Guest contributor Jessica Wilkie is a Hill resident and Realtor with DCRealEstate.com.
In Trinidad, NE, they do.
Trinidad real estate has picked up lately as investors buy run-down properties for cash, fix them up, and turn them over for profit. This year,* average second quarter “sold” prices are already well above 2010 and 2009, when they remained flat at about $175K. Although we’re not quite finished with the quarter, they’re already at $232K for this year — a significant jump.
Trinidad suffered a blow in 2008 when a spate of violent crimes caused MPD to impose a Neighborhood Safety Zone, with police checkpoints stopping cars and checking IDs to make sure people had a reason to be there. Trinidad advocates at the time said that it was a good, close-knit community and did not deserve such treatment. Home sales were extremely low that year — only 17 sales took place in first half of 2008. However the number of sales doubled in ‘09 and increased again in 2010.
As the H Street corridor’s influence grows, it’s no wonder buyers are lured to the Trinidad neighborhood, which is close to all the action but still extremely affordable compared to most DC real estate prices. Where else can you buy a renovated 3-bedroom home with basement in the low 300s, even upper 200s? While H Street and much of Capitol Hill real estate prices have exceeded the comfort level of some entry-level buyers, an area like Trinidad is seen as an alternative.
While a loyal community base maintains the positive aspects of the neighborhood, the comfort level of some may be tested with still-existent crime. But let us hope that an improved real estate market helps the community continue to grow and become even stronger.
Buyers: expect competition — if you’re looking for a fixer-upper or a renovated home, they’ve been going quickly and sometimes for more than asking price.
Next time… what’s happening with the Capitol Hill condo market?
*Figures are from MRIS and deemed reliable but not guaranteed.