Wednesday, May 22, 2013
According to Long and Foster, the market is seeing 'positive trends.'
This past April in suburban Maryland, home sales increased, inventory levels continued to fall and "homes continued to sell at a rapid pace," according to Long & Foster. The real estate company's Market Minute reports show that in April, homes were on the market for an average of less than two months and throughout the area. The number of homes sold also increased compared to this time last year, acocording to the report. And the number of homes for sale dropped significantly throughout the Maryland suburbs. Looking to buy a home in or around Hyattsville? Check out local listings.
Monday, January 28, 2013
How important is a list price, anyway? See which neighborhoods' houses had a hard time making their list price last year with this interactive map.
Last week, we mapped real estate values in Hyattsville. Today we take a second look at those numbers to try and see which neighborhoods might be over and under valued. What you are looking at is a map which colors Hyattsville's neighborhoods by the percent above or below list price at which nearby homes sold last year. Red means homes had a hard time making their list price, yellow means they broke even, and green means they exceeded the list price. Overall, if you sold a home in Hyattsville last year, chances are you sold it for something pretty close to what you were asking for. The average house in Hyattsville last year sold at 1.7 percent below list price. But some surprising neighborhoods, including the Old Hyattsville area, had a …
Thursday, January 24, 2013
See how homes in your neighborhood fared on the open market last year with this interactive map.
A few weeks back, Hyattsville area realtor Ann Barrett distributed a trove of data to local residents on the HOPE Listserv on 2012's home sales in Hyattsville. The data comes from a Metropolitan Region Information System Matrix real estate report, which tracks home sales in the Washington, DC region. Last year, the reports detail 123 home sales in the city. Since then, I've embarked upon a small pet project analyzing the data. Plotting the locations of the home sales on a map, one can see where the hot and cool spots of the city's residential real estate market are. Hovering your mouse over the colored areas of the map reveals the closing sale price value for nearby homes. A quick glance at the map reveals a situation which is probably …
Tuesday, January 22, 2013
Rezoning request could pave way for 870 unit mixed-use development on East-West Highway.
Among the items on the agenda tonight, the Hyattsville City Council will consider supporting a rezoning request which could pave the way for a large new mixed-use, transit oriented development next to the Prince George's Plaza Metro Station. The land in question is the 3.7 acre Kiplinger Property at 3401 East-West Highway in Hyattsville. Currently, the land is zoned for commercial shopping center development. The property owner, Kiplinger Washington Editor's, plans an 870 unit multi-family building with a parking garage and 34,000 square feet of commercial space at the the west corner of the property, according to a memo from Jim Chandler, director of the Hyattsville Community and Economic Development Department. In the memo, Chandler …
Thursday, November 8, 2012
Two hours, $5 million moves 30 Hyattsville condominiums during October real estate auction.
It took less than two hours for Resource Real Estate to auction 30 condominiums at the University Town Center development in Hyattsville last month, according to information released by the company earlier this week. The auction, which took place at the Greenbelt Marriot on Oct. 28, saw buyers spend more than $5 million to snatch up well apportioned condos at One Independence Plaza and Plaza Lofts 22. According to reports in The Washington Post, buyers were able to pick up condos for a bargain, hundreds of thousands of dollars off what they were going for when the buildings were completed in 2007 and 2008, before the economic downturn. "We are pleased with Sunday’s results," Said Stephanie Wilkinson of Impact Real Estate Solutions. "This …
Thursday, November 1, 2012
Bidders get bargain basement prices on Hyattsville condos near mall, metro station
Buried beneath a wave of hurricane coverage this past weekend was a small story about the ongoing, perhaps slow, transformation of the University Town Center neighborhood near the Prince George's Plaza Metro Station. On Saturday Oct. 28, New York-based Resource Real Estate put 33 condominium units at One Independent Plaza and Plaza Lofts 22 up for auction. The auction saw bidders walk away with some choice property at a bargain prices, according to a report in The Washington Post. The condos overlook the expansive, if sometimes deserted, pedestrian square which graces the center of the UTC development. The neighborhood has been beset by both residential and commercial vacancies, as well as a series of massive foreclosures, since it was …
Friday, June 29, 2012
An article in the Washington Post generates discussion among Hyattsville residents about local demographics, development and class.
For a few days now, area residents have been digesting a Washington Post story which speculated that Hyattsville was among some Prince George's locales luring newer, younger and whiter families to the county. According to census data analyzed by the Washington Post, Prince George's County's white population increased 2.4 percent as a result of roughly 3,100 new, white residents over the last 15 months. The data, culled from census estimates, did not specify where those resident were moving to in Prince George's County. That did not stop the Washington Posts' reporters from hypothesizing that Hyattsville is among the areas impacted by this demographic shift. Citing St. Jerome Catholic Church Pastor Rev. James Stack's recollection that he …
Thursday, May 31, 2012
West Hyattsville apartment complex with history of scamming customers is sold to new owners.
A legally troubled apartment complex on Hyattsville's west side has been sold to new owners. The Ager Road Station apartments were sold to Federal Capital Partners for $14.75 million, according to a press release issued yesterday. “Ager Road Station is the type of product that fits perfectly with our investment criteria and is exactly what we will continue to pursue – strong occupancy at 98%, excellent access to Metrorail, Metro bus routes and transportation corridors and an opportunity to create value through capital investment and aggressive management,” said FCP Managing Partner, Alex Marshall in the press release. “The Hyattsville submarket as a whole has excellent demand dynamics, with Delta Associates reporting 97% occupancy in …
Michael Theis
12:39 pm on Monday, January 28, 2013
I've gone in and added a transparency layer to the map, so it should be easier to orient oneself on the map. And this heat mapping program doesn't merely assign a blob of color to a particular point on a map. It averages the values behind the blob with other values nearby to produce the coloration seen on the map. While it is an average–susceptible to outlier skewing–it does a fairly good job of … more ›