DC Dream-home Story of an Amazing Couple……

Sarah and Leonell had been married for 6 years. Since last year they have been relentlessly exploring their dream home in Washington D.C. Sarah who was born and brought up in D.C. chose to live here till last breath.

A Beautiful Dream of a Dreamhouse

Sarah once said, ''Life in D.C. has become an integral part of our life. We enjoy nightlife of Gallery Place, shopping in City Center, dining at Chinatown, jogging to the DuPont Circle and the list goes on and on. I can never say enough of life in D.C''.

Leonell, who origins in Dallas has also habituated with the exciting lifestyle in D.C. Leonell was excited to say, ''there’s so much to do in DC, we never really get bored of our DC life. I don’t miss Dallas anymore'', he laughed.

With their first child on the way, Sarah and Leonell were looking for a home to call their own and to assure a secured future for the new member. In early 2013, they thought they had found it a three-bedroom row-house on the northern fringe of Columbia Heights. The type of house that would offer the space they wanted for their growing family and a chance to move into a neighborhood that had emerged as one of D.C.'s hottest areas.

Unfortunately they had a disappointing experience as the house had been mortgaged for decade and never been paid off. They felt betrayed and forged, they were broken. They were tensed and full of anxiety when they first contacted us for a second try, as the baby was waiting to see the world in just three months from then. We were also too anxious to help the amazing couple. Henceforth, the search began, a perfect home that would live up-to their dreams and satiate their needs were to be ascertained.

They foresaw a house not too big but one that had been fully gutted and renovated, with new bamboo floors, a mid-sized bedroom with an open balcony adjacent, a smaller child-bed with adequate flow of natural light throughout, a finished basement that could easily double as a play area for the little one on the way, an open-concept kitchen and living room on the main floor, and a new deck off or a miniature garden at the rear of the house where the family can sit around the red fire in frosty winters.

The Urge to Find a Home of their Own

After a hectic search we found a house that best reflected their preferences. Sarah and Leonell after visiting the house along with all required legal documents associated with the property, both smiled with a gust of relief. They were so satisfied with our cooperation and endorsements that they decided to make the brick and stone house their loving home. In spring, 2014, they signed the “holy grail” (the sale-contract) and unpacked their dream-home.

Sometimes buying and selling Real Estates which may sound a dullsville business, can as an add-on be socially beneficial and exhilarating when you see a convinced client relieved from the pros and cons dilemma of the process, settled in their own home with their loved ones. Finding the right dream-home in a preferred neighborhood means bringing home an incarnation of heaven on earth.

A Perfect Family Home

The dream-home story of Sarah and Leonell followed the same fairy-tale ending- “And they lived happily ever after” and not to forget Mr. Leonell junior who is caught every now and then running around the front-yard that is tastefully carpeted with fairy ring grass by Sarah.

We’ll always keep them in our treasured memento for their overwhelming gratitude and for being the most amicable client that they have always been. We are eagerly waiting for  expanding the memento list with many more amazing clients like them. You are just a few steps away from your ever desired home, let us bridge your dream to reality. Every CityDwellers trade has an underlying story behind it and a great many lives attaining homely serenity. We are delighted to welcome building many more of such crowned stories and change the lives of many wonderful people like you.

We Help & We Care

(N.B.- Due to our privacy and compliance policy, disguised names have been used. Nobody with similar identity or name is intended to coincide with.)

Luxurious yet Affordable DC Condos!

Looking for a new home in DC? Elevate your lifestyle with first-class living in stunningly finished condominiums in Washington, DC. With a variety of designs and amenities to choose from,  the condos offer high-end style and contemporary comfort.

Condos are luxurious and at the same affordable

These sophisticated residences has been designed to achieve a new standard in luxury living. This begins with the building’s facade, which unites brick and stone with large wall-to-wall windows, and continues to the interior, where gracious layouts have been outfitted with the latest appliances and finest luxury finishes, and the on-site amenities have been thoughtfully designed.

Spacious and luxurious bedroom of a Condo in DC!

Loft-inspired, open floor plans with expansive windows allowing for generous light and views of DC, wide-plank wood flooring throughout living spaces in a variety of stylish contemporary colors, baths with tile surround, premium hardware and kitchen-matching vanities, balconies in select residences, innovative lift parking system and storage with every home are the common features most DC condos furnish. Condos at the heart of DC also beat the drum for easy access to grocery, metro and nightlife of Gallery Place, Chinatown and City Center. Some luxury condos purvey separate billiards and card room with dramatic views of the city and Convention Center.

Gorgeous family living

Step outside your door onto the quiet tree-lined street and into the dynamic neighborhood, top-rated restaurants around every corner, finest shopping centres and chain-stores, an off-road trail suitable for walkers, joggers, bikers, and rollerbladers, all just a few blocks from your home. Living in your dream condo in the heart of DC means that you are in the midst of everything you could ever want or need and owning a condo in Washington, DC’s U Street area means surrounding yourself with many of the city’s most unique stores, restaurants, nightspots and galleries. There’s always something to do, dine at local cafés, check out inventive art, visit Verizon Center, shop for antiques and fashion, meet friends for cocktail, head down to Dupont Circle, or catch the Metro Green Line and go further. These DC condos are right where you want to be.

So, if you’re looking for condos for sale in DC, you have hit the right place! Take a look around our website and feel free to contact us about owning one of these condos. We excel at finding just the right one for you, keeping in mind your taste and affordability.

Washington D.C.: The New Boomcity

Washington, D.C. This place and its people are energetic, alive—owned and loved by God Himself. When I fully digest this, my love for this city and my understanding of who God is intensifies and spills over into love and hope for those nearest me.

