If you thought you missed a great deal on a foreclosure in Winchester, VA, 
you would be wrong. Recent improvements in the local market have not eliminated the overall presence of foreclosures. The Winchester /Frederick County area currently has 38 listed foreclosures.
Of that number, Winchester City holds 7 of those foreclosures, and Frederick County holds the remaining 31 foreclosure properties. Prices range from $74,900 - $359,900. The high and low end foreclosures are in the Frederick County area.
An interesting phenomenon is starting to appear in the local foreclosure market. These properties are starting to sit on the market for longer periods of time. The average days on the market for both city and county foreclosure proprieties has risen to 170 days. The longest DOM comes in at an astounding 1,043.
What that tells me is that banks are not giving these properties away, contrary to popular belief. Of course there are those that sell in 1 day. That is the shortest and most recent number. That was actually one of my foreclosure listings. It was on the market for one hour and sold. But, the trend is not that short. The trend in foreclosure days on the market is growing.
The properties currently listed range in age from 3 years to 102 years. Sizes also vary widely. The smallest property has 960 square foot, and the largest currently listed has 3,193 square feet. Neither of these two properties is the highest or lowest.
The good news is that bargain shoppers still have options in the foreclosure and distressed property market. The bad news is that banks are expecting more, and they are willing to wait a little longer to get it. So, if you're in the market for a foreclosure in the Winchester, VA area, you have options, but be prepared to negotiate.
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