A news report in USA Todaythe other day showed a (Chart: Under Water Chart ) where home owners across America are under water on their mortgages. Of course we all know that California, Nevada and Flordia make the list. But did you realize that Prince William County Virginia is ranked #26 on that chart!
According to the report 47.4% of Prince William County Virginia homeowners are now underwater on their mortgages.
A news reporter called quoting this figure, like this was big news or something. I choose not to meet him, it was 7pm at night, dark outside. Seriously, we live here...we know exactly how bad the real estate market hit Dale City, Woodbridge and the Manassas Virginia area since 2008. No one has to rub salt in the wounds or make homeowners feel any more stressed than they already do.
"Please...let ne shed a ray of sunshine on this. The local news media always lead with the bad stuff. I believe homeowners need some glimmer of hope."
Yes, many homes sold for a loss as reported by Zillow here on this graph in the past year.
However if you simply ask a different question, the Zillow model will also show you that many homes sold for a gain in the past year in 22191,22192 and in 22193.
In the past year,I have sat across the settlement table on a lot of real estate transactions. I witnessed one of my homeowners writing a check for $17,000 to sell her home who could not qualify to sell by short sale. I've witnessed other sellers who have collected good sized equity checks at the closing table. I've also helped many short sale sellers sell and not have to pay one dime at the settlement table.
When you are ready to sell. My advice is call me. Let me take a look at your individual situation. In the meantime, you can Find out now what your home is worth. If you would like to schedule an appointment for me to come see your home contact me by email or call 703-851-3085.
Contact Peggy Jamesor Erick Blackwelder of Erick and Company ofExit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252(Office).Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Garrisonville and Triangle area's .
Find out what's for sale today in Woodbridge Virginia Click here
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Contact Peggy James or Erick Blackwelder of Erick and Company of Exit Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085(Peggy) 703-590-2252 (Office).Give us a call and we can "GET YOUR HOME SOLD FAST"to list your property for sale we service Woodbridge, Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas,Gainesville, Garrisonville and Triangle area's.Basically all of Prince William County Virginia. Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City.
Peggy, I also read the report about ~50% of homeowners in the US being upside down in their mortgage. As long as they don't need to sell, it doesn't really matter but when they need to sell, they may very well be writing a check at clsoing - and that hurts!
Hi Maria, agreed. The real estate market is cylical. I remember back in 1995 my ex-husband and I had to sell because we were getting a divorce. We purchased a brand new home in 1989 and when our marriage fell apart the real estate market was crashing all around.Values starting falling in 1993 and by the time the home SOLD home values were down back 20% . We did not make a dime, in fact we had to write a check at closing as well. It hurt!