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Headlines: Close It! makes a splash; $1M condos at The Wharf

Here’s a quick look at what’s happening in real estate around the District of Columbia.

Record income gap fuels US housing weakness

The income gap between America’s richest and poorest metropolitan regions has reached its widest on record, shaping an uneven housing recovery that threatens to hold back the broader revival of the world’s largest economy. —CNBC

How SB-Urban plans to get its no-parking developments approved

Given the very low likelihood of residents having cars, the cost per parking space would be prohibitively expensive and add an unnecessary cost to the project, particularly when most of the spaces would go unused. Constructing parking that will go unused will lead to unnecessarily higher rents. — DC Urban Turf

Aptitude: Wondering what your closing costs will be? Ask CloseIt!

Whether you want something quick, easy and accurate to estimate closing costs and monthly mortgage payments, or you want to drill down into the numbers, this app takes the mystery out of closing. — Washington Post 

Why MLSs will soon be a lot more friendly to brokers

Currently, brokers and agents must often enter and maintain their listings in both their back-end office system and their MLS. With the Update feature implemented, agents will only have to enter their listings in their broker’s back-office system, which can then transmit their listings to the MLS. — Inman News

Revealing the facts and myths about DC’s street system

Once you get outside of the original part of the city, the system changes a bit, but Curbed is here to tell you how you can understand the system to know where you are at all times, and to explain some of the misconceptions you may have heard about the plan. — Curbed DC

Condos selling in excess of $1 million to be first project to open at The Wharf

The $1.5 billion project, to deliver 3.2 million square feet of new shops, offices, homes and hotel rooms to The Wharf, will take years to fully materialize. But the first test of whether the development will become a live-work-play environment will come a lot sooner than that, at least the live part of the three-legged stool. — Washington Business Journal

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