Real estate sales in Oakdale Crossing have mirrored much of the City of Winchester throughout 2012.  This beautiful neighborhood has seen its share of foreclosures and short sales, but overall, the majority of it's 2012 sales were fair market sales.  That's an improvement from the years since the market decline in 2008.

Of the 12 houses sold in Oakdale Crossing in 2012, 66% were fair market sales.  There were 2 short sales and 2 foreclosures sold.  That's encouraging as we enter into 2013.  The neighborhood has been a very desirable place to live because of the beautiful homes and because of its proximity to just about everything. 

When the market crashed in the Fall of 2008, there was wide concern within the Winchester real estate market that falling real estate prices would bring about neighborhood dis-repair and even blight, but the owners in Oakdale Crossing continued to maintain their properties.  They didn't let a market reversal drag their neighborhood down like so many do in tough economic times.  The owners kept their lawns mowed, their homes maintained and even though values dropped with all other local real estate, they didn't collapse to the level of some in the Winchester area.

Oakdale Crossing is on the bright side of the economic recovery.  Homes are still highly coveted there, and it is still a beautiful and desirable place to live.  If you're thinking about buying or selling in Oakdale Crossing, give your real estate pros at Cornerstone a call and we'll make that happen for you.

The Winchester, VA real estate market is through the first third of November.  As of the 10Th of November, the local Winchester / Frederick County market has 478 properties available.  Eight percent of those properties were added in the first ten days of November.  Of the 34 properties added since November 1st, 33% are distressed properties, with the majority (9) being REOs.

The current market is continuing it's overall trend of 17.3% distressed properties.  Short sales make up 47 current listings, while foreclosures (REOs) make up 37 properties.  These types of sales have changed places since the beginning of the 2012.  Short sales are taking a more prominent place in the local distressed market. 

The rise of REOs during the first ten days of November is a trend to be monitored closely.  Does it signal a return to the previous wave of foreclosures in the area, or is it simply an anomaly in the market.  Time will tell.  Which ever way it goes, strategies are likely in need of adjustment for buyers and sellers. 

The Oakdale Crossing, Winchester, VA, did not see a great deal of activity during the month of October.  There were no new listings brought online, and pending sales were 2 for the month.  No sales were closed in October.  

Oakdale Crossing has been a highly desirable subdivision on the east side of Winchester.  The low number of properties in play in Oakdale Crossing may be a sign that the neighborhood has recovered or is recovering from the economic downturn of September 2008.

The neighborhood is near numerous major highways, shopping and schools.  It has been a great place to buy since it's inception 18 years ago.  The low inventory of available properties is a good sign that home prices in the neighborhood will be rising in the near future. 

If you're ready to sell in Oakdale Crossing, give your Cornerstone agent a call.  The low inventory has made your house more valuable.  It might be the perfect time to sell. 

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%

I've had a number of situations recently where I had to step in as an advocate for my clients, and I realized in the process that we are advocates for our clients.  We're not just selling houses, we've been enlisted to make sure our clients get across the finish line successfully.

Yesterday, I received a HUD prior to closing that had numerous errors.  My attorney and I responded to the closing attorney asking for corrections. He corrected a few mistakes, but then he actually added new ones.  It would be easy to read over the HUD to make sure the original mistakes were corrected and then sign off on it.

The returned HUD added expenses to my clients side of the closing.  The expenses belonged to the buyers.  It was sent back for corrections, and in a little while it came back with mistakes corrected.  Again, it had new mistakes.  The attorneys had added additional fees to the sellers side. 

One more time, it was sent back for corrections.  Finally, it came back correct.  As a Realtor, you are the advocate for your clients.  I don't think it would be too far off to say that the average buyer/seller doesn't really pay a lot of attention to the HUD.  At the end of the closing, they would write a check or take a check and have no idea if it was correct.

As an advocate, you can make sure that simple mistakes don't get passed on to your client.  This holds true from the listings phase, buying phase and to the closing phase.  Your expertise should be the buffer between your clients and an expensive mistake that no one caught. 

The Winchester, VA real estate market has made great strides in 2012, but it is still recovering from the real estate market collapse of 2008.  There are currently 504 properties activity listed in the $30K-$600K range.  Eighteen percent of the current available listings fall into the distressed market.  That number has held constant since May 2012.

The market breaks down like this:

The majority of distressed properties reside in the $100,000 - $300,000 range.  In that price range, there is plenty room for investors or home buyers to find good opportunities at discount prices.  The upper end of the current available listings are mostly fair market listings. 

The range of available listings makes sure that there is something for everyone.  No matter what your price range, Winchester, VA has a home for you.  It doesn't matter if you want to buy a short sale or an REO, or if you want a fair market property, we have it all.  When you're ready to jump into the local real estate market, give Cornerstone a call.  We can help you find the best deal at the best price.