Boomcity DC!

A passion pervades this city. Sirens sounding remind me of the pain. Church bells ring out in answer—a song of hope. From grand columns and architecture, the meticulous detail of America's most precious man-made structures testifies to man's passion to create something beautiful; it reflects minds filled with creativity and a longing for permanence.

The intricate design of the city's flowering trees speaks of God's attention and intense delight and matches the marvels of the constructed beauty for which the city is known. Engaging this culture is riddled with pain and disappointment, but where there are sirens, there are also church bells ringing with hope.

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth largest metropolitan economy in the United States.

DC Chinatown

A new wave of contemporary architecture is taking hold and a growing class of tech executives is helping to fuel the boom. All this is happening in Washington, D.C., a town known for its relative affordability compared with cities such as New York and San Francisco, and for architecture about as exciting as its fashion sense. Today, home prices in Washington and its surrounding suburbs are rapidly rising to new levels.

Washington's property market has been buoyed two forces specific to the capital city: a surge of federal contractors and a rising tide of government spending. The result: what real-estate agents and developers are calling an unprecedented real-estate surge.

During the first four months of this year, 11 homes in the D.C. metro area—which includes the District of Columbia, the city of Alexandria, Va., Virginia's Arlington and Fair-fax counties and Maryland's Montgomery County, among others sold for more than $5 million, according to Metropolitan Regional Information Systems. That's more than three times the number that sold during the same four-month period last year. Homes priced over $1 million saw a 32% rise over the same period. In the area's more-affluent neighborhoods, luxury-condo developers from around the country are arriving in droves.
  
Washington's economy which was never hit as hard during the recession as other major U.S. cities is flourishing. Foreign buyers, who long overlooked D.C. in favor of New York or Miami, are now beginning to purchase real estates, houses and condos in the Washington area. Lots of foreign money coming into DC housing market has added new impetus as they are tired of overheated NYC and Miami markets. Russian being heard more and more on the streets of tonier sections of town, this will never be the case in Chicago, Denver or Dallas.

The city is also becoming safer. Abandoned storefronts and burned-out buildings are being converted into condos. While it used to be dangerous to walk a few blocks to a nightclub in Logan Circle, that neighborhood is now known for its sprawling Whole Foods grocery store. Washington has always had the potential to be a truly world-class city, but in recent years it has really come to life in a way that we have never seen before.

Beautiful Row houses in DC

A more-contemporary design aesthetic is also finding its way into individual homes, as more young people arrive in the city. Homes with floor-to-ceiling windows and skylights are joining the brick row houses and Victorians that have long lined the city's streets. People are much less afraid to do modern stuff than they used to be.

One of our clients, after buying a condominium from us remarked:

"It was really the views that sold me", who spent another $1 million to finish the 5,300-square-foot space, which has white marble floors and 14-foot ceilings. "A building as luxurious as this condo is still a rarity in D.C.," he added  "D.C. isn't a money town, it's a power town''.

Robert Gurney, one of the city's most prominent modern architects, says he has triple the number of clients that he had five years ago. "In the old days, I used to hide modern elements behind traditional structures," he says, citing a project where he put a gabled roof on a house to help minimize the conspicuousness of large, modern windows. "But today there is no shortage of people in Washington that want a completely modern house," he adds, noting he has about 20 active projects in the works.

Washington D.C. is the city where we all love to live our entire lives. Its developing faster than anticipated and the Real Estate industry is growing everyday. Certainly, Washington D.C. is turning into the new boomcity.

Want to sell your house in DC? We buy houses faster than you can expect!

Having hurdles and confusion selling your house in DC? Wondering how to sell your house fast in Washington DC? Well, your search ends here. We are local house buyers in Washington DC.

Sell your house real fast in DC

We buy houses in an express manner through a hassle free process. We have sufficient financial support to present an offer within 24 hours and pay you in whatever legitimate method you prefer. Our express house buying service will ensure the closing is done in time, so that you don’t have to compromise your plans. We’ll work on your schedule to keep the process as convenient for you as possible. Your choice is our first preference!

We will never bother you for a reason. No matter what your reason is for selling your house, whether it is a job transfer, or inheriting an unwanted property, being foreclosed on, have

gotten divorced, or simply want to move – we’ll buy your house quickly and for cash! We can help you sell your property fast in just days. We buy it from you directly!

In a traditional sale you normally would have to repair and renovate the exterior and interior features of the house. With us, you are ready to sell your house just the way it is! There’s no need to make repairs or renovations, or pay to get rid of the stuff you don’t want – we handle all of it.

When searching for a company to sell your house, there is no better choice than City Dwellers. As home investors, we’ve bought hundreds of houses in DC, and have an outstanding customer satisfaction history.

Houses can take a long time to sell, and realtor fees and commissions can really pile up during that time. So you have to choose wisely! 

Hot Tips For Buying DC Investment Property

Hot Tips For Buying DC Investment Property

Tips For Buying Investment Property in DC

Tip # 1 Learn Networking:
It has been said that your net worth is equivalent to your network. Staying connected to like minded people who are doing similar things will provide many opportunities, from partnering on deals to sharing experiences. Furthermore, having somewhere to get a question answered is a great asset for your investor Toolbelt!

Tip # 2 Become A Deal Hunter:
Make it a point to always be on the lookout for your next potential deal. With the current market conditions, there are many deals to be found.

Tip # 3 Know Why You Want To Invest In Real Estate:
By understanding your reason for wanting to invest in Real Estate, you can make sure your business structure supports that logic.

Tip # 4 Investigate The Neighborhoods You Want to Invest In:
Learn the amenities and the type of communities near a potential investment. It can be a major advantage when it comes time to sell a property.

