Charlottesville Foreclosure Update
There are currently 9 foreclosure properties in Charlottesville right now. That's about 1 in every 1,874 houses. Charlottesville is rated as a low foreclosure area for now.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Showing posts with label central virginia foreclosure. Show all posts
Showing posts with label central virginia foreclosure. Show all posts
Monday, September 14, 2009
Charlottesville Foreclosure Update
Charlottesville Foreclosure Update
There are currently 9 foreclosure properties in Charlottesville right now. That's about 1 in every 1,874 houses. Charlottesville is rated as a low foreclosure area for now.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
There are currently 9 foreclosure properties in Charlottesville right now. That's about 1 in every 1,874 houses. Charlottesville is rated as a low foreclosure area for now.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Virginia Foreclosure Update
Virginia Foreclosure Update
Here are the overall stats for the state of Virginia:
29,644 Foreclosure Homes
$246,031 Average Foreclosure Sales Price
Virginia foreclosures currently ranks 19 out of 50 states for foreclosure filings according to Realtytrac.com
Take notice of the average sales price for these.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Here are the overall stats for the state of Virginia:
29,644 Foreclosure Homes
$246,031 Average Foreclosure Sales Price
Virginia foreclosures currently ranks 19 out of 50 states for foreclosure filings according to Realtytrac.com
Take notice of the average sales price for these.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Virginia Foreclosure Update
Virginia Foreclosure Update
Here are the overall stats for the state of Virginia:
29,644 Foreclosure Homes
$246,031 Average Foreclosure Sales Price
Virginia foreclosures currently ranks 19 out of 50 states for foreclosure filings according to Realtytrac.com
Take notice of the average sales price for these.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Here are the overall stats for the state of Virginia:
29,644 Foreclosure Homes
$246,031 Average Foreclosure Sales Price
Virginia foreclosures currently ranks 19 out of 50 states for foreclosure filings according to Realtytrac.com
Take notice of the average sales price for these.
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Tuesday, August 18, 2009
New Home Construction Declines in July
New home construction unexpectedly declined last month - Do we really think the experts know what they are talking about?
New Home Construction Unexpectedly Declines in July
By Renae Merle
Washington Post Staff Writer
Tuesday, August 18, 2009 11:51 AM
New-home construction unexpectedly declined last month, despite continued improvement in the market for single-family homes, according to government data released Tuesday.
Housing starts fell by 1 percent from June's level, to an annualized rate of 581,000. compared with June Construction was down 37.7 percent from a year earlier, according to the Commerce Department data. Analysts had expected construction starts to increase.
But those figures were dragged down by a 16.7 percent month-to-month drop in construction of multi-unit homes like apartment buildings, traditionally a volatile market. This market continues to be hobbled by the difficultly in securing financing and competition from homeowners unable to sell their properties who then decide to rent their homes, said David Crowe, an economist for the National Association of Home Builders.
Meanwhile, construction of single-family homes rose 1.7 percent compared with June, to an annual pace of 490,000 units. That is the fifth consecutive monthly increase in the single-family market. In another hopeful sign for that market, while construction permits were down overall, they rose 5.8 percent for single-family homes.
The housing market has been buoyed by falling home prices and an $8,000 first-time-buyer tax credit, analysts said. The uptick in permits, for example, reflects growing confidence among builders that the overall market is improving, Crowe said. "That kind of increase suggests that some momentum for the rest of the market is beginning," he said.
The Northeast had the biggest increase in single-family-home construction, 14 percent, while single-family starts were up modestly in the West and down in the Midwest. In the South, which includes the Washington region, construction was flat, up 0.8 percent.
"Construction activity remains low, historically speaking. But evidence continues to mount that the worst of the declines for this cycle are behind us," Mike Larson, real estate analyst at Weiss Research, said in a research note. "Still, that doesn't mean we're going to see a huge resurgence in construction. After all, buyers still have plenty of homes to choose from, and distressed and foreclosed properties will continue to flood the market well into 2010."
