Looking for Condo advice - please help! (condos, townhouse)

[aeava]

Hi everyone,

I'm looking to purchase a condo in DC. I want to spend max $350K, but would like to stay around $300-$325K.

I'm a 30-year old; work downtown in the business district.

I would love the area around U-street, etc., but that may be well beyond my budget, though I haven't researched yet. I don't mind moving to a place that is not at its best yet, provided that in some 3-6 years the area has been revitalized (and maybe even appreciated).

I heard talk of SW, around the waterfront Metro station; others have mentioned around the New York Avenue metro station; yet others mentioned closer to the DC armory for better prices...

I would just like to stay within 5-7 metro stops from farragut west and have some shops around because I don't have a car. I only need 1 bedroom, but 2 would be GREAT. Also, if getting a townhouse is a better deal, I'm all in.

Any thoughts would be greatly appreciated.



AEAVA

[saganista]

This should give you at least some idea of what's out there at the moment at $325K or less...

http://www.weichert.com/search/reale...d=36&maxpr=325

I don't think anyone can tell you what things will be like in 3 to 6 years. With the ballpark going in, the Navy Yard area should appreciate in general, but it will hardly be uniform. The effect of all that on the Waterfront area over on the Potomac side is hard to predict, but it's fallen short of expectations in the past. As it sounds like you'd want to live in whatever area in the meantime, use your farecard and take a run down there to see for yourself.

I wouldn't personally have that much faith in either NY Avenue or Stadium-Armory over the short-run, but that's just an opinion. Those areas have a ways to go before the money-people are going to be interested in them, it seems to me...

[aeava]

Thanks for the information.

I know I'll live in DC for another 5-6 years, and that's why I had mentioned the timeframe before.

I think I'll take a Metro ride to some of the districts you mentioned above and see for myself.

Any other thoughts are greatly appreciated everyone!



AEAVA

[saganista]

Well, aside from the Navy Yard, I think I mentioned only the same areas that you did. Still, if it were me, I wouldn't give up on Logan Circle. The eastern side is close to Metro, and with the market being what it's been, you might pick off a cherry over there if that's the area that you like. Keep an eye on the listings. You never know. Otherwise, Kalorama, Dupont Circle, and Adams-Morgan all have a lot of units, and they tend to turn over pretty quickly. West End might not be so bad either, depending on where the office is...

[ShaneOsborne]

Take a look at Capitol Hill near Eastern Market. The SE side of Capitol Hill is much nicer than than the NE side. There are some great new condos going up on Pennsylvania Avenue...about 2 1/2 blocks from Eastern Market Metro called Butterfield House. They look very nice and are convenient. http://www.butterfieldhouse.com/

[aggiekat]

At that price, I am assuming you're looking for a one bedroom? I seriously doubt you can find a two bedroom condo in DC in a decent neighborhood for under 450K. Two years ago, we looked in DC for a two bedroom and there was only one listed for under 400K and it was in a seedy area of Columbia Heights that was supposed to be up-and-coming. Two years later, it still hasn't up-and-come. You're better off looking in Rosslyn.