Are you looking for a great deal on a home in Northern Virginia? Of course you are, who wouldn’t be?
The foreclosure and short sale market has died down over the last few years as the Northern Virginia real estate market started recovering. The number of “deals” to be found is shrinking. One of the problems buyer’s face is expectations.
Buyers are hoping to find a home that looks like this
Most Northern Virginia foreclosures are priced close to or even strangely above market value. Finding one that is well below market value means a buyer will be in a competitive bid situation and with the potential of multiple offers the price will rise quickly.
Reality is if you are looking for a home to buy to live there’s a good chance you are going to end up buying a regular sale. It’s your best chance to get a home where you can protect yourself with a home inspection and not find yourself stuck with a money pit. If you are searching for a home in Northern Virginia give us a call at 703-346-2213 to talk about what’s important in your new home.