In Williamsburg, James City County we are blessed with a low percentage of bank owned foreclosures on the market. In the past 12 months they accounted for only 9.3% of sales.
Other areas have been hit much harder. As a point of comparison in the rest of Hampton Roads, 25% of sales in March of 2012 were distressed sales ( REO, Foreclosures, Short sales). On average they were selling for a 41% discount from non distressed properties.
Prices for residential real estate, which plunged more than 50 percent in some markets after the housing bubble burst, appear to be stabilizing. Some real estate markets are better than others. But where are the best opportunities to buy discounted foreclosures? Which metropolitan areas offer homebuyers and investors the biggest discounts and the highest potential return on investment (ROI)?
RealtyTrac has selected the 10 best places in America to buy a foreclosure in 2012.
To compile their Top 10 list, they started with the nation’s 100 largest metropolitan statistical areas based on population. From there, the list was narrowed further by selecting market with at least 200 sales transactions in January 2012. The list was then pared down by selecting metros where the average foreclosure sales price was at least 30 percent below the average price of a non-foreclosure home.
You can search foreclosed , bank-owned homes/ REO in all of Hampton Roads VA with the links below. No registration required. FREE
Search Chesapeake VA Foreclosures
Search Hampton , Newport News Foreclosures
Search Isle of Wight Foreclosures
Search Portsmouth Foreclosures
Search Smithfield Foreclosures
Search Williamsburg Foreclosures
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This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. Here you can search homes for sale , active adult communities, 55+ communities, condos and townhomes , foreclosures/ REO, land, building lots, commercial property in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia I look forward to serving your real estate needs! Best, John |
psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg areas of Virginia or to sell your existing home.Filed under: virginia, virginia real estate |
Mr Williamsburg, Revolutionary ideas on real estate!Hampton Roads Virginia 
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