Headlines: Rents on the rise; 45% of homes deemed ‘affordable’ to DC metro middle class
Here’s a look at what’s happening in real estate in the District of Columbia and beyond.
Statistics refer to the DC metro area as a whole — a very large statistical area — not to DC proper. -Urban Turf
Rents are rising most in the local housing markets where renters are already stretched thinnest. In the five least affordable markets, rents are now 7.8 percent higher than they were a year ago. -CNBC
Buyers have more leverage in the negotiations, including price, earnest money deposits and contingencies. The longer a home sits on the market, the more control buyers will enjoy. -Washington Post
Developer JBG Cos. recently announced prices for its Atlantic Plumbing condos at Eighth and V streets, Northwest, with junior one-bedrooms starting in the high $300,000s to penthouses for $1.9 million. – Washingtonian Magazine
Real estate agents making referrals to service providers in Maryland can now be fined up to $5,000 if they violate a new state Real Estate Commission regulation. -Washington Post
Lists such as the National Register of Historic Places and the D.C. Inventory of Historic Sites were formed to preserve landmark buildings. Properties on the list are acknowledged and protected from being completely demolished because of their cultural significance. -Elevation DC