Good morning Georgetown, here’s the latest:
Anecdotes are always a risky basis upon which to infer a trend. So take the following observations with a grain of salt. That said: GM has observed that over the past six months two different homes on his block have sold for north of $1 million in all-cash deals to parents who intend the homes for their Georgetown University student children.
This would appear really to be two different (possible) trends coming together: the rise of all-cash deals and the rise in parents buying housing for their student children. The first one is definitely happening. With supply not remotely meeting demand, buyers have had to make all-cash offers if they can. This advantages the seller since it leads to quick closings with no pesky banks demanding appraisals.
To the average person, this is a striking and alarming trend. It puts buyers who don’t sit on a huge pile of money at a great disadvantage, even when they can afford the house. And it is all the more striking and alarming when that very real trend plays out with parents buying housing for their children.Continue reading
This week on Georgetown Time Machine, GM visits the west end of M St. circa the 1960s. And it offers a striking contrast to the scene today.
The specific location is the intersection of 33rd and M, looking east. Right away one thing you’ll see is that the historic Georgetown market (soon to be a fancy Italian restaurant) was then occupied by Southern Distributors Auto Parts Store:
Nearby you can just make out the horse statue outside of Stombock’s (which sold horse riding equipment):
You also have a great view towards what later became the Georgetown Park Mall:
The long building lurking behind the M St. buildings was the old streetcar storage facility whose footprint was used to build the mall in the 80s.Continue reading
In celebration of Pride, a “loud and colorful” boat with dancing unicorns will buzz by the Georgetown waterfront this Saturday afternoon at 2:45ish.
What does a boat full of dancing unicorns celebrating pride look like? Well check out this interview from Wharf Life with the man behind the plan:
Georgetown doesn’t get much of a taste of the rowdy colorful fun of Pride. But this should give us a little bit of it.