Although the data released today by S&P/Case-Shiller shows that the majority of the country is showing a continued decline in home prices, Washington, DC had a healthy 3.5% increase over the previous year. Washington was one of only four cities that could boast an increase. The other three cities that ended up with a gain are Los Angeles, San Diego and San Francisco, all (obviously) in California.
A lot of the gain for the year occurred in late spring, with Washington’s May 2010 showing a 7.7% increase over the previous year. This momentum was not sustained thru the end of the year, and November actually showed a decrease from the previous year.
Still, the numbers are positive and the fact that Washington, DC was the strongest in the country allows us to remain optimistic about future growth and productivity.
A Unique Chance to Live in the Heart of Downtown Bethesda
Want to live a block from the metro and the Downtown Bethesda core, when you roll out of bed you’re practically at the new Equinox Bethesda? Welcome to 4818 Hampden Lane.
With everything literally at your doorstep, this wonderful, walkable condo townhome is a unique produce in a unique location. It’s easy to park your car and leave it as restaurants, dry cleaners, grocery stores, retail shops, movies, coffee shops galore (!), drug stores, a hardware store…and practically everything else you’d ever need are within a four block radius.
The two level unit lives more like a small townhome….so you don’t ever have to wait for an elevator. With a fantastically updated, high end kitchen and a renovated full bath, there are two bedrooms (one with a walk-in closet), a washer/dryer, hardwoods on the first level and extremely low condo fees.
4818 Hampden Lane is available for sale at $599,000 – or for rent at $2250.
4818 Hampden Lane & Downtown Bethesda Living
When DC’s Winter Restaurant Week wraps up, all you have to do is to cross into Maryland and enjoy a similar offering in Chevy Chase and Bethesda. Over 30 restaurants will participate this year with two and three course lunches and dinners ranging from $12-$15 at mid-day and $25-$30 in the evening.
It’s a great opportunity to expand your restaurant repertoir -- or to re-visit some of your favorites at this special price. As a kind reminder, the festivities begin next week, Monday, the 24th. So make reservations soon -- maybe today? .
More on Bethesda Restaurant Restaurant Week
Washington DC Ranks in Top Cities for Young Entrepreneurs
Under30CEO, an online resource for young entrepreneurs, recently asked its followers to let them know what cities in the US were friendliest for starting businesses. Among the items that the voters were asked to consider were climate, the social scene, schools, local events and other resources. With these being the considerations, it's probably no surprise that Washington, DC made it into the top 10 cities for young entrepreneurs.
Although Washington, DC is most noted as a political city, it has many well respected colleges and universities (Georgetown, George Washington, American, and Howard...among others) and these institutions add both to the academic climate and to the social scene. I'm personally not sure where we ranked in the climate department (I've always contended that climate is NOT why people live in the DC area -- hot and humid in the summer and sometimes cold and wet in the winter)...but we do have beautiful springs (there is nothing better than the cherry blossoms at the Tidal Basin).
Washington Ranked #9 among the top 10, with Seattle at the bottom of the list. The other 8 cities, starting and number 1 and ending at number 8 were: New York, San Francisco, Austin, Boston, Denver, Chicago, San Diego and Portland.
Why Am I just Seeing Picture of Washington DC
And why just the list of cities that will Flourish and Flounder in 2011? My apologies but I'm having trouble linking out to other post to help support my claim that these real estate studies that look with such a wide lens are useless. Per Forbes
If the list and and a picture of DC is enough for you, by all means, enjoy. For full commentary I invite you to our sister site GreaterBethesdaOnline.com (see related links for location of post) Again, my apologies and hoping you stop by regardless of the change of locations!
...Actually even Better!...
DC Noted as 2nd Best Places in The World For International Real Estate Investment
More good news for some segments of the DC real estate market? Yep!
DC joins NYC (who nudged us out of the number 1) in being identified as two of the very best places in the world for international real estate investment opportunities. These two US cities topped the list in a survey taken among members of the Association of Foreign Investors In Real Estate.
Quick context: The Association of Foreign Investors In Real Estate or AFIRE "hold more than $627 billion of real estate globally, including $265 billion in the U.S." So while I normally harp on showing me the raw data, I'm just going to take this study (now in it's 10th year) and $265 billion as "enough" :-)
The 5 Most Seductive US Cities For International Real Estate Investment?
- 1. New York (#2 in 2010)
- 2. Washington, D.C. (#1 in 2010)
- 3. Boston (#4 in 2010)
- 4. San Francisco(#3 in 2010)
- 5. Los Angeles (#5 in 2010)
The International Focus?
According to the members of this group, the US market presents a very strong opportunity for foreign real estate investors, with China coming in second place.
The survey also showed that these international investors are feeling more optimistic about the real estate market in the US, with over 70% of them indicating that they planned on investing more in the US this year than they did in 2010. And this is in large part why DC and New York to 1 & 2 on the internationally.
- 1. New York (#3 in 2010)
- 2. Washington, DC (#2 in 2010)
- 3. London (#1 in 2010)