Case in point, behold what you can purchase east of the Anacostia river for $50,000 or less (which coincidently is less than I currently owe in student loans).
FYI -- Early last month during a Ward 8 community meeting Chairman Phil Mendelson (in the presence of two At-Large Councilmembers) promised to have At-Large Councilmember Anita Bonds hold an immediate hearing on the east of the river condo crisis.
I haven't heard a word about it since.
20020 Zip Code
"EXCELLENT OPPORTUNITY- Two bedroom condo located in sought out Anacostia. This unit has loads of potential and soaks in a lot of natural sunlight. This is a rare opportunity to re-design a condo unit. The property is currently a shell. This is a Fannie Mae Home path property."
"HUD HOME SOLD AS-IS, HUD CASE # 081-069794 IE *EQUAL HOUSING OPPORTUNITY*. GROUND RENT/HOA/CONDO FEES/FRONT FOOT FEES IF ANY TO BE VERIFIED. OFFERS SUBMITTED TO HUDHOMESTORE- Additional information and addenda at HUDHomestore, managed by MMREM-do not send offers to listing Broker."
"Investor alert - this property has lots of potential and is ready for renovation! Spacious 1 bedroom 1 bathroom condo with balcony off the living room that lets in lots of natural light. Conveniently located in Washington, DC close to Interstate 95 and 495."
"Spacious 2 bedroom 1 bath condo in a secured key entry building is ready for new owners. Close to Naylor Rd Metro & Good Hope Marketplace ( Safeway & Starbucks). Short sale is professionally negotiated. Will not qualify for any type of financing. Cash buyers only!!!! "
"*** Price Reduction***Great location to shopping and close access to 295 & 495. Coop pays all utilities and taxes. A great opportunity to live in D.C. at a affordable price. Owner financing with a 20% down payment. MUST BE OWNER OCCUPIED. NO EXCEPTIONS! PROPERTY IN GOOD CONDITION. You can buy this unit for less than rent... "
"Located bus line. Has 1 bedroom and 1 bath. Washer and dyer in the basement of building. Parking spaces not included. Investor delight. Call Css"
"SPACIOUS 2 BEDROOM 1 BATH on 1st floor, HARDWOOD FLOORS, CLOSE TO DOWNTOWN, MAJOR highways WITH EASY ACCESS. PARKING IN GATED COMMUNITY."
"Your BUYER will love this one... Spacious 2 BR 2nd floor condo with gourmet kitchen, stainless steel appliance, granite counter tops, hardwood floors, washer/dryer, and jacuzzi tub. 5 minutes to metro. Condo renovated in 2006."