Lake Ridge Virginia Real Estate News: 2011 Short Sale Buyer Sells in 2015 For Nice Profit

2011 Short Sale Buyer Sells in 2015 For Nice Profit

Today's blog is a success story about a first time buyer who purchased a town home in the Lake Ridge Virginia area with my assistance back in 2011.

The home the buyer fell in love with had been sitting on the  market unsold for months. The funny thing was it was a water view townhouse overlooking the Occoquan Reservoir and it was an end unit. That is a rare find, however many buyers stared clear of short sale homes if they needed to be moved right away. My clients were first time buyers in a rental, and time was on their side. They were more than happy to wait for the bank to approve the sellers short sale request.

The seller accepted their offer and it took the sellers bank two months to approve the sale!

The purchaser closed in January 2011. The final sales price was $259,900.

Successs they were "officially homeowners"

Fast forward to 2014.

They called and wanted to explore buying a larger home. My twins sister Patty and I met with them.  After looking at their situation and explaining all of their options they made the decision to buy their move-up home in the same school district, not far from where they currently lived.

Why? One word-Space! With another little one on the way, it was clear to them they had out lived the their very first townhouse. In there case they were able to house hunt, negotiate for a move-up home prior to selling their existing home. ( You may be able to as well) These folks were using a VA Loan. Lucky for them they made the decision to settle on the Move-Up home prior to January 1st, 2015. The reason VA Maximum entitlement for the Prince William County Virginia decreased from $692,500 to $625,250. Whew!They dodge a bullet!

learn how to sell a home when you want to buy one as well

As soon as we had their move-up home under contract and appraised we listed their townhouse For Sale for $347,000. '

Did you catch that. They were able to list their home for  $87,000 more than they purchased the home for in 2011! ( Note- the sellers did a major renovation of the kitchen, master bath, added new windows and a new fenced yard and retaining walls during the past four years. So that helped with increasing the value!)

After selling costs they will not make $87,000 however they made a nice profit for only owning such a short period of time.

"Best of all I an happy to report, in less than a week we were able to

present the sellers with "Multiple Offers" on their town house!"

 

Even better they got their List Price, and the home Appraised!

Home ownership and success stories don't get much better than that.

So, let's recap this. If you purchased a home in the Prince William County Virginia area in 2009,2010, or 2011, chances are you are starting to see equity.

If you purchased a foreclosure or short sale their is a very good chance you could sell now for a profit. Find out  now what your Prince William County Virginia home is worth now

Home ownership and success stories don't get much better than that. Do you need help finding a larger home. Tell us your situation, we'll sit down with you and help you explore all of your real estate options.

Please don't hesitate to call us at 703-851-3085.

 

 

 

Peggy James
 My direct #:703-851-3085
 

Search homes for sale in or local Prince William County Virginia area and Eastern Fairfax County near Fort Belvoir Virginia.

 
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"Our Goal is Your Goal!"


Twins Selling Real Estate EXIT Realty Associates 8998 C Lorton Station Blvd, Lorton Virginia 22079 Equal Housing Opportunity Call 703-851-3085
Comment balloon 0 commentsPeggy James • December 31 2014 08:04AM

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