Okay, I want a house 2 blocks from the metro, with more than 1,500 square feet, a nice sized southern facing backyard, decent front yard, quiet, near a good restaurant/coffee shop, with parking, in northwest, in move in condition for about $200,000.
You can stop laughing now.
I’m about 4-4.5 blocks from the metro, small yards, no parking, quiet??? depends, under 1,500 even counting the cellar, in NW, and close enough to Big Bear. However, I would have to be either mentally insane or desperate for a quick sale to even consider selling my lovely home for anything in the $200K range.
So with that in mind let’s head over to Redfin to see what’s selling around the hood for less than $200K and $300K. In the general Shaw area, you can get a parking space for something in the $30K range, a foreclosed condo for $165K, and a short sale condo for $159K in the same building. Over in Mt. Vernon Square there is still 481 Ridge Street NW on the market for $199,900. Yes, it will require a lot of work, but come on, it’s two blocks from the metro, a couple of blocks from the Safeway. What’s not to love?
There are two actual ‘affordable housing’ co-op units available up near U Street. The listing reads as, “PURCHASER MUST BE APPROVED BY COOP AND MAKE LESS THAN $48,800.00 For Single Buyer and $51,200.00 for two buyers.” However the monthly co-op fee, and explains why co-ops are so cheap, is $1,045.
When you bump up the search to include places $300K or less there are more choices than the odd foreclosure and short sale. More foreclosures and short sales. There is a short sale in the Rhapsody, a foreclosure on 6th St, on and 5th St in that weird funky looking townhouse with the thing in front. There are some regular places that either need lotsa work, or some work, or are 1 bedroom condos (see here, here and here). I dunno what category to put 36 Q NW, a 4 bedroom condo @ $295K that’s been on the market for 585 days. What’s wrong with it?