Prince William, Loudoun and Northern Virginia Foreclosure Real Estate Update

While a majority of this year's business so far has been carried by foreclosure activity, particularly in Prince William County areas of Northern Virginia, there has been a shift developing in the availability and attractiveness (in price) of the homes available on the market.

Some may see the slowdown and "stabilization" of the Northern Virginia foreclosure market as a positive trend in the housing market - while this is true to some degree, it's mostly an inventory release slowdown driven by banks who do see opportunities to improve their returns. Major holders of foreclosed assets including Fannie Mae and Freddie Mac have significantly slowed their release of foreclosures onto the Northern Virginia market, thereby driving demand up a bit among first-time buyers and investors, and therefore prices.

We don't anticipate a significant surge in prices for foreclosures; there are thousands more to be released, along with many homeowners wishing to sell still waiting on the sidelines. This means while the inventory is being somewhat artificially constrained, it nonetheless remains a large inventory and therefore still a supply-driven (with depressed pricing) market.

What does this mean to you? Don't rush to buy - choose your home or investment wisely, for long-term gains (which will eventually come); it's still a buyer's market out there, and there are many great deals to come!

For more information about the Northern Virginia, Fairfax, Arlington, Loudoun or Prince William foreclosure market, contact me at http://www.ingridmyers.com.

Fall business and homeowner's tip - clean and install new home security alarm screens on your windows - let the fresh air in, but keep out unwanted quests!

Interested in moving your home or business to Loudoun County, VA? Read all about Loudoun County's business climate, community news and other information "Made in Loudoun", from Loudoun's #1 resident-owned blog, "Gateway to Loudoun"!