Washington DC Foreclosures For Sale

The 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:

ForclosedPending

727 Emerson St Nw

WASHINGTON, DC
$549,990

MLS#: DCDC435224
4 Bed, 2½ Bath
1707 Sqft, 0.03 Acres
Residential

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ForclosedPending

912 F St Nw #301

WASHINGTON, DC
$539,000

MLS#: DCDC435796
1 Bed, 1½ Bath
917 Sqft
Residential

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ForclosedPending

5001 South Dakota Ave Ne

WASHINGTON, DC
$499,000

MLS#: DCDC432762
3 Bed, 1½ Bath
1360 Sqft, 0.07 Acres
Residential

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REDUCEDForclosed

400 Oklahoma Ave Ne

WASHINGTON, DC
$410,000

MLS#: 1002100200
4 Bed, 2 Bath
1 Sqft, 0.06 Acres
Residential

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Forclosed

2208 16th St Se

WASHINGTON, DC
$285,000

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

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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.