As prime real estate season gets into gear, we thought we’d bring you a few tips when it comes to looking for real estate for sale in the Penn Quarter (PQ). Like the label Georgetown, PQ now has some cachet (or brand equity as they say).
Tip 1: The PQ lies in two zip codes only: 20001 and 20004. Not 20005. Anyone claiming otherwise is trying to fool you. Some (not all) realtors like to stretch the truth by fabricating neighborhoods. Who ever heard of Logan East? It’s Shaw. The diamond formed by Mass Ave, New York Ave, Penn Ave, 3rd Street and 10th Street is the broadest definition of the Penn Quarter. Wikipedia stretches it out to 15th Street but we think that includes Downtown.
Tip 2: The market has come into a better balance between buyers and sellers; the sellers market heyday from 2003 to 2005 is in the rearview mirror. The 1990s brought DC a diverse and healthy economy so it will always have a lively real estate market. That said, you do have more time to look, choose and bargain.
Tip 3: Make sure you think about your surroundings and what they will be like during the day and the night when you pick and purchase. Like the sun? Then, face south and shoot for a high floor. Want a pool? Then, check if it is a lap pool or something larger. (Note: All the rooftop pools are approximately 4 feet deep. Don’t expect an Olympic training pool). Want low fees? Then, look for a building with lots of units and few amenities. Don’t want noise? Don’t buy a unit across the street from a dance club.
A number of realtors say they specialize in the Penn Quarter. As always, you can check our PQ building map as a starting point for looking in this fun, urban neighborhood.