If you're in the market for a house or condo in D.C., you might feel a twinge of despair looking at prices in the city's most popular neighborhoods. Luckily, there are still bargains out there in D.C.'s lesser-known neighborhoods--some of which are poised to make a big splash soon.
We spoke to five residential real estate experts--and one retail expert--to find where you should spend your money.
Arynne Crane, Crane Wakefield at DCRE Residential
"Between the
Minnesota Avenue Metro and the Benning Road station (
Map) is a very small corridor...People haven't driven over to Minnesota Avenue, so they haven't seen the fact that there's been this huge [amount of] construction. Older Safeways, one at a time, get torn down and redone. Well, there's a Safeway at Minnesota Ave. You could possibly think that Safeway could come in, see that there's new construction [and renovate]."
I'm also excited about the potential of
Congress Heights. (
Map) Getting people to cross the Anacostia River is kind of difficult. The way to do it is to promote that there's a farmer's market at the Gateway Pavilion. How many people know you could walk through and have a nice afternoon [there]? I like Congress Heights because of the Giant, the Metro, and the fact that there are a ton of storefronts, close together on Martin Luther King Jr Ave, for three blocks. That doesn't happen a lot east of the river."
Djana Morris, Keller Williams Capitol Properties
"One neighborhood that I think is a great neighborhood, but is going to come up in terms of amenities, is
Riggs Park/Fort Totten. (
Map) That's a great area. It's been a great area for a long time, but it was definitely off the radar, and still is. The price points are pretty reasonable; you can get something that needs some work in the low $300,000s and something completely fixed up for as much as $500,000. It kind of tops out there...It's just as convenient, just as close to downtown as Petworth is, but about half the price....
The style of rowhouse is different than a Petworth [house] because it tends to be smaller square footage. A thousand to 1200 square feet is the norm, with a front porch and a back yard. It's really cute. There's a big Giant on Riggs Road [just across the border into Maryland]..the best crab place in D.C., that everybody in the know knows about is Ruff N Ready which is on Riggs and Eastern [Avenue]. It is just the best. You go there any weekend and there's a line out the door."
Alix Myerson, Alix Myerson at Long & Foster Real Estate
"I think there will be more of a movement over...in
Brightwood. (
Map) I think there will be more of an effort to get into Brightwood as soon as we nail down what is going to happen and when at Walter Reed.
"
East of the river is a huge find, [like] Hillcrest. (
Map) Get on the Metro and start walking around. It has detached houses on decent-size lots from a variety of eras. Some contemporary, some much older, and it's hilly. It's got great views."
Chris Burns, GreenLine Real Estate
"Everyone's talking about
Anacostia (
Map). I'm very bullish on Anacostia. I grew up around here, and Anacostia had such a bad rap, but it's no worse than some of these parts of Petworth or upper Columbia Heights. Within the historic district, you can pick up something for $300,000. Being so close to the Green line, you're...about as far from downtown as Petworth. A lot of my younger buyers who are in that $225,000-$400,000 range and they want to stay in the city, I'm definitely pushing them out there.
"I also really like
Brentwood (
Map). You can get a rowhouse for $400,000, and you're within walking distance of the Rhode Island Ave metro."
Dan Ford, UrbanPace (sales and marketing for new condos)
"
Takoma (
Map) is a...neighborhood we haven't done work in recently, but it's in the District, on Metro, there's a neighborhood there. I think you'll start to see more neighborhoods like that, where you'll see an acceleration of activity....
"A lot of people who live close-in are getting away from saying they need to be on Metro. We see neighborhoods like
Bloomingdale (
Map--but seriously?), have a ton of people moving there--there's a lot of price appreciation...You're close to a lot of neighborhoods, especially with the prevalence of bike commuters and more people taking Metrobus."
Bonus recommendation for entrepreneurs:
Chad Shuskey, Washington DC Economic Partnership
"If I was an entrepreneur or local business, the area I'd be starting to pay attention to is
upper 14th St NW, by the bus barn. (
Map) I think about other corridors in D.C. that have a similar vibe--I think of 11th St in Columbia Heights and I think of Del Ray in Alexandria. Upper 14th St doesn't have the density that Columbia Heights has, but when I walk up and down I kind of get that vibe from it.
"There's an opportunity for local entrepreneurs to make an independent business...it's starting to gain some traction. You have
Ruff N Ready [Furnishings], a pizza place, and
G Fine Art."