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What Washington DC neighborhood has best "up and coming" growth potential?

I'm interested in taking advantage of the $8K first time home buyer tax break and purchasing a small home or condo in the Washington DC area.  I want something that will grow in value in the long term.  What neighborhood do you think has the best growth potential? I'm thinking about the condos by the new Nationals Stadium (where the construction is currently on hold) as the first place to start to rebound when the market comes back?
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June 22 2009 - Washington
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Answers (13)

H Street fo sure.  With the change that are going on there, the influx of restaurant after restaurant, the trolley car system, the streets being cleaned up and big houses that are still very affordable, thats where I've been telling my clients to be.  Its very reminiscent of 14th and what took off there. What you can buy there now and what it will be worth in 5 years, has the most growth potential.  

One caveat. I just joined Zillow, hence why I have no reviews or contributions to date. I created my account today. I have been an accomplished agent in DC for 10 years, 
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April 12 2011
you have to be pretty clueless to post " I like area xyz" when the pos below you shows it dropped 13% since the question was posted...
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June 09 2010
I think Columbia Heights has good ROI potential.  The area was in the process of a revitalization when the housing crisis struck.  There were alot of investors rehabbing the area and now are trying to sell off the properties and cut their losses.
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June 09 2010
PS. The Washington Examiner reported yesterday that DC residential property values are down between 3 and 4 percent. They highlighted a few neighborhoods:

»  Anacostia: 9.23 percent decline

»  Cleveland Park: 4.45 percent decline

»  Columbia Heights: 13.19 percent decline

»  Foggy Bottom: 3.29 percent decline

»  Kalorama: 2.12 percent decline

»  Trinidad: 7.89 percent decline
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March 02 2010
UrbanTurf and PrinceofPetworth are great blogs, as Dina pointed out. You may also look at Frozen Tropics, which covers the up 'n' coming H Street Corridor -- another neighborhood you may want to investigate.

Shaw is getting pretty expensive. If you're a first-time homebuyer, you may not have enough capital to buy in there. H Street has tons of cute stuff, but you may not get the biggest bang for your buck, and the trolley system is probably farther out than the city makes it seem.

In terms of value, I'm a big fan of Petworth. If you can find a place near the Metro station, you're also in walking distance of a brand new Yes market (Whole Foods quality, Trader Joe's prices). The Looking Glass Lounge is the local watering hole in Petworth, owned by the same person who owns The Wonderland Ballroom in Columbia Heights.

A trolley car system is in the works in the Petworth neighborhood as well, though it's farther out than the one on H Street. You've still got the an express Metro bus, and of course, the train.

Don't forget, as you start shopping for a home you'll need to tack on another 3-6 percent onto the purchase price to account for closing costs. When you're ready to start crunching numbers, be sure to grab a quote from a few title companies.

Do yourself a favor and shop title companies in the area. It doesn't take long, and you could seriously wind up spending hundreds more if you don't.
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March 02 2010
Hi JCP1279,
Have you purchased a condo yet?  Have you talked to lenders and received a pre qualification letter? 

I am a real estate agent in Washington DC and would be happy to send you some options around town if you are not already working with a REALTOR.

Best,
Michelle
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February 03 2010
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Shaw, Shaw, Shaw!

Shaw is walking distance to U Street, Logan Circle, Chinatown, and the Convention Center.  There are lots of new restaurants opening up, a metro station right there, a new farmer's market and both attractive new construction and historical town homes. 

It is more convenient and more affordable than Columbia Heights.  Unlike Adams Morgan, Logan, and U Street, there is ample street parking. In Shaw, you are walking distance to a Giant Supermarket, the new Safeway at 5th and K, and the Whole Foods at 14th and P is also very convenient (plus it has a parking garage).

Radio One is relocating their headquarters in Shaw and the Howard Theater will be redeveloped as part of that deal.
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November 24 2009
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I think it would be a mistake to overlook the SW neighborhood.  Between the development around the baseball stadium which is a only short stroll away, the current Waterfront Station project getting set to deliver this Fall, and the roughly $1B Southwest Waterfront project (WaPo article) which is set to kick off next year, there are few other areas in DC that have as much going on or planned to deliver in the next 5-10 years.  The central location (you can walk to the Capitol in less than 20 minutes) is a few blocks off the National Mall, convenient to East Potomac Park, close to 4 different metro lines (Green, Yellow, Orange, Blue), and has quick access to the major roadways in and out of DC (395/295/66) making it easy to hop over to VA or MD when you need to. 

A few links for more info if you're interested:
http://www.waterfrontstation.com/
http://www.swdcwaterfront.com/
http://www.swdc.org/

Happy hunting and good luck!
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August 30 2009
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DC has plans to revitalize SE DC.  You should check with the County offices to see what the 10-20 year plans are.  There was an article regarding the revitalization of SE DC and the renovation mortgages available.  Google search or check with DC planning commission?
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July 09 2009
I recommend you search neighborhood Yahoo groups or blogs. A really good DC real estate blog is Urbanturf.com. Also try Princeofpetworth.com. Prince of Petworth covers more than the Petworth neighborhood. Good information about development and neighborhood demographics can be found in this publication by the Washington DC Economic Partnership (Neighborhood Profiles)
http://www.wdcep.com/aboutus/pubs.php


Good luck with your search!
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July 07 2009
That is a hard question to answer. Its hard to predict a DC Neighborhood that has the best growth potential. But popular DC neighborhoods as usually are places such as Georgetown,Adams Morgan,Columbia Heights,Petworth,Shaw and Capitol Hill just to name a few. 
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July 06 2009
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Well, I'm a girl age 29, and not really interested in the annoying young male interns who are barely out of braces :)

Much of Capital Hill is too expensive for me, I'd need something with strong growth potential so I can get a good ROI for a future 'upgrade' home purchase.  I don't think the main areas of Capital Hill have that, but maybe the outlying areas - e.g. the new Nats stadium, Potomac Ave metro? 

What do people think of the growth potential in Columbia Heights?  Any other recommendations?
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July 01 2009
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Capitol Hill has all the cute interns. I vote for there. You gotta get out of the commute to hold better value too. Look for stuff with trains nearby.
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June 22 2009
 
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