How DC Property Assessments are Changing

March 8, 2020Real Estate & Local News

DC’s Office of Tax and Revenue has sent new property assessments to homeowners in the city, and the proposed average residential increase is 3.46%, with significant neighborhood to neighborhood variation. The proposed increase for commercial properties is 3.92%. The assessments are slated to rise the most in Wards 7 and 8, east of the Anacostia. … Read More

Average Apartment Rents Across the DC Area

March 1, 2020Real Estate & Local News

Apartment rental rates vary considerably across the DC region based on a breadth of factors including amenities, access to public transportation, and individual neighborhood. Based solely on jurisdiction, Bethesda currently has the DC metro area’s most expensive rents, according to an analysis by apartment search site RentCafe. The average apartment rent in Bethesda is $2,466 … Read More

Report Highlights State of DC-Area New Condo Market

February 25, 2020Real Estate & Local News

Condominium sales and marketing firm McWilliams Ballard has released a new report aggregating DC condo sales and pipeline information from 2019. According to its findings, there was a 12% year-over-year increase in DC-area new condo sales and 20% year-over-year increase in new condo sales in the city proper. In Loudon County, year-over-year sales were up … Read More

New VA Loan Program Goes into Effect

February 23, 2020Real Estate & Local News

In January of this year, a new law governing mortgages backed by the Department of Veterans Affairs went into effect, allowing those using VA loans to borrow any amount of money (as long as they qualify) with no down payment. Zero-down payment loans were previously capped at the same level as conforming loans. Many loans … Read More

DC Named Among Most Walkable US Cities

February 18, 2020Real Estate & Local News

DC earned the No. 7 spot on Redfin’s annual list of the most walkable cities in the nation. Because of its density and amenities, DC is among the cities with the least car-dependent residents. The district also ranks highly on access to public transit and bike infrastructure and has numerous bars and restaurants, making it … Read More

New Residential Developments Coming to Shaw

February 16, 2020Real Estate & Local News

The Wren, at 965 Florida Avenue NW, will deliver 433 residential units later this year. 130 units will be affordable to households earning up to 30 and 50% of area median income and there will be 350 parking spaces. Amenities in the building include a two-story fitness center, rooftop pool, and landscaped “skywalk bridge.” JBG … Read More

Details of a Plan to Transform Single-Family Zoning in MD

February 9, 2020Real Estate & Local News

Vaughn Stewart, a Maryland House Delegate, formally introduced the Modest Home Choices Act of 2020 last Thursday, which would allow middle housing to be constructed on lots currently zoned single-family. The Act would amend the state code to facilitate construction of triplexes on residential-zoned lots that currently allow only detached, single-family homes. The census tracts … Read More

DC Rental Market Conditions

February 4, 2020Real Estate & Local News

Harvard University’s Joint Center for Housing Studies released its latest Rental Housing report, detailing rental market conditions across the nation. The report found that it has become increasingly difficult for middle-income Americans to afford rent as much of the growth in demand since 2010 has been concentrated at the upper end of the market. New … Read More