Home Selling in 20003>Question Details

Vay, Both Buyer and Seller in 20003

I have a studio on Capitol Hill. I would like to sell. It is in a great location and newly renovated.

Asked by Vay, 20003 Fri Feb 20, 2009

Is now a good time to sell or should I rent?

Help the community by answering this question:


There are a number of factors that you should consider. Can you get enough for the rent that you will cover mortgage and expenses? Is this an investment property or your principle residence? If you sell, what is your competition in the area?

If you'll email me with your address and some more information, I can look into it for you and help you with your decision. My email is Tiny@TinyVarner.com.

Web Reference: http://www.TinyVarner.com
1 vote Thank Flag Link Fri Feb 20, 2009
I'm looking to sell my property but had the same question. My local adviser told me to rent. Not sure if that's what I really want to do though.

Will Jenkins | http://www.theprintshop.tv/servicecenter/products_services.html
Flag Tue Jun 3, 2014
It really depends on what your goals are. Do you want to be a landlord or would you like to use the proceeds to purchase something larger? Capitol Hill is one of the best markets in the city so you usually have a good option to sell. Give me a ring I can help talk you through it 202-641-0299.
0 votes Thank Flag Link Wed May 7, 2014
Depends on your particular situation, how much you owe per month, when you bought it etc. Feel free to call my Cell at 202-352-5892 or e-mail me the address and I would be happy to give your more information. Hope to hear from you soon.
0 votes Thank Flag Link Thu Mar 27, 2014
Vay Check out these Market Reports stats for Capitol Hill and South Capitol Hill. I hope you find them helpful in making your decision Good luck to you.

Capitol Hill North http://www.rbintel.com/statistics/zip-code-report?zip=20002
Capitol Hill South http://www.rbintel.com/statistics/zip-code-report?zip=20003

And go to my Seller landing page for a market analysis for your Capitol Hill DC house at http://www.DChomevaluesnow.com. Or you can meet and talk at my Capitol Hill Office at 801 D St NE Washington DC 20002

0 votes Thank Flag Link Thu Mar 27, 2014
The answer today might be different than it was in 2009. Interested in what you finally did.
0 votes Thank Flag Link Tue Mar 18, 2014
It all depends on the financial equation. If you can take a gain from the appreciation and it is substantial, then I would suggest meeting with me in order to sell it for you. It could take many years/decades to make a $100,000 gain, for example, renting out a studio. If your property has not appreciated at all, then we rent it out for you. There are always the tax implications depending on how long you have owned the property, how long it has been in service as a rental, etc. I am very experienced in these types of transactions and can help either way.
0 votes Thank Flag Link Fri Jun 21, 2013
I think we finally reached the bottom of the market and sales will start picking up. If you don't loose too much money every month by keeping it as a rental, I would suggest that option. We manage over 100 properties (including a few on Capitol Hill) and would love to meet with you to discuss which option would be best for you (no obligation, if course!) Hope to hear from you. My personal e-mail address is Evonbronk@aol.com or you can call my Mobile at 202-352-5892 anytime (I am leaving the office at 1am)
0 votes Thank Flag Link Tue Mar 30, 2010
I recomend you mozy on down to Eastern Market over to the Prudential office and talk to Karen Pruitt, she actually lives and owns a rental home here on the Hill and would be more than happy to help you make the right decision. Also she uses a great tool to help sell homes quickly. Check it out. http://sellersunfairadvantage.com

0 votes Thank Flag Link Tue Mar 30, 2010

Congratulations on the inquiry. I am also a licensed Buyer's Agent. I would be happy to assist you with selling or buying or both. Let me know if and how I can help!

Tammy Britt
(202) 841-1869
Web Reference: http://www.TRS-Realty.com
0 votes Thank Flag Link Wed Feb 25, 2009
I am interested in this property. Can you send me pictures and general information such as condition, attributes,and price to my email address? I do not have a realtor yet.
0 votes Thank Flag Link Wed Feb 25, 2009
Hi Vay,

Capitol Hill has always been a great rental area. However, DC has not seen as much of a slow down as other areas. As Jonathan mentioned, DC is doing well! We have seen a definite rush in the market in the last month or so. One of my business partners and I have been involved in four multiple contract situations in the last ten days! I currently have two first time homebuyers looking in Capitol Hill.

