DC Streetcars roll out by mid 2013 on H Street NE
H Street in Northeast DC - Plans are in the works for streetcars to roll out by summer of 2013. These streetcars will be the corridor between Benning Road and Union Station in northeast DC. This of course reminds me so much of the trolleys in downtown Memphis.
Source: Washington Post

Walmart Plans Construction in DC
DC area – There has been talks about Walmart coming to DC in several areas. However, some DC residents have mixed responses to the construction of DC. What are your thoughts? Do you think there should be a Walmart in DC?
Source: Food and Water Watch

DC Shorts Film Festival
Penn Quarter – DC Shorts showcases a collection of short films in the US. DC Shorts is coming to DC on September 8-18, 2011. They will screen films in 17 90-minute showcases.
Source: DC Shorts

Fashion Night Out
Georgetown – If you are inspired by fashion, this event is just for you. Georgetown will hold its fashion night out on September 8, 2011 from 6pm-11pm. The fashion night out will feature a splurge of events at Georgetown stores, restaurants, and salons.
Source: Fashion Night Out

Solar Decathlon comes to DC in September
National Mall –Northwest DC. I truly love when this event comes around every year to DC as it brings ways of using solar-power for your home. The Solar Decathlon is coming to the National Mall on September 23-October 3, 2011.
Source: Solar Decathlon

Free Opera in the Outfield
Southeast DC – Do you like opera? If your answer is yes, the Nationals Park will have its free opera in the outfield at Nationals Park which will feature the opening production of Puccini’s Tosca. This free event is conveniently located at Navy Yard Metro and will take place on Thursday, September 22, 2011 at 7:30pm.
Source: DC Guides

But what if you have answered all these questions that are listed above and you find out that the home is a short sale? Do you know all the particulars of what a short sale involve? If not, Jack Wang, who is a DC Condo Domain Real Estate Consultant, gives us the answer to what a short sale is.  Check out what Jack Wang has to say about this….

Q: I really like this home that I found and it is a short sale. What is a short sale?

A: A short sale is a legal lender approved solution designed to assist those home owners who are financially strapped to get out from under their mortgage debt. In short sales, the mortgage holder agrees to take less than what home owner owes on the property.

An example of a short sale would be is if a home owner owes $400,000 on their current mortgage and their home is only worth $375,000. The lender in this example would agree to take a short fall of $25,000 at closing. The mortgage holder may completely wipe out the debt and the home owner does not have to repay the $25,000.

The home owner benefits in this situation because they get out of a sticky financial mess without going to foreclosure which can seriously damage your credit.

You may be thinking why would a mortgage holder want to allow a short sale? There are a number of reasons, most notably the cost involved for the lender going through a foreclosure proceeding. This avenue can save the lender money that they would otherwise lose.

All lenders are considering the short sale route, even if they have been unresponsive or unreasonable about a refinance or loan modification.

If you are considering the short sale process please feel free to contact me or call 877-852-6636 with any questions. I specialize in this unique type of sale and have expert knowledge of all short sale procedures!

Photo from Foreclosure News Website

The Byron has a secure entrance to the building that includes a front-desk and lobby that is a reminder of a classic-era period of blues, creams, and accents of golds offering the decorative finishes throughout.

At the Byron is Unit 702. Unit 702 has two bedrooms, two and half bathroom plus a den with 1,661 square feet of living space for a mere purchase price of $725,000.

Walk into the entrance of Unit 702 is a separate walk-in laundry room to the left. Progress down the hallway and to the right is the half bathroom. Peer to the left of this elegantly designed condo and we find the second bedroom, which includes a two double regular size closets, white crown molding, and a large window for lots of natural sunlight. Adjoined to the second bedroom is the full bathroom which is amazing. This bathroom offers a double sink vanity with cherry-like wood storage, an enclosed shower with neutral ceramic tiling, and ceramic floor tiling that harmonizes with the light blue wall palette in the bathroom.

