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These past few years, the housing market has taken a beating from the economy. It was nearly impossible to sell your house without meeting your price expectation for your home. People were being force to sell their homes because they could not keep up with their mortgage payments and in that scramble, had to sell their homes well below their asking price. In the past year or so, the market has bounced back and now the housing market is thriving. The District of Columbia is a prime example of a prosperous location.

Washington D.C. has showed a recent decrease in the amount of foreclosure rates which indicates that the market is recovering. Recent reports denote that there a plethora of people who are still looking for homes to buy. This means that most homes will get multiple offers from buyers. This increase of competition has moved the market slowly towards the domination sellers once again. Single family homes that include three or more bedrooms are being swiftly bought out by emerging families.
The prices of homes in the D.C. area have decreased 1.2% in a year. Although it is not equal to the national average, this trend is healthy. But now, buyers are concentrating on looking for listings in neighborhoods such as Dupont Circle, Capitol Hill, and Logan Circle because of their popularity and their location. Houses in these section range from $600,000 to well over $10 million.

The reason for the popularity of the D.C. real estate is due to the location. Owning a property in or around the D.C. is beneficial because of:
– The prospects of employment from government sectors
– Reagan National Airport is located in the heart of D.C.
– Proximity of highways such as 395
– Educational institutions such as George Washington University and Georgetown are located around the D.C. area

If you are thinking about investing in a property in the District, it would be fiscally sound if you were to do so. Now that the housing market has been revamped, now is a great time to buy a home. And when it’s time to buy a home, remember to call Title One settlement Group for the best title insurance in the D.C area!