Headlines: An elevated park in DC? Wardman Tower to become condos

By September 24, 2014 Uncategorized
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Here’s a look at what’s happening in real estate around the District of Columbia.

Wardman Tower to become swanky DC condos

The prices will run from $2 million to up to $8 million or more, targeting the international crowd and the upscale — obviously — suburban Potomac and Great Falls contingent who are looking to reestablish their primary residence in a city location with lots of services. — Washington Post

DC’s elevated park may be best yet

Washington, D.C. plans to transform its abandoned rail infrastructure into a vibrant recreational destination, following the lead of so many other metropolises. — Fast Company

Jumbo mortgages now cheaper

For the last several months, interest rates on jumbo loans –mortgages that are $417,000 or more (or $625,000 or more in high-priced markets — have been lower than what average borrowers pay. — Realtor Magazine

More DC residents let strangers into their homes, happily

For some homeowners and travelers, the social aspect is a huge perk of short-term rentals. The hosts agree that the service attracts highly sociable renters with adventurous spirits. — Washington Post

First-time homebuyer tax credit introduced in DC

Councilmember David Grosso introduced legislation on Tuesday that would reduce the recordation tax rate for first-time homebuyers in DC from 1.45 percent to .725 percent of the property sales price. The recordation tax is collected by the city on all home purchases and goes to help fund the Housing Production Trust Fund. — DC Urban Turf

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