Comments on DC Home and Condo Prices: Lessons Learned

Great post, thanks!

2009-07-02T11:20:08.794-04:00

Great post, thanks!

Hi Keith, thanks for writing this advice as well a...

2009-07-01T20:26:39.833-04:00

Hi Keith, thanks for writing this advice as well as all the regular updates on the DC real estate market. Based on all your quantitative and detailed neighborhood research what areas do you see as up and coming or as a solid long-term investment in DC? My wife and I are looking in the 350,000 range and that does not go far in DC. The main neighborhoods that come to mind are Columbia Heights, H St/NOMA, and Petworth. Do you see these as any more viable or better than the other? Any suggestions and thoughts would be appreciated.

Keith--your "know the market" section su...

2009-06-30T20:11:26.754-04:00

Keith--your "know the market" section sums up the current market as well as anything I've read.

And I thought a home's FOIA was what you walke...

2009-06-30T15:54:46.109-04:00

And I thought a home's FOIA was what you walked into upon walking through the front door!

I got a million of 'em, folks!

If I could add another lesson I picked up buying m...

2009-06-30T13:52:58.100-04:00

If I could add another lesson I picked up buying my first home in Columbia Heights last month---verify that all renovation work is up to DC Building codes, ensure all renovations have been inspected by the city and passed, and obtain the seller's contractor's contact information and warranties on work/appliances. I just closed on a "renovated property" (leaving a sum of money in the escrow for repairs the seller still had to make), only to discover significant construction flaws within the home, the absence of any city inspections despite the seller's assurances the property had been inspected, and then lastly, a forged gas inspection notice.

While this probably isn't typical, the onus was on me to file a Freedom of Information Act request to obtain all the documents on my property. Without filing this, I would never have known that the seller had deceived me about the inspections, possibly putting my safety at risk, since the gas line had never been inspected (and has not been turned on nearly a month later). I wish I would have had time to get the FOIA information BEFORE closing.

My only solace is that the seller is willing to address many of the problems I've discovered. Trust no one and make sure you've done your research on your property!