Alexandria Virginia Foreclosures -
October 2012 Market Report
Alexandria VA Foreclosures for Sale - Whether you love 'em or hate 'em, foreclosures are an important part of the real estate market. They are always part of the market, even during the good times.
Many times, first-time buyers and investors begin their home search with foreclosures, because of below market pricing. True, Alexandria VA foreclosures may present a great opportunity, but according to the recent statistics, the numbers are quite small in comparison to the other homes for sale.
Here are the statistics for the month of October 2012 for the City of Alexandria:
Looking at the Year-to-Date sales, you'll see that number of foreclosures in Alexandria City have remained below 20 all year, peaking at 14 in March. Even in June, where the highest number of homes sold was 240, there were only 11 bank owned foreclosures that sold. In October 2012, there were six bank owned foreclosures sold in Alexandria City.
Are Alexandria VA Foreclosures Sold Below Their Original Asking Price?
Well, the banks are not exactly giving them away, but as you can see, the Alexandria VA foreclosures do represent a 'better deal' than the traditional sales. In October 2012, bank owned foreclosures sold at 89.12% of their original asking price, compared to 97.15% of the traditional sales.
If you're thinking about selling your Alexandria VA home, it's a good idea to understand the foreclosure activity in the local real estate market. In reality, many buyers treat all homes for sale like a foreclosure, initially expecting deep discounts which result in low offers. Foreclosure sales also affect property values, so knowing when any home is sold in your neighborhood is a good way to stay current on the values in your area.
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Buying or Selling Real Estate in Del Ray or Old Town Alexandria VA? Looking for short sales in Alexandria Virginia? Contact Tamara Inzunza, Associate Broker of RE/MAX Executives to list and sell your home, or purchase a new home. I specialize in real estate homes for sale in the beautiful Alexandria VA communities of Old Town Alexandria, Del Ray, Kingstowne, and Manchester Lakes including condos, townhomes, and single-family homes for sale.
Call me at 703-623-8759
Be sure to visit my website where you can Search MLS Listings of ALL Homes For Sale in Alexandria VA at www.MovingToNova.com/. If you're thinking about selling and would like to know how much your Alexandria VA home is worth, visit http://www.confidentialcma.com/ for a complimentary market analysis of your home.
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