DC Real Estate News: District of Columbia: Washington: Capitol Hill

There are some places in Washington DC that are unique.  Neighborhoods that have a huge appeal and retain their value.  That being said; while the market in Washington DC is doing well - it's hardly a "boom".

One neighborhood which I have had the privilege of working quite a bit in this year is Capitol Hill.  I have sold two properties there recently and have negotiated a couple of others - which didn't work out (yet).

About 10 days ago, one of these deals was a "newish" condo on the edge of Capitol Hill.  Well the neighborhood is not "really" Capitol Hill - but it's close!  Or at least that's what the listing agent wants us all to believe.  So when we based our offer on the recent comparable sales in the building (within the past 90 days) - all we got was a flat counter offer of "Full Price".  

Full WHAT?  Full price?  This isn't a unique condo. It's nice - but it's not the only one in town.  It's not really "in" Capitol Hill.  It's not "brand" new.  Not only that but - it's August!  You know - August; where real estate sales in DC tend to slow to a morbid crawl because 1/2 the dang city is on recess (thats vacation for those of who who don't work for Congress).

In fact; the Capitol Hill neighborhood has been one area where sellers *think* they can get 100% of list price - and some do.  The truth of the matter is that sellers get about 95% of list price (compared to about 92% in DC as a whole).

But a word of caution - when you get a good offer - TAKE IT.  Don't be silly and counter with a FULL PRICE offer.  It sends a huge message to the buyers.  The message sounds a lot like "screw you".

(Of course this condo is STILL on the market - and until they decide they want to "work" with a buyer - it will be on the market a very long time).

Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!

Office: 202-362-5800   Cell: 703.244.3971

Licensed in Washington DC, Virginia & Maryland.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100 * Washington DC 20016

In the Shadows of the US Capitol sits the popular Washington DC neighborhood known as Capitol Hill.  The Capitol Hill neighborhood, with its wide tree-lined avenues and many parks; is DC largest historic neighborhood.

The Neighborhood became popular in the early days due to its close proximity to both the US Capitol and the Navy Yard, where members of Congress along with the craftsmen working at the Navy Yard; would walk the short distance to places of work.

Capitol Hill Homes are composed mostly of many different styles of rowhouses. Everything from the early 19th century manor houses to  Federal townhouses, small frame dwellings, and late 19th century brick rowhouses.  While the lots for many of these homes are narrow; the Rowhouses of Capitol Hill can be quite large inside.

While many of these rowhomes are well over 100 years old; many have been renovated with gourmet kitchens, beautiful outside spaces and the most modern decorations.  Many of the larger homes have also converted the basement space to a separate rent-producing apartment.

Capitol Hill is also popular for its Retail area along Pennsylvania avenue and it's close Proximity to not only the US Capitol and Congressional Buildings, but also Union Station.  Union Station is DC's train station; where both commuter trains and regional trains run throughout the day shuttling commuters and tourists alike from the Virginia and Maryland suburbs to up and down the Eastern Seaboard.  Union Station also offers a number of Retail Stores and Restaurants.  Whether your appetite calls for Starbucks, Johnny Rockets or the Southern Food Delight of B. Smiths; Union Station has it all!

Of course the neighborhood has many other great Coffee Shops, delis and restaurants: Here is a great list of Capitol Hill Restaurants.

The METRO, DC's subway system also has several stops in the Capitol Hill area.  Union Station on the Redline, and Capitol South, Eastern Market and Potomac Ave, all on the Blue and Orange Lines.

The location of Washington DC's Capitol Hill Neighborhood has many benefits for its residents.  It is located close (about 5-6 miles) from the very convenient Washington National Airport; about a 10-12 minute drive.  For the spots enthusiasts; the BRAND NEW Washington Nationals Baseball Stadium (scheduled to open Spring '08) is within a mile of most of Capitol Hill.

Home prices in Capitol Hill currently range in price from $199,000 for a tiny 400 sq. ft. condo; to 1.4 Million for a beautiful 3000 sq.ft. renovated rowhouse.

In December '07; the Average Sold Price for a home was $518,275, with an average Days on the Market of 46.

Capitol Hill Row House - 2 BR / 1.5 Baths                 Capitol Hill Home - 2 BR / 1 Bath

           Cost: Approx. $500,000                                       Cost: Approx. $620,000

RELOCATING to Washington DC?  Here is a list of great WEBSITES to help your move.

Capitol Hill 

• Minutes from National Airport; Subway and Train Stations.
• Walking Distance to Congressional Office Buildings, Washington Navy Yard, the Marine Barracks and Downtown Washington DC.
• Restaurants to fit every taste and appetite.
• Tree-Lined Streets and Dog-Friendly Parks.
• Under 2 Miles to US Coast Guard Headquarters; 4 Miles to the Pentagon or Bolling Air Force Base.
• Walk to the National Baseball Stadium or RFK Stadium to watch the DC United Soccer Team.
• Flexible Housing; from 1 Bedroom Condos, to Large Victorian Row Houses.

Call James for all your Real Estate needs and questions; servicing Capitol Hill, Washington DC, Virginia and Maryland.

RE/MAX Allegiance - Georgetown
1720 Wisconsin Ave NW
Washington DC 20007
202-338-8900 Main Office
Licensed in DC,MD,VA