Lake Ridge Virginia Real Estate News: Westridge Subdivison In Lake Ridge Virginia...Things Buyers And Sellers Need To Know.

Westridge Subdivison In Lake Ridge Virginia...Things Buyers And Sellers Need To Know.

 

There Were Not Many Buying Opportunities In 2008!

In the entire subdivision of Westridge in Lake Ridge Virginia there were only 25 Buying Opportunities in all of 2008!  Below is a spreadsheet that shows you all the activity for Single Family Homes in Westridge.

The news is, not much is happening in Westridge. So if you've been dreaming or buying a home in Westridge...it might be awhile. That said there were a few of the high end acreage homes that failed to sell this year. This was no fault of the owners, this is due to the lack of financing options available to Home  Buyers. When there is  No Attractive Financing Options Available, price and condition don't matter.

I would imagine we will see some of these homeowners will try again in Spring after the winter thaw and when better financing options appear on the horizon. Let's take a look at the Single Family Inventory:

                     
Status: ACTIVE (1) Only 1 Detached Home Currently For Sale!
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $620,000 4 3 2 1 38 131 18,029 1991
Max $620,000 4 3 2 1 38 131 18,029 1991
Avg $620,000 4 3 2 1 38 131 18,029 1991
Status: CONTRACT (2) Two Detached Homes Under Contract in November
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $269,500 3 3 2 1 62 62 9,514 1987
Max $364,900 3 4 3 1 94 94 12,537 1987
Avg $317,200 3 4 3 1 78 78 11,026 1987
Status: EXPIRED (3) Three Detached Homes Failed To Sell
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $619,900 5 3 2 1 51 51 21,170 1988
Max $799,950 5 4 3 1 184 252 94,172 1989
Avg $706,616 5 4 3 1 104 162 53,216 1988
Status: SOLD (7) Only 7 Detached Homes Sold In 2008 So Far!
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $385,000 3 3 2 1 26 51 11,112 1987
Max $684,950 5 4 3 2 296 296 23,283 1988
Avg $502,679 4 4 3 1 108 133 15,911 1987
Status: WITHDRN (12) Twelve Detached Homes Withdrew From The Market
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $409,950 4 3 2 1 4 4 10,032 1987
Max $724,950 5 4 3 2 542 542 94,172 1991
Avg $612,367 4 4 3 1 123 167 25,673 1988

Status: All (25) There were only 25 Single Family Resale Opportunities in  2008                     

    List Price Bedrooms Baths FB HB DOMM LOY BUILT  
Min $269,500 3 3 2 1 4 4 9,514 1987
Max $799,950 5 4 3 2 542 542 94,172 1991
Avg $569,656 4 4 3 1 110 148 24,767 1988

Here is the best news- Westridge Homeowners will be happy to hear there were only four single family Bank Foreclosure sales in Westridge in 2008. Click here to see what those homes SOLD for CLICK HERE

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Now let's take a look at the Townhome Resale Activity in Westridge So Far in 2008. Look at the spreadsheet below:

 

Status: ACTIVE (11) Active For Sale
    List Price Bedrooms Baths FB HB DOM LOT BUILT  
Min $194,900 3 3 2 0 2 12 1,599 1987
Max $315,000 4 4 3 2 408 408 3,271 1990
Avg $257,517 3 4 3 1 124 159 2,088 1988
Status: CNTG/NO KO (3) Happy Homeowners
    List Price Bedrooms Baths FB   DOMM LOT BUILT  
Min $219,000 3 4 2 1 14 20 1,651 1987
Max $275,000 4 4 3 2 35 64 2,810 1989
Avg $253,000 3 4 3 1 23 40 2,110 1988
Status: CONTRACT (1) One Nearing Settlement
    List Price Bedrooms Baths FB   DOMM LOT BUILT  
Min $191,900 4 4 3 1 10 10 1,599 1988
Max $191,900 4 4 3 1 10 10 1,599 1988
Avg $191,900 4 4 3 1 10 10 1,599 1988
Status: EXPIRED (4) Failed To Sell in 2008
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $249,999 3 4 3 1 92 92 1,599 1987
Max $385,000 4 4 3 1 183 183 1,869 1996
Avg $318,737 4 4 3 1 129 129 1,707 1990
Status: SOLD (33) 33 Homeowner's SOLD in 2008!
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $200,000 2 3 2 1 5 5 1,599 1986
Max $340,000 4 4 3 2 211 352 3,485 1993
Avg $258,374 3 4 2 1 50 84 1,923 1989
Status: WITHDRN (6) Decided To Wait Until Later
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $225,000 3 3 2 1 84 84 1,599 1988
Max $339,900 4 4 3 2 301 311 3,145 1994
Avg $285,550 3 4 3 1 149 151 2,222 1990
Status:All (58) 58 Total Opportunities To Buy A Townhome In Westridge!
    List Price Bedrooms Baths FB HB DOMM LOT BUILT  
Min $191,900 2 3 2 0 2 5 1,599 1986
Max $385,000 4 4 3 2 408 408 3,485 1996
Avg $263,761 3 4 3 1 78 105 1,974 1989

In Westridge so far this year eight town homes were FORECLOSED and there have been a half dozen short sale town homes offered on the market so far. Many of the folks who were in distress, purchased these homes in after 2005 and did not have enough equity to sell. That's why they call them short sales. If you need more information on what a short sale is check out a recent post I wrote How to Buy or Sell a Short Sale

Take a look at what these Bank Owned Homes Listed For and Sold For. Also notice the Banks paid closing costs for the buyers. CLICK HERE

Westridge is a great place to live. I love it here. The people are friendly and the subdivision is beautiful and the amenities are awesome. 

It's a very large mixed use community made up of single family homes, townhomes and condo's. It's sought after for it's overall design, and style of homes offered. I lived in Westridge, back in the late 1980's when it was first built. Back then I wanted to live here because it offered the newest homes with the best features, high ceilings, luxury baths, open foyers, family rooms that sprawled across the rear of the homes and lots from quarter acre to ten acres and the community was a sidewalk community. Long story short I was divorced in 1995 and I could no longer afford to live in Westridge. However, I moved back to Westridge in the height of the market in 2005. A home I'd always had my eye on, appeared on the market with a big flat fenced back yard and a master bedroom on the main level and my new husband and I snapped it up. You can see my home here. My home value has gone down like yours. Realtors are not immune to such losses, that said,even if I had known the market was going to go down, I still would have made the same choice.  Am I upset, sure, however I'm not planning a move anytime in the near future.When the time is right and the price is right we may sell in a few years. Until then, we are blessed and get to live in one of the finest homes in Westridge. Buying a home is about so much more.  I always coach buyers to buy the best home they can afford where they want to live. Don't just buy because it's seems like a good deal!

So in closing, if you are one of those people out there who are looking to buy a home in Westridge let me know. I will set you up on a Immediate Notification List that will send you every new listing that hits the market in Westridge Subdivision in the Lake Ridge Virginia area. That way you will never miss an opportunity.Keep in mind we can customize a notification search for anywhere you want to live in the Prince William County Virginia area. That is just one of the things I can do to help relieve your stress load when searching for your dream home. Sign up today CLICK HERE

  

                                 Got a question? Just type out a comment I'll be right with you.....

                                                  or just call me on my cell 703-851-3085

Contact Peggy James or Erick Blackwelder of Erick and Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 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, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's

 

     Erick Can Sell Your Home

 

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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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 • November 21 2008 11:22AM

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