Old Rental to Condo to Rental Trick

Two years ago when part of McClean Gardens was being converted into a condo called Vaughan Place there was a brouhaha over how the conversion was done. Well nevermind. The unsold units are reverting to rentals, according to DCMud. Less than half of the units were reported sold as condos.

One reason DC is missing the worst of the exploding real estate bubble is that strong rental market that exists here. Can't sell you condo; rent it.

The long lines one used to see for sales open houses now are for rental open houses. In fact, the owner of the Vaughan have the rental portion of the building on the market too, says WashBiz.