Posts Tagged ‘Washington D.C.’
Study: Washington D.C. Has the Strongest Commercial Real Estate Market in U.S.
K Street downtown
Yesterday the Urban Land Institute released its annual survey on commercial real estate across the country naming D.C. the number one “recession-proof city,” ahead of San Francisco, Boston, Austin, and New York.
This is really no surprise. Though I recently posted on a vision—laid out by New York magazine—about artists transforming empty office spaces into the new loft studios, the truth is neither their city, nor our’s has suffered much in terms of office vacancies. As of last month, D.C.’s office vacancy rates were up “sharply” from the previous year, but they still remained the second lowest in the country, according to the Washington Business Journal.
Read More “Study: Washington D.C. Has the Strongest Commercial Real Estate Market in U.S.” »
Another Taneja Mansion Up for Sale!
Since July, I’ve been blogging about Vijay Taneja, the Bollywood producer and local real estate titan turned convict serving time for conspiracy in connection with a mortgage fraud scheme.
Why so many posts? Well, so many auctions! Such a sprawling portfolio of real estate.
In the last year, auctioneer Tranzon Fox has sold Taneja- owned properties in Fairfax, the Outer Banks, and Potomac, and now Tranzon’s about to make one more available to the highest bidder.
Graph: Comparing Washington D.C. and Metro Area Home Values 2004-2009
This graph exhibits the median “Zestimate valuations“—Zillow’s estimated market value of properties—for Washington D.C. and the Washington region in the last five years. This graph was calculated on 09/09/2009.
Washingtonians Feeling More Confident About Housing Market
Fewer Washingtonians are willing to lower their home asking prices, according to a new report out by Trulia on Friday. The amount of price reductions has dipped 17 percent in the region’s housing market, comparing June 2009 to August 2009 numbers.
Here are some other cities experiencing the trend:
- Dallas, TX – 42% fewer price reductions
- Las Vegas, NV – 33% fewer price reductions
- Louisville, KY – 33% fewer price reductions
- Los Angeles, CA – 19% fewer price reductions
Read More “Washingtonians Feeling More Confident About Housing Market” »
HGTV Casting in D.C.-Area for “My First Place”
HGTV is casting for its show “My First Place” in Philadelphia, Portland and the Washington D.C/Baltimore area. If the first-time home purchase process isn’t daunting enough, the application for the show is twenty five questions long, with little more than a promise of a “once in a lifetime experience,” “a specially chosen gift” for your home, and—now this is good—a complimentary copy of your own episode—Anyway, not my thing (not that I’m in the market.) But clearly HGTV’s millions of viewers feel differently. The press release is below, and here’s the HGTV “My First PLace” application.
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Prince William County Ponders Ferry Service
View more news videos at: http://www.nbcwashington.com/video.
Prince William County is considering launching a ferry service to Washington D.C. Might this be the way to revive the area’s foreclosure-battered real estate market? Read More “Prince William County Ponders Ferry Service” »
Affordable Housing (Not Quite) a Top Priority in the DC Area
Some 14 percent of D.C.-area residents said that affordable housing (or lack thereof) was a leading concern in the region. Transportation issues came out on top, followed by “Economy/Jobs” and, well, you can read the rest.
The report was released today by the Metropolitan Washington Council of Governments (COG). The organization polled people from around the region, not just in D.C. proper, which has got me thinking about how Washingtonians would rearrange these priorities. Read More “Affordable Housing (Not Quite) a Top Priority in the DC Area” »
Rents Are Rising in Washington D.C.—Unlike Anywhere Else
A Woodley Park Apartment building
Well, Houston’s the exception (incidentally the last major city I lived in).
But it’s true: That city and the District are the only two major urban centers nationwide where rents are increasing or staying stable, according to Forbes magazine.
I experienced this trend myself last fall when my Columbia Heights rent rose $40 from the previous year’s rent. And that was with some negotiating! First, we had to point out to the landlord that the hike she proposed didn’t entirely adhere to city policy. Read More “Rents Are Rising in Washington D.C.—Unlike Anywhere Else” »
