DC Condo Boutique http://www.dccondoboutique.com/blog/tags/dc-foreclosures/ Urban Washington, DC condos and lifestyles including information about popular District neighborhoods including Adams Morgan, Capitol Hill, Columbia Heights, Dupont Circle, Foggy Bottom, Georgetown, Kalorama, Logan Circle, Mount Vernon Triangle, Penn http://www.dccondoboutique.com/blog/dc-condo-foreclosure-roundup.html http://www.dccondoboutique.com/blog/dc-condo-foreclosure-roundup.html mark@dccondoboutique.com (Mark Washburn) DC Condo Foreclosure Roundup

Alta at Thomas Circle - 1133 14th St NW #403.  1 BR/ 1BA.  Asking price of $245,000 / $432 SF.  This asking price of  $432 SF does represent an 18.7%  discount off an Alta foreclosure unit that sold on 01/22/10 for $532 SF.  This asking price is a slight premium over a short sale listing that is now under agreement with an asking price of $422 SF.
 
Lofts 11 - 1125 11th St NW #101 in  Logan Circle. 2BR / 2BA.  Asking price of $639,900 / $449 SF.  This asking price represents a 10.7% discount off the other units for sale with an average asking price of $504 SF
 
Rhapsody - 2120 Vermont Ave NW #22 in the U Street Corridor.  1 BR / 1 BA.  Asking price of $259,900 / $423 SF.  This asking price represents a 12.6% discount off the average asking price of $484 SF for the two non-foreclosure listings currently for sale at the Rhapsody.
 
Our DC condo foreclosures  page is updated daily with the latest units to come on the market.  Please inquire if anything catches your eye.
]]> Fri, 12 Feb 2010 19:22:42 -0500 http://www.dccondoboutique.com/blog/dc-condo-foreclosure-round-up.html http://www.dccondoboutique.com/blog/dc-condo-foreclosure-round-up.html mark@dccondoboutique.com (Mark Washburn) DC Condo Foreclosure Round-up foreclosure_street_sign_250Foreclosures are bank-owned properties, which are often (but not always) priced at a discount to competing listings and can offer significant savings to a savvy buyer.  Banks are not in business to own homes and condos and are generally very motivated to sell their foreclosed assets.

Foreclosures have not impacted the DC Condo market like they have in other markets like Las Vegas, Miami and Phoenix.  In the District, our developers are primarily building on infill parcels with both and infrastructure like the Metro are already in place.  This is in contrast to markets like Las Vegas and Phoenix where developers are pushing outward to create new neighborhoods where land is cheap but little infrastructure is already in-place.  The steady and diversified economy here in DC has also helped to limit the numbers of foreclosures impacting our market.

In terms of what DC condo foreclosures are currently available for sale, at the upper end of the market there is a penthouse loft foreclosure available for $899.9K at Murano - A Robertson Development project in the U Street Corridor.  In Logan Circle, a Lofts 11 2BR / 2BA unit is available for $639.9K.  At the lower-end of the market in Cleveland Park, a 1BR / 1BA foerclosure at Wilshire Park is listed at $250K.

Here is a resource to view active DC condo foreclosures.  This resource is updated daily and includes property tax and condo fee information as well.

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