42% of Loudoun County Real Estate Sales are Distressed

 I just completed an analysis of the real estate transactions for 2009 for the entire 10th Congressional District. I was asked to do this by one of the candidates that will be running for this seat later in the year, Jeff Barnett. We had a lengthy conversation about the state of the real estate market in Loudoun County as well as other parts of the congressional district. It seems that Loudoun County is a good barometer for this distrct.

With 4767 transactions in 2009, Loudoun County represents about 27% of the market. And with 42% of the transactions being either short sales or foreclosures, this is very close to the 43% distressed sales rate for the district. In 2009, 4605 homes were sold by banks via real estate agents and 3017 homes were sold short by agents in the 10th Congressional District. 

 And there is really no reason to believe these numbers will get any better any time soon. Banks continue to control the flow of properties they are willing to put on the market. And the banks refuse to offer permanent loan modifications to homeowners in any significant amounts. 

In fact, they seem to be trying to prevent loan modifications by telling the Obama administration that the homeowners are not sending in all the information. The truth is probably the banks are telling the homeowners to fax in the documents and then they banks just delete them from the queues. I have had this happen to me many many times and every bank does it.  And it seems no one from the administration is checking to see if what the banks is saying is true.  But then again why would they since Obama was one of the biggest recipients of campaign funding from these very banks.  But I digress.

Here is a link to a breakdown of all the zip codes within the 10th Congressional District.

Download Real Estate Sales Analysis - 10th District

Comments

[Paul Salamanca]

I agree with You....I have used www.SkipBrokers.com to find all of my no fee apartments in NYC for the past 5 years...No fee apartments....

[House Plans]

I think some adjustments are needed to boost up sales and I hope that it works.

[Philippines properties for sale]

I am definitely agree with you 'house plans' that there are some adjustment needed like changing your sale strategy..

[We Buy Houses]

I totally agree, there is probably something wrong with your sales strategy that is why sales are going down instead of going up like expected in most real estate firms. You probably need to evaluate your current status and the way your sell property maybe, just maybe that is were your fault lies.

[Karl Bennion]

I just saw some great information on Utah Real Estate and the urgency to take advantage of the Tax Credits now available but it applies everywhere. The website was http://www.slcbuyerinfo.com. It made me realize what a unique time we are in for purchasing real estate right now and making a killing in profit down the road.

[association management software]

I have a friend in which I recommended this post to read. I saw the concern on his face when he finished reading the post and believe me its an expression I can never forget. Thanks for this informative post.

[Buyers Advocates]

Banks have always been controlling these but at the moment they are too much.

[Bankruptcy Lawyer Riverside]

As a bankruptcy lawyer I have dealt with a lot of clients that are facing foreclosure. One of the biggest items that they always mention is that they have faxed or sent in the information requested only to be denied a loan modification because the mortgage company claims they did not receive the document. I would not be surprised if these documents were purposely being deleted.

[Chuck Derouen]

True, with a little adjustment in selling strategy you may be able to turn it into a sellers market. I think that the more buyers realize how much money they can save and how much they'll be able to put back into the property and make it the way they want it, the easier it will be to make the sale.

[socorro]

study and strategies again. look at it in the bigger side. it wont fail or go down if there's nothing wrong. maybe there is a need of adjustments

[Skagit county property]

I have a mate in which I recommended this post to read. I saw the concern on his face when they done reading the post and think me its an expression I can always keep in mind. Thanks for this informative post.