Tip # 5 Real Estate Investing Can Be Complex
There are many factors that affect the profitability of the investment. Profitability is most dependent upon your ability to find the best possible deal in the market. You must be able to identify the real estate deals that have the best potential and allow you to maximize your profits.

Tip # 6 Learn About Foreclosure
When a person purchases a home, they usually have to take a loan. The lenders, generally banks, keep the title to home as collateral in this case. The ownership of the home is transferred to the lender when the person is unable to pay the installments on time. This transfer of ownership to the lender is called Foreclosure. Buying foreclosures has been compared to playing poker. As an investment, it has its own risk.

Want to Sell Your House Fast in DC? Be Sure It Shows Well

Whether you are selling a house, townhouse, condo or apartment in Washington, DC, there are universal tips that will help it sell. Primary among those tips are making sure your home “shows well.”

Sell your house fast in DC

First impressions of houses for sale in dc goes a long way to determining how quickly houses will sell. Here are a few suggestions that will make your home in DC show well.

1. Be sure the approach to your home is clean, tidy and well groomed. Any brass should be polished, paint on the door should be in good condition and the door should be washed clean of fingerprints and paw marks.

2. If your home is a single family house for sale in DC, be sure the grass is cut, leaves raked, plant beds mulched and weeded, etc.

3. If your home is in a multi-family building, be sure the approach and hall to your home is clean even if it is not your job!

4. Be sure your home is tidy and uncluttered. This includes closets, cabinets, garages, and other storage areas. When “stuffed,” no amount of storage “shows” as adequate. When really messy, no room looks charming.

5. Make any repairs that are noticeably needed. Door handles and locks should fit well and firmly. Exterior doors should shut and lock solidly. Drains and downspouts should be firmly attached and clear of debris so water flows freely. Attached light fixtures should be firmly attached. All switches should turn on whatever they were designed to turn on — light, fan, disposal, etc.

6. Conventional wisdom dictates your home should be “neutralized.” You can’t really go wrong following this advice. You know the drill — beige or soft gray carpet, beige, gray, or taupe walls, white or off-white woodwork and ceilings. Sometimes a very soft gold or a soft sage green can also “read” as neutral.

7. If you have a sure sense of decorating homes (you probably do if family and friends frequently ask your advice and you enjoy making decorating decisions), and especially if you plan to leave color coordinated window treatments, you might leave more definite colors in place understanding that a potential buyer with no imagination might be put off by them and not think to request a “redecorating allowance” in a contract offer. Still, beautiful decorating which is not neutral undeniably attracts some buyers.

8. If your carpet is in poor condition, but you cannot afford to replace it, get several neutral samples in a mid-price range from a local carpet store, spread them on the floor, and add a note stating that you will be glad to provide a carpet allowance from the proceeds of settlement.

9. Dark homes for sale in dc show badly. Make sure lamps are on and lampshades are straight with the seams toward a wall. Make sure there is as much natural light as possible; have curtains, shades and blinds open.

Buyers in dc are looking for a home they can see themselves living in. Follow the above tips and you will position your home to sell quickly.

Fix It Then Flip It in DC

In Washington, DC the act of buying and flipping real estate has been refined to a fine art form. More and more people are making their fortunes in the Washington DC real estate market and its a simple truth that it can be done by anyone. It takes a great plan and some money to invest, but if done right the rewards can be astounding. No other area of dc real estate investment has consistently shown such a high profit margin and such a pattern of growth.

Fix It Then Flip it in DC

So what does it take to successfully fix & flip a home in DC? This depends on you. Are you a bit of a handyman? Or could you cut off your own finger with a spoon? If you are the latter you may want to engage the services of a contractor, it will likely save money, time and band-aids. Whether you choose to DIY or to hire someone to do the fixing aspect of this there are a few things they almost all fixer-uppers will need.

Paint is the most likely of these suspects. Most older homes for sale in DC have a somewhat neglected cosmetic makeup. A new coat of paint both inside and out can take years off a homes appearance and add nicely to its value. One place that usually needs a bit of love is the kitchen. As the highest traffic area in any home, kitchens can deteriorate faster than any other room. If you are looking for a quick way to increase your asking price, install all new appliances and redo the counter tops and cupboards. A modern and inviting kitchen is a great selling point.

If you have purchased a home as a “fixer-upper” chances are there are some aesthetic improvements that are going to be essential in terms of the property itself. To take care of the yard bring in a landscaper to create a new and dynamic flow for the property. New plants and flowers add a beautiful touch to a yard and can be one of the most inviting aspects of a home. The exterior of the houses for sale in DC are critical as the “visual impact” can make or break a sale. Just remember, the new asking price must justify the improvements that you have made. So never forget to plan your improvements carefully.

10 Ways To Find Investment Properties in Washington, DC

If you really want the best deals in investment properties, you have to increase your odds by finding more deals. Who is more likely to get a cheap apartment building, an investor that looks through the MLS listings and calls it a day, or the one that uses ten resources?

10 Ways To Find Investment Properties in Washington, DC

Here are the 10 ways:

1. Talk. Let people know you are looking and sometimes the properties will come to you. There are a lot of owners out there who want to sell, but haven’t yet listed their property.

2. Use the internet. Go to a search engine and enter the type of washington dc real estate you are looking for, along with the city you want to invest in. You never know what you might find.

3. Drive around looking for “For Sale By Owner” signs. Owners often don’t want to pay to keep the ad in the paper every week, so you won’t see all properties there.

4. Find abandoned houses for sale in DC. That’s a pretty clear sign that the owner doesn’t want to deal with the property. He might sell cheap.

