Comments on: Foreclosures Plummet In Prince William County

By: Mando

Mando — Tue, 17 Jun 2008 12:17:43 +0000

Whadoyaknow!

3 days later, and MJM picks up the story. Looks like good news to me!

http://www.insidenova.com/isn/news/local/article/foreclosures_drop_again_in_prince_william_county/17125/

By: anona

anona — Mon, 16 Jun 2008 20:13:08 +0000

As a real estate agent I can tell you that it’s probably not $900 anymore and much closer to $700 based on what I’ve seen sold in the county.

By: Harry

Harry — Mon, 16 Jun 2008 16:47:48 +0000

Because 61% of the homes on the market are foreclosures. I just picked up one that sold three years ago for $357k for $188k. The short sales still abound, talked to 2 realtors, there’s another 1,239 homes up on short sales. So things are not pretty in PWC, but it only matters if you’re buying or selling. When I bought my home in PWC in 1994 for $450k, it did not appreciate a nickle, according to the assesment until 2001. Between 2001-2006 it increased about 250% to about $1.1 million, it’s now down to $900k, but I’m not selling so it’s only paper!

By: Taco Truck Ted

Taco Truck Ted — Sat, 14 Jun 2008 20:15:51 +0000

This in turn should cause property values to maintain if not increase bucking the national trend! Good for you guys!

By: anona

anona — Sat, 14 Jun 2008 19:47:55 +0000

There was a PM article today about PWC employees and teachers clamoring for the new mortgage help to move from outlying areas into the county to be closer to work. This will also help with the turnaround and will put firefighters, teachers, and police officers closer to where they work…a win win for the entire county.

By: Benton

Benton — Sat, 14 Jun 2008 15:45:58 +0000

Don’t know if it is yet. Chair and Greg still tweaking it.

By: taco truck ted

taco truck ted — Sat, 14 Jun 2008 02:40:33 +0000

Total Units Sold YoY: 68%

I find this absolutely incredible. Now how long has your illegal alien resolution been in effect?

By: taco truck ted

taco truck ted — Sat, 14 Jun 2008 02:37:07 +0000

Year over Year as in May 2008 vs May 2007

By: Dolph

Dolph — Sat, 14 Jun 2008 01:20:08 +0000

TTT,

What does YoY mean?

By: taco truck ted

taco truck ted — Fri, 13 Jun 2008 23:40:41 +0000

May MRIS

Prince William County, VA

* Median Price: $256K
* Median Sales Price YoY: -31.7%
* Average Sales Price YoY: -30.1%
* Total Units Sold YoY: 68%
* Average Days on Market YoY: 9.4%
* Active Listings YoY: 3%
* Months Supply: 7.7

By: taco truck ted

taco truck ted — Fri, 13 Jun 2008 23:39:23 +0000

May MRIS

Prince George’s County, MD

* Median Price: $285K
* Median Sales Price YoY: -12.3%
* Average Sales Price YoY: -10.4%
* Total Units Sold YoY: -48%
* Average Days on Market YoY: 61%
* Active Listings YoY: 66%
* Months Supply: 20

By: Lafayette

Lafayette — Fri, 13 Jun 2008 20:32:21 +0000

Whitney,
Thanks for the clarification. I’m glad you pointed out where Fairfax ranked in all of this mess. I knew they had to be up there.

By: Whitney Blake

Whitney Blake — Fri, 13 Jun 2008 20:17:48 +0000

Just to clarify Greg’s comments about Prince William ranking first and Loudoun ranking second…these rankings pertain to the foreclosure rate, that is, the percentage of households that are facing foreclosure compared with the total number of households (not the number of foreclosure filings in the county). In Prince William, one in 99 households is facing foreclosure filings, and in Loudoun, one in 199 households. In Fairfax, one in 319 households are facing foreclosure, making it the jurisdiction with the 8th highest foreclosure rate in Virginia.

By: Taco Truck Ted

Taco Truck Ted — Fri, 13 Jun 2008 19:23:30 +0000

I still do not think PWC is even close to the foreclosure nightmare PGC in Maryland has become! Hurray for no doc sub-prime dishwasher/landscaper/taco makers who clear $100K per year!