The Trinidad neighborhood in Washington D.C. is becoming a hot commodity in the real estate market. Home prices in Trinidad are predicted to rise faster than the city as a whole over the next year, with the median home now listed between $440,000-$450,000. While Trinidad once had problems with crime, a violent incident in 2008 drew the neighborhood together and crime rates have since declined. The proximity to nearby areas like H Street and Capitol Hill, along with home prices still below those neighborhoods, make Trinidad and attractive option for home buyers.
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Trinidad neighborhood is hot real estate commodity_Washington Examiner
1. Trinidad neighborhood is
hot real estate commodity
June 13, 2013 | 3:13 pm | Modified: June 13, 2013 at 3:15 pm
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Ben Werner
Special to The Washington Examiner
The Washington Examiner
Five years ago, prospective home buyer Danielle Bays couldn't
resist the tree-lined sidewalks and quiet streets of the District's
Trinidad neighborhood.
Bays, who now chairs the Trinidad Neighborhood Association,
considers Trinidad a calm pocket of homes just on the cusp of
the hustle and bustle of nearby H Street, Capitol Hill and
downtown.
She expected a modest home value appreciation. So Bays was
a bit surprised to learn real estate site Zillow predicts Trinidad
property values will outpace those of Washington as a whole.
"You have a lot of people who have lived in Trinidad a long
time," Bays said. "People who have lived in the neighborhood
and rented now want to buy."
2. Zillow projected Trinidad home values will increase 6.2 percent
next year, beating the 5.2 percent jump predicted for
Washington as a whole.
In terms of prices, Zillow reported its data showed the median
Washington listing price is $435,000. Trinidad currently hosts
several 1,200 square-foot, single-family homes listed between
$440,000 and $450,000. Trinidad even just recorded its first
$926,000 home sale in April.
Barely five years ago the Metropolitan Police Department,
reacting to a few headline-grabbing violent crimes in Trinidad,
set up military-style checkpoints restricting access to Trinidad
to residents. The interesting thing about the summer of 2008,
Bays said, was how the experience drew the neighborhood
together and spurred residents to push for improvements.
By 2011 violent crime in the police district including Trinidad
had decreased to levels near or below those reported in 2007,
according to Metropolitan Police Department statistics,
"I think the summer of 2008 was a notorious one here, but
because it was so out of character," Bays said.
Trinidad was always a tough neighborhood, said Amy Fisher of
Realty Group Inc. and a Capitol Hill-area real estate specialist.
Metro isn't close and until the rebirth of nearby H Street there
3. wasn't much nearby.
"What gets me is there's not really a draw," Fisher said. Still,
she added, it appears the neighborhood is in demand, with
most listing prices at or below $450,000.
"You can't touch Capitol Hill for that price," Fisher said.
So Trinidad's draw is simply being close enough. Trinidad isn't
Capitol Hill, but considering the sprawl of the metro area, Bays
said Trinidad is not far either. Trinidad's corner touches the
end of H Street. Capitol Hill and downtown are short trips
away. Even accessing the Baltimore Washington Parkway is
easy.
Trinidad could just be the latest in a line of Northeast
neighborhoods to become desirable.
"If this is true, and happening in Trinidad, the next
neighborhood to go would be out Benning Road; could be
Deanwood," Fisher said.