Wednesday, August 29, 2012

Morning Real Estate Review

Bethesda's air rights center on the block for $257m (Gazette)  One of the largest office complexes in Bethesda, owned by TIAA-CREF, holds over 700,000 s.f. of office space, and sold for $140m in 2002.

U.S. home prices post first year over year gain since 2010... (Associated Press) June prices were up, according to S&P/Case Shiller index, the first year over year increase in 2 years.  While far from a trend, policy makers are reaching for any sign of a bright spot in the housing market.

...but the U.S. housing market may be due for a stumble (Forbes)  The market may (or may not) have hit bottom, but the real question is how long it will stay there.  Some evidence indicates that the positive forces halting declines may be unsustainable.

Housing recover moves to the suburbs (Washington Post) Unlike the rest of the country, home prices in DC have been up 29 of the last 33 months, but prices rises have been much more common in the core areas, though suburbs are now showing some resilience as well.

Office of Planning rejects Adams Morgan hotel (Washington Business Journal)  For the second time, the District's Office of Planning says no to the sole hotel in AdMo, despite a strong endorsement from the ANC.  The Zoning Commission now has final say.



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