5. Find old homes for rent in dc ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if the haven’t yet rented the units out.

6. Talk to bankers. You might get one of the foreclosed homes in DC at a cheaper price if you buy it before they list it with a dc real estate agent.

7. Offer someone a finder’s fee. There are people that always seem to hear about the good deals. Have such people coming to you.

8. Eviction notices. If your local papers publish eviction notices, or if you can get the information at the courthouse, it can be useful. A landlord who just went through the procees of evicting tenants is a likely seller.

9. Old FSBO ads. If you call on two-month-old “For sale By Owner” ads, and they haven’t sold, they may be ready to deal. Owners often give up the effort, but still would love to sell. Help them out!

10. Put an ad in the paper. “Looking for investment properties to buy,” might be sufficient to generate a few calls.

Tips for a Smooth House Purchase in DC

Making the decision to buy your own home can be one of the most stressful but rewarding choices of all. If you’re a first time buyer in DC, the entire process can seem very intimidating. A few common sense tips can help you ease your way through it much easier.

Houses for sale in DC

First off, go visit your local library and borrow a few books on basicreal estate principals. Make a sincere attempt at learning the jargon associated with the washington dc real estate process, so once you’re sitting in a meeting with a seller, a dc real estate agent and a bank officer, you’ll have a better idea of what everyone is talking about.

Second, know what the difference is between “pre-qualified not pre-approved”, “pre-qualified” and “pre-approved”. Sound confusing? It can be. It all relates to how serious of a buyer you are. If you’re “pre-qualified not pre-approved” it simply means that you have given a letter to a potential seller that you can afford their property. It’s nice, but it doesn’t mean much. If you’re “pre-qualified” it means that you have a letter from a mortgage broker saying what he thinks you can afford. This is better than not having a letter, but you can do better still. If you’re “pre-approved” it means that you not only have a letter from a broker, but everything in the letter was shown to be true by a lender and most of the work for a loan has already been done. You’ll have a MUCH better chance of getting the house you want if you’re “pre-approved” than if you are only on one of the other stages.

Choose the right lender. One of the phrases you’re bound to get sick of hearing when you’re thinking about buying a home is, “do the research!!” This can’t be emphasized enough since banks offer different rates across the board. The more banks you visit, the better the chances are of you getting a better deal. Make sure that you plan for possible delays in processing.

Any business that deals in red tape is going to have problems getting things done on time. Houses for sale in DC are no different, so make sure you factor these likely problems into your plans. While none of these tips are fool proof, they can help you through a very stressful time. No doubt you will still have times where you feel like putting your fist through a wall, but a little common sense goes a long way when dealing with washington dc real estate, and the more you know, the better off you’ll be.

5 House Flipping Do's in Washington, DC

While many people have very specific dreams of enjoying the bountiful profits that can be made from flipping houses in DC, very few people put too terribly much thought into the process or any formulas that might be pertinent to success when it comes to flipping houses as a DC real estate investment venture or for the sake of building a nice comfortable lifestyle or retirement. You will hear a lot about the things not to do when it comes to flipping houses but very few people take the time to mention the things you absolutely must do in order to successfully flip a house and thus begin your ride on the road to Washington dc real estate investment riches.

Real Estate Wholesaling in Washington DC

1) Do put everything to pen and paper and plan it out carefully before you begin. If you are going to enter into this to make money you need to treat it like a business. This means you need to have a plan of action and make every effort to work towards carrying out that plan.
2) Do establish a budget for the entire project. You need to have a plan for how much money you are willing to invest in the property itself, how much for renovations, and how much money you need to make in order to be a worthy investment for your time and labor. A house flip in DC is a lot of work in order to pull it off successfully. You want to have a good idea of how much homes in the neighborhood are worth, the value of your property as is and the estimated value of the property once improvements are made. In addition you should also have a pretty firm grasp of the costs involved in making the repairs in order to create a realistic budget for the entire project.
3) Do have an inspection. This is the single most important detail that can save you a great deal of time, money, and heartache when everything is said and done. Be prepared to walk away if the inspection determines that there is more work needing to be done than simple cosmetic repairs. You want to make changes that people can see because those are generally the changes that drive up the cost of the house. You want to avoid needing to make changes and improvements that aren't visible but are very necessary. If you need to invest a lot of money and labor into the house you need to seriously consider the realistic profit potential the property offers. If it isn't significant then you need to walk away before the property becomes a dc real estate investment money pit.
4) Do know the neighborhood and plan your flip according to the needs of the area rather than your personal tastes and needs in a home. This is another thing that many first time flippers forget. This is not a personal project it is a business project and you need to treat it as such. Keep costs down and feelings out.
5) Do remember that you are in the market to make money not waste money when it comes to establishing an asking price for the property. You've poured blood, sweat, and probably more than a few tears into your flip but you cannot set the value of the property by the effort you've placed into it. Have realistic expectations of how much you stand to earn from your efforts and how much you are willing to go down on the price in order to walk away with some profit in your pocket.

You should also take a moment to reflect upon the fact that many first time flippers actually lose money on their first flip. If you turn a profit at all, even a small profit you have learned many valuable lessons that you can carry with you into future flips and make more money. More importantly the lessons you learn from your first flip are lessons that money really cannot buy so it is worth a lower profit or even taking a slight hit if your experience makes you even more money in the future as you continue along your real estate investment path.

Real Estate Investing in Washington, DC Rental Properties

There are many ways in which a person can make a living when it comes to real estate investing in DC, some of them carry more risks than others. It goes without saying that those that carry the greatest risks are often the very Washington DC real estate investment methods with the highest potential profit but slow and steady, in many cases, wins the race. Flipping houses is in the news a lot because so many fortunes have been made doing this-more than a few have been lost in this venture as well but those don't make the news nearly as often.

