Luxury Homes Sales Update for Lake Ridge Virginia area homes.
Would it surprise you to know that there have been No Foreclosures in the high end market since June 2011 in the Lake Ridge Virginia area? 
Specifically the 22192 Zip Code area!
We're talking about resale homes priced above $500,000...
I did a quick study of the resale market of luxury homes that have listed and or sold since June 2011.
MRIS Data Base the information system that Realtors use on a daily bases shows these stats:
- Zero Homes have been offered as foreclosure sales
- 7 Homes have been offered as Short Sales
- 17 Luxury Resale Homes are currently active for sale
- 3 Luxury Resale Homes are Under Contract pending setttlement
- 1 Luxury Resale Home is firmly in Contract Status pending settlement
- 21 Luxury Resale Homes SOLD since June 2011 in Lake Ridge Virginia
Average days on market have been less that 60 for most of the year. However the days on market have increased to well over 120 currently locally on resale homes.
This could be because of the new rulings put into place with regard to mortgage amounts or just due to all the rotten weather we have had locally. Hurricane, Earthquake and Flooding did not help in September!
You see as of October 1st 2011.
- FHA buyers who have been fueling the markets can no longer borrow over $625,500. This means a buyer who qualifies to use FHA Financing and has the minimum down payment needed ( 3.5% of the sales price) will only be able to consider homes priced under $648,500.
- Military Transfee's, with PSC orders or veterans who have full VA Eligibility can purchase a home in the Washington DC Area ( including Prince William County Virginia) up to $818,850 with a zero down payment if they qualify. BRAC transferree's are on the move now. Because of the affordability here in Prince William County Virginia, don't be surprised to see a Veteran make an offer on your home.
- Conventional Buyers- these are prospective purchasers who have a substantial down payment of ten percent or more. Qualifying is a bit tougher however many homes in recent months have sold to conventional buyers.
Currently there are 17 Active Luxury Resale Homes available
For Sale in 22192. View Now
Find out what's for sale today in Woodbridge Virginia Click here
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Do you need help? Have a question?
Just ask me peggy@erickandcompany.com
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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.
