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Re: [columbia_heights] City real estate is hot (but don't get burned): (Wash. Post)

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  • Henock Gebreamlak
    It does not reflect what is really happening. Not totally true. Probably written by an outsider. One thing the writer failed to mentione is that most of
    Message 1 of 2 , Oct 4, 2004
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      It does not reflect what is really happening. Not totally true.
      Probably written by an outsider. One thing the writer failed to mentione
      is that most of those people who are moving in also work in the city, so
      one way or another they are exposed to all of the things that makes a city

      On Sun, 3 Oct 2004, mark mayhew wrote:

      > From Today's Outlook Section:
      > Several blocks behind the Capitol, an old but nice
      > house is for sale: two bedrooms, one bath, an
      > unfinished basement and no back yard. The asking
      > price: close to three-quarters of a million dollars.
      > Houses with similar price tags are common in
      > Washington these days as more people venture back into
      > the city to live. Couples pushing strollers through
      > the parks now often walk back to their homes instead
      > of returning to their SUVs and life in the suburbs.
      > Construction cranes mark the skyline, and
      > entrepreneurs called "flippers" scoop up cheap houses,
      > renovate them, proclaim the neighborhood gentrified
      > and resell quickly at a sizable profit.
      > The problem is that some of the neighborhoods being
      > advertised as gentrified or renewed are not. A house
      > can undergo a facelift within weeks, but changing a
      > community takes time -- much more time. People who
      > paid huge sums for houses in areas such as Capitol
      > Heights, Logan Circle, Eastern Market and U Street
      > soon become familiar with homelessness, beggars,
      > theft, muggings and even killings.
      > Million-dollar colonial houses are not expected to
      > come with these problems, but in parts of the
      > District, they do. And these problems are only the
      > beginning. When the sexiness of living in the city
      > wears off, transplants to the District will find that
      > their public services aren't up to suburban standards
      > -- just turn on the faucet or look at the schools.
      > People in historically poorer sections of the city --
      > in parts of Northeast, for example -- are taking
      > advantage of the higher prices that people are willing
      > to pay for real estate in the city and are putting
      > their homes on the market. Drive along Rhode Island
      > Avenue near North Capitol Street and count the real
      > estate signs.
      > Real estate agents say that a house is worth whatever
      > people are willing to pay for it. Perhaps, although
      > markets fluctuate.
      > Homeowners who find beggars by their front doors when
      > they come home from work certainly paid what they
      > thought their houses were worth, but more and more may
      > be asking themselves if they made the right choice.
      > Meanwhile, the sellers in the District are all smiles.
      > -- Jonathan C. Poling
      > no Columbia Heights on his list?! No PetWorth?!
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