Be totally amazed by the kitchen. The modern kitchen presents a sophiscated and exotic feel boasting of cherry hardwood floors, stainless steel appliances, a chrome faucet sink, recess lighting, lighting fixtures, granite counters, cherry cabinetry, and a breakfast bar that shows the openness to the living room and formal dining area.

The living room is awe-inspiring as it takes of two walls of floor-to-ceiling windows that show views of Falls Church City community in one direction and views of Merrifield in another direction. The living area a white fireplace with a fireplace mantel and screen that serves as focal point for the room, cherry hardwood flooring, and
a private balcony near the hallway entrance and dining area.

The master bedroom suite includes its own master bathroom suite. The master bath includes a separate soaking tub and separate glass shower with neutral ceramic tiling, and granite counters to makes this master bedroom and bath en suite complete.

With Unit 702, the Byron condominiums offer the following community features:
–Two garage parking spots
–A storage unit
–A club room
–Fitness Center
–Library/Game
–Room
–An outdoor courtyard with a beautiful waterfall
–Free shuttle to two metros

If you like the elegant and classic style of Unit 702 that offers excellent views of Falls Church City and parts of Merrifield, call 1-877-852-6636.

Address: 513 West Broad Street, Falls Church, VA 22046
MLS: #FA7652335
Bedroom: 2
Bathroom: 2 1/2
Price: $725,000
Listing courtesy of: Thomas, Hennerty at NetRealtyNow.com, LLC

If you are looking for a super-uber, boutique, chic, contemporary luxury condo that resides in the fabulous area of Logan Circle, this condo might be just for you.  This contemporary loft-style condo that offers a “wow” curb appeal is none other than “The Metro”.  The Metro is located at 1444 Church Street in the northwest part of Washington, DC and has Unit #705 for purchase. Unit #705 speaks volumes of the “super ultra-luxury” having two bedrooms, two full baths, a den, a library, and 2,024 square feet of living space with a price tag of $1,249,900.

Walk into Unit #705 is the kitchen, the living room, and the dining room combined.  The kitchen consists of hardwood flooring, granite counters, a breakfast bar, exposed ductwork throughout this condo unit, lighting fixtures, and stainless steel Viking appliances.

Photos from Trulia Website
To the left is the hallway entrance. As you peer into the hallway is the library to the right that has built-in customized shelves and a regular second bedroom next to the library. Adjacent to the second bedroom is the full bathroom that includes a soaking tub and shower with a white rectangular pedestal sink and ceramic floor tiling.

Towards the back of the hallway of Unit #705 is the master bedroom en-suite. Unlike the traditional master bedroom, this master bedroom has two walls of floor-to-ceiling windows that provide natural sunlight while the other wall offers a unique customized bamboo-style wall treatment. The en-suite master bathroom is absolutely amazing. The master bathroom has a deep soaking tub with a shower, dual sink vanities, and a separate door that leads to a spacious walk-in closet an agoraphobe would be afraid of.

In the upper level of this condo, is the den.  The upper level of the den includes exposed ductwork, hardwood flooring, recessed lighting, and a wet bar. Don’t forget that private outdoor terrace which provides excellent views of the urban and movable Logan Circle area.

Living in Unit #705 offers secured access, two parking spaces, and a great way to join the Logan Circle Community Association in this fabulous area.

If you like the conveniences and the vibrant-upbeat, close-knit community that Logan Circle offers; call 1-877-852-6636 for this DC listing and don’t forget to stop by the Cocoa Bar to get your “Cocoa on”.
Listing courtesy of Michael, Hines at TTR Sotheby’s International Realty

Photo from Mashable Website

Have U Google Plus?
Social networking sites like Facebook, LinkedIn, and Twitter are amazing tools  to connect with your friends and family. If you use Google, Google serves as a one-stop shop focusing on collaboration and sharing of documents, photos, and calendars. Google has added another feature to their one-stop shop: Google Plus.

