My intention was to write something nice about a Realtor, but came across a post in my search from 2005 about the real estate market then:
Lastly, I've been thinking of the whole, well now our Truxton/Shaw houses are worth 2x or 3x as much so such and such should happen. The fault I find in this is that houses in more established DC neighborhoods are also worth 2x to 4x as much. It is not that anything has happened. There have been improvements in transitional neighborhoods such as ours that make the price raises just more than inflation. However, my $300K (formerly $100K) fee simple house with yard is worth as much as a studio sized condo in Dupont with no parking or balcony.
And back in 2004, when my blog voice was way more snarkier:
There is a house at 1611 New Jersey Avenue for sale for, get this, $798,000. Crack, crack, PCP with an LSD chaser Crack is what the Realtors are smoking. And they must be giving it to their buyers. Yeah, it has 3 bedrooms and 2 baths, and I'm quite sure they are big and everything, but $800K? I know this place has no parking. For $800 grand you should have parking and your own personal crack ho. For less you can get a 5 bedroom 4 bath at 34 Quincy for less than $500K, or at $500K 69 Florida Ave. With the extra $300K you could buy an extra condo or for a tad more 1647 New Jersey Ave (a 2 bedroom 1 bath) for $310K.
Please stop the maddness, just say no to the real estate crack.
It's 2013 and what do I say after writing this week about 1621 4th St, saying, "A lot of thought and time has gone into making 1642 what it is, time and thought worth more than the $586,000 asking price." In 2004 & 2005 the prices were on crack.
In the early 00s this area was all 'up and coming' but there wasn't anything here but crackhos, drug dealers, nightly sounds of gunfire, greasy carry-outs and liquor stores behind scratched up bulletproof glass. No Big Bear, no Rustik, no Shaw Tavern, no Beau Thai... The cool stuff had yet to come. I can still remember when the building that housed Beau Thai was Dave's carry out, the smell from that place was bad. Now a lot of the plexiglass is gone, at many area businesses there is nothing between you and the employees but air. Oh yeah, and crime. There is still crime, but now the area has several cool places to make up for it. And there are fewer prostitutes. I don't see anyone working anymore, so I am guessing it's moved elsewhere or methods have changed, maybe girls are hooking using iphone apps these days, who knows?
In the early 00s Realtors were selling the promise of a better neighborhood, which isn't worth as much as the presence of a better neighborhood.