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Washington, DC: Foreclosures Abound in “The Capital of the World”

Washington, DC was voted by the Brookings Institution as the most walk-able city in the nation in 2007. Washington, DC's nicknames include “The Capital of the World,” “Chocolate City,” “District of Crime” and “The City of Trees.” Currently, there are about 588,300 residents in the city. Of the 265,557 households, there are 5,189 resale homes on the market and there are 2,149 homes on the foreclosure listings. There are also 541 homes in the pre-foreclosure and auction stages of foreclosure. The median home value is $584,721. The cost of living in Washington, DC is 29% above national average and the unemployment rate is at 6.7%, almost 3% below the current national average. Since there are so many foreclosures on the market, the choices for your dream home are endless.