Headlines: DC's first-time and boomerang homebuyers

Headlines: DC's first-time and boomerang homebuyers
The latest statistics show the gross profit for flipping houses in DC proper averages around $222,106.
Here's a look at what's happening in real estate around the District of Columbia.

After losing their homes in the foreclosure crisis, boomerang buyers are back

Boomerang buyers who lost a home to a foreclosure or short sale between 2007 and 2013 are projected to make about 10 percent of all U.S. home purchases in 2014. — Washington Post

Average profit for a DC Metro house flipper is $136,135

Flips made up 10.2 percent of all sales in DC proper in the second quarter, more than twice the national average for the quarter. Gross profits nationwide were $46,000; in DC proper they were much higher, at $222,106. — DC Urban Turf

DC tops list for first-time buyers

In DC, 68 percent of homebuyers were first-timers in 2013, while Maryland also ranked high for first-time homebuyers at 63 percent. In Virginia, the report showed that first-time buyers only made up 57 percent of those taking out home loans. — WJLA

Days to close a loan drops to new low

The average number of days to close a loan has dropped to 37 in July, compared to 41 days in June, the the lowest average since tracking began.  — Realtor Magazine

Is the District affordable? Yes, relatively speaking, says new research

A new study that examines housing costs and transportation costs reveals DC is second to only San Fransisco as the most affordable city in the country. — Washington Post

Related Articles

Leave a comment

You are commenting as guest.
  • Ways to save at closing

    Title charges are the largest chunk of closing costs and can vary by hundreds of dollars.

    Learn more

  • What are closing costs?

    The real estate closing process involves loan steps, legal steps and title steps.

    Learn more

  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

    Learn more

Connect with us

Our blog contains general information only, not intended to be relied upon as, nor a substitute for, specific professional advice. Rate tables and figures that appear on our blog are deemed reliable but not guaranteed. For current rates & policies, refer to our Quick Quote and Consumer Guide. We accept no responsibility for loss occasioned to any purpose acting on or refraining from action as a result of any material on our blog.