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Foreclosure Inventory is Rising

If you’re an active buyer in Northern Virginia out there and have been following the market the past 5 months, you’ve probably seen a dip in the amount of foreclosures that are hitting the market.  You are also probably noticing that every offer you submit is beaten out by an all Cash offer.  The reason for this is because the foreclosure inventory is rising. As soon as a foreclosure property comes on the market, 10 investors are trying to scoop it up as fast as possible.  Banks are sitting on these properties.  About 645,800 foreclosed homes were held in January, up 4.6 percent, from December.  Since foreclosure inventory is rising, you may be wondering if the flood gates will open and flood the market.  There is no prediction if this will happen, but it’s inevitable that these homes are released to bring the housing market back to normal.

States with the largest number of foreclosures are Florida, Arizona, Nevada, California, and Michigan.

Below are all the foreclosures in Fairfax County:

  1. 3 beds, 2 baths
    Home size: 1,280 sq ft
    Lot size: 5,942 sqft
  2. 4 beds, 3 baths
    Home size: 1,508 sq ft
    Lot size: 11,240 sqft
  3. 3 beds, 3 baths
    Home size: 2,865 sq ft
    Lot size: 2,178 sqft
  4. 3 beds, 3 baths
    Home size: 1,530 sq ft
    Lot size: 882 sqft
  5. 2 beds, 2 baths
    Home size: 1,074 sq ft
  6. 1 bed, 1 bath
    Home size: 965 sq ft
  7. 2 beds, 1 bath
    Home size: 785 sq ft
  8. 2 beds, 2 baths
    Home size: 1,539 sq ft
  9. 5 beds, 5 baths
    Lot size: 6,599 sqft
  10. 4 beds, 3 baths
    Lot size: 18,118 sqft
  11. 3 beds, 4 baths
    Lot size: 1,600 sqft
  12. 4 beds, 3 baths
    Home size: 3,159 sq ft
    Lot size: 3,981 sqft

See all *Fairfax County ALL Foreclosures.
(all data current as of 7/17/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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