With Google plus, you can categorize people based upon Friends, Family, Following, Acquaintances, or create your own group known as “Circles.” Another neat feature that Google Plus has that a potential homebuyer might use with their real estate agent, for example, is “Start a Hangout.” I find the Start a Hangout feature to be an amazing tool for both the real estate agent and potential homebuyer. The real estate agent can schedule a video chat with the potential homebuyers interested in purchasing a home or have questions about a particular home.

Google Plus presents yet another new opportunity for the potential homebuyer and real estate agent to interact, to connect, and share potential home purchasing information.

iPhone Apps to Use For House Hunting.

Have you ever thought about using your smartphone as part of your house hunting needs? If you have an iPhone, there are four apps to use while you are out house hunting.

WalkScore WalkScore is a free app that gives a rating on how well the neighborhood is designed. The factors it takes into account include pedestrian friendliness, proximity to stores, public transportation, proximity to schools, and proximity to workplaces.

QR Code Okay when I first saw this, I had no idea what this was. However, we’ve all seen these square bar-codes more and more often. Well these QR Codes are ‘quick readers’ that will allow you to find out more information about the object you scanned. This is especially useful if you see a QR Code on the sign in the yard of a home you are interested in.

EveryBlock. Do you want to know what is going on in the neighborhood? There is a free app called “Every Block.” Every Block is a website that a potential homebuyer can visit to see what’s happening in the neighborhood, follow your favorite places, and exchange ideas on how to make the neighborhood better.
Source: DC Every Block

Yelp. Yelp is a great free app to use. From user reviews and recommendations of top restaurants, shopping, nightlife, home services, to other several other useful categories for a potential homebuyer to use during their house hunt.
Source: Yelp

And let’s not forget DC Condo Domain’s search listings as we can mark this as one of our favorite bookmarks on the iPhone. If you would like more information about purchasing a potential home in the DC metropolitan area, please contact a DC Condo Domain agent.

So which social tools do YOU use in your home search? Is this the future or are we getting ahead of ourselves? Tell us what you think in the comments below!

There are industry-wide influences, of course. Prices are at very reasonable levels in most cities and interest rates are at or near historic lows. If rates increase, the same property will cost you quite a bit more. A good rule of thumb is for each 1% increase, there is a 10-15% loss in purchasing power for the buyer. It’s likely that over the next few years, rates will rise 2-3% back to historical norms and buying power will drop rapidly. For many investors, this means that the time to buy is now when prices and rates are low and buyers have power.

Rising rents in many cities have outpaced ownership expense, making a purchase more cost efficient than renting and also increasing the likelihood of strong rental income and a cash flow positive opportunity. Additionally, strong foreign investment in several top US cities, buoyed by stronger foreign currency, the continued security of American investment, and the cache of a US address, provide built-in demand for city properties.

We at CondoDomain.com are big believers in city real estate in general, but I highlight 5 cities where I believe the current opportunity is especially strong. My opinions are based on a combination of data, our agent experiences and client sentiment. This is not a scientific study but hopefully sparks some thought and adds some value. If you have any questions in general or about specific cities or opportunities, please comment or reach out to me. Without further adieu, here is the list:

5 – Los Angeles, CA

There are strong signs that the real estate market in LA has hit bottom and is starting to rebound. Downtown LA was hit hard with a huge amount of overbuilding and some of the worst economic and housing downturns in the country when the credit crisis hit. Jobs and the economy have begun to come back and the oversupply of condo homes downtown makes it a buyers market.

While downtown housing is still partially depressed, the neighborhood has become a vibrant and hip social scene in Los Angeles. Housing will catch up. Additionally, the new Expo line for the Metro Light Rail will make commuting for work and fun much easier. Phase 1 (from downtown to Culver City) will be open within a couple of months and Phase 2 (from Century City to Santa Monica) will be finished in a couple of years. This is the first time anything like this has connected to the west side, a huge development for LA’s car-attached culture. The train will run above ground and the route will be landscaped with bike paths and greenery. The city already has forward-looking loft/condo projects cropping up in anticipation.

