Friday, January 23, 2015

Follow Up on the Industrial Bank Project

We told you about the Industrial Bank project a while back and now the Washington Business Journal has gotten more details.  When first reported, it was unclear if Industrial intended on doing the project themselves or if they would sell to a developer.  As it turns out, they have sold the property at 2002 11th St. NW to the local group Neighborhood Development Co for $2.2 million. 

We also found out that the bank branch at 2000 11th St. NW is definitely not a part of this project and will remain owned by Industrial.

The 3,423 square foot site will be razed and then new construction will start. 

Friday, January 16, 2015

Mortgage Rates Still on the Decline

This week's mortgage rates were released yesterday and they are still inching downward.  A 30  year fixed rate averaged at 3.66% which is down from 3.73% last week.  A 15 year fixed averaged 3.05%. 

"Mortgage rates fell for the third consecutive week as oil prices plummeted and long-term treasury yields continued to drop despite a strong employment report," says Freddie Mac chief economist Frank Nothaft.

Dr. Stephen Fuller, a well-known economist at George Mason University, says that despite this continual drop in rates we should expect to see them start to rise this year.  He forecasts that they will be above 6% by 2017 as shown in the graphic below.


Thursday, January 15, 2015

JUST LISTED! Four-Level Townhouse in the Heart of Chancellor's Row

610 Regent Place NE Washington, DC 20017 

3BR/2.5B/Garage Parking
Open Sunday January 18 1-4PM 

Proudly Offered By: Andrew Turczyn 

Don't miss this like-new LEED-certified townhouse in the heart of the sold-out Chancellor's Row featuring: open concept, 3 bedrooms, 2.5 baths, gourmet kitchen with custom cabinets, granite counters, and top-of-the line stainless steel appliances, open living / dining area, upgraded bathrooms with granite counters, hardwood floors, top-level master suite with walk-in closet, deluxe shower, and spacious deck with Basilica views. Entry level bonus room and garage parking completes the package. 

Charming Chancellor's Row community is short walk from Brookland Metro (Red line) and the new Monroe Street Development including Brookland Pint, Busboys and Poets, and ArtsWalk!

Thursday, January 8, 2015

Mortgage Rates are Down in the New Year

The first mortgage rate report of 2015 showed rates dropping yet again.  The average rate on a 30 year fixed rate mortgage fell to 3.73% in the week ending January 8th, down from 3.87% last week. This is the lowest it's been since May 2013. 

A 15 year fixed fell to 3.05% this week, down from 3.15%.

"Mortgage rates fell to begin the year as 10-year Treasury yields slid beneath 2 percent for the first time in three months," said Freddie Mac chief economist Frank Nothaft. "Meanwhile, the Fed minutes indicated ongoing discussion regarding the timing of the first rate hike."

Will rates start the upward climb next week?

We're Back!

After a nice holiday break, we're back at Slate Properties Now and ready for a great 2015!  Hope everyone had a nice holiday and New Year.

We thought we'd start things off on a fun note and tell you the 10 most anticipated restaurant openings of 2015 according to Zagat.  We're most excited for Mango Tree's arrival but what are you looking forward to?  Let us know in the comments and add any others you think they missed!

The Dabney - 1222 9th St. NW

Momofuku/Milk Bar - CityCenterDC (11th & I St. NW)

Kinship - 1015 7th St. NW

Yona - 4000 Wilson Blvd.

Mango Tree - 929 H St. NW

Beefsteak - GWU campus

Bad Saint - 3226 11th St. NW

Maketto - 1351 H St. NE

Centrolina - 974 Palmer Alley NW

Peter Chang Rockville - Rockville Town Square

Wednesday, January 7, 2015

Featured Rental: Beautifully Renovated 2BR Mount Pleasant Condo

1613 Harvard Street, NW #513 
Washington, DC 20009 

$3100/Month  Available Jan 15

This one-of-a-kind two bedroom / one bath condominium is the perfect combination of original period details and modern amenities. 

Property features: elegant entry foyer, original wood floors and moldings, modern kitchen with stainless steel appliances, living room with private balcony, two over-sized bedrooms with ample closet space, renovated bath. Washer / dryer in unit. 

Private storage locker included!  

The heart of Mount Pleasant is at your door-step with easy access to Adams Morgan, Columbia Heights, U Street, Rock Creek Park, and Downtown DC. 

Contact us today to schedule a tour of this exceptional condominium!