Del Ray Alexandria VA Short Sales And Foreclosure Report For May 2011

Del Ray Alexandria VA Short Sales And Foreclosure Report For May 2011

Del Ray Short Sales

Del Ray Alexandria VA real estate remains insulated from the negative market press that is reported from the rest of the country. With the increasing gas prices, getting 'close in' in efforts to minimize the northbound commute is a top priority for many Alexandria homebuyers.

Del Ray area homeowners would be happy to know that their property values are safe, at least for now. Currently, there are no active short sales for sale in Del Ray.

But what's currently under contract? Now there are seven homes under contract in Del Ray that are short sales, and the list prices range from $160,000 to $345,000. The average days on the market for these homes was 35.

To date, there have been only five Del Ray short sales that have closed since January 2011.

Del Ray Foreclosures

Currently there are two active foreclosures for sale in Del Ray. They range in price from $279,900 to $474,600. Under contract, there are only four homes, ranging in price from $259,900 to $343,900. The average days on the market for the foreclosures that are under contract was 49 days. So, based on the market statistics, the bank owned-foreclosures have stayed on the market longer than the seller-owned short sales.

To date, there have been five Del Ray foreclosures that have closed since January 2011, according to MLS data. Note: This does not include the trustee sales at the courthouse, or the public auctions not listed in MLS.

The Del Ray real estate market hasn't even seen large double-digit volume in distressed sales; only 10 distressed sales have sold and settled in 2011. That means that the property values can remain strong, and if you're looking to buy a short sale or foreclosure in Del Ray, you should likely prepare yourself to compete with other buyers. BUT, can you still get a deal on a foreclosure? According to MLS data, the average Del Ray foreclosure sold for 96.12% of the final list price, whereas the average Del Ray short sale sold for 96.35% of the final list price, so low-balling doesn't seem to get results.

See Also: Del Ray Condos For Sale

See Also: Del Ray Duplexes, Townhomes, and Rowhouses For Sale

See Also: Del Ray Bungalows For Sale

See Also: Del Ray Luxury Homes For Sale

Copyright 2011. All rights reserved. This article may not be reproduced without the expressed written consent of Tamara Inzunza. Photographs copyright Tamara Inzunza.

Note: Tamara Inzunza is a Certified Short Sale Specialist working in the real estate office of McEnearney Associates, Inc. Realtors in Old Town Alexandria. McEnearney Associates, Realtors is #1 in sales in Old Town Alexandria and the City of Alexandria.

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Buying or Selling Real Estate in Del Ray or Old Town Alexandria VA? Looking for short sales in Alexandria Virginia? Contact Tamara Inzunza, Associate Broker of McEnearney Associates, Inc. Realtors to list and sell your home, or purchase a new home. I specialize in real estate homes for sale in the beautiful Alexandria VA communities of Old Town Alexandria, Del Ray, Kingstowne, and Manchester Lakes including condos, townhomes, and single-family homes for sale.

Call me at 703-623-8759.

Be sure to visit my website where you can Search MLS Listings of ALL Homes For Sale in Alexandria VA at www.MovingToNova.com/. If you're thinking about selling and would like to know how much your Alexandria VA home is worth, visit http://www.confidentialcma.com/ for a complimentary market analysis of your home. Not selling but curious about the homes for sale in your neighborhood, visit http://www.movingtonova.info/ for FREE Market Snapshot reports and stay informed whenever a home is listed or sold in your neighborhood.

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