Thursday, January 3, 2008

So Just How Many REOs are on the Market Right Now in DC?

The answer might surprise you. According to my research - 112.

With all of the recent talks about a downturn in the market I had to see just how the city faired compared with the rest of the country and I'd like to think that 112 is a rather low number.
The breakdown in DC...
.........................Active Cont Sold (w/i 90 Days)
Northwest..........56.......9.......23 (there is only 1 REO over $1 mil)
Northeast...........45......10......23
Southeast...........10.......3........7
Southwest..........1.........0........1


What does this tell us? With the understanding that many of the properties in Southeast DC fall within the conforming/conventional guidelines of Fannie Mae, I'd like to think that this is one of the most secure areas of the city to purchase.

If we compare this number to the amount of REOs on the market in the local counties...

284 - Montgomery County
324 - Prince Georges County
28 - Arlington County
56 - Alexandria

What are your thoughts on the Local Market?

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