Anonymous wrote:

Anonymous wrote:I suspect the Cathedral Commons poster was tongue-in-cheek, but there is some substance to the belief that the expensive NWNW neighborhoods -- Georgetown, Foxhall, Palisades, Spring Valley, Kent, Wesley Heights -- stand to appreciate considerably in the coming five to ten years. Once Hardy MS becomes an attractive middle school, parents of two teenage kids will find themselves $40,000 richer each year. That's the equivalent of an 800k mortgage right now and would really relax the budget constraints of prospective buyers.

For a point estimate, I would believe a forecast of 250k appreciation in that time frame were Hardy and Wilson to become comparable to MoCo schools. The gains would b mostly in the later years of that window.

If not flippant, it's wide of the mark. Cathedral Commons is not a neighborhood, just a developer's name for a generic town-centerish project on top of the new Wisconsin Ave. Giant. It's adjacent to McLean Gardens. The housing consists mostly of apartments for singles and couples. There are a handful (8 or so) townhouses for families, directly across from the police station.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Houses in Petworth are already $600-$700k rehabbed. I don't see how the prices can appreciate much more until the schools are better. Because for $800k you can buy in JKLMM.

This. Restaurants and other amenities tend to appear after the neighborhood has become hot. So we should be looking for neighborhoods that lack amenities or are on the verge of getting amenities. Homes in neighborhoods that already have restaurants, cafés, etc, are priced accordingly.

Well then, perhaps Shepherd Park should be added to the list. Homes here already start around 600-700K, and that's without many walkable amenities in the area. But with Walter Reed's redevelopment on the horizon, SP homes should appreciate. (However, 2015 is admittedly a little premature to consider this neighborhood "hot" for this reason alone since the plans will not come to fruition for a while.)

Also, the neighborhood elementary school is on an upward trajectory with a new IB curriculum and pretty decent test scores for an EOTP school, so that may also lead to greater "buzz" about the neighborhood in 2015.

PP here--forgot to mention that while Shepherd Park is already zoned for Deal (and Deal and Wilson are destination schools for kids who attend Shepherd Elementary), if the new boundary revisions go through, SP will also be zoned for Wilson (as opposed to Coolidge, as it is now). Another reason to expect an even tighter market in SP in 2015.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Houses in Petworth are already $600-$700k rehabbed. I don't see how the prices can appreciate much more until the schools are better. Because for $800k you can buy in JKLMM.

This. Restaurants and other amenities tend to appear after the neighborhood has become hot. So we should be looking for neighborhoods that lack amenities or are on the verge of getting amenities. Homes in neighborhoods that already have restaurants, cafés, etc, are priced accordingly.

Well then, perhaps Shepherd Park should be added to the list. Homes here already start around 600-700K, and that's without many walkable amenities in the area. But with Walter Reed's redevelopment on the horizon, SP homes should appreciate. (However, 2015 is admittedly a little premature to consider this neighborhood "hot" for this reason alone since the plans will not come to fruition for a while.)

Also, the neighborhood elementary school is on an upward trajectory with a new IB curriculum and pretty decent test scores for an EOTP school, so that may also lead to greater "buzz" about the neighborhood in 2015.

PP here--forgot to mention that while Shepherd Park is already zoned for Deal (and Deal and Wilson are destination schools for kids who attend Shepherd Elementary), if the new boundary revisions go through, SP will also be zoned for Wilson (as opposed to Coolidge, as it is now). Another reason to expect an even tighter market in SP in 2015.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Houses in Petworth are already $600-$700k rehabbed. I don't see how the prices can appreciate much more until the schools are better. Because for $800k you can buy in JKLMM.

This. Restaurants and other amenities tend to appear after the neighborhood has become hot. So we should be looking for neighborhoods that lack amenities or are on the verge of getting amenities. Homes in neighborhoods that already have restaurants, cafés, etc, are priced accordingly.

Well then, perhaps Shepherd Park should be added to the list. Homes here already start around 600-700K, and that's without many walkable amenities in the area. But with Walter Reed's redevelopment on the horizon, SP homes should appreciate. (However, 2015 is admittedly a little premature to consider this neighborhood "hot" for this reason alone since the plans will not come to fruition for a while.)

Also, the neighborhood elementary school is on an upward trajectory with a new IB curriculum and pretty decent test scores for an EOTP school, so that may also lead to greater "buzz" about the neighborhood in 2015.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Houses in Petworth are already $600-$700k rehabbed. I don't see how the prices can appreciate much more until the schools are better. Because for $800k you can buy in JKLMM.

This. Restaurants and other amenities tend to appear after the neighborhood has become hot. So we should be looking for neighborhoods that lack amenities or are on the verge of getting amenities. Homes in neighborhoods that already have restaurants, cafés, etc, are priced accordingly.

Anonymous wrote:

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Houses in Petworth are already $600-$700k rehabbed. I don't see how the prices can appreciate much more until the schools are better. Because for $800k you can buy in JKLMM.

Anonymous wrote:petworth and brookland -- lots of new restaurants and art institutions. Culture builders are what make hot neighborhoods last

Anonymous wrote:I suspect the Cathedral Commons poster was tongue-in-cheek, but there is some substance to the belief that the expensive NWNW neighborhoods -- Georgetown, Foxhall, Palisades, Spring Valley, Kent, Wesley Heights -- stand to appreciate considerably in the coming five to ten years. Once Hardy MS becomes an attractive middle school, parents of two teenage kids will find themselves $40,000 richer each year. That's the equivalent of an 800k mortgage right now and would really relax the budget constraints of prospective buyers.

For a point estimate, I would believe a forecast of 250k appreciation in that time frame were Hardy and Wilson to become comparable to MoCo schools. The gains would b mostly in the later years of that window.

Anonymous wrote:I suspect the Cathedral Commons poster was tongue-in-cheek, but there is some substance to the belief that the expensive NWNW neighborhoods -- Georgetown, Foxhall, Palisades, Spring Valley, Kent, Wesley Heights -- stand to appreciate considerably in the coming five to ten years. Once Hardy MS becomes an attractive middle school, parents of two teenage kids will find themselves $40,000 richer each year. That's the equivalent of an 800k mortgage right now and would really relax the budget constraints of prospective buyers.

For a point estimate, I would believe a forecast of 250k appreciation in that time frame were Hardy and Wilson to become comparable to MoCo schools. The gains would b mostly in the later years of that window.

Anonymous wrote:

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. "