If selling your D.C. home is in the near future you undoubtedly want to maximize your profit. The good news is that the overall real estate market across the country is moving out of the recent slump and into a seller’s market. This means that home selling should, on average, bring higher profit margins for the foreseeable future. Don’t rely entirely on the market though. There are a number of easy to do, and relatively inexpensive, DIY home improvement projects that will make selling your Washington, D.C. home both more profitable and less stressful.
If you are moving to Washington, D.C., you will find that the number of real estate options at your disposal is quite high. In this bustling city where the most important work of American government takes place, you will find some of the most competitive selection of real estate on the market. One of the most attractive features that home buyers in the market are looking for is a home within easy walking distance of main amenities and attractions.
Washington D.C. is not just one of the biggest political hubs in the country; it is a major real estate location as well. With a bevy of different types of real estate located throughout the suburbs of D.C. it can be a challenge, at least at first, to decide on what property is right for you and your lifestyle. Whether Georgetown or Capitol Hill suits your preferences, there is bound to be the right home for you regardless of the neighborhood.
Homes are Better Than Other Alternatives
Washington, D.C. real estate includes some of the most historic buildings and residences in the country. What's more, living in Washington, D.C. means living amid the hustle and bustle of the nation’s capital. Some D.C. residents choose to live in modern condominiums or lofts; however, many of the more affluent residents prefer to live in a more traditional neighborhood with single family homes. When discussing Washington, D.C. real estate, people typically divide the area into four quadrants for purposes of clarification.
The Washington D.C. real estate market, like many other markets throughout the United States likely to slow down in the following months. Although the numbers still look much better than they did last year. The median home sales price in Washington D.C. rose from $345,000 to $375,000--an increase of nine percent--between August, 2012 and August, 2013.
In addition, the inventory of homes that are up for sale in the Washington D.C. real estate market is shrinking. The housing went from 17,734 in August, 2012 to 15,633 listings in August, 2013. That's a decrease of 12 percent.
Washington D.C.'s collection of green spaces got a little bigger last year with the opening of its newest park, Canal Park. Washington Canal Park, located in the heart of D.C.'s riverfront neighborhood, opened in November 2012, a symbol of that neighborhood's revitalization. Once an eyesore, the three-block park has not only brightened southeast Washington D.C., but sparked a wave of development, including the construction of several new high-end residential buildings.
About Washington Canal Park
When selling your home in Washington, D.C., the right marketing efforts will make all of the difference in how quickly you will find a buyer and how high the price will go. Here are some practical tips to keep in mind as you begin the process of selling your property.
Use the Right Agent
If you are selling a home in the Washington, D.C. area, understanding how to calculate the profit from a home sale will help you as you price your home. Home selling costs that impact your profit will have a role to play in this calculation. As you determine how much profit you can get for your home, don't forget these common costs.
Accounting for Your Own Mortgage Costs
The residential housing market is rebounding all over the United States, and the greater Washington D.C. area is no exception. The current median home listing price in the area is $424,557. That's an increase of 6.18 percent from this time last year and a 2.30 percent increase from last month. Those listing prices aren't just wishful thinking; homes in the Washington D.C. area are selling at prices near to or exceeding those figures. The median sales price in the Washington D.C. market for May was $482,900, a 12.9 percent increase over May, 2012 and a .9 percent increase over April, 2013.
Living in the nation's capital can be expensive. Washington, D.C. home prices tend to be higher than most cities in the nation, simply because of a lack of space and a high demand for properties. With that said, you can find homes in Washington, D.C. to fit your budget if you know where to look. These three neighborhoods offer plenty of amenities and prices that may work for you.
Affordable Properties in Foggy Bottom