CRE in DC

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hope this will be more sustainable than it seems?

Astonishing that Bowser is not prioritizing reciprocity re: camera fines and leaning on the Council to allow reporting to collection agencies. Not just for public safety but bc it's one of the few stronger revenue streams?

Do you live under a rock? They can't get reciprocity. MD and VA won't agree to it and we are not a state. This is the challenge with not being a state! Geez!

Why are low information posters always so dismissive and rude?

A regional transportation planning body made up of local governments recently began trying to nudge the District, Maryland and Virginia toward dealing with the disconnect.

https://www.washingtonpost.com/transportation/2021/12/28/dc-virginia-maryland-ticket-reciprocity/

From the cached version of a DCist article (RIP DCist)

D.C. Didn’t Ask Northam And Hogan To Help Crack Down On Ticket Scofflaws, Despite Initial Claims It Did

https://dcist.com/story/21/10/14/dc-didnt-ask-northam-and-hogan-to-help-crack-down-on-unpaid-tickets-despite-initial-claims-it-did/

VA is particularly interested in tickets issued by LE, so they go to the driver not owner. In DC and MoCo, legislative bodies seem to frown on LE making traffic stops and have actively discouraged stops, in MoCo talking about an outright ban.

Once again, ideology trumps safety and finances.

Naught to do with "statehood" PP.

If DC does not begin to reverse course, even Home Rule without a fiscal control board may come into question. It is the recall supporters who are trying to protect LIVES and Home Rule.

[Anonymous]

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

[Anonymous]

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

[Anonymous]

A worksheet to give a sense of the fiscal challenges that are ALREADY here and it will only get worse...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

This. Our neighborhiid in Ward 3 is considered a pearl clutchy suburb in the city. Derided by the hipsters for a lack of "vibrancy". Fair. But now everyone is seeing the appeal. Hipsters with baby strollers dont want to be hit by stray bullets. This and to some extent the schools explains the resilience of Ward home prices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

That's not true. I live near Takoma DC. We haven't seen a big spike, but our values are definitely down. I think it's more perception.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

That's not true. I live near Takoma DC. We haven't seen a big spike, but our values are definitely down. I think it's more perception.

With that said, our prices are still way up since the pandemic. It's all relative.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

That's not true. I live near Takoma DC. We haven't seen a big spike, but our values are definitely down. I think it's more perception.

I personally know two people carjacked at gunpoint in Takoma DC about a month apart last year. When I moved to petworth decades ago, I had family members who noted crime stats and almost every case involved people involved in the drug trade. The recent anecdotes where the victims are regular people out during normal hours are scary to many people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

That's not true. I live near Takoma DC. We haven't seen a big spike, but our values are definitely down. I think it's more perception.

I personally know two people carjacked at gunpoint in Takoma DC about a month apart last year. When I moved to petworth decades ago, I had family members who noted crime stats and almost every case involved people involved in the drug trade. The recent anecdotes where the victims are regular people out during normal hours are scary to many people.

For sure. That was NOT happening in the 90s. I was here. The randomness and the fact that daytime, witnesses, nearby LE do not curb the crime is alarming, especially for families.

[Anonymous]

The financial reckoning is not far off

[Anonymous]

Retail in DC continues to shrink. Not good.

[Anonymous]

When I was a teen I got a PT retail job, both for the $ and for the discount. How times have changed. No wonder stores are leaving DC. Not sure what is left of the Secure DC bill will make any difference by the time they get finished letting activists eviscerate it.

[Anonymous]

Of course they are, always the victim, even when being the criminal.
Salvation Army, Goodwill store, Poshmark, plenty, plenty of clothes available to buy that are inexpensive. Instead you have these Democrat advocacy groups excusing their stealing, which further reinforces their behavior. We in the real world know what's really happening; these are kids from lower-income families/single mom situations, who want what they can't have rather than be happy and appreciate the basics that have been provided, or do like everyone else has, which is not have the shiny clothes/materials growing up, but EARN them someday as an adult.

DC Votes for this, and encourages this. The biggest fools are the stores and working class voters that hold on to a fantasy that this will change, and do not close and go elsewhere.

[Anonymous]

Some interesting points and links here

https://www.reddit.com/r/washingtondc/comments/1bgpoq2/the_impending_commercial_real_estate_collapse_is/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These residential trends are concerning

In moderately priced areas on the east side of the city, like Brookland and Woodridge, about 30% of homes have dropped their prices in 2024, while in higher-priced areas, like 16th Street Heights and Georgetown, that number is in the 10% range. In Chevy Chase and American University Park, very few listings have seen price reductions.

The percentage of listings with price reductions so far in 2024 is a bit higher than at this time last year. If you are curious about the percentage of homes that have seen price reductions in your neighborhood, shoot us an email at editor(at)urbanturf.com and we will give you the answer.

https://dc.urbanturf.com/articles/blog/where_are_home_sellers_dropping_their_price_in_dc/21998

I wonder how much condos vs. SFH is a factor in some of these neighborhoods?

Anyone in the industry with any insight?

This is happening in most of the country - price cuts because interest rates are so high. The prices are still up 20%+ over the pre-COVID trend line. People ain't selling at a loss if they owned for 4+ years.

Go look at the price cuts in California.

Yet the article notes no cuts in AU Park or Chevy Chase DC, Ward 3 is perceived as the "safest" area of DC.

Cuts are noted in areas that have seen increases in violent crime.

Because the demand is strong for single family houses. That’s why the mayor’s support of hollowing out single family zoning in neighborhoods like AU Park and Chevy Chase makes little sense.