Separately, the Producer Price Index -- the prices paid by business to make goods -- was down .9 in July, compared to an increase of 1.8 percent in June, the Labor Department said. Factoring out the volatile food and energy prices, core PPI was down .1 for July.
Producer prices was down a whopping 6.8 percent over the past year, which is worrisome. It marked the biggest decrease in more than 60 years of record-keeping.
Staff writer Frank Ahrens contributed to this report.
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/18/AR2009081801537_pf.html
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
New Home Construction Unexpectedly Declines in July
By Renae Merle
Washington Post Staff Writer
Tuesday, August 18, 2009 11:51 AM
New-home construction unexpectedly declined last month, despite continued improvement in the market for single-family homes, according to government data released Tuesday.
Housing starts fell by 1 percent from June's level, to an annualized rate of 581,000. compared with June Construction was down 37.7 percent from a year earlier, according to the Commerce Department data. Analysts had expected construction starts to increase.
But those figures were dragged down by a 16.7 percent month-to-month drop in construction of multi-unit homes like apartment buildings, traditionally a volatile market. This market continues to be hobbled by the difficultly in securing financing and competition from homeowners unable to sell their properties who then decide to rent their homes, said David Crowe, an economist for the National Association of Home Builders.
Meanwhile, construction of single-family homes rose 1.7 percent compared with June, to an annual pace of 490,000 units. That is the fifth consecutive monthly increase in the single-family market. In another hopeful sign for that market, while construction permits were down overall, they rose 5.8 percent for single-family homes.
The housing market has been buoyed by falling home prices and an $8,000 first-time-buyer tax credit, analysts said. The uptick in permits, for example, reflects growing confidence among builders that the overall market is improving, Crowe said. "That kind of increase suggests that some momentum for the rest of the market is beginning," he said.
The Northeast had the biggest increase in single-family-home construction, 14 percent, while single-family starts were up modestly in the West and down in the Midwest. In the South, which includes the Washington region, construction was flat, up 0.8 percent.
"Construction activity remains low, historically speaking. But evidence continues to mount that the worst of the declines for this cycle are behind us," Mike Larson, real estate analyst at Weiss Research, said in a research note. "Still, that doesn't mean we're going to see a huge resurgence in construction. After all, buyers still have plenty of homes to choose from, and distressed and foreclosed properties will continue to flood the market well into 2010."
Separately, the Producer Price Index -- the prices paid by business to make goods -- was down .9 in July, compared to an increase of 1.8 percent in June, the Labor Department said. Factoring out the volatile food and energy prices, core PPI was down .1 for July.
Producer prices was down a whopping 6.8 percent over the past year, which is worrisome. It marked the biggest decrease in more than 60 years of record-keeping.
Staff writer Frank Ahrens contributed to this report.
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/18/AR2009081801537_pf.html
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
New Home Construction Declines in July
New home construction unexpectedly declined last month - Do we really think the experts know what they are talking about?
New Home Construction Unexpectedly Declines in July
By Renae Merle
Washington Post Staff Writer
Tuesday, August 18, 2009 11:51 AM
New-home construction unexpectedly declined last month, despite continued improvement in the market for single-family homes, according to government data released Tuesday.
Housing starts fell by 1 percent from June's level, to an annualized rate of 581,000. compared with June Construction was down 37.7 percent from a year earlier, according to the Commerce Department data. Analysts had expected construction starts to increase.
But those figures were dragged down by a 16.7 percent month-to-month drop in construction of multi-unit homes like apartment buildings, traditionally a volatile market. This market continues to be hobbled by the difficultly in securing financing and competition from homeowners unable to sell their properties who then decide to rent their homes, said David Crowe, an economist for the National Association of Home Builders.
Meanwhile, construction of single-family homes rose 1.7 percent compared with June, to an annual pace of 490,000 units. That is the fifth consecutive monthly increase in the single-family market. In another hopeful sign for that market, while construction permits were down overall, they rose 5.8 percent for single-family homes.
