D.C. housing recovery in full swing
While the housing recovery is in full swing in Washington D.C., inventory is tight with home sellers receiving multiple offers and buyers competing with investors all-cash offers. In a sense, it is like 2006 all over again, with offers coming in well above the original asking price and no inspection contingencies. Per the Washington Post:
Home values are rising slowly in communities that are farther out, making it more difficult to reduce the higher-than-average share of underwater properties. For instance, last month, 22% of active listings in Prince George’s County and 16.2% in Charles County were potential short sales, according to RealEstate Business Intelligence, a subsidiary of Rockville-based multiple listing service MRIS.