With downright low prices available and good prospects for the future, Los Angeles is my first investment market to watch.

4 – San Francisco, CA

A second California city takes our number 4 spot. San Francisco has remained fairly strong even through the downturn and is bouncing back well too. Starting off there simply isn’t any more room to develop on the peninsula, and there is always going to be a strong demand for premium housing in downtown SF. This point is driven home by the fact that the city’s effective rents rose 1.2% (according to the Wall Street Journal 7/7/11), a figure near tops in the country. Mercer Management Consulting ranks the city as having the highest quality of life in the continental U.S., and the region is the gateway to the Pacific Rim. This means foreign nationals will be players in addition to domestic buyers.

Continuing, there continues to be huge venture capital money invested in the area (more than $6.3 billion just during the recession). Job growth is on the rise, lead by high tech and life sciences professions. Overall unemployment has improved a full percentage point in the last year AND job growth in the high income/skill sectors is among the best in the nation.

Remember that we are talking about the city of San Francisco only in this recommendation, and not the whole Bay Area. Strong business investment, high-end job growth, international players and high demand/low supply mean an opportunity worth taking a hard look at in my book.

3 – New York, NY

The New York City Real Estate market is unique – almost a living and breathing organism like the city itself. Prices are high, demand is strong, and supply is limited… at least that’s been the story for some time now. Even in the early recession, the city’s housing market stayed relatively strong, but pressure built and finally forced a moderate price decrease in some areas. The city is expensive overall, but there are pockets of opportunity. The premium neighborhoods like Central Park West, the West Village and SoHo remain pricey and sought after, but even within those there are some streets and buildings where the investment opportunity is strong. Then there are neighborhoods like the Financial District where tax abatements and other subsidies make for strong opportunity across the area.

Rents in NYC are increasing fast as inventory becomes more and more scarce. Combined with the buying opportunities that can be found, this should lead to some strong cash flow situations for investors. Landlords in the city no longer pay any broker fees in almost all cases, a sign that renting property at the high market prices is relatively easy these days… and it’s a money saver for investors. Finally, strong foreign investment from all over the world continues across New York City.

So my summary on NYC: pockets of great opportunity combined with what should be high demand going forward and great cash flow opportunities.

2 – Miami, FL

Miami is more than just a vacation spot. It is the gateway to the United States for all of Central and South America and it has become a major financial hub in our country and for the world. Foreign buyers are a force in the city and promise to continue to be so. The soft dollar increases their buying power and the Miami address brings big-time cache, convenience and business opportunity.

The massive overbuilding in the late 2000s hammered condo prices in South Beach and especially Downtown Miami. While prices have hit bottom and are now starting back on the rise, there are still lots of very strong opportunities. The city has invested significantly in the Downtown / Brickell area and the neighborhood is looking good with outstanding public spaces and resident resources. Restaurants, bars and shopping have all recently flocked to the area.

It doesn’t hurt investor prospects that Florida has no personal income tax and a low (5%) corporate income tax. So – low prices, great amenities, favorable taxes and a massive foreign demand? Yes, that’s good enough for number 2 on my cities to watch list.

1 – Washington, DC

The pulse of Washington, DC is politics, as we all know, and this same government sector also powers the local Real Estate market. With the Federal government in town and all the lobbying and legal work associated with the public sector, the District of Columbia has one of the lowest unemployment rates in the country. In addition, the city has a highly mobile population that turns over frequently. DC has one of the highest migration rates from other states, and there is a strong foreign component too. There is always a high demand from buyers and renters alike.

