Charlottesville Foreclosures For Sale
11-03-11

Sponsored by: 1st Access Club

There are currently 36 Charlottesville foreclosures for sale in the City of Charlottesville
and surrounding Albemarle county.
Prices range from $39,900 to $16,000,000 !

Within the same area of Charlottesville proper and surrounding Albemarle county,
there are currently 1224 properties (total) for sale.
899 are single family detached homes, the other 325 are condos/townhomes/attached homes.

Since January 1st of this year, 138 foreclosures have sold, since August 1st 'til now, 32.
Prices of the Charlottesville foreclosures that sold (32) since August 1st to
Novemeber 3rd ranging from $32,700 to $1,850,000

Since January 1st of this year to August 1st, 791 properties have sold. 
From August 1st to now, 302 properties have sold, 208 of these were single family detached homes.
Average DOM = 85+ (our MLS doesn't yet figure continuous days on market, so this figure most likely higher)
Median price = $346,000

1st Access Club

Yes, there is an enormous amount of inventory, but homes are still selling.

It's what we refer to as a "cherry picking" market, meaning the good ones are
scooped up and the rest sit a long time.

And, what are "good" properties?

They have to represent good value per dollar, usually compared to like-and-kind.
These homes usually show well and are priced agressively.

You'll also see, in this buyer's market, more concessions towards closing costs offered by sellers.

And, what about foreclosures? Are they right for you? Do they represent good value as
places to raise a family, be part of a community, and call home?

Analyzing opportunity and factorin:

1. Lots of homes to choose from (including heavily discounted foreclosures)
2. High chance of seller concessions
3. Lowest interest rates in history, and
4. Prices that have dropped in huge degrees over the last year,
and you can see why it's a great time to buy!

So, do these steps, now and make home buying a reality:

1. Contact a local mortgage lender (I can recommend several) and get pre-approved.
Find out how much you can qualify for and what that translates into a monthly payment.
2. Sign-up for an IDX MLS listing search engine. I recommend 1st Access Club
3. Do your due diligence and research on-line--remembering a lot of what you see and read on the web is NOT relevant to our local market.
4. Call or e-mail me and let's set a time to get together face-to-face and strategize best ways and plans to make your homebuying a reality!

Helpful links:

Central VA HUD homes

Charlottesville Neighborhood Video Galleries