Houses for Rent in DC

Working with rental properties isn't nearly as glamorous and doesn't provide the almost instant profits that flipping houses might but it is also a great and very valid method of real estate investing that will build a steady profit over time if you plan properly. Houses for rent in DC are in demand now more than ever with so many people going into foreclosure and losing the homes they've worked hard to build for their families. For this reason rental properties in DC are a good thing to own at the moment, especially those that are family homes.

There are many reasons that people look for a house for rent in DC and while there are some risks involved when renting properties, the risks are much lower than the risks involved in flipping or pre-construction investment endeavors. There are a few things you should consider when purchasing a property for the sake of renting however in order to make a wise and long lasting decision for your real estate investment.

First, only invest in rental properties in areas that people want to live in. It may be true that you can buy property cheap in a few very run down sections of town but it is doubtful that you will turn those properties into profitable rental units. It is best to pay a little more for a more attractive address for renters. You will find that your properties are inhabited more often, which will make you more money in the long run.

Second, pay attention to the types of people in the area and buy houses for rent in DC accordingly. It is quite possible to turn large homes into multiple smaller apartment units (according to local zoning laws) that are ideal for college students. You do not want to do this however in an area that is geared towards family homes and won't be friendly or tolerant of college students. Design the rentals according to the market you are attempting to attract.

Third, don't be greedy. The goal of owning homes for rent in DC is of course, to make money. At the same time if your price your properties too high you will find that they sit empty more often than not. Every month that your property is empty is a month that you aren't making money on that property at best and a month that you are losing money at worst.

Fourth, know the Washington DC Real Estate market. Study the local market for buying DC real estate and renting real estate. This will help with many things, not the least of which is determining whether or not any given property will make an attractive rental unit. Another thing it will help you determine is how much rent the units you are considering can bring in month after month.

Finally, when renting properties you need to keep your eye on the long-term goals rather than shortsighted goals. Property rental is a marathon rather than a sprint with the greatest profits coming at the end. You will want to pay as little interest on the property as possible and pay the property off as quickly as possible in order to realize the maximum profit potential and acquire new properties. The real money when renting properties as a Washington dc real estate investment isn't in renting out one or two units but twenty or thirty. The more rental properties you own the more money you stand to make from owning them.

Click Here to Get a Free Tenant Report Today

Mortgage Foreclosure in Washington, DC - How It Works

The process of mortgage foreclosure in Washington DC has a set procedure. These laws do vary a little bit from state to state. However, most of them follow a certain process that you will see below.

In case you do not already know, foreclosure is what happens when a person cannot pay their mortgage or other home loan. In the loan agreement, the bank always has the right to take possession of the house if the loan is not paid. Then they will sell it to make back the money that is owed to them. Because they have the house as security for the loan, they can offer lower interest rates on a mortgage than on an unsecured loan.

As soon as a person misses even one mortgage payment, the bank in DC will be aware of it and they will begin the very early stages of the process. In the beginning, they will try to work with the home owner to get the missed payment or payments paid. The first letter in this process may arrive as soon as 2 weeks after the first missed payment was due.

After a person has missed payments for three months or more, the bank will have a lawyer file a Notice Of Default (NOD) at the County Recorder's office. This is the official notice to the person that they are facing foreclosure proceedings and will lose their home if matters are not put right. Some lenders file this immediately at the minimum 90 days. Others wait longer, sometimes up to a year.

If the debt is not settled or payments agreed to the satisfaction of the lender within 90 days of the Notice Of Default, then a second notice giving a date for the sale will be sent. The sale is usually 15 to 30 days from the date of this second notice.

The sale notice will be filed with the County Recorder, posted on the washington dc property and published in the local newspapers. The sale is usually by auction in a Trustee Sale.

The sale itself is normally held on the steps of the courthouse in the county where the house is located. The auction will be held and the winning bidder must pay in cash. Usually, they pay a deposit right there at the auction and then the rest is due within 24 hours.

The starting price is set by the lender and usually it will be the total amount of the debt including all the interest that is due and the legal fees from the foreclosure process. So in some cases the price starts low and there may be a lot of bidders. In other cases if the price is high there may be nobody bidding in dc. In this case the lawyers will usually take the dc property.

So there is a set procedure that is followed in each state and it is always possible to get an explanation of it from a lender. It should not be hard to understand. Foreclosed homes in dc will go through a long drawn out process and most local dc banks prefer to work with a home owner to get a payment plan set up if possible. Mortgage foreclosure is a last step that both sides usually want to avoid if they can.

Merry Christmash & A Happy New Year!

Please share your Christmas experience with us in the comments!! We hope you have a wonderful Christmas & have a great new year! Enjoy your holiday!

Why Flip Houses

There are many great questions to ask when it comes to real estate investing and one of the many that you should consider if you are thinking of flipping houses for your real estate investment is: why? Why flip houses? It certainly seems as though it's a great deal of work and it is. It isn't an easy task to take upon your own shoulders and yet many people around the world purchase houses each and every day for the purpose of flipping those houses. Why? Profit is the long and the short answer but it goes much deeper than that for many who are interested in flipping houses even if profit is the ultimate goal.

Some people really enjoy working with their hands. Purchasing a property in need of light cosmetic repairs and retouches is a great way to get your hands dirty without risking too much money, time or effort. Properties needing more serious work may require a pair of hands that have some degree of experience rather than hands that are best suited for balancing books. That being said if you want to do the work yourself and enjoy the prospect you may find that you can save a great deal of money if you use your own labor rather than paying for the labor of others when it comes to flipping a house.

