With the press and television continually talking about Fairfax County foreclosure and REO properties buyers keep asking me where to find the best deal. Yes, there are some houses that are worth taking a closer look at and others that are easy to pass by. However deciding to buy a Fairfax County foreclosure is not as easy as 1-2-3. In fact buying a foreclosure property takes time and patience. It may mean waiting weeks for answers from the various third parties involved in the transaction and it generally means you are buying a home in “as is” condition.
“As-is” means “as-is” and some don’t understand the implication of what that means. As buyer you can inspect the property, many do not have utilities turned on so the inspection can’t look at some of the major systems, but even if you do find a problem the third party owner of the property is not going to make repairs. In addition the usually standard of “broom clean” does not apply either. So if you find a home you like and it still has some of the previous owners belongs in it you will be responsible for cleaning them out.
Now all of this isn’t meant to scare a buyer away from a foreclosure or an REO property, I’ve had buyers who have found a good home at the right price but to let you know right up front that if you decide it is the right property for you then you need to be prepared for the process.
Currently in Fairfax County there are 385 properties listed as REO or foreclosure properties in the MLS. They break down to 153 detached homes, 162 townhouses and 70 condos. There are also another 104 properties identified as “short sales” which means that the owners currently owe more than the mortgage than the home is valued but the mortgage company has not taken the title to the property,
The following is an example list of Fairfax County townhouses identified in the MLS in the areas of Burke, Lorton and Springfield as foreclosure properties.
| Address | Price | Subdivision | Style | BR | BF | BH | LVL | FP |
| 9161 BROKEN OAK PL | $249,900 | KEENE MILL WOODS | Colonial | 3 | 2 | 1 | 3 | 0 |
| 5812 BURKE MANOR CT | $275,000 | BURKE MANOR | Colonial | 3 | 1 | 1 | 2 | 0 |
| 9516 DRAYCOTT CT | $349,900 | CARDINAL GLEN | Colonial | 3 | 2 | 1 | 3 | 1 |
| 5745 OAKSHORE CT | $340,000 | BURKE CENTRE | Colonial | 3 | 2 | 2 | 3 | 0 |
| 5136 HARFORD LN | $300,900 | LAKE BRADDOCK | Colonial | 4 | 2 | 1 | 3 | 1 |
| 5045 HARFORD LN | $295,000 | LAKE BRADDOCK | Colonial | 3 | 1 | 1 | 3 | 0 |
| 10235 QUIET POND TER | $314,900 | BURKE CENTRE | Colonial | 3 | 3 | 1 | 3 | 0 |
| 6002 SCARBOROUGH COMMONS LN | $294,900 | BURKE CENTRE | Colonial | 3 | 2 | 1 | 3 | 1 |
| 6017 BONNIE BERN CT | $334,000 | BURKE STATION SQUARE | Colonial | 3 | 3 | 1 | 3 | 0 |
| 12255 WYE OAK COMMONS CIR | $353,000 | WALDEN AT BURKE CENTRE | Colonial | 3 | 2 | 2 | 3 | 1 |
| 6496 FENESTRA CT #61C | $240,000 | KEENE MILL WOODS | Colonial | 3 | 2 | 1 | 2 | 0 |
| 5972 ANNABERG PL #166 | $286,900 | OAKWOOD COMMONS AT BURKE | Colonial | 3 | 3 | 0 | 3 | 1 |
| 5984 MEADOW BROOK DR | $508,900 | MEADOW BROOK COVE | Colonial | 3 | 3 | 1 | 3 | 1 |
| 5918 ROBERTS COMMON CT | $315,000 | BURKE CENTRE | Colonial | 3 | 2 | 1 | 3 | 1 |
| 6738 MOCKINGBIRD WOODS CT | $316,900 | VILLAGE OF MOUNT AIR | Colonial | 4 | 3 | 1 | 3 | 1 |
