A number of properties listed as foreclosures in Fairfax County are homes that have been built in last few years. Lorton which has had significant growth in the last five years is one of the those neighborhoods. Since these homes are newer many of them are still covered by the builders warranty and have some of the upgrades today’s buyers are looking for. In fact some of these homes have never been lived in having been purchased by speculators who hoped to buy and flip.
Lorton has come a long way from the days when it was only known as the location of a federal prison complex. Today you will find the Lorton Marketplace with a Shoppers Food Warehouse, Lorton Station with multiple restaurants and a VRE station. With the new South County High School, Lorton Workhouse Arts Center and Laurel Hills Golf Course the area has become a vibrant community.
So if you are considering a foreclosure property in the area you may want to take a look at what the homes in Lorton have to offer.
|9074 FUREY RD||$465,000||$520,000||LAUREL HIGHLANDS||Colonial||3||3.5||3||1|
|7740 GRANDWIND DR||$489,500||$715,000||LORTON TOWN CENTER||Colonial||3||3.5||3||1|
|8228 LAUREL HEIGHTS LOOP||$474,900||$697,000||LAUREL CREST||Colonial||4||3.5||3||1|
|8140 GILROY DR||$484,900||$674,298||LAUREL HIGHLANDS||Colonial||4||4.5||3||1|
|9096 PURVIS DR||$505,000||$742,845||LAUREL HIGHLANDS||Colonial||4||3.5||3||1|
|9665 HAWKSHEAD DR||$564,500||$840,000||VILLAGE AT LORTON VALLEY||Colonial||4||4.5||3||0|
|8107 GILROY DR||$579,900||$725,990||LAUREL HIGHLANDS||Colonial||4||4.5||3||1|
|8354 MIDDLE RUDDINGS DR||$589,000||$495,606||VILLAGE AT LORTON VALLEY||Colonial||4||3.5||4||1|
|8110 BLUEBONNET DR||$850,000||$734,865||LAUREL HILL||Colonial||5||4||3||1|
Remember that deciding whether to buy a foreclosure property in Fairfax County is not as easy as walking in to the house and saying “I’ll take it.” Purchasing foreclosure properties requires more time and negotiation with a third party than buying a resale home. Third party mortgage holders, banks and mortgage companies, are willing to negotiate but they are not taking pennies on the dollar. Submitting an offer for half of the value of the home is not going to be taken seriously and could reduce your chances to buy the property you really want.
The third party mortgage holders expect a buyer to submit a letter from a reputable lender stating they are qualified to buy the home. Some properties, for example those listed by Countrywide Mortgage or Wells Fargo require that you are qualified according to their specific guidelines and by one of there mortgage consultants.
So as you weigh your options and research whether a foreclosure property may be right for you, make sure you have talked to a lender so you understand and are comfortable with your financial situation. If you need assistance in connecting with a lender let me know and I will be glad to pass on some names for you to contact.
Before you make the decision to buy a Fairfax County foreclosure property make sure you work with an agent who has experience in handling foreclosures evaluations for third parties and understands the process of making an offer and negotiating with a third party.
If you are interested in receiving information on any of these Fairfax County foreclosure properties or in other areas give me a call. I’ve successfully negotiated with third parties to help my clients buy a foreclosure and REO properties.
More information about Lorton Virginia
More information about purchasing Foreclosure properities
©2008. All rights reserved. Cindy Jones
As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.
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