Unlike the other cities on this list, property values in most of DC have been on the rise for a couple years now, without becoming excessive. It is cheaper to buy in DC than to rent and it’s a city with one of the largest rent-buy discrepancies in the country.

Inventory is scarce in Washington, DC. The economy is strong and stable and demand promises to be consistent. Our experience is that listings are selling fast and for at-or-near list price, and the aggregate data backs us up on this. I expect all these positive trends to continue and grade DC as my top investment city to watch.

Hoyt David Morgan is the President of CondoDomain.com, a web-based real estate broker that is hyper-focused on city markets and fanatical about its premium service. Hoyt can be reached at hoyt@condodomain.com.

Listed below are the ten newest condominiums on the market as of Monday, July 25, 2011. If you see one you like, contact one of our fantastic agents through CondoDomain DC’s homepage.

Showing properties 1 - 10 of 128. See more city of Washington real estate.
(all data current as of 2/4/2012)

1. $629,000 : 1811 Wyoming Ave Nw #32, Washington
   
   2 beds, 2 full baths

   Home size: 1,282 sq ft
2. $530,900 : 1025 First St Se #705, Washington
   
   2 beds, 2 full baths

   Home size: 1,188 sq ft
3. $529,000 : 1793 Lanier Pl Nw #5, Washington
   
   2 beds, 2 full baths

   Home size: 1,036 sq ft
4. $509,850 : 1529 14th St Nw #408, Washington
   
   1 bed, 1 full, 1 part baths

   Home size: 788 sq ft
5. $537,500 : 631 D St Nw #926, Washington
   
   2 beds, 1 full bath

   Home size: 1,140 sq ft
6. $695,000 : 1323 Girard St Nw #4, Washington
   
   2 beds, 2 full baths

   Home size: 1,613 sq ft
7. $689,000 : 1440 Church St Nw #501, Washington
   
   2 beds, 2 full baths

   Home size: 979 sq ft
8. $599,999 : 228 G St Sw #138, Washington
   
   3 beds, 2 full baths

   Home size: 1,344 sq ft
9. $509,900 : 1912 8th St Nw #C, Washington
   
   2 beds, 2 full baths

   Home size: 1,125 sq ft
10. $515,000 : 675 E St Nw #450, Washington
    
    1 bed, 1 full bath

Listing information deemed reliable but not guaranteed. Read full disclaimer.

CondoDomain offers some of the best deals on the market!  They GIVE YOU BACK CASH when you purchase a home through CondoDomain DC.

Photo from Pitch Engine Website

Chef Marc Samuelson Coming to Washington, DC
Chef Marc Samuelson will be in town on Friday, July 29th from 11:00am-3:00pm at the Eastern market as part of the “Macy’s Chefs A Go-Go” national food truck tour. Stop by to visit Chef Marc Samuelson as he prepares some of his signature dishes and giving them away for free at 225 7th Street in Southeast, Washington D.C.

Free Movie Nights in Crystal City Virginia
Crystal City has free movie nights on Mondays. The free movie nights began Monday, June 6 and will end on August 29, 2011. The free outdoor movies are held at 18th and Bell Street which is across from the Arena Stage and Rosslyn Metrorail station. View the movie schedule, bring some food, and meet some friends while enjoying the outdoor festival. Interested in finding housing in this vibrant Crystal City area? Call 877-852-6636 to schedule an appointment today!

The Asian Festival Comes To George Mason University
The Asian Festival will be held on Saturday, July 23-July 24, 2011 at the George Mason University. This two day event promotes different Asian countries and cultures offering music, cultural performances, food, fashion, and crafts.

Famous Dave’s Opening in Falls Church August 2011
Famous Dave’s is well known for its barbeque. Famous Dave’s will be opening its doors at 370 West Broad Street in Falls Church, VA where Original Pancake House once stood in August 2011.

Looking for a home to purchase? Please see our MLS listings for a comprehensive list of homes available with 20% cash back through DC Condo Domain.