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

Real Estate Agent with RLAH Real Estate 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:





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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, 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.



Oct 25, 2011 03:14 PM #1
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 03:23 PM #2
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

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 03:35 PM #3
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 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 04:37 PM #4
Patricia Kennedy
RLAH Real Estate - Washington, DC
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 12:47 PM #5
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

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 05:05 AM #6
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Patricia Kennedy

Home in the Capital
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