tag:blogger.com,1999:blog-13164186.post112709026763022874..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: Washington, DC: 1214 Geranium Street NWDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-13164186.post-1127361771784465112005-09-22T00:02:00.000-04:002005-09-22T00:02:00.000-04:00Rental market in DC is still OK. On Housing Bubble...Rental market in DC is still OK. On Housing Bubble 2, the NOVA guy said $1.1M properties in the outer suburbs rent for around $2500/mo. My place in the city is good for abour $4K/mo (basement apt and main house) and maybe is worth $850K - so the city proper seems much more favorable in terms of rental return - not that 5% is so great.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1127130815687506612005-09-19T07:53:00.000-04:002005-09-19T07:53:00.000-04:00The owner lives in Spring Valley, which is a wealt...The owner lives in Spring Valley, which is a wealthy neighborhood in DC proper. <BR/><BR/>DC does indeed have a very strong rent market due to the transient nature of the town. Lots of high paying jobs here.<BR/><BR/>The last house I feature is still unsold. I guess the realtor did not buy it like he said he might. Great pressure tactic. I expect one more price reduction before it sells.Davidhttps://www.blogger.com/profile/11169148764438565562noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1127106738189451942005-09-19T01:12:00.000-04:002005-09-19T01:12:00.000-04:00I live in the DC area and went to a 555 Mass Ave c...I live in the DC area and went to a 555 Mass Ave condo open house last week. It was packed with investors, but the condo was built by JBG Group as an apartment complex originally, and it looks real crappy in my opinion and is on Mass ave near a homeless shelter and the projects. Asking price? Upwards of $450K for a 1 bedroom and den. <BR/><BR/>Might I go out on a limb here and say that lots of rowhomes/apts in upscale hoods will always have renters interested in renting? <BR/><BR/>I own a rowhome near the MCI Center and I've had tons of lawyers, Georgetown Law students, Capitol Hill interns/aids, non-profit associations, etc express interest in the last two years I've been renting it out profitablly. I think quality rowhomes in that area will always have renter interest (if priced right of course, and cash flow positive, which I am). Anybody care to opine on DC's transient renter nature? Don't you think there will always be people coming/going into DC?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1127101536826562922005-09-18T23:45:00.000-04:002005-09-18T23:45:00.000-04:00I'd say it's at least twice as big as the 1943 one...I'd say it's at least twice as big as the 1943 one you showed us in Silver Spring last week, and they reduced the price on that one to $489,000, down from $519,000. (Is it still unsold?)<BR/><BR/>Offhand, this 3700 sqft house would seem to be more 'reasonably' priced, bearing in mind the location is D.C.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1127095492504519002005-09-18T22:04:00.000-04:002005-09-18T22:04:00.000-04:00What I find interesting is that of my past two op...What I find interesting is that of my past two open house visits, both times the relator said that if it is not sold soon then someone else ( investors/ owner or Realtor ) will buy. it. It is a pressure tactic.Davidhttps://www.blogger.com/profile/11169148764438565562noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1127094687364675192005-09-18T21:51:00.000-04:002005-09-18T21:51:00.000-04:00David,This just shows that the word "investor" is ...David,<BR/><BR/>This just shows that the word "investor" is thrown around very loosely. They are called investors on the way up, will they be called divestors on the way down?njdochttps://www.blogger.com/profile/01094428473307499800noreply@blogger.com