Home Values Rise In Northern Virginia And Elsewhere As Do Foreclosures

By Editor · on December 9th, 2009 ·

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Home Values are Rising in Northern Virginia and elsewhere.  Foreclosures are rising too as reported by Diana O’lick of CNBC.  Home Buyer has increased over the summer thanks in part to the First Time Home Buyer Tax Credit.  This in-turn is helping Home Sellers.  Trulia reports that 22% of all Home Sellers reduced their asking price at least once.  Still, this is the lowest since the began this survey.  Home Sellers in the South which includes Virginia reduced their asking price by 19%. In the South Home Sellers reduced their asking price by 20%.

The average price reduction was 11% which is a 1% increase.  Home Prices are stabilizing and Home Owners are losing less equity.

$489 Billion was lost in 2009

3.6 Trillion was lost in 2008

48 out of 154 Markets saw Price Gains

This is according to Zillow.

Foreclosures are beginning to ramp up.  Will we see another dip in Home Prices before we hit the bottom?

Northern Virginia Real Estate Times

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This entry was posted on Wednesday, December 9th, 2009 at 8:19 am and is filed under Alexandria Virginia Real Estate, Arlington County Virginia Real Estate, Ashburn Virginia Real Estate - Loudoun County Virginia, Clarke County Virginia Real Estate, Fairfax County Virginia Real Estate, Fauquier County Virginia Real Estate, Frederick County Virginia Real Estate, Loudoun County Virginia Real Estate, Northern Virginia Real Estate, Prince William County Virginia Real Estate, Washington DC. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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