Report from Capitol Hill Neighborhood in Washington, DC

Yesterday, a friend and I went touring the Capitol Hill neighborhood in Washington, DC. The Capitol Hill neighborhood is located directly to the east of the US Capitol. It is a historic expensive and gentrified area.

There were so many homes for sale especially on the fringes of the neighborhood. One house that we toured was in need of renovation and located near the Potomac Avenue Metro Station.

I got talking to a friendly Realtor and he said three significant things:

• He bought 8 condo units. Yikes!
  
• Condo prices are declining.
  
• Condos are more vulnerable then single family residences due to the overbuilding in the condo market in the Washington, DC area.

Truly bubblicious. Not much traffic at the open houses in the neighborhood.