Winter 2013 update: How quickly can I buy a house in Washington DC?

The reelection is over, the fiscal cliff is behind us and the Washington DC real estate market is ablaze with activity.  Normally most realtors are on vacation in January and the spring market does not get going until mid to late February.  2013 is already shaping up to be a very bullish year for sellers, and still a great opportunity for buyers at these low attractive rates.  Investors are pouring into the city looking for rental properties, while home dwellers now feel confident to move up or down size, move into town or seek the larger home in the suburbs.  So if you are someone who is wanting or able to make a change, How long will it take from start to finish to get into to you new home.

• Average days to close on a home loan: 30-45
• Average days to get a contract on your home: 17
• Average days to complete an inspection: 1 – 7
• Average packing and move in time:  14 days (one week on either side of the move)

If you do not have to sell a home,  you are only constrained by the time it will take you to find and close on a home. For people financing a home, it takes roughly 50 days from the date of contract to closing on their property.  Anyone fortunate enough to pay all cash can get a better price and quicker turn around, but while it is possible to get all of this done in 2-3 weeks, it\’s best to leave yourself a larger window of time.  I have done deals that closed within a week, but those are all cash with no contingencies.