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Northern Virginia Real Estate Listings and Foreclosures

Definition

"Foreclosure" is the process where, after a buyer has failed to make the lender payments as agreed, and has been served with a notice of default, the property is sold by auction. The borrower still owns the property until the auctioneer actually says "sold", and may stop the sale at any time up until this point by paying what is owed plus applicable costs and/or interest. After the auction, if no one bids successfully on the property, the foreclosing lender (usually a bank), becomes the new owner. Property owned by the lender/bank after a foreclosure is called "Real Estate Owned".

Value

Typically, foreclosures can be very reasonable values, with pricing at or below market value. Banks or other lenders are usually motivated to unload the property as quickly as possible, to avoid carrying costs (i.e. mortgage payments on an unoccupied dwelling). Banks will work hard with auctioneers, buyers and their representatives, including Real Estate Agents, to reach a quick and satisfactory deal.

The current difficulties in the housing market have led to a rapid increase in foreclosed properties in the Northern Virginia, DC and Maryland real estate inventories. Check my updated Northern Virginia real estate listings (including foreclosure listings), and Greater Washington DC foreclosure properties to the right.

 

Current Northern Virginia Real Estate and Foreclosure Listings

MLS PW6857791 Location Details
1810 FORT PULASKI CT
DUMFRIES VA
Subdivision: WILLIAMSTOWN
Beds: 3
Baths: 3
Sq Ft: 0
List Price: $64,500
MLS # PW6857791
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MLS PW6903809 Location Details
3576 WHARF LN
TRIANGLE VA
Subdivision: PORT-O-DUMFRIES
Beds: 3
Baths: 2
Sq Ft: 0
List Price: $89,900
MLS # PW6903809
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MLS PW6910820 Location Details
15093 MILL SPRING DR
DUMFRIES VA
Subdivision: MONTCLAIR
Beds: 3
Baths: 3
Sq Ft: 0
List Price: $159,000
MLS # PW6910820
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MLS PW6908096 Location Details
15819 LAZY DAY LN
DUMFRIES VA
Subdivision: MONTCLAIR
Beds: 4
Baths: 3
Sq Ft: 0
List Price: $249,500
MLS # PW6908096
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MLS PW6858655 Location Details
16281 ASPEN TRAIL CT
TRIANGLE VA
Subdivision: GRAHAM PARK M
Beds: 5
Baths: 4
Sq Ft: 0
List Price: $299,500
MLS # PW6858655
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MLS FX6942000 Location Details
6227 ABBOTTSBURY ROW
ALEXANDRIA VA
Subdivision: KINGSTOWNE
Beds: 3
Baths: 4
Sq Ft: 0
List Price: $374,900
MLS # FX6942000
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MLS AR6897901 Location Details
401 FILLMORE ST
ARLINGTON VA
Subdivision: PENROSE
Beds: 4
Baths: 3
Sq Ft: 0
List Price: $549,900
MLS # AR6897901
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MLS FX6948626 Location Details
7108 POINT REPLETE CIR
FORT BELVOIR VA
Subdivision: COOK INLET
Beds: 4
Baths: 4
Sq Ft: 0
List Price: $564,999
MLS # FX6948626
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