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DC Condo Foreclosure Round-up
Tuesday, December 8th, 2009 at 1:38pm. 1538 Views, 1 Comments.
Foreclosures 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…
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