Going Once, Going Twice, Sold!

D.C. properties are up for auction

By John Wist
|  Thursday, Jul 1, 2010  |  Updated 12:50 PM EDT
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Foreclosed Homes on the Auction Block

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ANTIOCH, CA - MAY 07: A lender foreclosure auction sign is posted in front of a foreclosed home May 7, 2009 in Antioch, California. A study of government data on subprime loans by the Center for Public Integrity showed that 56 percent of the $1.38 trillion in subprime mortgages originated from 15 lenders in California between 2005 and 2007. (Photo by Justin Sullivan/Getty Images)

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Foreclosed Homes on the Auction Block

Hundreds of foreclosure proprieties in the DC region are hitting the auction block.
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Low-priced property can be hard to come by in the District. But on Wednesday you could get the chance to buy a piece of D.C. real estate without burning a hole in your back pocket.

The District will be holding an auction of 18 vacant properties Wednesday, according to the Washington Business Journal. This is the second such auction in as many years.

The auction will feature single and multi-family homes as well as vacant lots. The properties are currently held by the Department of Housing and Community Development and were bought by the city through foreclosures or eminent domain.

Now the city is hoping that homeowners, non-profits and businesses will be looking for a good deal and take the property off its hands. Of course the city will benefit as well in a time when money has been short and in some cases disappearing.

Most of the lots are in Northwest and Northeast, but there are properties in six of the eight wards in the District.

The auction will be at 2 p.m. at the Washington Convention Center.

Click here for more information.

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