Loudoun Foreclosures

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Project Lifeline Puts Temporary Hold On Foreclosure Proceedings
2008-02-21 03:48:00
The six major lenders participating in the Project Lifeline initiative have agreed to put foreclosure proceedings on delinquent borrowers on hold for up to 30 days to evaluate alternatives. The lenders say that eligible borrowers will be offered workout plans that could lead to formal loan modifications for those who can make payments on new terms for three months. The borrowers targeted by the Project Lifeline are those who are 90 days or more behind on their payments. But borrowers...
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Spec Town Home In Lansdowne - $28K Off + Incentives
2008-02-18 20:08:00
A spec town home with an April delivery date just became available in Lansdowne. It's a brick front end unit with approximately 2400 square feet of finished living space. It has a 2 car garage, 3 bedrooms, 2 full baths and 2 half baths. The kitchen has upgraded maple cabinets, a large center island, corian countertops and stainless steel appliances. It has hardwoods in the kitchen and family room, a deck, 3-sided fireplace and upgraded carpet throughout. The master bedroom...
More About: Home , Town , Incentives

Ashburn Foreclosure/REO and Short-Sale Update
2008-02-14 21:03:00
Here's a look at the ratio of foreclosures/REOs and short-sales to total inventory in Ashburn as of today... Actives: There are 446 total active properties for sale (listed in the MLS) Of those, 121 are either foreclosures/REOs or short-sales Distressed properties account for 27 percent of the available inventory in Ashburn Under Contract: There are a total of 130 properties currently under contract in Ashburn Of those, 63 are either foreclosures/REOs or short-sales Distressed properties account for 48 percent of...
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Washington, DC Metro Area Makes Top 50 Highest Foreclosure Rate List
2008-02-14 16:01:00
The Washington , DC metro area, which includes Loudoun County, made the top 50 list of metro areas with the highest foreclosure rates, coming in at number 41. For the full list and a detailed look at the stats/numbers, click here.
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U.S. Foreclosure Filings Up 79 Percent in 2007
2008-02-13 22:50:00
According to RealtyTrac, U.S. foreclosure filings rose 79 percent in 2007 compared to 2006 with 1 percent of all households entering a stage of foreclosure. The household numbers are based on the U.S. Census Bureau's 2005 estimates of total housing units, and RealtyTrac tracks filings for all phases of foreclosure, including notice of default and lis pendens, notice of trustee sale and notice of foreclosure sale, and real estate-owned (REO) properties that have been foreclosed on and repurchased by a...
More About: News , Foreclosure , Statistics

Delinquent Borrowers Get Help From Six Major Lenders Through Project Lifeli
2008-02-13 06:01:00
In a new initiative called "Project Lifeline", six major lenders have agreed to work with seriously delinquent homeowners and put foreclosure proceedings on hold for up to 30 days. They would take that time to offer some borrowers workout plans that would lead to formal loan modifications if they can make reduced loan payments for three months. Project Lifeline covers all types of loans including prime, alt-A, second-lien and home equity loans. The six major lenders that have agree to...
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Snapshot of Loudoun County Foreclosure/Bank Owned and Short-Sale Properties
2008-02-12 21:22:00
Here is a snapshot of foreclosure/bank owned and short-sale properties in Loudoun County , Virginia: Twenty-four percent of the currently active listings in Loudoun County are either foreclosures/bank-owned or short-sales. Fourty-three percent of the properties that are currently under contract are either foreclosures/bank-owned or short-sales Fourty-four percent of the properties that settled in January 2008 were either foreclosures/bank owned or short-sales. This in an increase of over 400 percent from January 2007 when only 10 percent of the properties that settled...
More About: Sale , Foreclosure , Statistics , Owned

