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.