Is The Real Estate Market Really What You Think?

Prince William County Virginia: Statistically, our County seems to be chock full of available houses...a veritable glutt of properties are on the market. But...are they really on the market? When a house is on the market, for sale, the implication is that if a purchaser chooses that property, and makes an offer to purchase the property, in writing, at the list price, the property will go under contract.

This is simply not the case with many of the properties in Prince William County. The vast majority of properties that are listed in MLS are "Short Sales". Now, you may well know what a short sale is. If so, you've no need to read further. If not...A short sale is a property that is in limbo. The property "owner" can no longer make the monthly payments, but the lack of equity in the house makes it impossible for the "owner" to sell, without paying their lender some amount of money, between what they owe and the amount the property is currently worth. Unfortunately, they typically do not posess this difference between current loan amount and value. Therefore, they are SHORT of the full amount they owe.

This situation is usually a nightmare for the property owner, and for the potential purchaser as well. If you are interested in buying or selling property in Prince William County Virginia, this is a market in which you absolutely must have an expert to represent you. If you have any questions about our market or anything in regards to Real Estate or Equity building, we would love to hear from you! Give us a call at 703.791.3884 or email Peggy@BassetteHomes.com

Prince William County Virginia Supervisors Back Affordable Housing Plan!

An article today in the Potomac News stated that Prince William County supervisors have unanimously backed a plan to help county employees buy foreclosed homes.
Officials say the program would help address both problems from foreclosures and a lack of affordable housing. They say it would cost the county almost nothing.
Under the program, a county employee would select a house to buy and make arrangements with a bank participating in the program. The county would buy a 10 year certificate of deposit that the bank would use to fund the mortgage and provide the buyer a lower interest rate.
Many details of the program remain to be worked out, however. If you are interested in purchasing a foreclosed home, we are experts. Please contact us at 703.791.3884.

Spring in Prince William County Virginia

Spring in Virginia is such a joyful season! We are fortunate to live on a farm in quaint and charming Nokesville. This morning our ferrier arrived to give the horses their April pedicures. The birds greeted the day with song, and our Basset Hound waited impatiently for the hoof trimmings (a canine delicacy!) while our cat stalked mice in the hay.

The fruit trees are in bloom, our yard is awaiting it's first real cutting, and the leaf buds create a pale green haze on the surrounding trees. Prince William County is an oasis of peace in a stress filled world. If you're searching for somewhere to call home, give us a call. We would love to have the opportunity to help you to locate YOUR oasis! 703.791.3884