This is a spacious unit has two bay windows that allow loads of sunlight from the front and it has a plush greenspace view out the back. Updated stone and stainless steel finishes, a separate dining area and a large bathroom with a washer & dryer set.

Only a short walk to Howard University, the U Street Metro and the newly renovated  Howard Theater, this is a great opportunity to own a direct entrance condo in the heart of Ledroit Park.

*******Agents, this property is listed as 2022 Flagler St. in the MLS

We’ve converted a freshly renovated 3 level row home into party and event space for our 2^nd Annual Fragrance Release Event & Cocktail Party.  Save the date for Thursday, April 26 from 6 – 9 p.m. and join us at 1163 Abbey Place, NE in the H Street Corridor.

It’s just a few blocks from the NOMA Metro. We’ll have food, cocktails  and live entertainment so bring your friends and tell your coworkers.  Come early and stay late because throughout the night we’ll be giving away valuable designer fragrances…with many more designer fragrance samplers that will be free to all.  Just please RSVP on Facebook and make sure to share it with your friends.

Enjoy food, drinks, and a chance to score a free designer fragrance. It’s also a chance to learn about UrbanLand Company listings all across DC, including hot new properties on Sherman Avenue and 6^th Street in NW and T Street in NE.

If you’re a currently renting and thinking of buying your first condo or home in downtown D.C., attend our Homebuyer Seminar on Saturday morning, 4/28 from 10a.m. – 11:30a.m. at our offices.

The seminar is a fast, fun format & you’ll find out a lot about programs that make it even easier to buy that are unique to Washington, D.C. Several D.C. organizations sponsor programs that can give you up to $44,000 in homebuyer incentives to use when purchasing your first home in  the city.

Current D.C. housing prices, low interest rates & attractive subsidized financing packages make now the time to seriously consider buying in downtown D.C. Units are selling across the city, inventory is starting to diminish & prices will most likely begin to rise.

RSVP on Facebook! Topics include:

*The DC Bond Program, with fixed rate, 30 year mortgages at 4.5%.

*The Home Purchase Assistance Program (HPAP), with 0% interest the first 5 years, up to $40,000 in downpayment assistance & an extra $4,000 in closing costs help.

* Special D.C. government employee programs (EAHP) with up to $1,500 in downpayment grants & up to $10,000 in deferred downpayment loans.

* Other mortgage programs & financing issues relevant to first time homebuyers.

After the event, those interested can tour current available projects & may also attend hard hat tours of projects currently being prepared to list on the market. Discussed in detail will be new, low priced 1 BR condos currently opening on Sherman Avenue, NW and a new Affordable Dwelling Units (ADU) project coming soon.

Please RSVP on Facebook if you are attending, as seating is limited. If you do not have a Facebook account, please email info@urbanlandcompany if you plan to attend.

Hot new condo property coming to 22 T Street, NE. This is a new spin on a classic Victorian building with just two large condominium units for sale. Choose from a 2 bedroom or a huge 3 bedroom residence – both with balconies or roof terraces and great outdoor space.

This is particularly an issue in the D.C. area, as the main reason for slowdown in the local real estate for sale market has been due to bad national news, national recession and national unemployment. The D.C. market itself has faced no real recession and those wary due to national news have chosen to rent over buying.

The average rent in downtown D.C. currently is $1,521 per month. That is a 5.4% annual increase over the previous year. Rents are actually appreciating faster than home prices for the first time in a long time.

This is bad news for renters. But what it really means, is that the economy is improving and that a % of renters will become first time homebuyers as they realize that they can safely afford a monthly mortgage payment. Even now, at least in Washington, D.C., higher rents are starting to turn many tenants into home shoppers,  as purchasing a home seems like a bargain compared to throwing your money away every month on rent.

One of the most common and popular ways to build personal wealth is by owning your own home. Whether it’s a condominium, townhome or single family home, money spent monthly on your mortgage acts just like money put away in a long term savings account.

This idea becomes more clear when you add in another factor – the value of a home can appreciate much faster than money invested in a savings account with a low interest rate. In a situation where your home increases in value annually, your wealth or investment in the home increases two fold – 1) as you pay the mortgage, you owe less on your original loan amount; and 2) the overall value of your home or asset increases.

In overly simplified terms, if the $250,000 condominium you purchase this year increases in value to be worth $280,000 two years from now, you have increased your net wealth from your home investment in the following ways:

• Gained $30,000 in “free wealth” – the difference between the $250,000 price when you bought compared to the $280,000 it is worth now.
• Gained back the 24 months of mortgage payments just as if deposited the value of your monthly payment into a savings account.

If you are a renter and do not own your home, you have simply paid your rent every month to your landlord, and they have used your rent money to increase their own net wealth in the same ways.

These calculations are overly simplified and does not take into account monthly property taxes, maintenance, insurance or mortgage interest. But as you can see, those who buy a home get their most expensive monthly costs – their cost of living – re-invested every month into building their personal wealth.

The D.C. real estate market is showing signs of rebounding, with home prices starting to move upwards again. Mortgage rates are extremely low, meaning that the interest you pay on your loan will be minimized. Down payment amounts are also low, meaning you can purchase a home with as little as 3.5% of the purchase price required. For those who are gainfully employed with a stable income, there has never been a time to buy a home or invest in real estate.

Here are some examples of what new or recently renovated luxury condominiums will cost you in downtown Washington, D.C.:

A 1BR 1BA with luxury kitchen and luxury bath finishes located just 6 blocks from the hot U Street Corridor currently lists at $249k. Ledroit Place Condos is on quaint and Victorian Anna Cooper Circle – several units remain as the building is 65% sold out.

Large 2BR 2BA units are available at Stella Condos in Eckington starting at just $267k. Again, these condominiums are freshly renovated with all-new interiors and slick urban finishes throughout.

Just opened is The Lexington at 12 S Street NE in Eckington. These are huge 1,000+ square foot 2BR, 2BA residences with sophisticated bathroom finishes and features. This is a very unique Victorian building just recently renovated. First units for sale list at just $315k.

Coming Soon are The Avenue on Sherman Avenue and 315 G Street in Capitol Hill. Both will feature 1BR 1BA condos priced very attractively.

Contact us today at 202.299.9223 or email info@urbanlandcompany.com. If you’re a first time buyer and want to explore purchasing a condominium or home in DC, MD or VA, we are happy to help you on a low pressure basis. Our agents strive to make finding the right home affordable and easy.