"48% of the Current Available Resale Inventory in Woodbridge Virginia FOR SALE this week, is owned by "Regular Owners!" This is the first time we have seen this happen since the days of 2005 and 2006. This is great news for everyone.
So let me repeat that " Right now the Woodbridge Virginia Real Estate Market has more "Regular Owner" homes for sale than Short Sales and Foreclosures! "
What is a Regular Owner Listing: these are homes that are not being sold by short sale, they are not in foreclosure and in most cased they are occupied homes that smell good, look good and where Realtors are once again back to good old fashion real estate. We list a sellers home for sale, buyer agent brings the listing agent an offer, then we go into negotiations, then ratfication, then inspections and then settlement. The process of buying and selling a home in a normal market is between 30 and 45 days from start to finish.
Take a look, here is snapshot of the Woodbridge Virginia real estate market today:
- 227 Homes have gone Under Contract in the past 30 days!
- 16 Homes Have Settled in the past 30 days!
- There are only 279 Active Homes For Sale in Woodbridge today.
- 48% of those are Regular Owner Resale Homes!
- 32% of the Homes Currently For Sale are Short Sales
- 15% of the current inventory are Foreclosed/Bank Owned Homes.
"Ahh...I feel a wonderful sense of calm thinking that the market may be heading back into a normal market soon."
For the past few years the Woodbridge Virginia real estate market had been driven by abandoned foreclosure and sellers needing to sell by Short Sale because they owed more on their home than it was worth.
All I can say is "it's about time! It has been a long grueling three years for all the homeowners who did not want to compete against foreclosures and short sales. We're not totally out of the woods yet, however we are heading in the right direction.
This is awesome news, not only for sellers but for buyers as well.
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Sellers will not be competing against as many foreclosed and distress sales.I recently wrote a post about how the Prince William County Virginia real estate market is suffering from a lack of inventory.
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And home buyers in the market right now have a very good chance of finding a home that can settle by Jun3 30th, 2009. Just remember you must be Under Contract by 4/30/2010 in order to secure the Home Buyer Tax Credit.
Are you curious what homes are available right now in the market place? Well at Erick and Company we break it down on our website to Regular Owner Sales, Approved Short Sales and Foreclosure Opportunities. You pick which list you want, just click on the blue box below.
If you are thinking or Buying or Selling A Home give me a call, I will be delighted to my knowledge to work for you and help you with all your real estate needs.
Don't hesitate to give me a call 703-851-3085 or contact me by email .
Erick and Company is a local real estate company that services Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle Virginia area's . No matter whether you are relocating to the area, or transferring out we can help. Contact us for all your real estate questions and needs. Note: if you need help selling your home by short sale don't be shy we have helped many local homeowner get short sale approval from their mortgage company. We are Realtors...we can help.
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