Awesome Single Family Home Deal In Ashburn Farm
2008-02-12 20:45:00
This single family home in Ashburn Farm was recently reduced to $515,000, a price point that makes it extremely attractive. A relocation company bought the property from the previous owners as part of their relocation package. Besides the price, the high points are that it sits on .44 acres; it has a huge deck on the back of the house; there are mature trees all behind the house; it's on a cul-de-sac; it has a finished basement. The low points...
More About: Family , Home , Awesome , Deal , Single

Latest Loudoun County and National Foreclosure Data
2008-02-01 04:40:00
In case you missed it, check out this post on Loudoun Stats showing that foreclosures and short sales continue to rise in Loudoun County . And check out this post on RealtyTrac's Foreclosure Pulse Blog analyzing RealtyTrac's report on US foreclosure activity in 2007. The report shows that US foreclosure activity was up 75% in all of 2007 with December filings up 97% from 2006. Below is a map of 2007 US foreclosure rates shown in different colors from lowest to highest...
More About: National , Data , Statistics

Excellent Price for Foreclosure in Belmont Greene
2008-01-31 16:18:00
There is a 4 Bedroom 3.5 Bath property in Belmont Greene that is bank owned that is priced at $425,000. This is $75,000 less than the same model half a block away. The house is within walking distance of the W&OD Trail and Stone Bridge High School. It is in good condition with only some minor cosmetic issues. This is one of the lowest priced single family homes in the 20147 zip code. It has a detached 2-car garage, hardwood...
More About: Foreclosure , Price , Excellent , Mont

Foreclosures, Fed Funds, Countrywide and Refinance
2008-01-29 14:16:00
A couple of items to watch for today: Countrywide will announce its earnings today. I wouldn't be surprised if they have a surprise. Federal Reserve Meeting is today and some say they will drop the Fed Funds rate .25 basis points. That would make a full percentage point in 8 days. Because of the drop in Fed Funds Rates interest rates have been going down. This has given many homeowners a chance to refinance their mortgages. The refi business has...
More About: News , Foreclosures , Refinance

Foreclosed Townhouse in Broadlands Under $300,000
2008-01-22 23:21:00
This one car garage townhouse in the Broadlands is a Countrywide owned foreclosure. It is priced at $299,900. It has 3 bedrooms and 2.5 baths with Maple Cabinets and Granite countertops in the kitchen. This price is new as of yesterday and will not last long. This is a great deal for a townhouse in the Broadlands.
More About: Foreclosures , Foreclosed , Townhouse

The Effect Of Subprime Loans And Foreclosures/REOs On Property Values
2008-01-22 20:04:00
If you missed it, there was an article on the front page of the Washington Post as well as LoudounExtra.com on Sunday regarding the effect of subprime loans and foreclosures/bank-owned properties on property values. It compared the different cities and counties within the Washington, DC metro area, including Sterling Park. It also compared the DC metro area to other areas of the U.S. such as Nevada and California. According to the article, areas outside the Beltway have been hit the...
More About: News , Foreclosures , Property , Loans , Effect

Announcement: New Year, New Broker
2008-01-21 18:03:00
Tony Arko and I, Danilo Bogdanovic, would like to formally announce our move from the CC Sells Team/Keller Williams Realty to Market Advantage Real Estate, LLC. After a great 4 years with the CC Sells Team/Keller Williams Realty, it was time for us to move on. Market Advantage is also located in and focused on Eastern Loudoun County so the move will not affect our primary area of focus nor level of service. In fact, we will now be able...
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$1M Bracket Bank Owned Deal In River Creek Country Club
2008-01-17 22:54:00
I just ran across this bank-owned single family home in River Creek Country Club that is an excellent value at $899K. The property has 6800 finished square feet on 3 levels plus a 3 car side load garage. It's on 1/3 acre on a cul-de-sac with views of the Potomac River from the back of the house. It has 6 bedrooms and 5.5 baths with a fully finished walk-out basement. It has 95 percent of the things a home in...
More About: Foreclosure , Deal

