Washington DC Foreclosures For Sale

Washington DC Foreclosures For SaleThe subprime lending crisis led to a wave of foreclosures in the late 2000’s, across the nation and in Washington DC. One difference for the nation’s capitol is that it had already seen tough times. DC’s extended period of urban blight had spurred concerted revitalization efforts well before the economic downturn began. In truth, the foreclosures had been in evidence for a long time and had played a significant role in investors’ efforts and a home buying resurgence. The fact that gentrification had already taken root, helped mitigate a real estate downturn that in fact, was due more to outside factors than what was happening in DC itself. Additionally, the DC foreclosure act passed in 2010, helped push local neighborhoods in the right direction – housing prices were rising in 2011 while other parts of the country were still in a slump. To learn more about Washington DC foreclosures for sale, start browsing the active MLS listings below:

Search Washington DC Foreclosures For Sale Below:

All Listings $200,000 - $300,000 $300,000 - $400,000
$400,000 - $500,000 $800,000 - $900,000
Price, High to Low
8 Properties Found.
Photo of Listing #DCDC450098

1408 Meridian Pl Nw

WASHINGTON, DC
$850,000

MLS#: DCDC450098
3 Bed, 1 Bath
1817 Sqft, 0.03 Acres
Residential

Photo of Listing #DCDC450092

1303 Girard St Ne

WASHINGTON, DC
$499,900

MLS#: DCDC450092
3 Bed, 1 Bath
1361 Sqft, 0.15 Acres
Residential

Photo of Listing #DCDC439058

2300 Irving St Se

WASHINGTON, DC
$405,000

MLS#: DCDC439058
3 Bed, 3 Bath
2320 Sqft, 0.11 Acres
Residential

Photo of Listing #DCDC450792

1107 50th Pl Ne

WASHINGTON, DC
$339,500

MLS#: DCDC450792
5 Bed, 2 Bath
1008 Sqft, 0.1 Acres
Residential

Photo of Listing #DCDC445002

3623 38th St Nw #60

WASHINGTON, DC
$329,990

MLS#: DCDC445002
1 Bed, 1 Bath
763 Sqft, 0.02 Acres
Residential

Photo of Listing #DCDC434904

2208 16th St Se

WASHINGTON, DC
$285,000

MLS#: DCDC434904
2 Bed, 2 Bath
884 Sqft, 0.04 Acres
Residential

Photo of Listing #DCDC450790

4215 Meade St Ne

WASHINGTON, DC
$249,500

MLS#: DCDC450790
3 Bed, 1 Bath
1344 Sqft, 0.13 Acres
Residential

Photo of Listing #DCDC450870

1147 Bellevue St Se

WASHINGTON, DC
$219,500

MLS#: DCDC450870
2 Bed, 1 Bath
1120 Sqft, 0.06 Acres
Residential

 

With much of Washington DC showing a return to real estate stability, there are not as many foreclosure opportunities as in years past. This isn’t to say that they don’t exist however. Zillow’s data system currently shows 162 DC homes in foreclosure although that figure also includes preforeclosure homes, where payments have been missed, but the lender has not claimed the property. While there are certainly a number of foreclosed homes that are in poor condition and/or in depressed areas, it’s only a small part of the picture. The least expensive asking price displayed is $86,000 for a fixer-upper but there are also numerous listings in the mid-to-upper six figure range.

Buyers interested in Washington DC foreclosures are able to take advantage of various lender-offered financing options, such as the Fannie Mae Homepath program. Major banks and lending institutions also have their own in-house foreclosure programs. One of the quickest ways to purchase a foreclosed home is at auction, although a substantial down payment is often due at the time of successful bidding. For those interested in the auction process, it’s wise to have financing already in place or at least, well underway.

During a time when overall sales prices are rising and inventory is tightening, the market for Washington DC foreclosures has also shifted. There are fewer available and the competition between serious foreclosure investors is tougher. Also, many lenders now prefer short sales rather than waiting to go through the foreclosure process. A short sale occurs when a lender accepts less than is owed on the property. Regardless of terminology, buyers who are serious about competing for the shrinking pool of steeply discounted homes for sale are encouraged to get their finances in order, and consult a real estate professional.

 

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than Compass are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2019.

Listing information last updated on December 10th, 2019 at 2:31am EST.