Posted by Jonathan J. Miller -Thursday, June 9, 2011, 7:44 PM
It’s time to share my Three Cents Worth on Curbed DC, at the intersection of neighborhood and real estate in our Nation’s capitol.
…There has been a lot of “double dip” talk of late, far removed from the “double flip” conversations prevalent during mid-decade. I wanted peel back the distressed layer of the DMV onion and take a look. I define “distressed sales” as short sales and REO properties (foreclosures). Nationally, distressed sales are the key to understanding the US housing market and the headlines we read every month – DC Metro is no exception. When all sale types are lumped into one big pile (of onions), it can be hard (or impossible) to decipher the housing market without some serious bad breath…
Three Cents Worth: Discussing DMV’s Distressed Sales Requires A Few Breath Mints