Home Buying in Washington>Question Details

Pmaul21, Home Buyer in Washington, DC

Interested buying a studio in Southwest. Thinking about reselling in five years. Price is around 170. Difficult to resell a studio? Good price?

Asked by Pmaul21, Washington, DC Wed Feb 8, 2012

The property is about 478 sq. ft. It's located on the 7th floor of the building. How hard is it to resell a studio? Is this a good price for the area, and size of the condo? Thank you.

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It may not be a bad investment. Make sure you don't overpay, but I think the Southwest waterfront area has a lot of potential to really boom. The whole SE/SW waterfront area looked like it was about to really take off once National's park was opened, but development has been slow.

Still, it is moving forward and as the Nationals improve, attendance and businesses should start growing. If things around the ballpark pick up, I am sure it will translate into growth in the SW waterfront area and if you are looking at a 5 year horizon, you may do ok.
0 votes Thank Flag Link Fri Feb 24, 2012
Studios are typically harder to sell than 1BR, which are harder to sell than 2BR ...
more space/amenities help increase resale value. The particular building that the property is in can make a difference as well. There are stats to be had that can provide insight into what is going on in the building, and surrounding buildings as well. The number of investment properties in a building can also have an adverse impact on sales. Lenders are reluctant to lend money in buildings where a significant number of the units are not owner occupied.

There are a lot of factors that can influence the resale value of your property, some of which you will not be able to control. Best bet is to find yourself a good agent who can help you navigate the purchase, and eventual sale.

Rene Cooper
Phase II Realty
301 980 9249
0 votes Thank Flag Link Wed Feb 22, 2012
And if you want to see studios and condos that have sold the past six months,please let me know. I would be more than happy to send you a list of DC studios sales the past six months.
0 votes Thank Flag Link Wed Feb 8, 2012
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