What Does Gentrification in Congress Heights Look Like?
About two years ago a small group of mostly white young professionals moved into a house at the bottom of the hill in our neighborhood. They were an eclectic group – looked like investors who had gotten together to buy the house. It was a beautiful home. They dealt with the usual – stolen mail, boosted garbage cans – nothing out of the ordinary for our neighborhood, or any neighborhood really. Then, within 18 months, we see a Sotheby’s “For Sale” sign go up. They bought it from the previous owners, who were under water having purchased it for $400K, for $263K. They sold it this December for $375K. Probably not what they were expecting to get for a house within walking distance of the metro, and all these new amenities, that looks like this http://tour.homevisit.com/tour/information/quick-preview.asp?id=83418, in DC, but still a nice sum depending on how many ways it had to be split. I haven’t seen the new owners yet.