Percentage of Foreclosures and Short-Sales Holds Steady

The percentage of total properties for sale in Loudoun County that are foreclosures/bank-owned or short-sales is holding steady around 25 percent. We've been seeing the percentage stay around 25 for most of this year.

Though we'd all like to see that percentage go down, it's definitely good news that it's not increasing. The fact that it's not increasing is another sign that the worse is behind us.

-Danilo

Comments

[Avoid Foreclosure]

This site may be useful to some of you guys and gals. It has some practical information on how to avoid foreclosure.

http://howtoavoidforeclosure.org/help/sitemap.xml

Good Luck

[Doug Smith - Government Auctions]

Maybe it's not increasing but the percentage actually needs to decrease to allow banks to go back to less stringent lending practises. Unfortunatly I feel the worst is yet to come for the banks as the leverage factor will require liquidation of assets for recovery. Great opportunity to buy homes at give away prices though. Check out http://governmentauctionsitereviews.com to find the best deals on bank foreclosures and pre-foreclosures.

[Dale]

Well, that is due to the averaging of all residential areas in the US, not because it is actually staying steady. For instance, in our economy here in Southwest Florida, we were seeing short sales over a year ago. Now, because of the structure of the credit markets, other areas of the country are being hit as hard - only the markets previously hit are doing better. So it all evens out - but I don't believe were over it yet.

Dale