Tuesday, March 14, 2006

2 For Sale Signs & Under Contract Sign in DC

Location: Small Condo Building @ 1900 S Street NW in Washington, DC


  1. These signs certainly seemed to be going extinct in recent years. But they are back.


  2. I've been driving around DC more lately, because I'm looking to rent a house in another month. Tons of for sale signs, especially in the fringe areas like Petworth, Brookland, etc. There are some good deals on rentals in these areas too, as owners are not able to sell right now.

    These fringe areas saw lots of speculation on the way up, and I bet that the slowdown isn't going to be so kind.


  3. Maybe on the way down, we can call it the Housing Hydra- you sell one property, and two more go on sale in its place.

  4. (Under Contract) #DC5551739
    1900 S ST NW #2
    Purchased 2/25/04: $275,000
    Asking Price: $339,000
    Sale Price: ?

    (For Sale) #DC5507644
    1900 S ST NW #302
    Purchased 11/26/03: $334,500
    Asking Price: $559,900
    Sale Price: ?

  5. Steinravnik,

    I live in the Petworth neighborhood and I agree, its alot of For Sale signs. I don't think I've traveled one block without noticing at least one or two of them.

    That reminds me, I still need to snap a photo of those 6-7 grouped For Sale signs by my job at Park Center.

    It's going to be interesting to see how all of this unfolds.

  6. Stephanie 81,

    How is it in Petworth, near the metro stop at Ga Ave.? I've seen some rentals at various crossroads and Ga Ave. Ga Ave. seems kinda sketchy. If I look in Petworth, would I do better to get something more interior, away from Ga. Ave?

  7. Steinravnik - Sketchy is the word! I've rented a couple different places around DC in the past two years. If you nose around, you can find a deal. Just try and deal directly with landlords - their interest is in filling vacancies. There are a lot of "management companies" that overprice their rental units - and they sit empty - just like overpriced houses for sale...

    If you're looking for cheap and sketchy, be sure and drive around your prospects at night - that will give you an idea of what you're dealing with. Good luck.

  8. Ha! I live right near this corner, and I saw these three signs as I was on my way to Starbucks - Wendy there was just hanging up her shingle as I was walking by.

    There are certainly a lot of for sale signs around Dupont/Logan/U, but not as many as I saw last November, when my running partner and I would count signs on our run and see who got the highest number. Most of those places seemed to have been pulled off the market in December - I wonder when that inventory is going to pop back on the market?