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Monday, December 6, 2010

Living in DC: Columbia Heights



When looking at DC neighborhoods to reside, there are many options to choose from depending on your living criteria. One such residential neighborhood is Columbia Heights, a new hub of DC retail commerce and home of the Tivoli Theatre.





"Once farmland on the estate of the Holmead family (called "Pleasant Plains")...The area began developing as a suburb of Washington soon after the Civil War when horse-drawn streetcars delivered residents of the neighborhood to downtown. Original home of the first building for Columbian College, now The George Washington University was completed in 1822 before the campus was moved to downtown." (Wikipedia)

SHOPPING AND RESTAURANTS

In 1999, the city began it's revitalization project of the Columbia Heights area. The finished product is a combination of mixed-use projects and big box retail stores such as Target, BestBuy, Marshalls, Washington Sports Club, and Giant surrounding the Tivoli Square. Columbia Heights has become the new hub of retail for DC, it is a one-stop shop of restaurants such as Five Guys, Ruby Tuesdays, Chipotle, Ihop, and other local eateries.





CONDOMINIUMS

The majority of condominiums in Columbia Heights are condo conversions of older apartment buildings or townhomes. Columbia Heights by far has the most affordable condos in Washington DC with the average price starting around $215K. As in most urban neighborhoods, parking is difficult and a $35K premium is placed on homes with available parking. There is a huge $50K+ disparity in home pricing from 16th St to 7th St side of Columbia Heights. The condominium prices in Columbia Heights range from $175k to $700k...needless to say, there is something for everyone.



TOWNHOMES

Columbia Heights is also known for its wide array of Victorian style townhomes. The average starting price is $325K.



Call me at 301-452-4767 if you have any real estate questions!

Wednesday, December 1, 2010

The Greatest Homebuying Obstacle: Location vs. Space

The GREATEST homebuying obstacle facing all homebuyers is: LOCATION vs. SPACE!

It doesn't matter how many homes you visit or research is done on each neighborhood the results always comes back to this issue. When making your initial homebuying criteria list it is important that you also RANK what is most important to you.

This list is an important guide to help you with this overwhelming decision making process.

What is "LOCATION?"
-Location can range from accessibility to public transportation, major roadways, restaurants, shopping, work, schools, or even nightlife such as bars, clubs, and lounges.

What is "SPACE?"

-Space can range from square footage, floor plan, and storage.

How does my choice affect home prices?
-There is a direct correlation between Location and home prices...there is a premium placed on sought after location, especially in urban areas. The farther away from the city the lower prices fall.

How does my choice affect Space?
-It is well-known that in more sought after locations, Space is limited based on your price range. You can expect to gain more Space for a lower price range as you move further out of the city.

Now you might read this and think it's common sense...but it is inevitable that many homebuyers will have many sleepless nights tormenting over this same issue, especially since purchasing a home is a very emotional process.

It doesn't matter if you are a first-time homebuyer or second home...the obstacles and anxieties remain the same.



Call me at 301-452-4767 if you have any real estate questions!