Here are some of the interesting real estate stories making headlines this week:
- Tomorrow the homebuyer tax credit expires — for real, this time — and we’re hearing stories from local agents working with a few panicked buyers furiously trying to get in under the wire.
In the months ahead, the real estate industry, economists, and politicians will all be watching for what effect the expiration of the credit has, if any. Will it undermine the housing market’s tentative recovery, or is there now enough momentum to keep the progress moving?
- 14th and U, one of the city’s premier destinations for nightlife and restaurants and the only intersection we know of that has a blog named after it, may be getting a very large residential project in the coming years. DC Mud reports that it is increasingly likely that a large mixed-use development — 220 apartments plus 20,000 square feet of ground-floor retail — will be constructed on the west side of 14th Street just south of the McDonald’s. It would be the largest residential project on U Street since The Ellington delivered in 2005. (That project, by comparison, has 186 units with 15,000 square feet of retail.)
- The spectacular home pictured above was recently put on the market by former Treasury Secretary Henry Paulson, according to a report by The Washington Post. Paulson, who became a household name in the months following the economic crash of late 2008, is moving back to Chicago and asking $4.6 million for this three-bedroom, four-bathroom home near the National Cathedral. To drool over more photos, see the full listing.
- Speaking of luxury real estate, the biggest residential real estate sale of the year was just reported by Developments. It is a 35,000-acre ranch in Colorado, bought by a Texas energy executive for $46.5 million (chump change, right?). Check out the slideshow here.
Finally, here are UrbanTurf’s three most popular posts of the last week in case you missed them:
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