There is a familiar and comforting trend starting to emerge in the Prince William County Virginia real estate market.
Homes being sold by homeowners who live in their homes and who have loved them and cared for them over the years and who are now venturing out into the marketplace. In many cases the sellers have outgrown the home or are facing a transfer. In any case...as a Realtor this is a refreshing shift and one that gives me hope the market has bottomed and we are on the way to recovery here in Prince William County.
What's striking though, is how the buyers feel. Lately with the slowing of the foreclosure inventory, buyers are beginning to see more and more what we all have coined during the house hunting process as a Regular Sales. In other words you will see on the MLS in the remarks section Not A Short Sale, Not A Foreclosure.
Buyers I've been house hunting with lately have been apprehensive to even go into an occupied home. It's seems foreign to them.As if they are sneaking around in someones home.This is a new phenomenon for first time buyers in the marketplace who have grown accustom to looking Vacant Homes. Here are a few I've seen recently with my comments and photo's. Take a look Vacant Foreclosed Homes.
In the Prince William County Real Estate Market, most buyers this month are faced with a few foreclosure opportunities, hundreds of short sales and a few Regular Sales.
What is the difference?
Foreclosure Property: Purchased "AS IS" no warranties- condition is less than perfection. Typically SOLD under market values.
Short Sale Property- Agreed Upon Price may not be acceptable by Bank, however you will not know until 60 maybe 90 days down the road if you offer is excepted. We are seeing more and more sell at Market Value. Banks try to get appraised value.
Regular Sale-Homeowners who purchased prior to the Boom Years of 2004-2007 or owners who put a size able down payment down. These folks have enough equity in their homes to Break Even or maybe even see a small amount of equity at the settlement table to help they buy another home.
No Matter Which Type Of Property You Choose, You'll Need A Strong Negotiator
Remember It Doesn't Cost You A Penny More To Work With A Top Producing Successful Realtor like Erick Blackwelder or myself. Listen to this a video we made to help you understand how we work
Contact Peggy James or Erick Blackwelder of Erick and Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
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