Washington D.C. Foreclosure Rate Spikes in First Month of 2008
March 12th, 2008 by 
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Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier.
This statistic becomes even more serious when compared with other regions during the same month. For example, the Chicago area saw a 3% drop in their rate of foreclosure, while the Michigan market saw a nearly 8% drop in foreclosures registered during the first month of the year.
This could spell trouble for the Washington D.C. area, but could mean big things for those interested in investing in its foreclosure inventory. Experts have pointed to a new generation of adjustable rate mortgages set to go into periods of rate adjustment during 2008 as reason to believe that this upcoming year may be the worst ever for foreclosures. In Washington D.C., this may be quite true, while other areas may have taken steps to combat their rising rates of foreclosure as well.
It’s also important to keeping mind however that Washington D.C. is in essence a large urban area with no suburbs or rural areas. Since foreclosures have hit hardest in urban areas, this could be another reason why the region’s statistics are so inflated—there are no other areas, as in most states, where foreclosure rates are relatively low. When compared with other cities, Washington D.C.’s foreclosure rate is fairly standard for the times.
Investing in the right kinds of Washington D.C. foreclosures could be very lucrative, provided you’re willing to hold out until the market begins to come around again. Right now, the flooded foreclosures market has prices on foreclosure property way down, so if you buy in affluent areas where properties have the potential to have value in the future, you could get some great deals.
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March 22nd, 2008 at 9:09 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
March 25th, 2008 at 1:03 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
March 27th, 2008 at 3:47 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
March 28th, 2008 at 3:17 am
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
March 28th, 2008 at 6:51 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
March 30th, 2008 at 5:57 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
April 3rd, 2008 at 11:51 pm
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]
April 8th, 2008 at 9:17 am
[…] Washington D.C. Foreclosure Rate Spikes in First Month of 2008 Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier. […]