Tagged : Foreclosure RSS Feed

Found 14 blog entries tagged as "Foreclosure".

Property Condition

Bank owned properties are sold in “as-is” condition and often times bank owned properties are in disrepair.  If it makes financial sense, some banks will make repairs prior to listing a property. Unlike most regular sales where the seller has intimate knowledge of the property, the bank has never lived in the home and has no past knowledge of major systems such as the roof, foundation, plumbing, wiring etc. Since a bank has obviously not lived in the home and does not have prior knowledge of the property, they are not required to provide buyers with any sort of property condition disclosure statement. Typically when banks sell a property they will not allow the buyer to negotiate on repairs; instead, banks will normally allow a…

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“What is a short sale?” Well, we’re glad you asked. First off, it is NOT a foreclosure. A short sale is different from a foreclosure in that the owner is still controlling the sale, not the bank. The seller is putting their home up for less than they owe on their mortgage. The process can take awhile, but it can be an asset both to buyers and sellers in certain situations. Real bargains can be found in short sales for buyers, and sellers can minimize their losses on a property without foreclosing. We are committed to helping both buyers and sellers with the short sale process. We have experience with short sales, which is extremely important in getting through it all smoothly. We also know and can recommend real estate attorneys and title experts who are…

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A three-bedroom, one-bathroom detached home available in Kensington, Maryland! 4002 Lawrence Avenue is a bank foreclosure and one of the lowest-priced homes in Kensington. While this house is in need of renovations, it has a great deal of potential and is located in one of Montgomery County’s most sought-after suburbs. 4002 Lawrence Avenue features central air conditioning and natural gas heat. It is perfect for someone looking for a bargain and willing to invest the time and money to help this property realize its value. The home is located close to Rock Creek Park, downtown Kensington, and the Westfield Wheaton Mall. The town of Kensington is known for “Antique Row” on Howard Avenue and its weekly Saturday farmers market. The home is minutes away from…
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A Washington Post article about DC’s property tax lien sales sparked outrage this week. According to the investigative report, since 2005, hundreds of DC property owners have lost homes due to the sale of tax liens. One of those delinquent tax bills was only $44.

When a DC homeowner fails to pay property taxes, the DC Office of Tax and Revenue (OTR) imposes a lien on the home.  If the lien goes unpaid for a certain period of time, OTR sells the lien to an investor at an annual auction. The homeowner then owes the delinquent tax bill plus interest to the investor.  If the homeowner is unable to pay within six months, the investor can start foreclose proceedings. In order to avoid foreclosure, the owner must pay back the original tax bill, interest, and…

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DC foreclosures have almost come to a halt due to the Saving DC Homes from Foreclosure provision passed by the DC City Council back in November 2010. The 41-page bill requires lenders to provide a four-month mediation period to homeowners at risk for foreclosure, as well as file copies of notices with the DC Department of Insurance, Securities and Banking. Before this law, some foreclosures happened in as little as 30 days.

Borrowers can elect to participate in the in-person mediation, but lenders are required to do so. The mediation period allows delinquent borrowers to discuss payment options in order to avoid foreclosure. These options could include renegotiation of the loan terms, loan modifications, refinancing, a short sale, deed in lieu of…

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5006 5TH ST NW, WASHINGTON, DC 20011

List Price: $324,900

This is an attached row home in the Petworth neighborhood.  The home is near the corner of Farragut St NW and 5th St NW.  Great price for the square foot.  Parking pad in rear with small yard.  Needs work.  Investors or homeowner looking to renovate would be ideal buyers for this property. 

2115 3RD ST NE, WASHINGTON, DC 20002

List Price: $299,000

This 1,917 square foot home in Eckington is reasonably priced.  The home is occupied by a tenant but listings says tenant is cooperative.  This is an affordable price for DC now.  Buy and hold or by and move in. 

4019 SOUTH DAKOTA AVE NE, WASHINGTON, DC 20018

List Price: $239,900

This is a great price for a foreclosure in Northeast DC. …

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1207 EMERSON ST NW, WASHINGTON, DC 20011

List Price: $499,000

Very large single family detached home in 16th Street Heights.  This home has 3490 square feet on 4 levels.  Fixed up single family homes in 16th Street Heights are selling for $700-800K.  This home needs work. 

1302 FLORAL ST NW, WASHINGTON, DC 20012

List Price: $525,000

This Shepherd Park single family home is just north of the Walter Reed Medical Center.  The Walter Reed Medical Center is in the process of being sold from the federal government to the District of Columbia.  The giant medical campus will be redeveloped with lots of commercial and mixed use. 

2900 RHODE ISLAND AVE NE, WASHINGTON, DC 20018

List Price: $800,000

This is a massive property in the Woodridge area of…

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4920 7TH ST NW, WASHINGTON, DC 20011

List Price: $499,900

Great looking property.  Totally renovated and ready for you to move in.  Very reasonable price for a brand new home.  This is in the Petworth neighborhood and is just north of Sherman Circle. 

507 K ST NE, WASHINGTON, DC 20002

List Price: $325,000

Nice property to renovate in the H St area of Northeast Washington DC.  Renovated properties like this one are selling for over $600K. 

1133 ABBEY PL NE, WASHINGTON, DC 20002

List Price: $475,000

This property is overpriced.  Should be $25-40K lower at least.  No central AC but this is a good home.  Close to H St and Capitol Hill. 

5107 12TH ST NE, WASHINGTON, DC 20011

List Price: $169,900

This is a Fannie Mae Homepath property. …

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4103 3RD ST NW, WASHINGTON, DC 20011

List Price: $239,900

This is a foreclosed property in the Petworth neighborhood. Listed well below the average price of a row house in this area. Good value. This property will most likely receive multiple offers.  8 blocks from the Petworth metro. Short distance to the shops on Upshur St NW. Fixed up homes are now selling in the $600,000’s in Petworth. 

1300 13TH ST NW #102, WASHINGTON, DC 20005

List Price: $479,000

I have posted this property before on this blog. It still has not sold. Very reasonably priced 2 bedroom unit in the Logan Circle area. This property is listed as a short sale.  Short distance to Whole Foods and all the shops and stores on P St/14th St.  This is one of my favorite condo buildings…

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Hot Washington DC Property Post for June 5, 2012

 

905 Emerson St NW, Washington, DC 20011

List Price: $264,900

Petworth is on fire right now.  Buy this and flip it.  Sell for $500-600K.

 

1420 Crittenden St NW, Washington, DC 20011

List Price: $549,990

This is in 16th Street Heights.  The price is way too high.  I think I have posted this on the blog 3 or 4 times now.  This seller needs a reality check.  A cash offer with quick close in the low $400's is what it will probably take to get this one.  Renovated it would sell in mid $600's.

 

3314 New Hampshire Ave NW, Washington, DC 20010

List Price: $345,000

Wells Fargo really underpriced this property.  It is available for owner occupants only.  It will get multiple offers.  This…

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