foreclosures in norfolk: Foreclosure Inventory in Hampton Roads Stabilizes
- 08/09/11 06:05 AM
The foreclosure inventory for the week ended August 7th increased slightly in both REO and non-REO properties. The REO properties continue to represent a fraction of the overall inventory (about 8%), but there are many good deals available.
There are still ample opportunities to get a great deal on a home, but it's a good idea to act quickly before interest rates get too crazy. Most mortgages now are fixed rate, so locking in today at a reasonable rate could be the smartest move you can make.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 02/20/11 03:15 AM
This week, an increase in non-REO inventory combined with a decrease in REO inventory to bring the counts lower for the seventh straight week of decline. This is the lowest it has been thus far in 2011. Although the REO inventory rose sharply toward the end of 2010, many banks were offering special incentives to consumers and selling agents for sales that closed by 12/31/2010. This was most likely an attempt to have an impact on their year end balance sheets and the market inventory is now returning toward the normal level with slow moves each week.
If you're considering the … (0 comments)
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foreclosures in norfolk: Could Foreclosures Be Winding Down?
- 02/06/11 05:06 AM
In spite of the rumors in national media about foreclosure counts expected to rise this year, for Southside Hampton Roads, that doesn't seem to be the case. We began the year at the high point of foreclosure properties (as a percentage of available inventory) and have seen that number steadily fall each week since. Granted, it's in very small steps, but it's trending in the right direction and has been consistently falling for now five weeks in a row.
If you are considering buying a foreclosed property, you need an agent familiar with the process and the local market. Call today … (3 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 01/23/11 03:19 PM
For the third week in a row, the percentage of inventory on the Southside that is bank owned fell slightly, but not quite as low as it was a month ago. This week, Chesapeake REO inventory as a percentage of available inventory in the city fell 5.7%.
If you are considering purchasing a foreclosure property, call me first to help you find the best value for your needs. You need an agent who is familiar with the REO market and knows how to fight hard to get you the best deal possible. I can be reached at 757-227-9007.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 01/15/11 04:36 AM
For the week ending January 9th, there were a few more foreclosed properties in inventory for Southside Hampton Roads, but as a percentage of available properties, there was a slight decline to 13.91%. Portsmouth had the largest gain with 184 available REO listings.
If you are considering buying a foreclosed property, please contact me for assistance. I have been working with buyers of foreclosed properties for many years, let me put that experience to work finding you an excellent deal on the foreclosure market.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 01/02/11 07:04 AM
In this, my first foreclosure data post for 2011, we have hit a new level of REO's in our local inventory for Southside Hampton Roads. 14% of the available inventory is now an REO listing and approximately 500 non REO listings expired or were withdrawn during the last week of 2010.
For those homeowners who are ready to sell and tired of competing with foreclosure properties, call me for a consultation on what I can do to help you reach your goals. Drick Ward - 757-575-5156 to call or text me for help.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 11/20/10 04:45 PM
Foreclosures in Southside Hampton Roads rose slightly this week as both a percentage and raw count while the non-REO inventory fell slightly. Chesapeake added the most REO inventory with a 6.9% increase and Suffolk lost the most with a 4.1% decrease.
If you are considering the purchase of a bank owned property in Hampton Roads, you need an agent who KNOWS the REO market. Call Drick Ward today for more information.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 11/07/10 02:25 AM
This week REO's rose slightly and non-REO's fell slightly in terms of the number of properties on the market. Of the properties under contract, slightly less than 25% were REO's although REO's represent just over 11% of total available properties. Suffolk had a 9% increase while Virginia Beach was a close second with 8.8%. Portsmouth increased their REO inventory by 4.7%, it was 2.9% for Norfolk, and 1.5% in Chesapeake.
If you're thinking of buying a foreclosed property in Hampton Roads, you need an agent who is familiar with the REO inventory and knows how to effectively negotiate your purchase. … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 10/24/10 05:45 AM
The banks halting foreclosures for about a week had little, if any, effect on the Hampton Roads market. In the past week, there was a slight increase in REO inventory as a percentage of overall market inventory with Suffolk gaining a surprising 9.5% (but that's only an increase from 95 to 104 REO properties.) REO properties continue to represent just over 26% of all pending sales which would seem to indicate the REO's are attracting more than their fair share of buyers since they only represent 11% of the inventory. However, that number may be unrealistically high because a foreclosure generally … (1 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 09/26/10 05:32 PM
The past week gave us a slight increase in REO properties on the market in Hampton Roads but it still represents about 10% of the overall market of available properties in Southside Hampton Roads. Chesapeake had 2% more and Virginia Beach had 1% more than the prior week. Norfolk remained constant as a percentage, gaining only one additional REO property, while Portsmouth and Suffolk each lost 2% of their REO inventory.
If you are facing financial difficulties and want to know about your options for avoiding foreclosure, call today for a confidential consultation so we can examine your options and you … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 09/19/10 04:38 AM
Foreclosures dropped slightly this week, but remain 10% of the overall properties currently on the sale market. Chesapeake (-4%), Suffolk (-3%), and Norfolk (-2%) lead the declines while Protsmouth and Virginia Beach each posted 2% gains. I dare not say we have turned the corner, but if the trend continues that Hampton Roads has only about 10% of the sale market represented by REO's then it's a good indicator that we did not do as poorly as many other parts of the country.
