In This Market, Can You Find a Steal of a Deal in Northwest DC?

By
Real Estate Agent with Evers & Company Real Estate, Inc. AB95346

In This Market, Can You Find a Steal of a Deal in Northwest DC?

If you are one of the many people who've called me asking if I can help you find a great deal in a foreclosure or short sale in a house in Georgetown, Kalorama, Cleveland Park, or one of the other popular Upper Northwest neighborhoods, I hope you weren't offended by my reply:  "NO!"

I can find you a great house, and it will be a whole lot easier to buy it than it was in 2006, but it is unlikely to be a short sale, a foreclosure or a steal, at least not in Northwest DC west of 16th Street.

There are some homes that are priced below market that are for sale (regular sales), and these are usually granny houses or estate sales needing a lot of work. 

In some popular neighborhoods, prices have risen steadily, making it seem as though we are immune from what is going on in other parts of the country, and even some parts of the Washington Metro area. 

It's like this.  If you search foreclosures west of 16th Street that are currently for sale, you will come up empty handed.  If you search for short sales, there are only four, and none of them look like particular bargains.

But just because there are few distress sales on the market does not mean there are not opportunities to find attractive, affordable homes in some great neighborhoods.  And when you do find something you love, the chances are that you will be able to purchase it without becoming involved in a nasty bidding war - although we are seeing some multiple contract situations.

 If you are planning a move to or from the Washington, DC area, I can help!  I am licensed in the District of Columbia, Maryland and Virginia.  You may call, email or text me at: 

Housepat@mac.com

202-549-5167

 

 

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Topic:
Real Estate General Information
Location:
District of Columbia District of Columbia County Washington
Groups:
Realtors®
The Recovery Train
Tags:
in this market
can you find a steal of a deal in northwest dc

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Rainmaker
670,747
Kay Van Kampen
Realtor®, Springfield Mo Real Estate
RE/MAX Broker, RE/MAX Solutions

Smart sellers compete with foreclosures and short sales.  Pricing is more important than ever in this market.  'm  sure you are the go to realtor for Washington DC.

October 25, 2011 10:23 PM
Ambassador
741,501
Hannah Williams
Re/Max Eastern inc.

Pat  I love telling people how Real Estate is localized that in some parts of the country such as Washington DC short sales as foreclosures are not as common as other areas.

October 25, 2011 10:35 PM
Rainmaker
886,326
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Pat -- Hannah said it before I could, real estate is truly local even when the differences can be street by street or condo building vs condo building.   Well said.   

October 25, 2011 11:37 PM
Ambassador
2,267,319
Patricia Kennedy
For Your Home in the Capital
Evers & Company Real Estate, Inc.

Margaret, thank you!

Kay, sellers would compete with short sales and foreclosures if there were any out there!

Hannah and Michael,   it's a neighborhood by neighborhood thing.

 

October 26, 2011 07:47 PM
Ambassador
1,652,126
Barbara-Jo Roberts Berberi
Palm Harbor Florida Residential Real Estate
Charles Rutenberg Realty

I would love to find a house just like your graphic to explore.........those were always my favorite type of homes, those old Victorian with all the little nooks and crannies.

October 28, 2011 12:05 PM
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Patricia Kennedy

For Your Home in the Capital
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Additional Information

Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!