D.C. ranks as one of the worst places to buy a foreclosure… and that’s good

According to a RealtyTrac report, Washington, D.C., is the 22nd worst place to buy a foreclosure — that’s 22 out of hundreds of areas, so it’s a pretty solid ranking.

What does that mean, “worst place to buy a foreclosure”? It’s actually a good thing for the market overall. It means (among other things) that there are fewer homes in foreclosure in the area, that foreclosures make up a relatively small percentage of overall sales, and that foreclosures aren’t priced at as much of a discount as they are in other areas.

Bottom line: Being bad for foreclosure sales means D.C. is better for traditional sales.

Click here for the Washington Post story.

And click here for the RealtyTrac report.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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