December 26, 2005

Morning Feed

SALES DOWN, PRICES FLAT AS THE MARKET SLOOOWS: Reflecting a correcting DC real estate market, a DC realtors' market assessment shows that Nov. 2005 condo, co-op and single familiy home sales contracts were down 15% from Oct. 2005 in almost every price range. In response to growing concerns about "interest rates and the economy," Nov. 2005 sales were down 18% compared to the same period in 2004.

Not surprisingly, both single family and condos/co-ops experienced double-digit gains in inventory in Nov. 2005 and are 82% higher than this time a year ago. These inventory gains were even greater for homes and units priced over $300,000.

BUT PRICES ARE STABLE: Average sales prices for single family homes and condos/co-ops have increased by less than 1% since the end of the third quarter in Sept. and are 2% ahead of the second quarter in June.

Sales contracts for all single-family homes in Nov. 2005 fell 9% from Oct. 2005 and 18% from Nov. 2004. New contracts on condominiums and cooperatives in Nov. 2005 fell 21% from Sept. 2005 and posted the lowest monthly sales total of the year. The report was prepared for The Condo Connection, a DC real estate firm.

ONE LINERS: Work has begun to restore the Old Naval Hospital at 921 Pennsylvania Ave. Friends of Old Naval say the need more $$$ to finish the job.

The idea of building a light rail line in Anacostia gets a mixed review from the locals.

Someone at the Washington Post finally noticed that Metrobus gets little attention compared with Mertorail.

Proposed hospital in SE still is not a done deal. The fundamental issue when this comes before the DC council is: whether the hospital is for poor people or not.

Colin Powell, who wants a piece of the Nats, tells the DC Council to approve the stadium lease. We have no doubt that approval would be the right move.

Comet Liquor in Adams Morgan on Columbia Road is closing. Goodbye Sid. Hello hair salon. Goodbye Challah. Can you say Bubbles? Maybe.

It's shame. The art-deco sign. The local flavor. All going away. This is what our nation is becoming. We dont like it. You probably dont either. But let's all face it. We are in the minority.


Anonymous said...

they're leaving because the owner died....he was in the majority -- we are all going to die someday.....from what i read, no one said the business wasn't profitable...his heirs just don't want to run the business....they are selling and probably making a pretty penny at less liquor store in washington, dc -- what a pity.....guess they'll have to walk 1/2 block to get that 40 oz...

Anonymous said...

Only an anonymous idiot who's never even been into Comet would think they made their money selling 40s. Nice try, jackass. ~bcc

Allen Place said...

Obviously, Anonymous is one of the unknowing, Neighbor-come-latelies. Comet and its owners were a grounding point and a conscience for the neighborhood. Sidney was more than a merchant. He was a neighbor in the true and old sense of the word. He didn't just occupy a space, count his money and focus on his increasing property value. He CARED about the neighborhood and the people who lived in it.

The loss of Comet will/would be just one more indicator to me of the beauty, charm, soul and sense of community that made A-M a warm and great place to live.

The current development trend of the neigborhood is stripping all of that away. I never thought I would seriously consider leaving the neighborhood I've lived in and loved for 15 years.

Anonymous said...

The link to the Anacostia light rail line is a dupe of the Old Naval hospital, and Goggle news is flooded with articles on the stadium deal. Can anyone elighten?

dcbubble said...

Link for comments on the Anacostia light rail was fixed. Thanks.

real estate listings said...

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