prince william county: 2010 is here, where will our local housing market go?
- 01/06/10 11:08 AM
The past year has been challenging for the real estate market in Northern Virginia. We went from a flurry of foreclosure properties to a very limited inventory. As home prices fell and many found themselves underwater, it became difficult if not impossible to sell their homes. A large majority of the homes in Prince William County were found to be short sales. A short sale occurs when the seller's lender, due to some sort of hardship, allows him to sell for less than the full amount owed. Buyers hurried to compete on these homes, only to wait for up to 6 months … (0 comments)
prince william county: Housing stats through November
- 12/17/09 02:06 AM
Northern Virginia Home sales in Northern Virginia have remained on pretty much a flat line the past few months. With inventory dwindling and prices returning, the spring market should bring much more robust activity. From November 2008 - November 2009, in Prince William County the average sold price increased $30,000 or 14.4%. Fairfax County had no measurable change. Of course, prices are 56% less in Prince William as a result of soaring foreclosures the past few years. This current trend of price improvements should help be aided by the tax credits that are due to expire in April 2010. Affordabilty is … (0 comments)
Homes in Prince William County, Woodbridge, Lake Ridge,Dumfries, Montclair, Springfield, Alexandria, Lorton, Manassas … (0 comments)
prince william county: Lake Ridge Virginia is getting out of the distressed business
- 05/07/09 07:29 AM
Looking at Lake Ridge, we may be turning a corner. Our zipcode of 22192 has currently listed 75 Detached single family homes available. Of those, only 26% are foreclosures or short sales. Townhomes are a bit higher at 55%. This is remarkable based on what we saw throughout the past two years. The word is getting out and banks are working with people. With a total of 143 properties on the market in Lake Ridge we are now at only 2 months of inventory. Maybe it is a good time to sell a home. It certainly is a great time to … (1 comments)
prince william county: Manassas and Woodbridge lead the way to more home sales
- 04/30/09 06:47 AM
WOW! A 200% increase in the number of sold homes in 1 years time. Manassas Park is coming back! We have to assume that it is also partially due to the sales units coming more from the Blooms Mills area as the Manassas Drive coridor saw it's flood of forclosures early on. Also, all 3 zip codes in Woodbridge are atop the list for largest improvement in sold units over the past year.
It's looking as if Prince William will see an early recovery due to it being first hit. Laura Evans Prudential Carruthers Realtors 703-508-1091 Laura@VAsells.com
… (1 comments)
prince william county: Housing Inventory is looking much improved. Will it stabilize in the Washington DC areas this year?
- 04/03/09 03:41 AM
We have been measuring the absorption rates since January of 2007. As you can see, it appears that the bottom HAS past. The absorption rate is the number of homes for sale divided by the closed sales. Therefore, how much of the housing inventory is ABSORBED. This chart compares Fairfax County to the Prince William and Fredericksburg areas. As you can see, Prince William county (which included Manassas and Manassas Park), took over in September 2008, and never looked back. That is partially due to the drastic drop in prices, high foreclosure rate and yet a reasonable proximaty to Washington DC. … (0 comments)
prince william county: How will the Housing package help in Prince William County / Lake Ridge, Virginia?
- 03/06/09 03:00 AM
The housing plan appears to be set to roll out to the lenders. where does this put us here in Prince William County. The plan is aimed to help 9 million homeowners. The problem is that these homeowners at risk of losing their homes must have a home that is worth no more than 105% of the loan value. With the pricing drops in our area, it is unlikely to assist many.Long standing residents of Lake Ridge do not fair any better than in other areas of the County. From January 2006 to January 2009, the median price for sales in … (0 comments)
The past year has been challenging for the real estate market in Northern Virginia. We went from a flurry of foreclosure properties to a very limited inventory. As home prices fell and many found themselves underwater, it became difficult if not impossible to sell their homes. A large majority of the homes in Prince William County were found to be short sales. A short sale occurs when the seller's lender, due to some sort of hardship, allows him to sell for less than the full amount owed. Buyers hurried to compete on these homes, only to wait for up to 6 months … (0 comments)
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