Other people go into this line of work because the idea of giving a family their dream home is so appealing. When you go in and flip a house you are putting your sweat into creating someone else's dream. You are taking something that may have been plain, ugly, or drab and turning it into a beautiful home in which they can build their dreams. While it may seem a little romantic, it is in a way. This is part of the beauty of flipping houses though; there really is no wrong reason to do it.

Some people choose this line of work because deep down inside they need the pain that goes into turning a lump of coal into a diamond. I think the literal term for these people (and really this could apply to anyone who decided to flip houses for a living) is masochist. The shoe fits for most people who flip houses. If they didn't know going into it the first time they certainly know before they go into it a second time.

Then there are those that are simply driven by profit. There really isn't anything at all wrong with that. Most of us would never get into this business if there weren't some hope of a pot of gold on the other side of the rainbow. This is hard work and there are days that the promise of a pay off is the only thing that gets you out of bed and hitting the ground running yet again.

Just remember that at the end of the day it doesn't matter what your goal in flipping houses is. What matters is that you show up day after day and do the work necessary to pull off your house flip. This is what makes the difference between those playing at flipping houses and those who are doomed to be one hit wonders in this brutal business. Of course, there are still those few who flip houses just for the sake of seeing the finished product when everything is said and done.

Prevent Foreclosure: Do Not Lose Your Home

There are many ways to prevent foreclosure depending on your situation and what stage you are at. Most people who miss a mortgage payment still find a way to keep their homes. In fact, around 95% of people who face a risk of foreclosure manage to avoid it. So do not despair.

The earlier you start to take steps, the better your chances will be. If you do nothing and hope the problem will go away, then it will get worse. Your credit rating will drop with every missed payment and it becomes harder to find refinancing. But even if this has already happened, there is still hope.

The first thing to remember is always to make your payments if you can. The mortgage on your home is probably the most important payment to make each month. If you miss credit card payments, your credit rating will suffer a little bit. But if you miss home loan payments, not only your credit rating drops but also you risk losing your home.

If you have some missed payments, you need to talk to your lender. They usually want to help you keep your home (and keep on paying on the loan!). They will be sympathetic to any plans that you have for making up the payments that you have missed. They may even agree to extend the period of your loan so that you don't have to pay any more right now, but just keep on with the same monthly payment.

After coming to an agreement like this with your lender it is very important that you keep to it. You may be tempted to think that it was easy to reach agreement so it doesn't matter if you miss payments again. This is not true! If you default a second time, their attitude may be much harder. They may start the foreclosure process much sooner. So be sure that you will be able to keep to whatever payments you agree on, and make those payments every month without fail.

Any time that the bank writes to you or calls you about your loan, be sure to answer. If you always answer them quickly then they will be much more comfortable trusting you when there are problems. Remember that every little thing probably goes on your record. Call them as soon as you can when they ask you to - that means within hours, not days.

Answering their calls and letters quickly will also minimize anxiety for you. Any letter that is lying around unanswered is always in the back of your mind, even if you hid it away, and it increases your stress.

However, never call when you are very angry or upset. This will only make the situation worse. If a letter or message from the lender has made you very emotional, a good way to deal with this is to call someone else first and talk it through with them until you have become calm. If possible, pick someone who will help you to see the lender's point of view. You could practice what you will say by having your friend play the part of the bank staff member.

When you do finally call, remember that whatever situation you are in, it is not the fault of the individual person that you are speaking to. Even if you think the bank has acted badly, try not to blame the person who happens to answer your call.

Finally, if you cannot find a way to make your payments, take advice on filing for Chapter 13 bankruptcy. Find out about this as early as possible to be sure not to miss the deadlines. If you can work out a plan for repaying your creditors that is approved by the court, you can prevent foreclosure this way.

Risks of Real Estate Investing

All good things carry with them some degree of risk. The same holds true with real estate investing. Despite the promise of high rewards you should temper those ambitions with the reality that the risks involved are more often than not just as high as the potential rewards. For this reason you need to take every possible precaution in order to insure that you minimize your exposure to risk whenever possible or at the very least are prepared, financially and mentally to accept the consequences of those risks if the time comes.

The most obvious risk when it comes to real estate investing is the immediate risk of losing your investment. This risk can be a huge blow depending on how large your investment was to begin with but isn't the worst thing that can happen during the course of a real estate investment gone wrong. While I'm certainly not trying to talk you out of investing in real estate all together it is a good idea to have a realistic view of the risks and the potential rewards.

If you are flipping houses as your real estate investment you have the potential to loose a little more as you can become injured during the course of your work. The sad truth is that many who are attempting to break into the business of flipping houses have neither adequate insurance coverage (this is true of themselves and the property in general and others that may be working on the property), the money, nor the time that a serious injury might require.

Another risk common to real estate investing is the fact that stuff happens. Market trends tumble, companies go out of business leaving towns and the local real estate market in shambles, accidents happen during the course of the work, natural disasters occur, and buyers change their minds and pull out at the last minute. Each of these things can have devastating consequences and are almost always events that are completely beyond your control as a real estate investor.

If that wasn't enough many investors fail to have a proper inspection and find out when it is really too late that there are serious structural problems and other sorts of things wrong with the property. These things cost money to repair and cut into profits, occasionally resulting in a loss. The thing is that once you find out something is wrong with the property you are honor bound to either reveal the problem to potential buyers or fix the problems before selling the house. In the case of a flip, many major problems will undo the work that has already be done. If this doesn't remind you of the importance of a thorough inspection I have no idea exactly what will but inspections are important for many reasons and can save a lot of time and money if you have one done ahead of time.

