Where and why is this happening?
Where it's happening an easy question to answer - in the close-in older sections of Alexandria, Arlington, Falls Church and Fairfax County.
The "why" is also easy to answer. The increasingly congested Northern Virginia highways and fuel costs have encouraged some builders to purchase a small, older home in a close-in location, demolish it and build a much larger home than the existing homes in the neighborhood.
As my husband and I travel through the area we observe that there seem to be more of them that are for sale than are occupied. Apparently, home buyers in the high end price range recognize that reselling one of these may not be a simple task. And yes, there are some available as foreclosed properties - they never sold.
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