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Short Sales in Winchester, VA - March 23, 2012

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119

The short sale market in Winchester, VA is beginning to show signs of a Signsslight decline.  When the real estate market took a hit in the Fall of 2008, REOs exploded onto the scene as the prominent available listings.  As the the market has shifted back and forth, REOs are declining and short sales are the primary distressed properties

Now, short sales in Winchester, VA have declined slightly, but they still make up 10% of the overall available listings.  Between Winchester City and Frederick County, VA, distressed properties make up 17% of overall available listings in this third week of March.  The overall distressed listings in the Winchester/Frederick County are have declined 1.2% in the past week.  That's a good sign.

Up arrowThere are still opportunities available to buy a short sale or an REO at a great price, but they are slowly becoming a minor part of the local market.  Don't wait too long.  You might miss a great opportunity.  If you've been planning to take advantage of the high number of distressed listings in the Winchester, VA real estate market, you may want to call your Cornerstone Business Group, Inc., agent soon.  The tide is shifting, and before you know it, it will be a seller's market again.


Short Sales in Winchester, VA - March 2012


Comments (2)

Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Mike it is quite interesting to see the percentage of short sales in your area as compared to ours - which is about a 50% difference.  I look forward to the day when we've at a 10% short sale point.  Good market report!

Mar 23, 2012 09:24 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Anna, every time I do one of these I get a little more surprised.  The distressed properties are shrinking at a pretty good clip.  Yea!  

Mar 23, 2012 09:28 AM