Distressed properties in the Winchester, VA area are holding steady at 17.3% of total active listings for the month of October 2012. The number has barely moved since May 2012.
The biggest difference in the October and January numbers is in the
"what kind of distressed property" category. The beginning of 2012 was still showing the effects of the REO wave that passed through the community. As the year has progressed, REOs have declined and short sales have increased.
Winchester, VA currently has 494 active properties. Of that number, 85 are distressed properties. The distressed properties break down into 55 short sales and 30 REOs. The volume of distressed properties has changed less than 1% in 5 months. That's a good indication that market has stopped progressing vertically and is starting to show a horizontal movement.
The presence of 17.3% distressed properties provides buying opportunities for bargain shoppers. It doesn't matter if it's an REO or a short sale, bargains are available for every budget. When you're ready to jump into the market, give your Cornerstone agent a call, and let's make something happen.
Distressed properties in the Winchester, VA area are holding steady at 17.3%