Feel free to contact me if I can answer any other questions for you.
Tammy Britt

There are a couple of great articles for the DC market:
0 votes Thank Flag Link Sat Feb 21, 2009
Hello Vay,

Capitol Hill is a great rental area and well priced homes do sell relatively quickly. With regards to whether or not it's a good time to sell, it depends on what you believe. I believe that it completely depends on your situation and what your motivation is. There are always buyers out there. People say that the spring brings more buyers but you will also have more competition.

I see a significant up tick in buyer activity when a new program is introduced, or rates drop substantially, or in this case a new stimulus becomes available as in the new $8,000 tax credit. Your studio is likely to attract a first time buyer. The tax credit is aimed directly at first time buyers. The up tick usually lasts about a month then things settle back down a bit.

Strike while the iron is hot. And it's hot right now.

Feel free to get in touch to discuss what's happening on the Hill. I look forward to seeing your new listing should you decide to put in on the market.

Good luck.

Andy Peers
(301) 370-4499 mobile

Web Reference: http://www.peersrealty.com
0 votes Thank Flag Link Fri Feb 20, 2009

First off the market in DC and specifically Capitol Hill is doing quite well. There have been several properties that have gone under contract in the past few weeks as well as an increase in potential Purchasers at open house. Of course this is predicated upon the look of the property, location and price. Well priced properties have been moving despite the news reported about a bad economy. In addition Forbes Magazine just named Washington, D.C. the number one best buy local housing market.

Your ability to sell as I mentioned will greatly depend on price. This will weigh heavily on what other comparable properties around yours have sold for. In addition, without knowing the specifics of address, exact size, features of the unit and the building I cannot give you an idea of price. I would be happy to do a Comparative Market Analysis and Marketability Report to help determine an appropriate listing price and any adjustments that may be needed to ensure the property shows in the best possible light. Feel free to contact me anytime as it would be my pleasure to work with you.
Web Reference: http://www.wdcLiving.com
0 votes Thank Flag Link Fri Feb 20, 2009
Hi Vay.

In a nutshell, it's a very good time to sell. There are many buyers out there who are now getting ready to by because of the low interest rates and the new Federal first-time buyer credit. Here is a an article in BusinessWeek that just came out -- http://news.yahoo.com/s/bw/20090220/bs_bw/feb2009db20090219655989.

When you're ready, interview Realtors who can help you sell your condo. A good Realtor will be able to give you a competitive market analysis in addition to a marketing plan.

If you'd like to discuss the selling process further, please give me a call at 301-320-8349 or send an email to robyn@robynporter.com. You can also visit my website at http://www.robynporter.com.
0 votes Thank Flag Link Fri Feb 20, 2009
Your decision will depend on a number of factors. Why do you want to sell? How much equity do you have in the property? What's the rental market like right now in that area? If you sell, where will you go? You can choose from the many qualified realtors who answer questions right here on Trulia to help you with your decision. Most will provide you with a market analysis with no obligation, and when you're comfortable with your decision, and have found a realtor you're comfortable with, you'll be ready to move forward - - or stay put.
0 votes Thank Flag Link Fri Feb 20, 2009
Greetings Vay,

While some might debate whether it is a good time to sell, most would agree it is a great time to buy! In my experience, selling and buying often has more to do with personal circumstances than market conditions. I am happy to discuss this further with you.

Please check me out at http://www.DCchris.com and http://www.DCchrisBlog.com. If you feel we might be a good fit, contact me at your convenience.

Have a great weekend and good luck.

All the best,

Christopher Beaumont
Web Reference: http://www.DCchris.com
0 votes Thank Flag Link Fri Feb 20, 2009
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