Great Spec Home/New Construction Deals In Brambleton
2008-01-08 17:35:00
There are several awesome spec home deals available in Brambleton at the moment. One particular builder has 5 spec town homes currently available, all heavily discounted. They are all the same model, which has over 2600 finished square feet plus a one car garage. All 5 of the specs include maple cabinets, 14 X 14 ceramic tile, stainless steel appliances, granite countertops, etc. They range in price from $340K to $382K with 6 percent in closing costs paid for by...
More About: Home , Construction , Great

An Unbelievable Foreclosure Deal in Ashburn
2008-01-08 00:00:00
I just came across this foreclosure in the Faulkners Landing subdivision of Ashburn and I couldn't believe my eyes. The list price was just dropped from $464,900 to $328,900!!!!!!! This will have multiple offers in the next day or two. The home was bought in August of 2006 for $607,000. The assessed value is $561,700. This is an incredible deal. It is such a good deal, it might be a typo. Similar foreclosures in this subdivision have been selling for...
More About: Foreclosure , Deal , Unbelievable , Burn

Great Foreclosure Opportunity in Broadlands, Ashburn
2007-12-29 17:32:00
This 2400+ square foot townhouse in the Southern Walk section of the Broadlands in Ashburn is for sale at $369,900. It is and REO property owned by a bank. The price was just dropped $70,000 last week and is now a very good deal. The assessed value is $527,300. It has 3 bedrooms, 2 full baths, 2 half baths, a 2 car garage and a deck. This property should go under contract in a very short time. If you need...
More About: Great , Opportunity , Foreclosure , Unit

Loudoun County Foreclosure/REO Listings Set to Jump in January
2007-12-28 06:01:00
Several forces have been in place the during the month of December that will more than likely contribute to a considerable increase in the number of foreclosure/REO listings in Loudoun County in January . Banks have been working very hard on getting contracts ratified and closed before the end of the year. All their manpower was spent working during the first two weeks on ratifying contracts and the last two weeks on closing the deals so they can book them in...
More About: Foreclosures , Listings , Foreclosure

Lowest Priced REO/Bank Owned Town Home In Sterling
2007-12-27 15:13:00
This property is the lowest priced REO/bank owned town home in Sterling, Virginia. It's currently listed for $149K. It's tax assessed value is $256,000. The kitchen was updated in 2005 including appliances. The bathroom was also recently updated. This property is a great rental-income investment opportunity due to it's recent updates and location. For pictures or more information about this or any other property, just let us know. Listed by RE/MAX Preferred Properties, Inc. - 380 Maple Ave, W #100...
More About: Foreclosures , Home , Owned , Town , Bank

Short-Sale Town Home In Broadlands - $70K Below Assessed Value
2007-12-26 22:50:00
This 3 bedroom, 2.55 bathroom town home in Broad lands (Ashburn), Virginia is currently listed for $300,000, which is $70K less than its assessed value. It's a short-sale. It has 2100 sq ft of finished space; a one car garage; corian countertops and ceramic tile floors in the kitchen; hardwood floors on the main level; a deck and a fenced yard. Based on it's great overall condition and comps, this town home makes for a great primary residence or investment opportunity....
More About: Home , Sale , Town , Short

Thank You and Happy Holidays!
2007-12-21 18:00:00
We wanted to say thank you to all of you for checking out Loudoun Foreclosures and we wish everyone a happy and safe holiday season and a happy new year!
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Countrywide Gets More Lax On Short-sale Negotiations
2007-12-21 17:36:00
Countrywide Mortgage, like most lenders and banks, used to require borrowers to miss at least one mortgage payment prior to trying to negotiate a short-sale. This didn't leave much time nor opportunity to negotiate a short-sale because the foreclosure process typically starts after a borrower has missed two payments. But that may be changing. According to a few people we've spoken with within Countrywide, they are starting to allow borrowers to try and negotiate a short-sale before they've missed their...
More About: News , Sale , Short , Negotiations , Countrywide