Do not allow the risks of real estate investing prevent you from taking the plunge. They are spelled out here to remind you that prudence and caution are wise when investing in real estate not to talk you out of this potentially lucrative field of investing. If you are interested in real estate investing there is no reason on earth you shouldn't take the time and make the effort to learn more about its potential.

Do You Need a Property Manager?

There are many decisions that you will need to make when investing in real estate. One of those decisions, for those handling rental properties is whether or not you need a property manager. Property managers have many uses and are a great idea for those who have many properties to handle and wish to have a life away from their real estate investing businesses. A property manager is your buffer between your tenants and your family.

The benefits of a good property management service are quite numerous. To begin with you will find that they eliminate the need for tenants to have your phone number. If you've dealt with rental properties before without the buffer of a property manager you are surely aware that it doesn't matter what time of night or the morning things go wrong, you are the first person your tenants call to fix those things. A property management service is able to handle many things for you while letting you sleep through the night. It's no small favor when you consider the multiples of tenants as you purchase more properties. A few late night phone calls and many rental property owners are almost ready to get out of the business of renting properties.

Property management services also often happen to have a qualified staff of maintenance people that can handle many of the things that go wrong with rental properties. The fee for these services may be included in your fees for the using the property management service in general or certain services may charge additional fees. Regardless your property manager or property management team is often the best source to find contractors to handle the repairs they cannot make for you as well as the repairs that they can. It's nice to know that you won't be getting up bleary eyed in the morning calling around for a plumber on the first exceptionally cold day of winter. Moreover it's nice to know that someone else can deal with some of the negative things about owning rental properties.

My personal favorite reason to seek the services of a property management service is that they are qualified to handle the legalities of taking care of tenants who cannot make the rent for months on end. This is after all a business and while you can relate to the circumstances that leave some people unable to pay their rent you need the income from their property in order to make your bills. It's much easier to leave some of the less pleasant tasks to someone else, especially if you are a softy for sob stories.

Property managers also handle the advertising for your property and the cleaning up and retouches that are necessary between tenants. They  also allow you to take vacations and such filled with the knowledge that your properties and tenants are in good hands even when you aren't there to oversee everything. Everyone needs to take a break sometimes it's nice to know that with a reliable property manager you can actually sit back and relax while taking those breaks without worrying about all the particulars of the properties you own so far away.

If you are going to invest in real estate, this is one of the most worry free ways you can do it. The more properties you have, the more sense it makes to utilize the services of a reliable property management team.

How to Maximize Profits on a House Flip

When it comes to real estate investing a house flip is a great way to go. It's also a rather bold move for many who are considering this as a first time real estate investment. At the same time you can minimize the risk while maximizing the profit potential by following a few guidelines.

1) Have an inspection. For whatever reason there are many people who enter into a property flip situation without ever having a valid and complete inspection of the property made. This means you could be doing work that will need to be undone at some later point in the process. You want to avoid this situation if at all possible and it is easily done (in most cases) by having a thorough inspection. There will almost always however be some unanticipated surprises along the way.

2) Establish a budget and stick with it. Most people flipping houses plan a budget. Unfortunately, for whatever reason, very few actually stick to the budget they originally established. It is a good idea to leave a little wiggle room in your budget for unexpected emergencies but be firm on the spending limits for specific projects. If you go over on those projects eliminate something elsewhere in order to save money.

3) Consider the target buyer when making adjustments. You must understand when purchasing a house to flip that you are buying the house for someone else and you need to make adjustments, changes, and improvements according to what your target market demands, expects, and can afford to absorb the costs of you adding. It doesn't matter how beautiful you've made the house if no one that is willing to live in the neighborhood can afford your asking price when all is said and done.

4) Remember that this is a business situation and don't refuse to consider offers that will net you a profit just because the profit isn't as good as you'd like. A house sitting empty on the market accrues carrying costs and is ripe for all manner of disasters. You want to get in and out as quickly as possible so that you can free up your investment to move on to the next project. Entertain all offers seriously even if they aren't what you were hoping for. You never know when one might be the best you're going to get.

5) Don't take it personally. Once again a home is a very personal thing to most people. While you may have worked very hard selecting colors, materials, flooring, etc. not everyone is going to share your tastes. Do not alienate potential buyers by attaching personal emotions into the mix and getting angry because they do not appreciate your hard work. I hate to add this but it happens a lot more than you might think when flipping houses.

6) Spend as little money as possible while making bold changes. This is the best way to maximize your profits. You want the changes to be visible and effective. Don't overlook the value of curb appeal you need to put serious effort into improving the exterior of the home as well as the interior because this is what people will see first and the change that will invite them to take a look at what you've done inside.

Little changes make a big improvement in the value (especially the perceived value) of a home. Make the necessary changes and sell the house as quickly as possible in order to bring in the best possible profits.

When Good Renovations Go Bad

It is common sense to think that if you fix up your place, maybe add a little more counter space in the kitchen or maybe another bathroom, you’ll be able to sell your home for more than you bought it for. And in most cases, you would be right. But in a recent study done by Remodelling Magazine, there are some renovations that can actually cost you money and hurt the value of your house.

One of the biggest signs in today’s world that you’ve “made it” is the back yard pool. Maybe no other home improvement screams to the world that you’ve reached a level of financial security that you’re comfortable with like a pool. Well, not everyone feels the same way. Studies done in Florida and Arizona show that having a pool is still a big part in building equity in your property. But what about the rest of the country? How about places where it isn’t warm year-round? It turns out that a pool can work against you in parts of the country that have four seasons. The cost of upkeep and insurance are the main turnoffs. But there is one other turnoff, too. The risks of raising young children in a home that has a pool has become a red flag for many new parents. The fear of a drowning accident is very real for many, and the presence of a pool can turn a first-time home buyer away from your property.

