According to the July Foreclosure Market Report just released by Realty Trac, the leading online foreclosure market report, Virginia is now among the 10 states with the most foreclosures. The three states with the highest foreclosure rates are Nevada, California, and Florida. The additional states in the top ten are Arizona, Ohio, Gerogia, Michigan, Colorado, Utah and Virginia.
In Virginia the areas with the most foreclosures are Northern Virginia, Prince William County and Fredericksburg. We are lucky that the Charlottesville area, although we are seeing an increase in foreclosure activity, is still seeing much less than many parts of the country.
However some foreclosures are starting to come onto our local market. These can present a valuable market for the savy buyer.
To read the entire article click here.
Contact me if you would like to discuss the possibility of finding a foreclosure or would like information on the Charlottesville real estate market.
Click here if you would like to search all of the homes currently on the market.