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Too High to Flip? Realty Investor Woes in Northern Virginia

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[Photo by Wayan Vota]

It's hard to be an investor looking to flip Northern Virginia properties in 2013. Realtor Justin Pierce tells the Washington Post that his attempts to purchase fixer-upper projects in the past year have not only given him little return on his investments, but are hard to even pick up. "In March, I made an offer on a foreclosure that was $45,000 above the list price and I was still outbid by $10,000," he states. The good news in general is that this is a sign of the growing economy. Although the article ends with Pierce purchasing a Temple Hills home, if he's licensed in D.C., maybe he should look at all the vacant properties in Ward 1.
· Gone Are the Low Lying Fruits of Real Estate [WaPo]
· Here's an interactive map of all the vacant and blighted properties in Ward 1 -- use it! [New Columbia Heights]