Be careful when you try to get too trendy when you go to remodel. An extremely important point to remember is that while you may think a special touch is cool and fashionable, the people coming to look at your house may not think so. And while most remodel touches can be changed, you may have a hard time talking a prospective buyer into that. If you are not completely sure that the house you’re living in isn’t going to be the house you die in, try to make any remodelling touches neutral so that if the time comes to sell, you won’t regret what you did.

A final risk to avoid is the Jacuzzi tub. While you may have the time to sit in a hot tub for an hour a day, most people don’t, and most people won’t use it. You would be better off with an elaborate shower system than a big, fancy bathtub.

Commercial Real Estate Investing

The financial industry greats will be the first to tell you that real estate investing has the potential to bring in serious profits. They will also gleefully inform you that the risks in some cases far outweigh the potential, especially if they are among the more cautious investors in the industry. Those who have made their fortunes in real estate however will tell you that investing in real estate is worth every ounce of risk when you manage to work through the rough patches and find your way to real estate investing fortunes.

Commercial real estate is somewhat unique among real estate investment types. This is the type of real estate that requires a high investment to get into the game, much higher than most residential property and poses equally great risks depending on what you plan to do with your commercial real estate investment. Of course you will also find more than a few options for your commercial real estate investment that many investors find appealing.

Most investors find leasing office or building space to be the safest route to take when it comes to real estate investing is the path of leasing office space or warehouse space to businesses. They feel that this is a relatively steady source of income because most businesses prefer to keep their locations as long as possible. Smart business owners are well aware that customers, clients, and vendors need to be able to find them in order to do business with them and for this reason, prefer to keep their business in the same location whenever possible rather than reestablishing themselves in different locations year after year.

Commercial real estate investing is a bit of a different animal than traditional residential real estate that many of us are more familiar or comfortable with. You will need to do a lot of research before jumping in with both feet with this particular sort of real estate investment. Commercial real estate investments can take on many forms. From strip malls and outright shopping malls to business and industrial complexes to sky scrapers and high rise condos you will find all manner of commercial real estate interests. Whether your interests lie in business or personal types of commercial real estate there are significant profits that stand to be made.

Unfortunately, beginners often find the path to commercial real estate investing laden with thorns. You will need a massive contribution to fund your commercial real estate pursuits and it is probably best if you can find a group of investors in order to share some of the risks. Real estate, in and of itself, is a high-risk venture. Commercial real estate bears a little more of the risks in the beginning however once you're established and people, particularly investors, know your name you will find that path to real estate wealth is much easier obtained through commercial real estate, if you play your cards right than many other types of real estate investing.

To create even bigger profits it is often best to work as part of a team of investors when it comes to commercial real estate investing. Not only does this approach spread out the risks to some degree but also helps find the good buys, spreads the labor pool, creates an environment of ideas, and allows you to bounce those ideas off one another seeking temperance and enthusiasm for members of your investment group in like measures. It is a great idea for those who are looking to build a prosperous future in the field of commercial real estate investing and can be extremely profitable for all involved.

Commercial real estate investing can be extremely intimidating if you allow it to be. Avoid putting yourself in a situation where you feel out of control or completely uncomfortable for your first commercial real estate investment but if you have the means, the price is right, the deal appears to be solid, and you feel you are ready for the challenge, commercial real estate profits can be a serious motivation.

Rental Ownership Woes

While real estate investing is a great line of business to get into in order to make copious piles of money.  There are a few things to consider before jumping into the fray. This is particularly true if you are considering going the route of a rental property owner. There are all kinds of reasons that this is a good solid investment for most that are interested in investing in the real estate business.  However, it doesn't come without a few drawbacks. Not all of which are financial. It would be wise to consider these things before you buy your first rental property.

First of all, if you own rental properties and elect to manage them yourself, which is probably wise unless your first property is a multiple rental unit, you will quickly discover that your life is no longer your own. You are literally on call 24 hours a day 7 days a week to handle problems that may arise from pipes bursting, heating going out, electric issues, noxious fumes, leaky roofs and window sills and countless other complaints that may erupt at odd hours of the day or night. Your tenants will have your phone number and expect you to always take their calls. 

Second, you have to play the role of Mr. or Mrs. Mean every month when the rent is due. This is probably the least tasteful task of owning rental properties for many rental property owners and one reason that many resort to the services of a property management agency above all other reasons. You will hear all manner of sob stories in your role as landlord but you need to treat this like the business even the things about your business you don't like such as rent collecting and, when necessary, eviction proceedings.

Third, the constant need for upkeep and repair is often daunting to rental property owners. It's a sad truth that people do not treat rental properties with the respect that they would treat a home of their own. For this reason, you almost always need to paint and replace carpeting, at the very least in between tenants. This takes works and time not to mention the fact that the time that is spent painting and replacing the flooring is time that the property is going to be empty of tenants and not bringing in any income.

Finally, there is the constant need to have the property occupied. As the owner of a rental property, you will need to find new tenants when the old ones leave because every day the property is empty is a day you aren't making money. You want to have the property filled as often as possible and you will really want long term tenants whenever you can manage that. One way of course is by making sure that your tenants are treated well, not overcharged, and happy with their homes.

Owning rental property can be financially rewarding but it is a lot more work than many people give it credit for being in light of other careers within the real estate investment field that may require more work upfront. Rental properties require a long-term commitment to keeping the property in good working order and making it a profitable venture for many years to come. If you are considering this business and the above things are a deterrent for you, it might be a good idea to obtain the services of a property manager, such as CityDwellers.