Southwest DC Waterfront is a wonderful example of mid-century American architecture, much of Southwest was redeveloped in the 1950-1960s. The neighborhood offers everything from small studio apartments to large townhouses and palatial apartments with water views.
The residential area of Southwest DC is bounded by South Capitol Street to the east, 14th Street to the west, the Southeast-Southwest Freeway to the north, and Washington Channel to the south.
Here are the figures:
Currently For Sale: 61 homes (current asking price)
Low: $117,000
High: $899,900
Average: $$308,962
Under Contract: 13 homes (asking price at contract)
Low: $120,000
High: $865,000
Average: $382,438
Average Number of Days on Market Until Contract: 20
Sold since 1/1/2009 96 homes sold (final sales price)
Low: $90,000
High: $783,000
Average: $286,337
Average asking price for sold properties: $299,395 Average Number of Days on Market Until Contract: 111
9 Ways to Avoid Foreclosure:
The Federal Government has a hotline. Homeowner's HOPE Hotline: 888-995-HOPE
Have you suffered any of these hardships?
(Washington, DC - July 2009) – Steve Dean & Eddie Rangel with RE/MAX Allegiance, ranked 7th overall in the Washington, DC for awardable commissions in the first six months of 2009.
"The DC real estate market this year has more distressed property and problematic transactions than in past years," said Steve Dean. "We're happy that we've been able to use our experience to successfully close client's transactions despite the difficult times."
“Without a doubt, your contribution to RE/MAX International’s record-breaking success is recognized and admired throughout the Region,” said Kerron Stokes, Regional Vice President of RE/MAX Central Atlantic Region, upon issuing the award. “Your outstanding achievement serves as a powerful model of professionalism for each and every Sales Associate on the RE/MAX team.”
Both Steve Dean and Eddie Rangel are Certified Distressed Property Experts with extensive training in foreclosure avoidance and short sales. Steve & Eddie are well versed professionals with extensive experience in co-operative and condominium sales. To learn more about Steve & Eddie visit their website: www.myDCagent.com
RE/MAX has over 110,000 agents worldwide and continues to lead the industry in top markets with cutting-edge technologies like the comprehensive property search engine on www.remax.com and the RE/MAX Satellite Network (RSN), that provides Associates with award-winning programming, coaching and training in the convenience of their offices or homes.
# # #
About RE/MAX
RE/MAX was founded in 1973 in Denver, Colorado by Dave and Gail Liniger. It has grown to a global network of over 110,000 Sales Associates in more than 65 countries. No one sells more real estate than RE/MAX. Nearly all home listings can be found at www.remax.com.
RE/MAX is proud to help raise millions of dollars and support charitable organizations like, Susan G. Komen Breast Cancer Survivor Recognition Program, Children’s Miracle Network and The Sentinels of Freedom Foundation.
1) Sign a Buyers Brokerage Agreement: Without a signed agreement, real estate agents in DC work for the Seller. Sign a Buyer Broker Agreement with a short time period to ensure that your working style and your agent's style are compatible. You can always extend it.
2) Obtain Lender Letter: You don't have to use the lender that provides the letter. Shop and compare rates, products, and services before getting under contract.
3) Define search criteria and choose homes to view: Make a list of what you have presently in your home and what you'd like to have in your new home. Then mark the items that you MUST have. If a couple is buying a home, do this independently and then compare. If you're considering purchasing a "Short Sale" be sure to talk to a Certified Distressed Property Expert to learn the additional steps necessary in your purchase.
4) Write offer with earnest deposit check: Your earnest deposit is applied to your down payment and closing costs at settlement. If you don't honor the contract, the Seller may keep this as damages. This check must be deposited within one week of contract ratification.
5) Offer accepted!!! Once your contract is ratified, your agent will work with you to schedule settlement and any inspections and provide access to the property.
6) Complete loan application: In DC you have seven days from the date you get under contract to complete a final loan application.
7) Appraisal ordered: The lender will send an appraiser to determine the "appraised" value of the property. Your agent will coordinate access for the appraiser. Purchasers receive a copy of the appraisal report at least three days before settlement; be sure you follow-up with your loan officer to ensure you receive it.
8) Conduct inspections and negotiate as needed: Bring a camera and/or tape measure when you inspect if you want to plan your move. You may not get into the home again until final walk-through. Every inspection will find something. Talk to your agent to discuss the findings.
9) Your loan moves into closing once the appraisal is in and title work is in; time to lock your rate: The rate on your mortgage will fluctuate with the market until you "lock" the rate with the lender. Talk to your lender at least two weeks before settlement to avoid closing delays. If there are appraisal or title concerns, talk to your agent to navigate the settlement process. The settlement attorney can also provide advice.
10) Bring photo ID and certified funds to settlement and conduct final walk-through prior to settlement: At settlement you’ll sign paperwork both for transfer of the property and for your mortgage. If you’ll want to read all of the documents before you sign, let your agent know so a time can be arranged for you to read them before everyone meets at the settlement table.
Southwest DC Waterfront is a wonderful example of mid-century American architecture, much of Southwest was redeveloped in the 1950-1960s. The neighborhood offers everything from small studio apartments to large townhouses and palatial apartments with water views.
The residential area of Southwest DC is bounded by South Capitol Street to the east, 14th Street to the west, the Southeast-Southwest Freeway to the north, and Washington Channel to the south.
Here are the figures:
Currently For Sale: 55 homes (current asking price)
Low: $115,000
High: $899,900
Average: $322,416
Under Contract: 26 homes (asking price at contract)
Low: $109,900
High: $539,900
Average: $313,387
Sold since 1/1/2009 43 homes sold (final sales price)
Low: $90,000
High: $750,000
Average: $267,470
Average asking price for sold properties: $282,137
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved