Lake Ridge Virginia Real Estate Help For Sellers and Buyers

Just yesterday, a Lake Ridge Virginia homeowner asked me when the real estate market was going to improve enough that he could sell. Turns out his perception of the real estate market was skewed a bit. He just assumed the local real estate market conditions were bad since he keeps seeing those yellow signs in the median strip on weekends advertising Lake Ridge Foreclosures.

Imagine his surprise when I said, currently there are only 16 Foreclosures For Sale in all of the 22192 zip code area.

Turns out, I uncovered that not only could he sell, he could sell for a profit. I think is one person who slept well last night just my dog CJ.

Needless to say, he was so relieved.

That is just one more example of never assume. While you are stressing and worring, you just might  learn that home values are up enough that you can sell. Just maybe the dream you have had rolling around in the back of your mind....can be put into action.

Learn what your home is worth- contact me and I will do a quick market snapshot for you.

People ask me all the time "how do I find real estate foreclosure homes in the Woodbridge, Lake Ridge Virginia area." My answer is simple, we can sign you up to receive automatic alerts. Then every time a new foreclosure MLS Listing is entered into the Realtors multiple listing service, you get notified even before I do. It's that simple. So share with me what you are looking for and I will immediately set up your custom search.

Currently today 1/12/2012 the Woodbridge Virginia area has over fifty(50) active foreclosure homes for sale.  The lowest price condo townhouse at $63,000 and the highest is a brick front NVR built single family home in Dawson Landing with over 3200 finished square feet and a three car garage offered at $449,000! So there are some deals out there. 

Things you need to know:

• All foreclosures, bank owned homes are sold "as is"
• In some cases utilities are not on and further damage is being done- "Sumps not on, pipes freeze, vandalism" It's happens.
• Buying a foreclosure home is not for the faint at heart. Many will require at minimum new flooring, a fresh coat of paint, sometimes new appliances and drywall repair. ( many are missing appliances and wall speakers)
• Banks typically have done the appraisal process and know the fair market value of the property. In many cases we see homes that were previously under contract pending short sale approval at a lower price, only to learn that sale fell apart, the bank foreclosed and now the home is being sold for more.

So that brings me to the next point. If you are a flexible patient buyer, making an offer on a short sale home may be the way to go. Short Sales handled by experienced short sale agents typically go to settlement. A short sale can take up to six months for the homeowner/seller to acquire short sale approval from their bank. That said, these homes in many cases have someone still living in the homes. The homes are still sold "as is", you are less likely to run into catastrophic issues after settlement. ( at least that has been my experience.)

Now, if you are relocating the area, or you want a move-in ready home you will need to start early this year. Why? Resale inventory is very low here in the Woodbridge, Lake Ridge and Manassas Virginia area. In fact it is worse in Alexandria. This week I have been assisting buyers who are looking for a single family home priced between $350,000 and $500,000 and let me tell you the selection is dismal at best. They are in shock! Worse, they put an offer in on a property and another buyer won the bid. It happens.

Have you ever wondered how other  home buyers in Fairfax County Virginia are finding and negotiating on  Foreclosure Homes before you even see them? I know it is frustrating. The market is FAST!  Don't you just wish someone would send you The LISTS so you could sift through them quickly to see if any peek your interest.

Well, get ready to smile.

Erick and Company understands the pain and frustration that Home Buyers are facing in today's real estate market. That's why we have staff members who scrub the MLS Database daily in search of the newest FORECLOSED,and REO Propertiesas well as any Short Sales that have a status change to APPROVED SHORT SALES.

 Now here's the best news. You can access these lists for FREE!

Erick Blackwelder and I work as Buyer Agents. Tell us what you are looking for and we will find it. Let's get started today. 

 ***********************************************************************************

Call or Contact Peggy James- Realtor® - Exit 1st Choice Realty ... Contact Peggy Now Visit Our Website: www.erickandcompany.com Erick And Company 14029 Crossing Place, Woodbridge, VA 22192 My Direct #(703) 851-3085 or Office # (703)590-2252 Get directions  Write a review More information »

Every week we are commited to publishing the up to date weekly Foreclosures Lists for our clients.

Click on the banner below to access Foreclosures On MLS this week.

We work as Buyers Agents- Give us a call if you would like to SNAG one of these homes!

Erick Blackwelder or Peggy James  of Erick And Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 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, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany,  Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.

Peggy James- Your Neighborhood Realtor

Buying a Bank Owned Home is not hard and you don't need a truck load of money. What you do need is an experienced Realtor who can help you. I've lived in this area for decades, and know the area well. I can help you sort out the good buys from the not so good buys, my goal is to make the process easy and fun.

However, if you  decide to start looking for Foreclosures and Bank Owned Homes on your own and you want to wait  until you find the home you like....be prepared for a very Stressful few months!  Why? Well let's assume you do the following.....      

1. Seach the internet until you find a home you like and then...                                                                                              
2. drive bye, walk around the home
3. you call the number on the sign and wait for a return call ( days can go by...the listing agent neve calls you back)
4. you call and make a verbal offer on the voice mail ( all offers must be in writing!)
5. you peer in the windows, like what you see, fall in love
6. lay awake wondering if you really can afford it
7. decide to write an offer
8. sit with an agent and your write an offer without regard to what others have sold for in the area
9. you rush around trying to find a lender who can meet with you fast to find out what is the best way for you to buy the home  before the Realtor can submit the offer. Can you qualify for an FHA LOAN, a VHDA/Plus 1% Down Loan, A Conventional Loan, a VA Loan?
10. the agent has to wait for the lender pre-approval letter
11. it's now Friday and the Banks won't reivew your offer until Monday..frustration builds!
12. assume you're the only buyer who likes that Price and Everyone Will Low Ball-BIG MISTAKE!
13. get upset when you hear you are one of 5 or 6 offers on that property - and your offer is to low!   
14. make an offer on a Short Sale home if you have a timeline....

   All of those items whipped in a bowl is a recipe for Major Stress!   

Buying a Foreclosed home can be so much easier than that.  

Erick and I can coach you on all your  options, and we can write an offer that will address all the terms you need to get the perfect house. We are strong negotiators and can help find a home with far less stress than the horror stories you've heard of. So if you're looking to buy a Bank Owned/REO property in the Woodbridge Virginia or surrounding area's please give us a call today. Get your List Today CLICK HERE. We strive to make your house hunt fun, informative, and stress free. If you need help, please don't hesitiate to give us a call.

The # 1 Item on the Do List is call Erick and Company today.

 703-590-2252