While researching property information for an investor interested in buying property in Prince William County they asked about the Rollingwood Village neighborhood close to Potomac Mills Mall. On the surface the neighborhood has a lot of good qualities, close to major shopping, commuting options and recreation opportunities. It should be high on the list as a great investment and potential rental property.
However, it is also one of the neighborhoods that are showing the damages of the sub-prime mortgage mess. Currently there are 12 townhouses on the market and 11 of them are either foreclosures or short sales. Looking at the detached homes for sale a buyer will find 8 homes for sale and 5 of those also are either short sales or foreclosures.
No matter how great the community amenities the odds are currently stacked against the neighborhood when it comes to pricing and stability. The following chart shows how far the detached home prices in the neighborhood have risen and fallen in the last 5 years. The average current list price of listings in the neighborhood is $260,000 indicating that the downward trend in the neighborhood is not over yet.
Detached Home Sales 2004-2008
| Year | Total | Avg List Price | Original List | % of List Price | Sold Price | Subsidy | Net | DOMM |
| 2008 | 15 | $287,507 | $307,095 | 93.62 | $289,109 | $6,797 | $282,311 | 69 |
| 2007 | 8 | $405,338 | $411,080 | 98.60 | $393,188 | $7,948 | $385,240 | 29 |
| 2006 | 10 | $497,298 | $517,764 | 96.04 | $486,190 | $13,047 | $473,143 | 66 |
| 2005 | 16 | $438,494 | $449,431 | 97.57 | $440,303 | $3,625 | $436,678 | 21 |
| 2004 | 22 | 371977 | $373,986 | 99.46 | $372,327 | $1,082 | $371,244 | 14 |
As with any home purchase whether it is for investment or a home to live in there are other factors to consider besides price. Schools and crime rates in a neighborhood also need to be considered. You can zoom in on any of the markers on the map and locate Rollingwood Village at the corner of Minneville and Smoketown Rd.
If you are thinking about buying a property in Prince William County as an investment or your new home give me a call at 703-346-2213. Let's sit down and talk about your goals and determine whether now is the right time for you to make a move. I'll make sure that you have all of the information necessary to make a fully informed decision.
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