| 8305 STATIONHOUSE CT | $290,900 | PINEWOOD STATION | Colonial | 3 | 2 | 1 | 3 | 0 |
| 7730 CAPRON CT | $274,900 | WILLIAMSBURG SQ | Colonial | 3 | 2 | 2 | 3 | 0 |
| 9435 HUCKS BRIDGE CIR | $464,900 | LORTON VALLEY | Colonial | 3 | 2 | 2 | 3 | 1 |
| 8378 OLD VICARAGE ST | $464,900 | LORTON VALLEY | Colonial | 3 | 3 | 1 | 3 | 1 |
| 9833 HAGEL CIR | $283,500 | THE HIGHLANDS | Colonial | 3 | 2 | 0 | 3 | 0 |
| 9608 INVERARY CT | $269,900 | POHICK SQUARE | Colonial | 3 | 2 | 0 | 2 | 0 |
| 9864 HAGEL CIR | $289,900 | THE HIGHLANDS | Colonial | 3 | 2 | 0 | 2 | 0 |
| 7453 LONE STAR RD | $260,000 | POHICK VILLAGE | Colonial | 3 | 2 | 1 | 3 | 0 |
| 8075 SAMUEL WALLIS ST | $429,900 | LORTON STATION | Colonial | 3 | 3 | 1 | 3 | 1 |
| 7820 BELLWETHER CT | $329,500 | SHEPHERD HILLS | Colonial | 3 | 3 | 1 | 3 | 1 |
| 9486 MOOREGATE CT | $229,900 | POHICK SQUARE | Colonial | 3 | 2 | 0 | 2 | 0 |
| 8374 STATIONHOUSE CT | $267,900 | PINEWOOD STATION | Colonial | 4 | 2 | 1 | 3 | 0 |
| 7732 ASTERELLA CT | $375,900 | HUNTER VILLAGE | Colonial | 3 | 3 | 1 | 3 | 1 |
| 8327 MOLINE PL | $309,900 | NEWINGTON STATION | Colonial | 3 | 2 | 1 | 3 | 0 |
| 8351 ROCKY FORGE CT | $294,900 | NEWINGTON FOREST | Colonial | 3 | 1 | 1 | 2 | 0 |
| 8617 BURLING WOOD DR | $341,900 | WEST SPRINGFIELD TERRACE | Colonial | 3 | 2 | 2 | 3 | 1 |
| 7404 GOLDEN HORSESHOE CT | $314,900 | GLENWOOD MANOR | Colonial | 3 | 3 | 1 | 3 | 0 |
| 8404 RED ASH CT | $299,900 | NEWINGTON STATION | Colonial | 3 | 1 | 0 | 2 | 0 |
| 7303 TREETOP HILL LN | $369,900 | OLDE OAK RIDGE | Colonial | 3 | 3 | 1 | 3 | 1 |
| 8400 CEDAR FALLS CT | $199,900 | NEWINGTON FOREST | Colonial | 2 | 1 | 1 | 3 | 0 |
| 8975 OMEGA CT | $341,250 | KEENE MILL VILLAGE | Colonial | 3 | 3 | 1 | 3 | 1 |
| 7238 HILLMEAD CT | $280,300 | SPRINGFIELD VILLAGE | Colonial | 4 | 2 | 2 | 3 | 0 |
| 6388 DAKINE CIR | $390,000 | JAPONICA | Colonial | 3 | 2 | 2 | 3 | 1 |
| 8122 LOVING FOREST CT | $270,000 | NEWINGTON FOREST | Colonial | 3 | 2 | 1 | 3 | 1 |
| 7095 LEEWOOD FOREST DR | $359,000 | LEEWOOD FOREST | Colonial | 3 | 2 | 2 | 3 | 1 |
| 6408 THORNHILL CT | $319,900 | SPRINGFIELD SQUARE | Colonial | 4 | 3 | 1 | 3 | 0 |
| 8502 WESTOVER CT #776 | $329,900 | CARDINAL FOREST | Colonial | 3 | 2 | 1 | 3 | 0 |
| 8174 CLIFFVIEW AVE | $344,900 | FOREST VIEW | Colonial | 3 | 3 | 1 | 4 | 1 |
| 7808 MARCONI CT | $304,900 | NEWINGTON STATION | Colonial | 3 | 1 | 2 | 3 | 0 |
| 7390 STREAM WAY | $300,000 | ROLLING FOREST | Colonial | 3 | 3 | 1 | 3 | 1 |
Before you make the decision to buy a foreclosure property make sure you work with an agent who has experience in handling foreclosures evaluations for third parties and understands the process of making an offer and negotiating with a third party.
If you are interested in receiving information on any of these Fairfax County foreclosure properties or in other areas give me a call. I’ve successfully negotiated with third parties to help my clients buy a foreclosure and REO properties.
Related Articles on Foreclosure property:
The Tale of Three Houses
Virginia Foreclosure Process
Purchase Foreclosure Properties Today
Auctions and Foreclosures In Northern Virginia
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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.
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