There were 1,95 Virginia Beach foreclosure homes for sale with 285 new foreclosures in August 2009. The average selling price of a Virginia Beach home was $276,664 in August and the average foreclosure selling price was $226,847, a 18% savings of $49,817, according to RealtyTrac.com.

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 was lower 0.12% lower than national statistics and 0.02% lower than Virginia statistics.

Virginia Beach Foreclosure Activity by Month

The number of Bank-Owned Virginia Beach homes increased in August with 115 Bank-Owned homes compared to 107 in July. The number of Auctioned Virginia Beach homes increased with 170 auctions in August compared to 122 in July. 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?