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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]homes going for 1M in Brookland are the exceptions not the norm. areas with better schools like CC homes have generally higher prices. I think schools are very important in home buying decisions for families.

[b]Uh, this is not true. Have you checked out prices in Logan or Shaw lately? Demand is much higher in these areas right now.[/b] [/quote]

Yes, sometimes other factors offset the poor schools. But overall there is a very strong correlation between school quality and home prices. It was very evident when we were househunting. When there are two houses in two neighborhoods with all other things being roughly equal, good schools add a big premium.[/quote]

But you are not familiar with the DC real estate market.  Prices in Logan, Shaw, Bloomingdale, Ledroit Park, Columbia Heights are all as high or higher than those in the leafiest parts of NW with the most sought after schools.  For example, I could probably sell my Bloomingdale rowhouse for a little under $1m.  I could easily buy a home inbound for a JKLM school for that price, and likely a larger home with a yard too.

[/quote]

I think you're not familiar with the DC real estate market.   If you wanted to buy a house in Palisades, AU Park, Friendship Heights, Wakefield, Forest Hills and to a lesser extent CCDC [i]with the same square footage [/i] as a typical Bloomingdale rowhouse ... it would cost more than one million.   (unless it was nowhere near metro, as with Hawthorne and that stuff).

$875K, a gut job brand new renovation with 1700 sq.ft above grade.  Close to transit:
[img]http://cdn.cstatic.net/images/gridfs/54cfe5c6f92ea1673401cb2f/DC8544547_0.jpg[/img]

$925K  In Janney, nowhere near metro  Same exact size.  Remodeled over time, but not to the same "flipper all new" extent as Bloomingdale house.  
https://www.redfin.com/DC/Washington/4610-49th-St-NW-20016/home/9945905?utm_campaign=listings_update&utm_source=myredfin&utm_medium=email&utm_content=home_image

[img]https://ssl.cdn-redfin.com/photo/57/bigphoto/297/DC8575297_0.jpg[/img][/quote]

Where is that first home that you mention?  Where's the MLS link?  It doesn't really look like Bloomingdale, certainly not anything on the southern end (i.e. close to transit).  Perhaps at the top of 1st St NW?  (significantly impacted by the huge amount of construction going on there).[/quote]

The only houses that have sold in Bloomingdale for close to or over a million in the past year have at least 4 bedrooms and 2,000 sq.ft or much more:

https://www.redfin.com/neighborhood/18336/DC/Washington-DC/Bloomingdale-Washington-DC/real-estate#!min_price=950000&num_beds=2&sold_within_days=365&status=131&v=8&sst=&lat=38.91279783318087&long=-77.01188002681441&zoomLevel=15&region_id=18336&region_type=1&market=dc[/quote]

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