Tag Archives: Real Estate

Georgetown’s Real Estate Results for 2009

As 2009 draws to a close, GM has decided to take a look back at the Georgetown real estate market for the last year. After crunching the numbers, GM has reached the predictable conclusion that it wasn’t a good year for sellers.

There were 199 homes sold in Georgetown in 2009. The average/median listing price was $1,374,447.13/$1,050,000. The large disparity between the median and average prices reflects the fact that the Georgetown market has a handful of extremely expensive properties.

Of course the more interesting number is what the sales price was. Not surprisingly, it’s a lower number than the listing price. The average/median sales price was $1,251,778/$975,000. Continue reading

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Guess Who’s One: The Most Popular Post

To celebrate its one year anniversary, the Georgetown Metropolitan is counting down its most popular posts. Today the most popular post, by a long shot: JFK House For Sale.

It’s a bit ironic that this is the most popular post from last year because it was one that took nearly the least amount of effort to write. From walking by, GM had noticed that the house was for sale, knew its history and its current tenant, and one Sunday night couldn’t think of anything else to write about. It goes to show that anytime you put the words JFK and Georgetown together, you’re going to get people interested.

The post was so popular because Politico picked it up (via Citypaper). More titillating was the fact that the house came under contract the exact same day. GM started to wonder whether he had something to do with closing the deal. He got in touch with agent Nancy Taylor Bubes to verify whether his post inspired some Kennedy-lover to jump at the chance for a piece of JFK-lore.

Turns out the deal was pretty much done already. Oh well.

JFK’s first house in Georgetown is currently for sale. From 1947 to 1949, then Congressman John Kennedy lived at 1528 31st. St. with his sister Eunice Kennedy.

Most recently it has been the home of Republican Whip Roy Blunt. He has announced that he’s running for Senate in Missouri next year, so perhaps this sale is part of that effort. It is listed for $1.595 million by neighbor Nancy Taylor Bubes of Washington Fine Properties.

Update: It looks like the house is under contract and has been pulled from Redfin. It’s still here on WFP’s website though. Behold the power of the Georgetown Metropolitan to move real estate.

After the jump, some pictures from inside: Continue reading

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The Morning Metropolitan

Georgetown garden by Vpickering.

Good morning Georgetown, here’s the latest:

  • MPD officially releases the name of the elderly woman who died in the O St. fire (or rather, as initial reports indicated, who’s death caused the fire on O St.). Nadegsda Stanley was 78 years old.
  • Average price of homes sold in Georgetown dropped $120k from June to July.
  • Gallery tour this Friday.

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DC Home Prices Bounce Off the Bottom

Last week GM explored the question of whether Georgetown’s real estate market thawed out in the spring only to crash again this summer. Yesterday the New York Times published an article claiming that homes in DC had actually risen 1.3 percent from April to May of this year. Here’s the chart of how the DC home prices have changed from the year earlier since 2001:

DC Real Estate Chart

Courtesy of the New York Times

From this chart, it would appear that the DC market has been pulling back from the brink steadily since the beginning of the year. Home prices are still down 14% from a year earlier, but in December it was almost 20% down.

Do you think this chart reflects Georgetown? GM still thinks home prices are at 2004ish levels, but perhaps they’re starting to turn back around. Will we see 2005 numbers by 2010?

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Real Estate Website: Incredibly Informative, Sorta Creepy

GM came across a real estate website today that allows you to review real estate news by neighborhood. Georgetown’s is here. While this website has done an amazing job gathering public information, at some point it just gets a little creepy. Find out why after the jump:

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Is This Haunted or Something?

Is This House Haunted or Something?

How else to explain a four-bedroom home on the 3100 block of P St. selling for only $1.195 million?

How can $1.195 be a great deal you ask? Well, another four bedroom house of a similar size just down the block is selling for $2.49 million. Take a closer look at this (perhaps haunted?) house after the jump:

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Facing Closure – Nathans Seeks Last Minute Reprieve – UPDATED

 

Nathan's Last Day March 30th?

As one beloved neighborhood establishment has its head possibly added to the chopping block, another already on the chopping block is seeking a last minute reprieve. It has been long expected that Nathans Restaurant at the corner of M and Wisconsin would close this year. In fact, if a reprieve is not obtained the restaurant will close on March 31st. Owner Carol Joynt (bringer of the bad news about Scheele’s) has been very public about her plight to save Nathans. Notwithstanding the doom and gloom, from her recent missives there appears a slim chance that Nathans will survive till April Fools Day and beyond. Read more after the jump:

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Scheele’s Market Building for Sale

Scheele's Market Building For Sale

Carol Joynt alerts GM to the unfortunate news that the building that houses Scheele’s Market at 29th and Dumbarton is up for sale. A sale could lead to the closing of the beloved corner store. Find out more after the jump:

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Greater Georgetown

It is an old real estate trick to use a “desirable” neighborhood name beyond the boundaries of that neighborhood. For instance, every block west of 14th and south of U used to be called “Dupont” until Logan Circle developed its own cache. Now “Dupont” has shrunk as “Logan” advances. Perhaps no neighborhood is subject to more deceptivecreative expansion than Georgetown. Whether through laziness, misunderstanding, or outright subterfuge, the neighborhoods of Burleith, Glover Park, Foxhall Village, Foggy Bottom, and the West End frequently get the name “Georgetown” erroneously attached to them.

Generally this is a completely harmless event and Georgetowners shouldn’t get snobby about it. Nonetheless, the more egregious examples of this creativity need to be called out. And so GM introduces the feature “Greater Georgetown” wherein particularly lazy or deceptive uses of the name “Georgetown” are discussed.

After the jump, the inaugural class:

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