Tag Archives: Real Estate

The Morning Metropolitan

Photo of NYE hat floating at the Washington Harbour by Brownpau.

Good morning Georgetown and happy 2012! May the Mayans be wrong and your coffee just right! Here’s the latest:

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The Morning Metropolitan

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Good morning Georgetown, here’s the latest:

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The Morning Metropolitan

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Good morning Georgetown, here’s the latest:

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GBA Holds Forum on Economic Development

Wednesday night the Georgetown Business Association held a forum on economic development in Georgetown. It’s a topic that is much on the minds of business owners and residents alike.

The panel included representatives from across the Georgetown business spectrum and also Councilmembers Jack Evans and Vincent Orange. When asked what the city can do for Georgetown, Evans highlighted three things: keeping crime low, transportation, and taxes. Typically when Evans talks about taxes, he talks about keeping income taxes low in order to attract and keep high income residents, but on this occasion he focused on the effect of higher taxes on small businesses. He stated that 25-30% of the new top income tax rate for DC will hit small businesses (for what it’s worth GM’s never heard that stat before, and it doesn’t sound quite right to him).

Vincent Orange emphasized a DC law that requires DC agencies to spend 50% of their procurement budget on small businesses. He stated that right now 31 agencies are out of compliance. Orange also highlighted the DC Streetscape Relief Fund, which offers interest free loans to businesses affected by disruptive street construction, like that seen on H St. NE. Good initiatives both of them, but they’re not really going to help out Georgetown small retail shops much (although Karen Ohri of Georgetown Flooring pointed out that a lot of their business is for institutional clients, so stores like hers could benefit from the procurement law). Continue reading

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Real Estate Results Way Down

GM finally got around to crunching the real estate numbers for the first half of 2011, and they’re not good. While the average price ticked up, the price per square foot is down and the volume is way down . Here’s how it breaks out:

  • Total Homes Sold:
  • First Half 2010: 147
  • First Half 2011: 107 (down 27%)
  • Average Starting Price:
    • First Half 2010: $1,377,478
    • First Half 2011: $ 1,471,836 (up 7%)
  • Average Selling Price:
    • First Half 2010: $1,242,767
    • First Half 2011: $1,307,922 (up 10 %)
  • Average Drop in Price From List:
    • First Half 2010: 9.8% drop
    • First Half 2011: 11.1% drop
  • Average $ per Square Feet:
    • First Half 2010: $719.05 $/SQF
    • First Half 2011: $685.68 $/SQF
    If you’re more of a visual person, here’s how the respective periods compare in chart form: Continue reading

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    New Project Planned For Cecil Place and Grace Street

    Despite the potential for a double-dip recession, condo construction in Georgetown is moving ahead full steam. On top of the planned projects at the Ket Bridge Exxon site, the Post Office, and the Verizon building parking lot (all EastBanc projects) a new project has popped up. It’s for a brand new building at the corner of Cecil Pl. and Grace St.

    Right now the location is a parking lot:

    The lot is owned by G.M. Steinbraker & Sons, a third generation Georgetown-based general contractor firm based out of a workshop just down the block on Grace St. Continue reading

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    The Morning Metropolitan

    Photo by M.V. Jantzen.

    Good morning Georgetown, here’s the latest:

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    The Morning Metropolitan

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    Good morning Georgetown, here’s the latest:

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    Real Estate Week: The Tiniest House

    This week, GM is off vacationing in the cool and beautiful Pacific northwest. But he’s not going to leave you completely in the cold (or sweltering heat, as the case may be). He took some time to find some of the more unusual or attractive homes on the market in Georgetown right now and will show them off this week. (While this probably would be a good way to make money, rest assured, GM isn’t getting paid for this.)

    The first house that GM has loved since he first moved to Georgetown is 2726 P St. It is possibly the skinniest house in Georgetown, if not the city.

    Skinny kitchen Continue reading

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    Top Five Biggest Property Tax Bills in Georgetown

    Photo by AlanCleaver_2000.

    Next week, GM is heading out of town for a vacation. Not one to allow radio silence, GM prepared a series of posts to run in his absence next week. The focus will be on real estate. While doing some research, GM came across a list of the top five real estate bills in Georgetown, and he decided to share it.

    So without further ado, here they are:

    #5 – 2920 R St. – $86,514.70

    This is the Beale-Washington House, which many Georgetowners simply call “Katharine Graham’s House”. Nowadays it’s owned by Mark Ein.

    #4 – 1617 29th St. – $88,330.30

    One block over from the Graham house, this is the huge house that was built by one of the founders of IBM. Continue reading

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