foreclosures: Make Showing Foreclosures Fun - 07/24/08 07:30 AM
Delirious, yes that might be the word to use. In the early morning when sleep eludes you, the mind begins to spin. Did Americans really land on the moon or was it all a Hollywood hoax? Are all of the houses with foreclosures signs in front of them real or … (14 comments)
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foreclosures: How 7% of Mortgages Toppled the Market - 07/15/08 08:30 AM
As the issues with the subprime mortage mess continue to unravel at large and small companies across the US it is interesting to take a look at the numbers. When we look back at the amount and types of loans made we see a simple fact. That only 7% of the loans that were financed … (15 comments)
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foreclosures: How Did the Lender Get You to Shoulder the Load? - 07/05/08 05:48 PM
In Virginia when you sign a listing agreement with a seller it states that the "seller retains full responsibility for the property, including all utilities, maintenance, physical security and liability until title of the property is transferred to purchaser." Seems simple enough or is it in today's market?
When an agent goes to … (10 comments)
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foreclosures: What Happens When Banks Get into the Real Estate Business? - 07/02/08 12:25 PM
A few years ago Realtors® were up in arms about the thought that banks might get into the real estate business. Letters were fired off, hearings were held and the NAR spent thousands to make sure that banks stayed at arms length from the real estate transaction.
Fast forward to today … (59 comments)
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foreclosures: Whatever You Do Don't Open That Door - 06/11/08 07:05 AM
....to the fridge that is. No matter how many times I give out the warning to buyers as we walk in the door of a foreclosure property it happens. It is a habit that just can't be broken.
Obviously knowing what condition that appliances are in when you are thinking about … (18 comments)
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foreclosures: Another Get Rich Quick Scheme Hits the Airwaves - 06/01/08 02:55 PM
That's right you saw it here first. This morning in one of those can't sleep moments I turned on the TV and the latest infomercial on how to make a fortunate buying foreclosures was running. It was one of the many that the unsuspecting public hears everyday. The premise in all of … (10 comments)
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foreclosures: The News Came Knocking and the Assumptions Were Wrong - 05/27/08 07:45 PM
Today our local Washington ABC News Channel came knocking on our office door with a camera crew to put together a story on the high rate of foreclosures close to local military bases. They came with the assumption that due to the high number of military personnel in our area that … (12 comments)
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foreclosures: Foreclosure Negotiations-A Game of Pong Anyone? - 05/20/08 08:06 PM
Long before there was the Wii, Xbox 360 or PlayStation there was the Atari. One of the most popular games on Atari when it first came out was the rousing game of Pong. You could go fast or slow but certainly not anywhere near the speed of today's video games. Technology … (10 comments)
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foreclosures: Snap Your Fingers and Think the Addams Family - 05/03/08 07:30 PM
To me it doesn't matter whether a home is bank owned or not, if you want buyers to consider the property you need to take just a little time to keep up with listing photos and exterior maintenance.
Since my office is in Prince William County we deal with a fair share … (22 comments)
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foreclosures: Should I Add Burglar to My Business Card? - 05/01/08 06:06 PM
After the crazy loan issue earlier in the week recounted in my post"The Devil is in the Details" there were high hopes that my second closing for this week, a foreclosure, would make it to the settlement table on time. Despite some last minute concerns about my buyer's loan we were … (31 comments)
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foreclosures: Foreclosure Scammers-The Snake Oil Salesman of Today - 04/23/08 05:58 PM
Are you a homeowner facing foreclosure? If so you need to watch out for companies that are calling and writing you claiming that they can help you beat foreclosure. Unfortunately most of them are scams and they are looking for ways to try and make you part with what may be … (14 comments)
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foreclosures: Multiple Offers on Foreclosures-Why Not? - 04/08/08 07:03 AM
This isn't about the number of Northern Virginia foreclosure properties that are receiving multiple offers (they are) but about a strategy for buyers who are looking to buy foreclosure properties. Over the last few months one of the options that I have suggested to some of my buyers is a multiple offer foreclosure strategy.
Now … (12 comments)
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foreclosures: Prince William County Foreclosures- Lake Ridge Neighborhood Tour - 03/19/08 05:13 PM
Headed out today with clients to see how far we could get through a tour of foreclosure and short sale properties in the Lake Ridge area of Prince William County. It is always interesting to see how lenders have priced properties in the same neighborhoods in very different condition. Two properties … (0 comments)
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foreclosures: Short Sales-Is there a Pot of Gold at the End of the Process? - 03/17/08 04:51 PM
There seems to be a lot of discussion recently about the validity of short sales in the MLS and whether those listings are imaginary listings clogging up the MLS and detracting buyers from "real" listings.
Short sales aren't new. We had them in the 80's and the 90's in Northern Virginia. … (9 comments)
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foreclosures: Prince William County Foreclosures-Starting To Move - 03/16/08 05:09 PM
No one in the Northern Virginia area is going to deny that of all of the localities Prince William County has been hit the hardest by the sub-prime mortgage industry. The cost of homes throughout the county were lower than closer in Fairfax, Arlington and Alexandria Counties and with significant new … (6 comments)
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foreclosures: FInding Foreclosures in the Northern Virginia MLS - 03/05/08 09:28 AM
Short sales, foreclosures, bank owned, terms that we hear the press throwing around every day in Northern Virginia. Buyers want to know more about them and whether they are good deals. Agents are specializing in listing them and yet can you find them without spending hours searching through the MLS? In … (2 comments)
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foreclosures: Northern Virginia Foreclosures-A Deeper Analysis - 03/04/08 06:30 PM
How many foreclosures are there really in Northern Virginia?This is a question that is getting harder and harder to answer every day. Looking at the MLS will give you some data, not all of it marked by agents in a way that makes it easy to find, the county tax records … (6 comments)
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foreclosures: Fairfax County Foreclosures-Townhomes Homes in Springfield VA - 02/16/08 11:42 AM
As a follow-on to my posting earlier regarding Fairfax County Foreclosures-Detached Homes in Springfield VA this list is the current townhouse properties listed in the MLS in either Foreclosure or as an REO property in Springfield, VA.Just as with the previous list a foreclosure property may or may not be the … (6 comments)
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foreclosures: Fairfax County Foreclosures-Detached Homes in Springfield VA - 02/16/08 07:39 AM
With the news continuing to talk about foreclosures and short sales it makes sense to continue to post information on different cities and a list of the current properties available. Throughout Farifax County buyers will find a great variety of homes available to consider. Deals are beginning to emerge from among hundreds of … (3 comments)
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foreclosures: Will This Affect the Resale Value of My House-Foreclosures - 02/14/08 03:29 PM
Last week my Will This Affect the Resale Value of My Home post looked at the issue with power lines and water towers as possible issues with the resale value of your home. This week we are going to look at a serious issue in many Northern Virginia neighborhoods, foreclosures and how they may affect the … (10 comments)
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foreclosures: Fairfax County Foreclosures-Newer Lorton Detached Homes - 01/25/08 07:18 PM
A number of properties listed as foreclosures in Fairfax County are homes that have been built in last few years. Lorton which has had significant growth in the last five years is one of the those neighborhoods. Since these homes are newer many of them are still covered by the … (4 comments)
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foreclosures: Prince William County Foreclosures-Newer Homes In Woodbridge are Foreclosures Too! - 01/09/08 09:58 AM
A number of the properties listed as foreclosures in Prince William County are homes that have been built in last few years. In fact in Woodbridge you can find 30 homes built since 2005 currently listed for sale. These homes range from condos and golf villas in Belmont Bay to … (8 comments)
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foreclosures: Fairfax County Foreclosures Properties-Looking High and Low - 01/08/08 06:09 AM
It doesn’t matter what price range you are searching if you are looking for a foreclosure in Fairfax County you can find it. There are properties on the high end of the market and there are properties on the low end of the market.
