Groundbreaking for United Negro College Fund

After many years of waiting, Shaw residents can finally rejoice with the official (but quiet) groundbreaking of the Progression Place, the new headquarters for the United Negro College Fund at 7th and S Streets, NW.

The original project, Radio One, faced many delays which frustrated Shaw residents to no end.  Finally, they pulled out and the city found a new tenant for the project, the United Negro College Fund.

Ellis Development is the developer of Progression Place and it will have 100k s.f. of office space, 224 apartments, and wrap-around ground level retail, serviced by 188 below-grade parking spaces. The development plans also call for a face-lift for 7th Street retail frontages.


Source: DCMud

Washington Region Posts Gains in Housing Prices

The Washington region is one of only four metropolitan areas that has posted a gain in housing prices in the country.

Home prices climbed 3.7% in Washington in October from a year earlier, making it one of the few in the nation to actually go up.

A strong job market, an increase in population, increasing rental prices, and low interest rates have contributed to this increase in demand for housing in the DC region.

If you are considering to buy a house in the near future, now may be a good time to start looking before the interest rates go up and/or housing prices continue to climb.

More information at http://www.washingtonpost.com/wp-dyn/content/article/2010/12/28/AR2010122801269.html

DC Rental Prices are up 22%

DC rental prices continue to go up with fewer and fewer vacancies (NY has more than DC now).  Prices have increased 22% in 2009 from a decade earlier, combined with the fact that DC now has over 600,000 residents (an increase for the first time sine Truman) has led to fewer vacancies with increasing prices for renters.

More information at http://voices.washingtonpost.com/local-breaking-news/dc/the-big-squeeze-dcrent.html

DC $5,000 Homebuyer Tax Credit Extended Two Years Through 2011

Congresswoman Eleanor Holmes Norton succeeded again in securing another two-year extension of the popular $5,000 DC homebuyer tax credit, and business incentives, including a $3,000 wage credit for each DC resident hired by, or already employed at, many DC businesses.  The incentives will be retroactive for 2010 and will continue through 2011. Thanks to Congresswoman Norton for her continued efforts. Read more.

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Welcome to DC Real Insight, your guide to the DC, VA, and MD housing market. 

The main goal of this blog is to provide you with the latest information in helping you with buying or selling your home. 

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