Virginia Beach Foreclosure Activity and Home Price Index

Home price appreciation was 0.81% with 333 new foreclosures.

Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Virginia Beach Foreclosure Geographical Comparison

February Virginia Beach foreclosure activity was lower 0.05% lower than national statistics and 0.06% higher than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned Virginia Beach homes fell in February from 140 homes in January to 104.. The number of Auctioned Virginia Beach homes increased from 149 to 225. The six month Virginia Beach foreclosure trend is rising.

Are you or someone you know behind on your mortgage payments and facing a Virginia Beach foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Virginia Beach home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more about selling your Virginia Beach home by visiting ButlerTeamHomes.com and ButlerTeamHomes.net.

What’s your Virginia Beach home worth?

Too good to be true? Perhaps. Buyers of foreclosed property, especially if it has been unoccupied and not maintained for some time, must be acutely aware of possible problems and trouble spots involved in such a sale and may have to realistically face some unpleasant facts. As Vince Mastronardi, president of On-Site Specialty Cleaning and Restoration, observes, “Buyers need to educate themselves about the potential pitfalls of purchasing distressed property. It’s not so much what damage occurred, but the sources of that damage and how long before the problem was addressed.”

A cautious buyer should look for signs which indicate that all is not well with a piece of Virginia Beach real estate.

1. The presence of mold. Once mold takes hold, it is almost impossible to get rid of. Look for places which have been excessively painted in an attempt to cover up mold.

2. Lack of heat for months in a home not properly winterized. Result? Burst pipes and water damage.

3. Hints of water damage. Peeling, bubbling, or discolored paint may occur as a result of moisture. Other evidence of water damage includes swelling in walls/ceilings, stains, and             a musty odor.

4. Blocked drains or pipes may lead to sewage problems.

5. Evidence of vandalism or break-ins. Signs of such activity include holes punched in walls and broken windows. Theft of appliances, fixtures, air conditioning/heating units,             pipes, and electrical wiring is also of concern.  Were the stolen items properly removed or carelessly ripped from their location?

6. Indications of furnace malfunction or soot damage. Telltale signs include black cobwebs, greasy grey residue on walls, or an oily odor.

7. Renovations in an older home. You would be wise to check to see if permits were issued. Was the work performed by a professional? Does it conform to required Virginia                     Beach real estate building codes? Was asbestos disturbed during construction?

8. Debris dumped in the yard. You will be required to remove such refuse in a timely (and possibly expensive) manner.

9. Occupation by uninvited critters. Wild animals often live in abandoned structures. Look for snakes, rodent infestation, and unexpected “nests.”

Obviously, you must insist on a thorough inspection of your Virginia Beach real estate to avoid buying a badly flawed foreclosure filled with unpleasant and costly surprises. Be sure to request air quality and surface testing; it is well worth the little extra it costs. You should also inquire about any corrections that have been made to address damages and talk to the company who performed the repairs.

By diligently doing your homework and actively anticipating problems, you may just find the foreclosure which fits your needs and is indeed a bargain!

Search all Virginia Beach real estate and homes for sale.

Virginia Beach Foreclosure Activity and Home Price Index

Home price appreciation was 0.0% with 316 new foreclosures.

 
Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records. 

Virginia Beach Foreclosure Geographical Comparison

September Virginia Beach foreclosure activity was lower 0.11% lower than national statistics and 0.04% higher than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned Virginia Beach homes increased in December with 81 Bank-Owned homes compared to 76 in November. The number of Auctioned Virginia Beach homes increased from 128 in November to 235 in December. The six month trend is an increase in Virginia Beach foreclosures.

Are you or someone you know behind on your mortgage payments and facing a Virginia Beach foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Virginia Beach home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more about selling your Virginia Beach home by visiting ButlerTeamHomes.com and ButlerTeamHomes.net.

What’s your Virginia Beach home worth?

The estimated median value of a Virginia Beach home was $234,234, down 7.01 percent from July 2008.

Virginia Beach Foreclosure Activity and Home Price Index

Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Virginia Beach Foreclosure Geographical Comparison

Virginia Beach foreclosure activity is lower 0.15% lower than national statistics and 0.07% lower than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned Virginia Beach homes increased in July with 107 Bank-Owned homes compared to 78 in June. The number of Auctioned Virginia Beach homes decreased slightly however with 122 auctions in July compared to 147 in June. The six month trend is a decrease in Virginia Beach foreclosures.

Are you or someone you know behind on your mortgage payments and facing a Virginia Beach foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Virginia Beach home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more aobut selling your Virginia Beach home by visiting ButlerTeamHomes.com and ButlerTeamHomes.net.

What’s your Virginia Beach home worth?

Virginia Beach Foreclosure Activity and Home Price Index

Virginia Beach foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Virginia Beach Foreclosure Geographical Comparison

Virginia Beach foreclosure activity is lower 0.10% lower than national statistics and 0.01% lower than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned fell by more than half in May. The number of Auctions increased slightly however, which is a precursor to the Bank taking over a foreclosed property. This means will will be seeing a larger number of foreclosures in the coming months.

Are you or someone you know behind on your mortgage payments and facing a Virginia Beach foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation.