foreclosures in hampton roads: Foreclosure Inventory in Hampton Roads - 07/12/11 01:08 AM
Foreclosures in Hampton Roads returned to the trend of the first half of 2011, edging downards to a new low of only 8.01% of available market inventory. 

If you are considering a foreclosed property in your home search, be sure your broker is familiar with the REO market.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 07/10/11 08:33 AM
REO Inventory remains in the same general vicinity with an increase of 4 one hundredths of a percent.  This is the first increase in 2011 and brings REO inventory to 8.07% of available inventory on the market in Southside Hampton Roads.

If you are considering buying a house in Hampton Roads and have an interest in foreclosures, contact an agent who is familiar with the REO market and has a proven track record of finding exceptional values for their buyer clients.  I am just such an agent and I look forward to your call.
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foreclosures in hampton roads: Foreclosure Inventory in Hampton Roads - 06/26/11 09:28 AM
It's been two weeks since my last update, but the numbers haven't changed dramatically over that time.  REO properties continue to represent around 8% of overall available inventory, Short Sale listings remained virtually unchanged, so distressed properties still represent only 21% of available inventory.
That means for every five homes on the market, one of them is a short sale or bank owned foreclosure.  Not too bad when compared with some parts of the country which were hit much harder.  If you're considering buying an REO property, talk with an agent who is familiar with the market segment.  If you are … (0 comments)

foreclosures in hampton roads: Foreclosure Inventory Continues Downward Trend - 04/23/11 09:01 PM
This has been a busy week, but I wanted to share the foreclosure numbers which were pulled on Sunday.  The downward trend continues although it edged down only slightly in the past week, it did continue the trend.

If you are considering the purchase of a foreclosure property, be certain to hire an agent to represent you that is familiar with the market and negotiating REO purchases.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 04/03/11 11:53 AM
This was the first week in 2011 that we had an increase in REO inventory as a percentage of overall propertie savailable on th market.  That was due in part to a slight pullback as March expired.  The change was actually quite small, a mere shift from 10.14% of the available inventory market that REO's now possess, to 10.19%, so the actual shift is five one hundredths of one percent. 
It appears that the inventory is getting into balance and the time for finding bargain foreclosure prices is drawing to a close.  If you want to find an REO property, … (0 comments)

foreclosures in hampton roads: Foreclosure Inventory Continues Downward Trend - 03/20/11 06:27 PM
Yet again, the downward trend continues in REO properties as a percentage of available inventory in Southside Hampton Roads.

If you are considering a foreclosure in Hampton Roads, this data indicates that time may be running out for getting the best possible selection.  Call today to let me help you locate your perfect home before it's gone.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 02/27/11 12:37 PM
Bank owned properties represent a percentage of available inventory on the market.  This week, that number again fell continuing the trend in place since December 2010.  Chesapeake and Virginia Beach had no net change in REO counts for the week, while Suffolk had more than a 10% decrease in REO inventory dropping from 96 available to only 85 available this week.

If you are interested in buying a bank owned property, call me today to make sure you know your choices and don't pay too much.  If you need assistance avoiding foreclosure, ask for the free information packet to help … (0 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 02/20/11 11:02 AM
Last week's data showed another slight decrease in REO properties as a portion of available inventory on the market in Southside Hampton Roads.  In fact, Portsmouth was the only city with an increase in bank owned properties on the market.
If you are considering buying a foreclosed property, contact an agent who is familiar with the market and abreast of market trends. Don't pay too much, but don't let the great ones slip away--call me to put my knowledge and experience to work for you.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 01/23/11 11:19 PM
For the third week in a row, the percentage of inventory on the Southside that is bank owned fell slightly, but not quite as low as it was a month ago.  This week, Chesapeake REO inventory as a percentage of available inventory in the city fell 5.7%.

If you are considering purchasing a foreclosure property, call me first to help you find the best value for your needs.  You need an agent who is familiar with the REO market and knows how to fight hard to get you the best deal possible.  I can be reached at 757-227-9007.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 01/16/11 01:54 PM
For the second week in a row, foreclosures represent a slightly smaller percentage of overall available inventory in Southside Hampton Roads.  Hovering just below 14% of available inventory, the change was driven by a slight increase in NON REO properties combined with a slight decrease in REO counts. Suffolk had a 3.1% increase in REO inventory and Virginia Beach posted the largest loss with a 3% decrease in REO's available.

If you are considering purchasing a foreclosure, don't be fooled by supposed lists available for sale, consult with a professional real estate agent, a REALTOR, who understands the market and … (0 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 01/15/11 12:36 PM
For the week ending January 9th, there were a few more foreclosed properties in inventory for Southside Hampton Roads, but as a percentage of available properties, there was a slight decline to 13.91%.  Portsmouth had the largest gain with 184 available REO listings.

If you are considering buying a foreclosed property, please contact me for assistance.  I have been working with buyers of foreclosed properties for many years, let me put that experience to work finding you an excellent deal on the foreclosure market.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 01/02/11 03:04 PM
In this, my first foreclosure data post for 2011, we have hit a new level of REO's in our local inventory for Southside Hampton Roads.  14% of the available inventory is now an REO listing and approximately 500 non REO listings expired or were withdrawn during the last week of 2010.

For those homeowners who are ready to sell and tired of competing with foreclosure properties, call me for a consultation on what I can do to help you reach your goals.  Drick Ward - 757-575-5156 to call or text me for help.
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foreclosures in hampton roads: With over 1200 REO Properties Available, Hampton Roads Is Ripe - 12/27/10 12:05 PM
The Southside Hampton Roads market has a wonderful selection of REO properties on the market.  In the past week, the number of available REO's rose to 1215, or 13.14% of the overall market which includes 8030 non-REO properties. 
Pending sales that have a contract with contingencies removed and are waiting to close is another measure.  This week the REO subset of this group rose slightly to just over 27% - quite possibly due to a seasonal slowdown with the holidays.  I suspect that measure will dip next week as many Asset Managers have incentives for sales closing by 12/31/2010, so … (0 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 12/05/10 11:39 AM
REO properties as a percentage of available inventory in Southside Hampton Roads (Virginia Beach, Norfolk, Chesapeake, Suffolk, and Portsmouth) edged up slightly to 11.83%, a 2.6% increase from the prior week.  Norfolk lead the gain with another 10 properties representing a 3.7% increase.  Chesapeake was the only city with a decrease in REO inventory for the week.
If you are considering purchasing a foreclosed property, call today for more information on properties currently on the market, not yet on the market, and neighborhood trends.  You deserve an agent with the knowledge and experience to make sure you get the best deal possible, … (1 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 11/28/10 12:25 PM
This week REO properties on the market in Southside Hampton Roads hit 1099 or 11.53% of available inventory.  Of pending properties (those under contract but not yet closed), REO's still represent about a quarter of the count.  This is partly attributed to the fact that REO sales generally take longer to close than traditional sales.  For the week, Chesapeake showed the biggest gain in available REO properties moving from 216 to 229 (an increase of 6%).
If you are considering purchasing a home, foreclosed properties may or may not be a good choice for you.  An experienced agent can guide you … (2 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 11/21/10 12:45 AM
Foreclosures in Southside Hampton Roads rose slightly this week as both a percentage and raw count while the non-REO inventory fell slightly.  Chesapeake added the most REO inventory with a 6.9% increase and Suffolk lost the most with a 4.1% decrease.

If you are considering the purchase of a bank owned property in Hampton Roads, you need an agent who KNOWS the REO market.  Call Drick Ward today for more information.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 11/01/10 01:28 PM
This week foreclosures edged up a tad to represent 10.74% of available properties on the marekt in Southside Hampton Roads.  Virginia Beach, Norfolk, and Chesapeake remained relatively stable, Suffolk lost 3.8% and Portsmouth gained 4.9%.

If you are considering the purchase of an REO property, call Drick Ward for assistance.
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foreclosures in hampton roads: Foreclosures in Hampton Roads - 10/24/10 12:45 PM
The banks halting foreclosures for about a week had little, if any, effect on the Hampton Roads market.  In the past week, there was a slight increase in REO inventory as a percentage of overall market inventory with Suffolk gaining a surprising 9.5% (but that's only an increase from 95 to 104 REO properties.)  REO properties continue to represent just over 26% of all pending sales which would seem to indicate the REO's are attracting more than their fair share of buyers since they only represent 11% of the inventory.  However, that number may be unrealistically high because a foreclosure generally … (1 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 10/17/10 12:55 PM
Last week, someone asked an interesting question.  How many of the pending sales are NON REO properties.  So I added a data element and have begun tracking that metric also.  This week Norfolk (+4%) and Chesapeake (+2%) were the only cities to have a measurable increase in REO inventory.  REO properties continue to represent about 10% of the available inventory.  But when you look at the pending sales, REO's represent 26% of the pending sales.  Obviously if the REO properties are getting more than their fair share of contracts, homeowners who just want (or need) to sell must remain competitive.
If … (1 comments)

foreclosures in hampton roads: Foreclosures in Hampton Roads - 10/10/10 11:38 PM
Yet again, Southside Hampton Roads foreclosures edged up slightly but still only represent 10.16% of the overall market inventory.  Portsmouth and Suffolk had the greatest percentage increase from their prior week counts with 7% and 6% respectively.  Virginia Beach and Norfolk dropped 2% and 1% respectively compared to their count of REO's the prior week.  Chesapeake posted a modest gain of 1% rising from 199 to 201.
Of course, these numbers indicate the REO properties that are LISTED for sale, without any regard to the banks' willingness to accept or negotiate offers.  News surfaced this week that many of the larger … (6 comments)