your predictions for "hot" neighborhoods in DC next year?

[Anonymous]

Anonymous wrote:Ft Dupont poster here

Yeah, I'm surprised by the person who said that flippers were renting out the places. All the flips in my neighborhood have been sold. Just these past 6 months there are have been two flipped houses, each bought for ~$150K and then sold for $399K and $420K, respectively. There's another flipped house pending for $440K one block over. I don't know of any renters here.

PP said investors rehabbing and renting out, not flippers. Flipping by definition means resale. You would not see the buy and hold investments because they are bought but never come on the market again.

[Anonymous]

Deadwood

[Anonymous]

Anacostia and that place where the Park 7 development is? Further down from H street and across the river. Minnesota and Benning?

[Anonymous]

Am I the only one who still thinks H street is a shit show? I drive it every day and see numerous drunk/drugged-out messes by noon. Do the people buying the $1m houses just a block a way not see this?

[Anonymous]

Anonymous wrote:Riggs Park is already over priced and homes are sitting, the same with Michigan Park.

I think the area surrounding H street and outward will be hot.

The stuff that's still on the market now is over-priced, and that's why it's sitting, but homes that were priced in line with comps and their actual condition have sold quickly. I think anything that's been on the market for more than a month or two in any DC neighborhood probably is overpriced for what it is. I'm not sure how much more price appreciation there can be in the greater H street area--how many more hipsters can there be with at least $600,000 to spend?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I predict that Anacostia will start to become hot. It would happen eventually, but Marion Barry finally leaving the scene will also be seen as a symbolic new beginning in that area and will accelerate the change.

Historic Anacostia has a lot going for it. Metro, nice housing stock in a village-like setting, near the river and national park. It would be silly to choose not to live there because of Marion Barry being Ward 8 councilman, if you're willing to handle other issues facing that community.

I have seen some really nice renovations in Anacostia go incredibly fast and for so low money it is shocking. Anacostia is slowly coming up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Riggs Park is already over priced and homes are sitting, the same with Michigan Park.

I think the area surrounding H street and outward will be hot.

The stuff that's still on the market now is over-priced, and that's why it's sitting, but homes that were priced in line with comps and their actual condition have sold quickly. I think anything that's been on the market for more than a month or two in any DC neighborhood probably is overpriced for what it is. I'm not sure how much more price appreciation there can be in the greater H street area--how many more hipsters can there be with at least $600,000 to spend?

I agree that the price appreciation around H Street is wild, but the buyers aren't hipsters. They are pretty much yuppies--some with artistic inclinations--as far as I can tell. I live here, and those are my neighbors.

[Anonymous]

I agree with Anacostia. With the revitalization of SE, near the Navy Yard (Nats Stadium, The Yards, The Wharf, new soccer stadium coming, etc.) I think this would be the next logical place to see revitalization and growth.

If I knew nothing about the area and looked at a map of DC, I would think that Anacostia would be a great location to live.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Riggs Park is already over priced and homes are sitting, the same with Michigan Park.

I think the area surrounding H street and outward will be hot.

The stuff that's still on the market now is over-priced, and that's why it's sitting, but homes that were priced in line with comps and their actual condition have sold quickly. I think anything that's been on the market for more than a month or two in any DC neighborhood probably is overpriced for what it is. I'm not sure how much more price appreciation there can be in the greater H street area--how many more hipsters can there be with at least $600,000 to spend?

I agree that the price appreciation around H Street is wild, but the buyers aren't hipsters. They are pretty much yuppies--some with artistic inclinations--as far as I can tell. I live here, and those are my neighbors.

Correct. Yuppies own the home, hipsters rent out their basements.

[Anonymous]

Oh, I don't know. I used wonder how many more people out there could afford those homes WOtP. And there seems to be a never ending supply. Maybe it's yuppies buying in the H St area, but I wouldn't be surprised if there are plenty of hipsters who can afford $600,000 homes. DC seems to attract people that have enough money to afford to live there. And which pretty much drives these conversations about yet another hot area.

[Anonymous]

Anonymous wrote:I think Congress Heights is the next hot area. It's close to 295, has a metro stop, plenty of available housing stock and friendly neighbors.

I honestly think with Mayor Barry no longer in the picture, you're going to start to see a new movement to settle East of the River. He was a bridge to the past and people hung on to him, but the city is ready for change.

I have a friend who lives in the cutest little development (I know, I know, not very authentic, blah blah) close to congress heights. I love her townhome and I bet its going to triple in value (bought 10 years ago)

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think Congress Heights is the next hot area. It's close to 295, has a metro stop, plenty of available housing stock and friendly neighbors.

I honestly think with Mayor Barry no longer in the picture, you're going to start to see a new movement to settle East of the River. He was a bridge to the past and people hung on to him, but the city is ready for change.

I have a friend who lives in the cutest little development (I know, I know, not very authentic, blah blah) close to congress heights. I love her townhome and I bet its going to triple in value (bought 10 years ago)

Henson Ridge? http://www.washingtonpost.com/wp-dyn/content/article/2009/12/13/AR2009121302939.html

"But then cars were stolen. Homes were burglarized. And when stray bullets crashed through windows and walls, residents could no longer deny that the neighborhood's violent past had resurfaced like a stubborn ghost. "

[Anonymous]

Anonymous wrote:I bought off of H Street ten years ago, and that describes what it was like. There was a coffee shop that closed down and restaurant that closed down as well. That was the time to buy. If I were ten years younger, I would move out there.

H street didn't need the amenities as badly - it was adjacent to the Hill. People renovated block by block from the Hill - IE they renovated a house a block away from a block that already had renovated houses. Then the houses on the newly renovated block made possible renovation a block further north. Ditto for Hill East/Potomac Gardens. HA is not in that position. You can't start at M Street SE, and develop/renovate one block at a time till you hit MLK - because of the geographic barriers - 295, AND the park, AND the river.

That doesn't mean its time won't come, but it will take something more than H Street and more than Hill East.

Meanwhile its good to hear there is appreciation EOTR generally, but how much of that is late recovery in areas hard hit by foreclosures, rather than real transformation?

[Anonymous]

Cathedral Commons

[Anonymous]

Another thing going for historic Anacostia is the new 11th Street Local Bridge, the companion to the new I-695 freeway bridge. The connection to the area around the Navy Yard and Nats Park, and up to Capitol Hill, is now so much easier, both for vehicles and for pedestrians and cyclists.

http://www.jdland.com/dc/11bridges.cfm

(The streetcar someday could run on that bridge as well, but I'm not holding my breath.)