Washington DC Real Estate
Washington DC real estate has been a whirlwind of redevelopment the past 5 years. Some neighborhoods with negative reputations have become transformed into ultra-hip villages where one can hardly squeeze in with $300,000 for a one bedroom condo. Large portions of DC, often blocks long and no longer recognizable as many blocks of Washington DC real estate have been torn down and replaced with many brand new buildings. Most zip codes such as the Logan Circle (2005) appreciated 20% or more in the last year (2004-2005). This has been going on for several years and the question is what is driving Washington DC real estate to appreciate and be revitalized? The answer is jobs, jobs, jobs.
Just in the first 2 months of the 3rd quarter of 2005, nearly 10,000 jobs were added to the payrolls of Washington DC dropping unemployment in the district from 7.4% to 6.3%. This type of job growth has been going on several years and solid growth in expected for new jobs in coming years. Thus the demand for Washington DC real estate has been tremendous causing many builders and investors to rise up and meet that need. Itís the American way :)
So if youíre interested in Washington DC real estate, do take advantage of the tools such as automated listing updates, articles, etc. For example, recent years listing agents have often purposefully priced their listings up to $100,000 below the market values to get 10+ contracts on a property bidding against each other. How is the typical buyer supposed to have any idea that the real value of the home listed is not the list price, but $100,000 over? They probably are not going to have a clue unless theyíve been educated on the market through a good selling (buyer) agent explaining the game to them. How does the time of the year relate to how to write your contract for Washington DC real estate? Well thatís what the articles are for. Take advantage of the many resources available here.
There is no town like Washington DC in the United States...so much history, architecture and culture all to be found in one place. The entire world is here like no other place on earth. And Iíll do my best to make you feel at home in the buying process to make it as worry free as possible with my insight.