Posts Tagged ‘Condos’
Ten Ten Mass Sold Out
Perhaps the first-time homebuyers credit—which was set to expire by Nov. 30, but now is being extended—has been good to D.C.’s condo market. It looks like for-sale condos are being snapped up around the city.
Last week, we heard that Union Row, the mammoth 14th Street complex with some 270 units, was nearly sold out. This week, McWilliams|Ballard announced that Ten Ten Mass, located near Mount Vernon Square, had finally unloaded the last of its 163 condos.
State of the D.C. Condo Market: Prices May Rise, Apartment Projects May Go Condo Soon…
Delta Associates third quarter condo report was released yesterday, and the numbers look good—well, better than usual—for the District. I did not spot the term “condo glut” once. In the last few months, several projects were cancelled and a few were “reprogrammed,” but Delta expects that demand will rise again soon here and across the river in Arlington and Alexandria. As we reported during the last go-round, it looks like prices won’t be falling too much more.
- In the last year, condo prices dropped three percent in the District, compared to six percent in the entire metropolitan area.
Read More “State of the D.C. Condo Market: Prices May Rise, Apartment Projects May Go Condo Soon…” »
Manna Plans New Condos in Anacostia
Occasionally, I find myself inexplicably writing over and over, the same day, about the same area of the city.
Today, the mini onslaught comes from the east of the river neighborhoods—or if you please “River East.”
DC MUD is reporting that there are 24 new condos in the works—Condos! Imagine that! It actually may be time to build some more—in the city.
Renovated Condo, Complete With Cats
The kittens at the Animal Welfare League of Arlington live differently than the adult cats. Adult cats—including Sheba, the even-temptered black 10-year-old and Bennett, the 11-year-old orange tabby—have a divided, single-level home they can crawl through. But the kittens get the most affordable condo in Shirlington.
Ten Questions for the Dude Behind “Arlington: The Rap”
It’s still a good day to be a gangsta in “Arlington: The Rap,” but Remy Munasifi is moving on. Creatively (to a video for the Tax Foundation), not physically. The star of the smash NoVa hit on YouTube (as well as “Partly Cloudy: The Rap” and the only slightly less-hilarious one about 2 percent milk) actually does love him some Clarendon.
His homage to his new hood—he grew up in McLean and moved to Clarendon about a month ago—went up mid-June, caught e-mail and Facebook fire, and is now getting a touch cold. Still, for those of you who have yet to experience the existential question: “Why are all these dudes wearing brown flip flops??,” here you go:
Housing Complex notes that some of the filming took place in Munasifi’s phat Clarendon pad. Munasifi agreed to play along with this angle. As a result, we bring you…
Ten Questions for YouTube Star GoRemy:
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And You Think Our Condo Glut’s Bad…
Much has been said about D.C.’s condo glut. But, the truth is, housing forecasters aren’t telling the same story they were a year ago. As I wrote in mid October, Delta Associates third quarter condo report noted 174 sales in the District, the highest quarterly total in over a year, and two thirds of all sales this quarter in the metro area. A mid-month article in the Washington Business Journal also quotes Delta’s condo researcher William Rich projecting a huge growth in condo sales in the coming year.
“With mortgage interest rates remiaing low and job growth rates remaining on course, we expect a net sales pace of 3,000 to 3,500 per annum over the next two years,” he says. Last year, sales totaled 1,458. Rich projects this year’s will be about 1,600. But he stands by the 3,000 projection for next year, even if there is a recession. Rich says that more than 3,000 contracts have been signed in the last year, and the net sales figure reflects high cancellation rates for buyers who signed before projects delivered.”
So, good news for condo sellers here. Now, check out stats reported by New York magazine, which did a neat little roundup of new condo buildings, how long units have been for sale, and how many condos are sold or under contract. Here’s a peek: One Madison Avenue 40-unit building has been on the market for 30 months, with 15 listings still available, and ten units being rented out. Read More “And You Think Our Condo Glut’s Bad…” »