New Bill Passed By Congress Makes Short-Sales Much More Appealing
2007-12-20 19:48:00
If you're a home owner facing foreclosure or thinking about negotiating a "short-sale" with your lender, Congress just made things a little easier for you. Congress just passed legislation called the Mortgage Forgiveness Debt Relief Act (HR 3648), which opens up a three-year window during which homeowners who end up in foreclosure or negotiate a short-sale won't have to pay taxes on up to $2M of forgiven debt. The Mortgage Forgivness Debt Relief Act changes the current law, which states...
More About: News , Sales , Short , Bill

Loudoun County Foreclosure/REO and Short-Sale Properties Sold - 2006 vs 200
2007-12-20 01:08:00
Here are 2006 versus 2007 sold numbers and percentages regarding Loudoun County foreclosure/REO and short-sale properties: Loudoun County REOs/Short -sales Sold* Total Sold* Percentage 2006 198 4601 4.3% 2007 740 3168 23.4% (2007 is ytd) *sold by contract date As you can see, Loudoun County has had a 373 percent increase in the number of foreclosure/REO and short-sale properties sold as well as a 544 percent increase in the percentage of foreclosure/REO and short-sale properties in relation to total properties for...
More About: Sale , Foreclosure , Statistics

Snapshot of Loudoun County Foreclosure/REO and Short-sale Properties For Sa
2007-12-19 18:48:00
Here is a snapshot of current foreclosure/REO and short-sale properties for sale in Loudoun County , Virginia as a percentage of total active listings: Mailing Address REO/Short -sale listings Total Active Listings Percentage Ashburn 117 452 26% Sterling 313 795 39% Leesburg 178 715 25% South Riding 34 138 25% Purcellville 23 126 18% Hamilton 3 46 7% Round Hill 16 49 33% Loudoun County 721 2543 28% We used the most active cities as examples though we can provide specific data...
More About: Sale , Foreclosure , Statistics

Lowest Priced Condo in Ashburn is a Foreclosure!
2007-12-18 23:33:00
This 1 bedroom, 1 bath bank owned foreclosure in University Center is now the lowest priced condo in all of Ashburn . It is on the first floor and is 725 finished square feet. The last 1/1 unit in this development sold for $184,000 net on 11/26/07. This unit has an assessed value of $210,000. Any way you look at it, this is a great value and will probably have multiple offers in no time. Let me know if you want...
More About: Foreclosure , Condo , Burn

US vs Loudoun County Foreclosure Statistics
2007-12-14 13:25:00
Though LoudounForeclosure s.com is focused on foreclosures/REO in Loudoun County , Virginia, we'd like to show you how the rest of the country is doing so you can put the market conditions in Loudoun County into perspective. Here's the latest report from the foreclosure research company, Foreclosures.com and how Loudoun County compares to the rest of the US (at bottom of post): Initial foreclosure filings rose 93 percent from January through November compared to the same period last year The number of...
More About: Statistics

Pre-Foreclosure Opportunity in Sterling
2007-12-13 18:29:00
This brick front townhouse in the very private Peace Plantation subdivision of Sterling is a pre-foreclosure that has already had the bank agree to a short sale. The listing price is $285,000 and any buyer will have $40,000 to $50,000 in instantly equity. It is ready to move in with only very minor cleaning needed. It is just a couple of yards from the W&OD Trail and about a mile from the Claude Moore Regional Park and Rec Center. It...
More About: Opportunity , Foreclosure , Unit

Condo Foreclosure Opportunity in Ashburn
2007-12-13 05:40:00
This 2 bedroom 1 bath groundfloor unit in the Westmaren complex of Ashburn Farm is priced $15,000 below the price of 1 bedroom units in the same complex. This REO property just came on the market today. Another 2/1 unit in this complex is priced at $225,000. The last 2/1 unit sold for $182,000 in November. The assessed value is $219,000. As is the case with most foreclosures, it does require some work to be done but at this price...
More About: Opportunity , Foreclosure , Condo , Unit