Short Sales in Winchester-Frederick County VA - February 2012

By
Managing Real Estate Broker with Winchester Real Estate Sales, Cornerstone Business Group Inc 0225086119
http://actvra.in/sPY

The short sale market in Winchester/Frederick County, VA is alive and Short Sales in Winchester-Frederick County VAwell.  The current market for both city and county offers 555 active listings.  Of that number, 55 are currently listed as potential short sales.  In the Frederick County listings, short sales make up 9% of the 443 current active listings.

With the combined area of Winchester City and Frederick County, short sales make up between 9-11% of the overall available active listings.  Foreclosures make up another 9% of the overall listings.  That leaves 80+% of available listings that fall into the fair market category.  That high number of fair market properties are as likely to give support to  short sale and foreclosure prices as the reverse.

The price ranges for short sales in the Winchester / Frederick County area range from $69,900 - $589,433.  Both high and low figures can be found in Frederick County with it's higher number of overall properties, as well as higher numbers of short sales and foreclosure listings.

The average price range for a Frederick County short sale is $178,766.  That property is off it's original list price by 16%, and it has been on the market for 88 days.  In Frederick County, the days on the market range from 722 to 1.  Winchester averages vary between 487 - 1.  The longer number of days on the market may signal that distressed homeowners have found a way to continue to support an upside-down mortgage while attempting to short sale a property closer to the payoff.

The pace at which properties are moving through the local market and the limited number of property sales indicates that the ratio of buyers to sellers is still leaning in the buyer's favor.  That presents many buying opportunities for  savvy buyers, but it places a great deal of pressure on distressed homeowners who are trying to get out from under a house that is currently underwater. 

Short Sales in Winchester-Frederick County VAEven though the high ratio of fair market properties available in the Winchester / Frederick County Virginia area may signal good news for homeowners hoping to maintain some of their previous equity in a sale - it means little for a distressed homeowner who is still looking for a little relief.

If you're in the Winchester / Frederick County, Virginia area and you need to sell your home through a short sale, don't give up hope.  We can help get you through the process and on to a fresh start with a lighter load.  Give Cornerstone Business Group, Inc., a call and we can discuss your options.


Short Sales in Winchester-Frederick County VA - February 2012

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Rainmaker
659,720
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Mike:  Buyers are always curious about the types of listings that are available and your area has lots of inventory now.

Feb 11, 2012 11:32 PM #1
Rainmaker
843,016
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

Jane, it's nice to see the inventory shifting back to the old days.  Hopefully, this is a trend.  Have a great Sunday.

Feb 12, 2012 07:31 AM #2
Rainmaker
1,164,796
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Mike.  Great ratios.  What's happening with your DOM?  Are they going back to the 3-6 month normal market?

Feb 12, 2012 07:51 AM #3
Rainmaker
1,217,652
Lisa Von Domek
Lisa Von Domek & Associates LLC Team at Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Mike,

Great breakdown, useful information for buyers in your market.

Have a lovely Sunday!

Feb 12, 2012 08:05 AM #4
Rainmaker
843,016
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

Conrad, that seems to be the trend that's forming.  I had no idea that short sales and REOs were sitting so long until I did the research this week.  

Thanks, Lisa.  Have a great Sunday!

Feb 12, 2012 08:29 AM #5
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Rainmaker
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Mike Cooper

Your Winchester, VA Real Estate Pro
Winchester has a place for you! Call me.
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