THE QUESTION FOR THE DAY - ARE FORECLOSURES REALLY A GOOD BUY?

The average list price for foreclosured detached single family homes in Fairfax County, Virginia that closed in the month of September 2007 was $495,135. 

The low list price for foreclosed detached single family homes in Fairfax County, Virginia that closed in the month of September 2007 was $306,250.

The high list price for foreclosed detached single family homes in Fairfax County, Virginia that closed in the month of September 2007 was $1,209,900.

The average DAYS ON THE MARKET FOR the 13 foreclosed detached single family homes that closed in the month of September 2007 was 123 days

Town                  List Price             Sold Price          Subsidy

Alexandria      $341,250.00     $305,000
Alexandria      $414,500.00     $335,000
Alexandria      $369,900.00     $360,000        $15,000
Alexandria      $390,500.00     $390,000
Annandale   $1,300,000.00   $1,000,000        $30,000
Chantilly         $399,900.00     $399,900        $11,790
Fairfax           $389,900.00     $383,150
Fairfax           $749,900.00     $742,000
Falls Church    $452,000.00     $430,000        $12,700
Herndon         $389,900.00     $389,900        $6,000
Lorton            $649,900.00     $619,900        $12,000
Springfield      $432,500.00     $370,000
Springfield      $414,900.00     $392,900        $12,000

Courtesy:  Homefinders.com, Lenn Harley, Broker, 800-711-7988, E-Mail.

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This post has been included in Virginia Information Fairfax County, VA Information

4 Comments on FORECLOSURES IN FAIRFAX COUNTY VIRGINIA - SOLD IN SEPTEMBER 2007

OCT
21
2007
20 Featured Posts
Those are some fascinating numbers.. Most people just don't understand how foreclosures really work. Buying foreclosure property is normally always the bargain it is touted to be. 
11:42am • #1
824,867 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router
Kaye.  You are absolutely right.  The List/Sold prices for these foreclosures are typical of what we see in regular home owner listings sold.
2:23pm • #2
136,703 Points 14 Featured Posts Localism Sponsor Outside Blog
Lenn, if PREFORECLOSURES in the form of short sales are any indication, the banks are NOT, at this juncture, looking at realistic pricing in my area.  Especially if it's an out of state lender that hires an out of town appraiser to compute value.  Resales are a better buy; new homes are pricing right and offering value.
7:36pm • #3
NOV
14
2007
1 Featured Post
How many bank-owned properties sold in September? I hope this wasn't all of them, but interesting numbers none-the-less
9:11pm • #4

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