a wide variety of bars, eateries, and quaint homes from the turn of the century. It's also convenient since several embassies are situated nearby. Because of this, the Dupont Circle area is very desirable for international residents, too.

Chinatown

Despite its small size, Chinatown is often regarded as one of the coolest neighborhoods in Washington, DC. Both locals and tourists enjoy its many cultural attractions. It's also possible to get authentic Chinese food in Chinatown. Within a radius of only a few miles from each other, you may visit any one of at least twenty different Asian and Chinese eateries. Both the Daikaya, known for its ramen, and the Izakaya, known for its drinks and snacks, are constantly bustling with customers. Full Kee Restaurant serves a wide variety of Chinese dishes, from hot and sour soup to fried wontons. Chinatown has an annual Chinese New Year Parade that is worth seeing if you want to learn more about Chinese customs and history.

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Caption: Chinatown is endless fun for everyone!

Navy Yard

This region of Washington, DC, stands in stark contrast to the more historic neighborhoods around. Despite its history in the industrial sector, the area now has two parks totaling 10 acres. Therefore, it has a rare blend of city life and open space. That adds to Washington's already impressive variety of architectural styles. There are more than 50 restaurants in the surrounding neighborhood, so you can always have something different to eat. You'll love all the great parks and cafes in the area, where you can have fun without spending a dime. The abundance of activities makes it clear why this is one of the best neighborhoods in DC!

Foggy Bottom

Quite a few young professionals and foreigners choose to settle in the area because of its inexpensive cost of living, close proximity to the National Mall, and quick access to Capitol Hill. It’s very well connected, so if you’re moving from Maryland to DC, you’ll have no problem and can reach the city with ease by hiring interstate movers. Foggy Bottom is located just southwest of the central business district- Capitol Hill. Plus, it contains many of the city’s most famous landmarks, such as the Kennedy Center and the State Department!

Shaw

Shaw, one of the city's oldest districts, is home to a tempting array of culture and culinary specialties. Little Ethiopia, an Ethiopian restaurant, and the Howard Theater may both be found in this area. It is one of the city's newest and most popular areas, and it has a vibrant dining and nightlife scene, as well as several shopping opportunities. The media has been all over it recently. There's a solid reason for it- this trendy section of DC is among the best in the whole city.

Adams Morgan

Adams Morgan is known for its unique culture, which can be seen in the many antique clothing stores, historic row homes, and cutting-edge eateries that can be found there. Commuters will find this interesting area convenient since it is located just a few bus stops from downtown Washington, DC. Adams Morgan is one of the best places to live in since there's always something exciting going on there. It's also a great place to live if you're a young professional in the nation's capital. Both the hedonists and the workaholics can find what they're looking for here!

Final words

In this guide, we've tried highlighting some of the coolest neighborhoods in Washington, DC. Perhaps you've finally found the perfect spot to settle down. Washington has so much to offer, and you'll surely fall in love with it quickly!

Meta: Are you looking for a great place to live in DC? Well, this article will tell you all about the coolest neighborhoods in Washington, DC!

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Posted in Real Estate News
Dec. 21, 2022

12/21/22

 

 

 

Did You Know?

US Building permits dropped more than 3X expectations - by 11.2% (vs. -3% estimates) - 1.342 million annually versus 1.48 million estimate. Housing starts annualized were higher than estimates at 1.427 million. Single family building permits were down 7% month-to-month....but multi-family permits were down nearly 18% month-to-month as signs of cooling rent hikes emerged. (CNBC)

 

Did You Know?

We should watch the impact on world economies as China re-opens: usually the first thing to spike in price is oil and commodities.....  (CNBC)

Posted in Economy News
Dec. 20, 2022

12/20/22

 

 

Did You Know?

Critics of the Federal Reserve’s aggressive strategy have said the central bank risks overshooting on its interest rate goals by keeping them too high for too long....and the speed of interest rate hikes this year, which have left little time to evaluate the effect of each hike on inflation and the state of the economy. Billionaire Bond Investor Bill Gross warns one of the things the Fed may be missing is the “dangerous” levels of hidden leverage and debt—off-balance and largely unregulated debt (around $65 trillion)—that is circulating in the economy right now.

 

Did You Know?

Builder sentiment in the single-family housing market dropped two points to 31 in December on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative. This is the 12th straight month of declines and the lowest reading since mid 2012. While the index stood at 84 in December 2021, this was the smallest drop in the index in the past 6 months, indicating that we are possibly nearing the bottom of the cycle for builder sentiment. Mortgage rates are down from above 7% in recent weeks to about 6.3% today, and for the first time since April, builders registered an increase in future sales expectation

Posted in Economy News
Dec. 19, 2022

12/19/22

 

 

Did You Know?

Rising rates have dramatically increased the cost of buying a home this year, reviving interest in mortgage products like temporary buydowns that fell out of favor after the 2008 financial crisis. Temporary buydowns offer steep but short-term savings on mortgage rates. Borrowers get a much lower rate in the loan’s first year that gradually increases until it resets to a rate in line with market conditions at the time the loan was made. They differ from standard buydowns, in which buyers pay an upfront fee to permanently lower the loan’s rate. And unlike adjustable-rate mortgages, the loans reset to a fixed rate. Buyers typically don’t cover the cost of temporary buydowns. Home sellers, lenders and builders can use temporary buydowns to win over buyers concerned about high rates covering the difference between the actual mortgage rate and the rate the buyer pays, stashing those funds into a custodial account that the lender dips into each month.  (WSJ)

Posted in Economy News
Dec. 16, 2022

12/16/22

 

 

Did You Know?

Utilities and consumer groups have argued the incentive payments have unfairly favored wealthier consumers and harmed poor and low-income households. But solar companies and renewable advocates have said that lowering the compensation would slow solar installations and hinder the state’s goals to address climate change. More than 1.5 million homes, businesses and other utility customers in California have rooftop solar panels and many are paid for the excess power they generate, but now a utilities commission has decided unanimously to cut the payments for creating this extra energy. It is estimated that these installations can collectively produce 12 gigawatts of electricity.

 

 

Posted in Community News
Dec. 15, 2022

12/15/22

 

 

Did You Know?

While the FED hiked rates another half point - even while inflation is coming down and there are numerous indicators that price hikes are halting - Mortgage applications to purchase a home rose 4% for the week, but 38% lower than a year ago. Mortgage applications to refinance a home loan rose 3% last week from the previous week but were still 85% lower than the same week one year ago. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) did increase ever so slightly last week to 6.42% from 6.41%.  Interest rates slid Tuesday after the release of the November consumer price index.(CNBC)

 

Did You Know?

Between 2015 and 2020, the nation’s supply of affordable housing - defined as housing units with rents less than $1,000 per month - declined by 4.7 million units. (MULTIFAMILY DIVE)

Posted in Economy News