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A Columbia Heights property auction will take place next week on Wednesday, February 27 at 1 PM. That’s just one hour after the auction in the Trinidad neighborhood. So if you don’t win the first one, you can head to the next one!

The Columbia Heights property auction is for a three-level 1,116-square-foot townhouse at 758 Fairmont Street, NW between Sherman and Georgia Avenues.  You may recall that that the Sherman Avenue Streetscape project recently upgraded the neighborhood -- adding a median with trees, sidewalks, and more.  The location is also walking distance to the Metro and Howard University.  In addition, the property is just blocks from the shops and restaurants on 11th Street, which the New York Times calls the new “hip strip” in…

A real estate auction in Trinidad will take place next week on Wednesday, February 27 at noon. If you’ve been priced out of the market, want to design your own new home, or are a real estate investor, this might be the opportunity for you.

The real estate auction in Trinidad is for an end unit townhouse, so you’ll have three sides with windows, instead of just two.  The property is located at 1408 Morse Street NE and bids start at $250,000.

The majority of the home is brick with siding on the back third.  It is a three level colonial townhouse built in 1924 with a covered porch in the front and an attached garage with private driveway in the back.  The property is being sold “as-is,” which is a state of disrepair at the moment with missing windows, a…

A Petworth home was auctioned off today for $461,000.  If you add in the 6% charged by the auction company the grand total becomes $488,650.  The home at 514 Quincy St NW has 4 bedroom and 2.5 baths.  The total square feet on this Petworth home is 2,562 including the basement square footage.  The property is 2 blocks from the Petworth metro station on the green line.  An agent in our office that attended the auction estimated that over 200 buyers viewed the home on this rainy and dark Wednesday afternoon.  The home needs a full renovation and the sales price would only make sense for an end user. Considering the cost of renovations, the sales price was well beyond what would make sense for a flip.  The auction left many real estate investors who were…

A lot of investors and homebuyers ask me about buying a Washington DC foreclosure.  In this blog I will talk about the process a bank must go through to foreclose and where to search for them. 

First, you must understand that in Washington DC there are very few foreclosures on the market currently.  It has been over a year since banks have foreclosed on a property in Washington DC.  This is due to the robo signing issue(which was just resolved last week) and the mediation law that the DC council put in place in December 2011.  The mediation law forces banks to meet face to face with the borrower to prevent a Washington DC foreclosure.  In the second half of 2011 only 25 notices of default were issued by banks compared with over 1000 issued in 2010.  A…