Foreclosures

Carolyn Capalbo writes about the Northern Virginia Real estate market and what the high number of foreclosures, REO properties and short sales mean to buyers and sellers in the area.

Found 5 blog entries about Foreclosures.

My recent certification as a Certified Distressed Property Expert gives me added insight into foreclosure avoidance and short sales.  My extensive training in short sales will help direct homeowners to much better alternatives to foreclosure.  Please see below for the public service announcement for more details.

FOR RELEASE: IMMEDIATE

DATE: DEC 21, 2009

CAROLYN CAPALBO EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Carolyn Capalbo of Keller Williams Realty of Manassas, VA has earned the prestigious Certified Distressed Property Expert (CDPE) designation having completed extensive training in foreclosure avoidance and short sales.  This is invaluable expertise to offer at a time when the area is ravaged by “distressed”

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That's an alarming number.  What does this mean to me and my neighborhood?  While this is a national number, this could impact our local communities greatly.  With over 12% of all mortgages in the US currently delinquent, and foreclosures are happening at a rate of one every 13 seconds, homeowners need to be concerned about another potential shift in market values.  In our area of Northern Virginia, we have seen a recent shift from a Buyer's market to a Seller's market.  Multiple offers and escalating prices have dominated our marketplace over the past 90 days.  Will an increase in foreclosure inventory be met with an available, ready, willing and able Buyer Pool?  That is the question.  Let me know what you…
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Have you ever noticed that everyone seems happy in a Seller’s Market and miserable in a Buyer’s Market? In a Seller’s market there is a rush and a euphoric atmosphere. Sellers are thrilled with the value of their home. Buyers are overjoyed when they are the winning bid on a home. Caution is thrown to the wind. Basic principles and fundamentals are often overlooked. Buyers stretch beyond their means anticipating continued price appreciation, and investors buy anything they can.

In a buyers market we find the opposite. Many sellers truly can’t sell their homes. They may owe far more than the current market value of the home. Perhaps, they feel angry or that they are “giving their house away.” Short sales and foreclosures increase and pull down market

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The current Manassas Real Estate market is challenging and it's hard to know whether it's time to buy, sell, or hold your property. There are large numbers of homes in foreclosure and property values are under pressure. We've experienced at least a 20% decline in property values since 2006, and we continue to experience price uncertainty. Many homeowners and investors are asking some tough questions

  • What's happening in this market?
  • How long will it last?
  • What is this Financial Crisis or Credit Crunch and how does it impact me?
  • How is this market and the Financial Crisis impacting my property values?
  • Is it time to unload my property and SELL NOW?
  • Is it time to look for other investments, elsewhere?
  • Is it
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Here’s wishing everyone a prosperous 2008. 2007 was yet another volatile year for Northern Virginia real estate. Foreclosures and pre-foreclosure inventory has soared and continues to rise. I anticipate additional foreclosure activity as adjustable rate mortgages reset in record numbers.

Western Prince William County experienced record growth in 2005 and 2006, many of these homeowners purchased these homes with adjustable rate mortgage products. As these mortgages adjust and reset, many homeowners are finding themselves unable to afford the increased payment. They may be unable to sell through normal channels due to the decline in market values. Pre-foreclosure options may include loan refinancing, loan renegotiation, or short sale possibilities.

As an…
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