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Reply to "RE Market Crystal Ball"
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[quote=Anonymous][quote=Anonymous]Agree with PP - Wtf is JKLMM? [/quote] If you want to comment intelligently on real estate in DC on a forum like DCUM, you'd should know school districts--because like every other real estate market, the quality of schools in DC greatly affect home prices. JKLMM= Janey, Key, Lafayette, Murch, Mann. These are considered the top public elementary schools in DC. They are all located in expensive neighborhoods in NW DC. That's why a home that costs $600K in a JKLMM district, which is on the low end, will probably maintain its price--demand to get into these neighborhoods is high and the supply of these "entry-level" homes is relatively low. Homes that go for $1M or more in these neighborhoods are more likely to drop in price--demand is lower at this price point and the supply is relatively stable.[/quote]
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