Despite this more empowering scenario for today’s buyers, there are still some areas where price is not negotiable. Take Georgetown. Nearly all realtors agree that Georgetown is the most insulated when it comes real estate in the D.C. area, and there is little chance of receiving a discount on homes in the neighborhood because of its premium location. In other words: it’s best for sellers, worst for buyers.
However, there are some spectacularly exciting projects underway in Georgetown that can not be ignored. Among them is Wormley Row, a group of condos being into a school that was built in 1885.
Bethesda, MD-based Encore Development is constructing the property. Encore is a second generation builder and developer whose clients include the high-end residences at Alban Row in Northwest Washington and the high-rise development the Palisades of Bethesda.
In the late 1800s, Wormley School was named after James Wormley, a Washington entrepreneur who advocated for the education of the city’s Afican American children. The former school building features a stunning historic façade and is being completely rebuilt to house seven condominiums, which are expected to open by May. The project also includes six townhouses scheduled to be constructed on the property by year’s end.
The condos will range in price from around $1.295 million for a one bedroom patio unit to $4.45 million for a duplex on the third floor of the building. The first of the units-a duplex –has already been sold.
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- Last year, Ehrgood, also of Randall Hagner, sold the most expensive home in D.C . history: the 1810 Bowie-Sevier mansion, located in the 3100 block of Q street in Georgetown, which sold for a whopping $25 million.
- Listing prices are pure function. A lot of buyers look at price, but it doesn’t mean a thing. You don’t really know where a seller is willing to go until you acturally make an offer.
- Another beauty- a new constructed, six-bedroom, seven bathroom home at 7730 Lee ave. in Alexzandia,VA. – was originally priced at 2.45 million by Colwell Banker Residential Brokerage. The price has now been dropped to $1.995 million.
- A 20-bedroom, eight-bath brick Colonial at 2900 Rhode Island ave, NE, that once went for nearly $1.5 million is now selling for just slightly above $1 million.
