Priced out of DC? Perhaps it is time to think out of the box.

Yes, I know that the District of Columbia is "way cool" these days and considered to be one of the best place for young buyers looking for an urban lifestyle to own a home. Over the last decade the District has re-discovered it's vibrancy and offers many fine neighborhoods that have so much appeal for young homeowners.  However, the problem is that for so many young purchasers the values of DC properties has gone up so much in the past three years that it is no longer feasible to buy a home there. Many are stuck in a cycle of renting as they chase a dwindling supply of affordable living space.  As we get into the New Year there are two important factors to consider if you hope to find a home in DC. One, is that prices don't look like they are going to stop going up. Perhaps the high rate of appreciation will slow a bit but for the near future I can only see high demand working with low inventory to keep DC prices very high. The second thing to consider is that interest rates are bound to go up. We have been living in a rare period of ultra low interest rates for some time now. However rates must go up as the economy continues to improve. So if you have been looking without success for a home in the District, I don't think it is going to get any easier. Perhaps it is time to consider other options. Over the next few days I plan on exploring alternative communities that offer the same type of appeal and amenities that you might find in the District but at much lower prices. Of course, there will have to be trade offs-usually some sort of commute but if you can no longer buy in the District then a trade off is probably the best course for you.

Today I want to start with Old Hyattsville in Prince Georges County- "A World Within Walking Distance." Prince Georges County gets a lot of bad press these days but there are some very fine communities located

there that I have come to appreciate in my three decades of selling homes. The historic district of Hyattsville is one of my favorites. While Hyattsville itself is a large mixed community and covers a large area, it is the  historic section of town along with the surrounding neighborhoods that I am referring to. There are about 600 homes in the historic district dating from the 1880s to the 1940s. There are many styles but I think it is one of the best places in the Metro area to find a arts and crafts bungalow style home. Many of these homes but not all are Sears Roebuck catalog homes. (J.C. Penny and Montgomery Wards also offered catalog homes during this period). The historic district of Hyattsville is located along U.S. Route One where there is a core of small businesses and places to dine within easy walking or biking distance. In addition the University of Maryland is only a few miles away and there always something going on there. There has been some redevelopment in the area of late so there are some newer town homes and condos to be fond in the center of Hyattsville as well.

If you work in the District, Hyattsville is located inside the beltway so commuting distances are short. There are two nearby metro stations if you don't want to drive.

Now for the best part. For about the cost of a one bedroom condo in the hottest portions of DC, you can buy a nice single family home in the historic portion of Hyattsville. Take a look in my own search engine to see what is currently on the market in Hyattsville.