The housing market has been buoyed by falling home prices and an $8,000 first-time-buyer tax credit, analysts said. The uptick in permits, for example, reflects growing confidence among builders that the overall market is improving, Crowe said. "That kind of increase suggests that some momentum for the rest of the market is beginning," he said.
The Northeast had the biggest increase in single-family-home construction, 14 percent, while single-family starts were up modestly in the West and down in the Midwest. In the South, which includes the Washington region, construction was flat, up 0.8 percent.
"Construction activity remains low, historically speaking. But evidence continues to mount that the worst of the declines for this cycle are behind us," Mike Larson, real estate analyst at Weiss Research, said in a research note. "Still, that doesn't mean we're going to see a huge resurgence in construction. After all, buyers still have plenty of homes to choose from, and distressed and foreclosed properties will continue to flood the market well into 2010."
Separately, the Producer Price Index -- the prices paid by business to make goods -- was down .9 in July, compared to an increase of 1.8 percent in June, the Labor Department said. Factoring out the volatile food and energy prices, core PPI was down .1 for July.
Producer prices was down a whopping 6.8 percent over the past year, which is worrisome. It marked the biggest decrease in more than 60 years of record-keeping.
Staff writer Frank Ahrens contributed to this report.
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/18/AR2009081801537_pf.html
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
New Home Construction Unexpectedly Declines in July
By Renae Merle
Washington Post Staff Writer
Tuesday, August 18, 2009 11:51 AM
New-home construction unexpectedly declined last month, despite continued improvement in the market for single-family homes, according to government data released Tuesday.
Housing starts fell by 1 percent from June's level, to an annualized rate of 581,000. compared with June Construction was down 37.7 percent from a year earlier, according to the Commerce Department data. Analysts had expected construction starts to increase.
But those figures were dragged down by a 16.7 percent month-to-month drop in construction of multi-unit homes like apartment buildings, traditionally a volatile market. This market continues to be hobbled by the difficultly in securing financing and competition from homeowners unable to sell their properties who then decide to rent their homes, said David Crowe, an economist for the National Association of Home Builders.
Meanwhile, construction of single-family homes rose 1.7 percent compared with June, to an annual pace of 490,000 units. That is the fifth consecutive monthly increase in the single-family market. In another hopeful sign for that market, while construction permits were down overall, they rose 5.8 percent for single-family homes.
The housing market has been buoyed by falling home prices and an $8,000 first-time-buyer tax credit, analysts said. The uptick in permits, for example, reflects growing confidence among builders that the overall market is improving, Crowe said. "That kind of increase suggests that some momentum for the rest of the market is beginning," he said.
The Northeast had the biggest increase in single-family-home construction, 14 percent, while single-family starts were up modestly in the West and down in the Midwest. In the South, which includes the Washington region, construction was flat, up 0.8 percent.
"Construction activity remains low, historically speaking. But evidence continues to mount that the worst of the declines for this cycle are behind us," Mike Larson, real estate analyst at Weiss Research, said in a research note. "Still, that doesn't mean we're going to see a huge resurgence in construction. After all, buyers still have plenty of homes to choose from, and distressed and foreclosed properties will continue to flood the market well into 2010."
Separately, the Producer Price Index -- the prices paid by business to make goods -- was down .9 in July, compared to an increase of 1.8 percent in June, the Labor Department said. Factoring out the volatile food and energy prices, core PPI was down .1 for July.
Producer prices was down a whopping 6.8 percent over the past year, which is worrisome. It marked the biggest decrease in more than 60 years of record-keeping.
Staff writer Frank Ahrens contributed to this report.
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/18/AR2009081801537_pf.html
Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com
Friday, June 26, 2009
How long would it take to evict former owner (but current occupant) of house acquired in short sale, in VA?
A bank has approved our offer for a short sale of a home in pre-foreclosure. The current owner of the property has told us he will only move forward with settlement if he can have two months free rent back while he finds someplace to go. If it came down to it, and I accepted this offer, to what lengths could the current owner extend his stay beyond those two months–through filing bankruptcies, or other legal means that could prevent me from moving forward with an eviction? Clearly, I am not going to move forward unless I KNOW that I can control when he vacates the property. How long could he potentially "squat", once I settle on the house, before I could have him evicted? Again–for you legal experts out there–this is in the state of Virginia.
