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

 

 

close

This entry hasn't been re-blogged:

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

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,709,916
Margaret Rome, Baltimore Maryland
HomeRome Realty - Baltimore, MD
Sell Your Home With Margaret Rome

You have eplained another good reason to buy right now. It is lot easier than back in 2006 and you are probably going to get a great house! You are the best person to find that special home in the DC area.

Margaret

 

Oct 25, 2011 10:14 PM #1
Rainmaker
690,087
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
RealtorĀ®, Springfield Mo Real Estate

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.

Oct 25, 2011 10:23 PM #2
Ambassador
794,990
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise in NE Philadelphia & Bucks County

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.

Oct 25, 2011 10:35 PM #3
Rainmaker
1,063,193
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

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.   

Oct 25, 2011 11:37 PM #4
Ambassador
2,430,516
Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

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.

 

Oct 26, 2011 07:47 PM #5
Ambassador
1,761,446
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor & Dunedin FL Residential Real Estate

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.

Oct 28, 2011 12:05 PM #6
Anonymous
Post a Comment
Spam prevention
Show All Comments
Ambassador
2,430,516

Patricia Kennedy

For Your Home in the Capital
Ask me a question
*
*
*
Spam prevention

Additional Information