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Category: The Real Estate Market

Best Logan Circle & U Street: Real Estate

By Julyssa Lopez

New condos and apartments in the heart of DC

The Metropole has a salon, spa, and gym in the building.

>>See our full guide to U Street and Logan Circle 

The U Street and Logan Circle neighborhoods were hit hard by the 1968 riots and sat dormant for decades afterward. But now they’ve become two of DC’s most sought-after places to live.

Prices range widely. Some new loft-style condos go for $600 a square foot, but in some older buildings you can get a studio or one-bedroom in the $300,000s. Houses generally start in the $400,000s, with most selling for at least $600,000 and many for more than $1 million.

While there’s been a lot of residential construction, many of the newer condominiums have sold out. Here are buildings with new units still available.

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Category Tags: The Real Estate Market

Best of Silver Spring: Where to Live

By Julyssa Lopez

>> See the full best of Silver Spring guide here.

With the revitalization of its downtown, Silver Spring has become one of Washington’s most interesting areas. Many new condo and apartment buildings have gone up in the last five years, and more are being built.

Blocks from the Silver Spring Metro station, the Veridian Apartments (1133 East-West Hwy.; 301-495-9595) opened last winter. The 457-unit rental building has a rooftop pool, conference room, environmentally friendly roof, sun deck, and lounge with billiards and televisions. Floor plans include studios, one-bedrooms, and two-bedrooms. About 20 units are still available, ranging from $1,250 to $2,630 a month.

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Category Tags: The Real Estate Market

Best of Fairfax: On the Market

By Gwendolyn Purdom

Where to find new condos, townhouses, and single-family homes.

Townhouses at Centerpointe have at least three finished levels plus optional rooftop terraces.

>> See the full best of Fairfax guide here

Fairfax home prices have dropped a lot in the last year, says Ann Goss, a real-estate agent with Century 21. But she adds that the foreclosures and short sales that helped depress the market are starting to dry up.

Detached houses in Fairfax City and the surrounding areas cost $450,000 to $900,000 or more, Goss says. A roomy three-level home with a two-car garage typically sells from the upper $500,000s to the mid-$600,000s.

High-rise condo buildings are unusual in Fairfax City; garden-style condo communities are more common. Among single-family homes, three-level Colonials are sought after.

Condos and Townhouses

Centerpointe

This community of 90 modern townhouses opened in 2006, and there are still 14 units for sale. Homes have rooftop terraces, two to five bedrooms, up to four bathrooms, and two-car garages. Prices range from $460,000 to $650,000.

4156 Rush St., Fairfax; 571-432-0110; eya.com/centerpointe.

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Category Tags: The Real Estate Market

Best of Penn Quarter: City Living

By Gwendolyn Purdom

New condo and apartment buildings that have lots of amenities and are close to the action.

Photograph courtesy of City Vista.

Photograph courtesy of City Vista.

>> See the full best of Penn Quarter guide here

The 1997 opening of the Verizon Center marked a fresh start for Penn Quarter. “Back then, there was literally one place to eat,” says Aidan Duffy, a real-estate agent with Long & Foster. “Then the Starbucks starting popping up.” Next came a flood of condo and apartment buildings, restaurants, and shops. Today Penn Quarter is one of DC’s liveliest neighborhoods.

Because most of Penn Quarter’s condos and apartments were built within the last decade, many are contemporary—granite countertops, lots of windows. Robin Waugh of Weichert Realtors says properties sell quickly, but new listings come on the market often. Penn Quarter is pretty well built out. To find new buildings with units for sale and lease, we looked to nearby areas such as Mount Vernon Square.

Most Convenient

At the K at CityVista (1045 Fifth St., NW; 202-640-1302), condo owners have a dry cleaner, Busboys and Poets restaurant, Starbucks, and Safeway downstairs. The 12-story, 292-unit building has a rooftop pool and a one-acre private park. Floor plans range from one-bedrooms to two-bedrooms with dens. Prices for remaining units—the building is about 80 percent sold—start around $400,000 for a one-bedroom with den and go up to about $600,000 for a two-bedroom.

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Category Tags: The Real Estate Market

The Week in Real Estate

By Alejandro Salinas

Every Friday, we round up the week’s real-estate news and gossip.

• A six-bedroom, 14,000 square-foot home near Dupont Circle sold for $12 million, making it the highest residential sale in the city this year. [Urban Turf]

• A look a the staggering (though not surprising) drop in condo projects over the past two years. [Housing Complex]

• Some are calling for changes to the city’s Green Building Act in order to comply with the latest LEED standards. [WBJ]

• Though not yet on the market, rumor has it that there’s already a flurry of interest over George Stephanopoulos’ five-bedroom Georgetown house.

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Category Tags: The Real Estate Market

The Week in Real Estate

By Alejandro Salinas

• With development proposals for the Franklin School near Eastern Market due next month, debate over its fate has started. [WBJ]

• A look at some of the odd, sometimes funny cases that pass through the city’s landlord and tenant court. [Housing Complex]

• Work to repair the damage caused by a 2007 fire is underway at the Georgetown Library. The project, which includes replacing  the building’s roof, is expected to finish by mid-2010. [DC Metrocentric]


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Category Tags: The Real Estate Market

Best of Vienna & McLean: On the Market

By Gwendolyn Purdom

Where to look for new condos, townhouses, and single-family homes.

>> See more of the best of Vienna & McLean here

Vienna and McLean are prime locations for corporate offices, but living there has perks, too. Among them: Tysons Corner shopping, good schools, and easy highway access.

Homes priced under $800,000 in McLean move quickly. Though the upscale suburb has multimillion-dollar estates, most newer houses cost around $1.8 million to $2 million. Homes in Vienna are priced more moderately, ranging from around $400,000 to around $2 million.

For new homes, the Arts and Crafts style is popular. Houses that are low maintenance and energy efficient are also sought after. Buyers should expect to pay at least $1.2 million for an energy-efficient home in Vienna and at least $1.5 million in McLean, says Lilian Jorgenson, a real-estate agent with Long & Foster.

Condos and Townhouses

At One Park Crest (8220 Crestwood Heights Dr., McLean; 703-356-0030), about half of the 335 condos have sold. The high-rise offers a lounge, a gym, a rooftop pool, and views of Washington National Cathedral and the Blue Ridge. Prices range from $350,000 for a one-bedroom to $2 million for a penthouse.

Morgan at McLean (1781 Chain Bridge Rd., McLean; 703-356-6035) contains 32 condos, with three still on the market. Residences are spacious and energy-efficient and are priced from $585,000 to $699,000.

The Reserve at Tysons Corner (8037 Reserve Way, Vienna; 703-288-3361) is blocks from Tysons Galleria and minutes to the Beltway. The 56-unit townhouse community has a pool and clubhouse. Construction is scheduled for completion in January; two units remain. Prices range from the $600,000s to the $800,000s.

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Category Tags: The Real Estate Market

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