Eastern Market on Capitol Hill Washington DC

Known for much of it's existance as an unofficial town hub for the Capitol Hill neightborhood, Easten Market is DC's oldest continually operated fresh food public market. Designed by architect Adolf Cluss and built in 1871, the building began serving as a public market in 1873 and has continued to do so to the present day, with the exception of 2 years when the market moved across the street due to fire damage and the subsequent repairs. Close to the eponymous Metro stop serving the Orange and Blue line trains, Eastern Market is easy to get to.

The Market is open during the week, with the exception of Monday, and is home to thirteen merchants with permanent stalls selling a wide variety of flowers, seafood, meats, cheeses, fruits, vegetables and baked…

3933 Views, 0 Comments

Read Full Post

Real estate is an jargon filled industry.  Here is an attempt to declutter some of the terms.

Let's start with what is the "value" of a house?:

Appraisal:
This is what the bank uses to determine how much money they will lend on it.  This number can be flawed. 

  • It is based on past data.  Appraisers can only look at homes that have sold in the last 180 days.  We all know the adage that "past performance is no guarantee of future return."  Looking at the prices of similar houses that sold recently should only be the starting point in analyzing what a home is currently worth.  Appraisals often miss turning points in markets and are often low in a rising market.

Assessment:
As a home owner you want this number to be as low as possible, as this is the…

936 Views, 0 Comments

Read Full Post

DC real estate market is HOT! 
Now this is not really news, (DC Metro home prices are up 5.9% according to Case Shiller  and are up 8.5% year over year for DC according to RBi) as DC has remained a very strong market even in the downturn nationally.  But it It is clear that many buyers who have sat on the sidelines for the last 4-5 years are now ready to buy.  Inventory is picking up a little bit, as it always does around this time of year, but we still have 30% fewer houses on the market than last year and about a 2/3 less than 5 years ago!


Fewer homes for sale + More buyers + low interest rates = Increasing prices.

Found your dream home?  Now what?
If you've found a property you love, you now need to decide how much you're willing to offer.…

1125 Views, 0 Comments

Read Full Post

Imagine this?  A real estate agent reccomending that you should buy a house... Shocking!  Well... here are the top 3  reasons you should consider buying now:

  1. Rents are going up
  2. Interest rates are going up
  3. Prices are going up

Rents:
Rents in DC are increasing at an increasing rate.  Why are you paying your landlord's mortgage?
In DC buying is 41% cheaper than renting.  Yes you read that right!  See the article here.  Buying now will save you money.

Interest Rates:
Predicting the future is a fools game, but... it is clear that these historically low interest rates are not here to stay.  Here is a real world example of the impact of interest rate increase on the monthly costs of a mortgage.  In DC the median price is $432,500 (Assuming a 20% down…

977 Views, 0 Comments

Read Full Post

Here's your chance to live in the height of city luxury in a masterpiece of 6 custom-finished levels. Situated on 18 acres of fenced land in the heart of downtown Washington, DC, this lovely home encompasses an astounding 55,000 square feet of living space. 

Built originally in 1792, the 132 room, 35 bathroom home features an open, flowing floor plan with 412 custom handmande doors that allow you and your guests to glide effortlessly between rooms. Light streams into your new abode through 147 windows; they also provide unbeatable city views! On those cool winter nights, curl up with a book or a bottle of wine next one of 28 fireplaces spaced graciously throughout this true American manor home!  Since it deserved a $5.7 million reconstruction in 1950,…

1173 Views, 0 Comments

Read Full Post

440 12th st ne washington dc street view     440 12th Street NE #112, Washington, DC 20002        Closed at $457,500    Abbott Klar Real Estate Group is happy to announce they sold this stunning Capitol Hill condo in a beautiful historic building. This 1 bedroom, 2 full bath with loft space condo features gorgeous hardwood floors. Large windows allow natural light to stream in through this open floorplan. In the middle of everything, you can walk easily to Union Station or Eastern Market and relaxing Lincoln Park is only 3 blocks away. Congratulations to our buyers, we know you'll love it here!           Thanks for reading our blog! We at Abbott Klar Real Estate Group are an experienced, full-service real estate team that specializes in the diverse…

992 Views, 0 Comments

Read Full Post

Alley house on Capitol Hill.
Check out our newest listing on Capitol Hill.  512 F Street Terrace.

We love DC! Where else can you find an absolutely adorable Federal house in an alley? 

DC has a limited number of alley dwellings that are still used as residential homes, combining all the best of city living while still retaining an element of privacy.   This unique Capitol Hill home is right next to Eastern Market and all that makes Capitol Hill one of the best neighborhoods to live in. This alley house is ready to move in with modern systems, hardwood floors, renovated kitchen and private rear patio.    




Green Living: is all about not wasting resources.  So get rid of your extra stuff, sell that car, sign up for bikeshare and carshare and live the…

3154 Views, 0 Comments

Read Full Post

The Spring Market is here!  The DC real estate market got a very early start this year due to historically low interest rates and very low inventory.   According to RBI  :

  1. The median Sales price for Washington DC is up by 8.5% over last year.
  2. The inventory of homes for sale down by 38% year of year.


Buyers report that:

  1. "There is nothing on the market". Well, not really nothing, but the inventory is very, very low.  In fact we are at about two-thirds the inventory of houses as compared to last year.
  2. "The competition is fierce". With inventory being low, there are lots of buyers out there all competing for the same house. 

Real Estate Agents report that:
"Only two types of houses are selling right now."

1)  Complete shells, in other…

1485 Views, 0 Comments

Read Full Post