If you are considering buying a home in Hampton Roads, whether you want a foreclosed property, new … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 09/12/10 06:21 AM
We have hit a new high for the year, but fortunately are not in as rough shape as some parts of the country. This week, REO's represent 9.97% of the available properties on the market. Norfolk and Portsmouth each had a 4% increase in their REO inventory while Chesapeake and Virginia Beach edged up 2% and 1% respectively. Only Suffolk had fewer REO's than the prior week posting a 3% decrease to 93 REO's.
If you are considering buying a foreclosed property in Hampton Roads, be sure your agent knows the inventory and has experience getting banks to accept offers that … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 09/04/10 07:04 PM
This week we have a new high in Southside Hampton Roads REO inventory with Virginia Beach and Norfolk gaining 4% and 3% respectively. Suffolk lost 7% and Portsmouth lost 4% for an overall slight increase of only 1% for Southside. With 9025 non-REO listings and 984 REO listings available on the market, the foreclosures still represent just under 10% of total market inventory.
If you are considering purchasing a foreclosed property, you need an agent who is familiar with the market and inventory. More banks are doing cosmetic repairs in hopes of getting a faster sale and higher price for their … (2 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 08/29/10 08:02 AM
The past week brought a 2% increase in available REO inventory with a total of 975 REO properties on the market and 9146 non-REO properties on the market. It seems Hampton Roads has been much more fortunate than many other areas of the country where the majority of available properties are foreclosures. It's nice for us to have less than 10% of our inventory as foreclosures because it gives a chance to the plain vanilla traditional sellers rather than ripping the market apart with bargain basement foreclosure overkill.
If you are considering buying a foreclosed property, you deserve an agent … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 08/23/10 05:59 PM
In the past week, foreclosure inventory edged up slightly, still off from the highs several weeks ago but we may not yet be out of the woods. REO inventory in Suffolk fell the most with 8% fewer REO properties available than the prior week. Conversely, Norfolk had an 8% increase in available REO inventory.
If you are considering purchasing a foreclosure property in Hampton Roads, you can't depend on national data - you need someone with LOCAL experience and a keen eye for identifying the best values. Call today to see how I can help you.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 08/08/10 08:49 AM
This week, there are two percent fewer available foreclosure homes on the market than last week. Overall, in Southside Hampton Roads, the foreclosures represent 9.38% of the available homes on the market. That's slightly lower than last week's high of 9.6%. Although it's too early to tell if this means we've rounded the corner, it is encouraging that our market is not as overloaded with foreclosures as many other places across the country.
If you are thinking of purchasing a foreclosure property in Hampton Roads, call today for information that could save you thousands and prevent you from making a … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 08/01/10 09:09 AM
This week, an overall 2% increase in available REO's for the Southside Hampton Roads market was lead by Portsmouth, which posted a 5% gain by moving from 132 available REO's to 138. Virginia Beach and Chesapeake had 4% and 2% increases, respectively while Norfolk (-2%) and Suffolk (-1%) had modest decreases.
If you are considering a purchase in Hampton Roads and foreclosed properties are on your list, you need to call an agent familiar with the foreclosure market who can guide you through the complex maze of properties. Not all in the foreclosure market is as it appears and you need … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 07/18/10 03:27 AM
Overall, Southside cities in Hampton Roads saw a 3% increase in available REO listings this week which was created by across the board gains with the exception of Chesapeake, which lost 5%. Virginia Beach had the greatest increase at 6% brininging the city total to 301 REO properties on the market. With 9186 non REO properties on the market in Southside Hampton Roads, and only 910 REO's, the REO market continues to represent less than 10% of available inventory.
If you are considering purchasing a foreclosed property or need information on how you can prevent your home from becoming a foreclosure, … (0 comments)
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 06/13/10 04:42 AM
In the past week, our local inventory on the Southside shows 2% more available REO properties. Virginia Beach had a 6% increase in available inventory while Suffolk and Chesapeake posted modest 3% gains. Norfolk and Portsmouth both have 3% fewer available properties than last week.
If you are seriously considering purchasing a foreclosure property, you need an agent who is familiar with the market and inventory in each of the cities you will be considering. Contact Drick Ward for assistance in all of your real estate needs in North America.
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foreclosures in norfolk: Foreclosures in Hampton Roads
- 04/18/10 09:38 AM
This week Suffolk posted the largest increase in available REO's with 12% (84 available, up from 75 the prior week) and Portsmouth had the largest decrease in available REO's with 8% (97 available, down from 105 the prior week).
If you are looking to buy a foreclosure property (REO) you need an agent familiar with representing buyers in REO negotiations and knowledgable on the local market. Call Drick Ward today to get started on your home search. If you want to take advantage of the $8,000 tax credit, you need to be under contract by 4/30 so don't delay.
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The foreclosure inventory for the week ended August 7th increased slightly in both REO and non-REO properties. The REO properties continue to represent a fraction of the overall inventory (about 8%), but there are many good deals available.
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