The Inventory of Foreclosure properties has stabilized in Southside Hampton Roads at about 8%. This means, that REO or Government Owned properties during any given week thus far this year has been roughly 8% of the available inventory on the market for that week. The percentage started the year higher and steadily fell until the past month when it leveled off, dipped slightly and reached what appears to be a point of stasis at around 8%.
If you are considering a short sale as a means to avoid foreclosure, you need an agent who is familiar with short sales, the short sale process, the local market, and getting to the closing table on short sale listings. I have had excellent results and would be happy to speak with you more about your specific needs.