If you are looking for a high … (3 comments)
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foreclosures: Fairfax County Foreclosure Properties-Townhouses in Burke, Lorton & Springfield - 01/07/08 03:06 PM
With the press and television continually talking about Fairfax County foreclosure and REO properties buyers keep asking me where to find the best deal. Yes, there are some houses that are worth taking a closer look at and others that are easy to pass by. However deciding to buy a … (5 comments)
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foreclosures: Big Brother Is Watching and It Isn't 1984!-UPDATE - 12/14/07 04:07 PM
The FBI has Northern Virginia in its sights. With the continued news on the issues surrounding sub-prime mortgages Northern Virginia is one of the areas that the FBI is taking a look at more closely. The 2006 Mortgage Fraud Report named Virginia as one of the top areas of suspicious … (4 comments)
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foreclosures: Northern Virginia Foreclosures-Make Them Easy to Find - 12/07/07 01:39 PM
With the increasing press emphasis on Foreclosure and REO properties trying to get a handle on how many there are in a neighborhood can sometimes be a daunting task for agents. In Northern Virginia our MLS has a field labeled “Current Financing” that agents can check to note whether the property … (12 comments)
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foreclosures: *GET RICH QUICK*PURCHASE FORECLOSURE PROPERTIES TODAY* - 12/02/07 10:56 AM
FIND IT*FUND IT* FLIP IT*
I’s that easy. At least that is what the speaker said at the “How to Make Money in Foreclosures” seminar offered in Northern Virginia this weekend. Whipping out a twenty dollar bill and asking for a ten in exchange he began to explain if you are … (31 comments)
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foreclosures: A Tale of Three Houses in Northern Virginia - 11/29/07 08:54 PM
This isn't a story about the three little pigs and since all of the houses are brick you don't have to worry about them being blown over. Instead it is a story about choices that buyers in today's market have to consider every day. All of the houses are in the … (5 comments)
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foreclosures: Update on Foreclosures-Fairfax County VA - 11/19/07 08:43 PM
I have been tracking a small group of foreclosure and short sale properties located in the West Springfield area (zip code 22152) for the last few months to see how low prices might go. This area has mature neighborhoods with loads of trees, is in the popular West Springfield HS pyramid and … (0 comments)
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foreclosures: Rental Watch-Are the Mortgage Payments Being Made? - 10/14/07 05:36 PM
This week a call came from a former client asking for help for his co-worker. The sheriff had turned up at the door of their rental property with orders to evict them from the premises. The renters a US Army Major and his family had moved in to the property in … (12 comments)
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foreclosures: Following Foreclosures in Springfield VA - 09/29/07 03:37 PM
I have been tracking a small group of foreclosure and short sale properties located in the West Springfield area (zip code 22152) for the last few months to see where prices head. This area has mature neighborhoods with loads of trees, is in the popular West Springfield HS pyramid and has easy … (2 comments)
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foreclosures: Some REO Properties Get No Respect - 09/20/07 08:08 AM
In our area we have agents who specialize in REO properties. In some cases when I've called them to ask about a property I learn it is their only business. They have dozens of properties listed and in one case there is an agent with over 80 current active listings. Other … (2 comments)
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foreclosures: Beware of Short Sale Surprises - 09/15/07 11:41 AM
In a market as we currently have in the DC Metro area it is likely you will have buyers that fall in love with a home that is listed as a "short sale." In most cases there won't be any problems with getting the property to the closing table. However the value … (5 comments)
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foreclosures: Foreclosure Bargains are still an Elusive Prey - 08/06/07 07:20 PM
Earlier in the summer I penned a blog titled Can you find me a good Foreclosure Deal? In response to continued questions from buyers I decided to do a double check on some numbers in the 22152 zip code(slightly random choice). First for those who are not familiar with Fairfax County … (3 comments)
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foreclosures: The truth about foreclosures - 04/14/07 05:31 PM
"Can you find me a good deal on a foreclosure property?"
I am asked this question on a regular basis and the answer is "not really"
If you pick up a newspaper it's hard to avoid seeing something about the increase in foreclosures. It's a fact that foreclosures are increasing, particularly for … (2 comments)
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