If he stays beyond the two months you can take eviction action against him - the legal term is actually an "Unlawful Detainer" action. In normal cases, it can be completed in 2-3 weeks. However, if he fights it in court, he can drag it out another 2-3 months. In nightmare cases I have seen some cases where the evictee fought it for 18 months befroe finally beeing locked out by the Sheriff.
General Rule of thumb in foreclosure and short sale purchases: NEVER allow the old owner to stay in the property. NEVER!
A much better idea is to pay for their first 2-4 months rent at another property - ie he must move - but you will pay for the deposit and two months rent for another place if he is out of the house in time. Then, if there is a problem it is someone else's problem.
Good luck
Rob Alley, Realtor of The Avery Group at Roy Wheeler
540-250-3275 (cell)
roballey@roywheeler.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
If he stays beyond the two months you can take eviction action against him - the legal term is actually an "Unlawful Detainer" action. In normal cases, it can be completed in 2-3 weeks. However, if he fights it in court, he can drag it out another 2-3 months. In nightmare cases I have seen some cases where the evictee fought it for 18 months befroe finally beeing locked out by the Sheriff.
General Rule of thumb in foreclosure and short sale purchases: NEVER allow the old owner to stay in the property. NEVER!
A much better idea is to pay for their first 2-4 months rent at another property - ie he must move - but you will pay for the deposit and two months rent for another place if he is out of the house in time. Then, if there is a problem it is someone else's problem.
Good luck
Rob Alley, Realtor of The Avery Group at Roy Wheeler
540-250-3275 (cell)
roballey@roywheeler.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
How long would it take to evict former owner (but current occupant) of house acquired in short sale, in VA?
A bank has approved our offer for a short sale of a home in pre-foreclosure. The current owner of the property has told us he will only move forward with settlement if he can have two months free rent back while he finds someplace to go. If it came down to it, and I accepted this offer, to what lengths could the current owner extend his stay beyond those two months–through filing bankruptcies, or other legal means that could prevent me from moving forward with an eviction? Clearly, I am not going to move forward unless I KNOW that I can control when he vacates the property. How long could he potentially "squat", once I settle on the house, before I could have him evicted? Again–for you legal experts out there–this is in the state of Virginia.
If he stays beyond the two months you can take eviction action against him - the legal term is actually an "Unlawful Detainer" action. In normal cases, it can be completed in 2-3 weeks. However, if he fights it in court, he can drag it out another 2-3 months. In nightmare cases I have seen some cases where the evictee fought it for 18 months befroe finally beeing locked out by the Sheriff.
General Rule of thumb in foreclosure and short sale purchases: NEVER allow the old owner to stay in the property. NEVER!
A much better idea is to pay for their first 2-4 months rent at another property - ie he must move - but you will pay for the deposit and two months rent for another place if he is out of the house in time. Then, if there is a problem it is someone else's problem.
Good luck
Rob Alley, Realtor of The Avery Group at Roy Wheeler
540-250-3275 (cell)
roballey@roywheeler.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
If he stays beyond the two months you can take eviction action against him - the legal term is actually an "Unlawful Detainer" action. In normal cases, it can be completed in 2-3 weeks. However, if he fights it in court, he can drag it out another 2-3 months. In nightmare cases I have seen some cases where the evictee fought it for 18 months befroe finally beeing locked out by the Sheriff.
General Rule of thumb in foreclosure and short sale purchases: NEVER allow the old owner to stay in the property. NEVER!
A much better idea is to pay for their first 2-4 months rent at another property - ie he must move - but you will pay for the deposit and two months rent for another place if he is out of the house in time. Then, if there is a problem it is someone else's problem.
Good luck
Rob Alley, Realtor of The Avery Group at Roy Wheeler
540-250-3275 (cell)
roballey@roywheeler.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
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