First time buyers are rushing into the market after two years, sitting on the fence.
Two years ago, a nice first time buyer home were priced around $300,000 - $350,000.
Those same homes are now priced around $200,000 - $225,000.
Our website is updated daily with a list of affordable homes, bargains, and foreclosures.
A significant number of homes in the $200,000 - $225,000 range are foreclosed homes. Banks are pushing prices down in order to beat the competition and dump those homes from their long list of money-losing liabilities.
Don't expect to get a $200,000 home in model home condition.
Most of the foreclosed properties I see with my customers have nasty, smelly, stained carpet. Most are crying out for a fresh coat of paint. The foreclosed owners sometimes strip the appliances, ceiling fans, light fixtures, out of those homes to sell for much-needed cash.
Now and then, my buyers come across that one home out of twenty that is sparkling clean, freshly painted, and in pristine condition. They buy them... fast.
As for short sales, forget them. Don't bother.
I call short sale listings "fake listings". Nationally, less than 5% of bona fide offers placed on short sale homes are actually accepted by the banks.
We keep a comprehensive list of banks that WILL accept a short sale.
When a prospective seller asks us to sell their home for less than their mortgage balance (that's a short sale), we first ask them for the name of their mortgage company. If their mortgage company is on the list, we help them. If their mortgage company is not on the list, we tell them the bad news, and suggest that they find some way to work an arrangement with the bank. Most pack up and let the bank foreclose.
Opportunities Are Everywhere...We Can Help You Find Your Dream Home.
Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.
Equal Housing Opportunity
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