« A Foundation of Investing in Real Estate | Main | Articles of Interest about National Real Estate news »
Articles of Interest about Northern Virginia Real Estate news
By robertearl | March 24, 2008
Articles of Interest about Northern Virginia Real Estate news and the overall real estate marketplace:
Alexandria Proposes Increase in Real Estate Tax
Alexandria is the latest northern Virginia jurisdiction to consider a real estate tax increase.
The City Council voted yesterday to propose a tax increase of up to 3 cents. That could raise the tax rate to 86 cents per $100 of assessed valuation.more….
Northern Virginia Foreclosures Form ‘Ring of Fire’
Chain of Housing Crisis Hot Spots Indicates Disparity in Market Downturn (Washington Post, March 23, 2008; Page C06)
As the surge in foreclosures continues and banks repossess more and more houses, property values are declining — but not everywhere, and not by equal measure, Thompson and other real estate agents said. No part of the region is untouched, but most foreclosures are clustered in certain neighborhoods and several troubled Zip codes. Rather than a sea of slumping housing, Northern Virginia has an island chain of hot spots.more….
Falls Church Turns to the Future
Council Gets Ready To Vote on City Center Redevelopment Plan
Falls Church, long considered the hallway between Baileys Crossroads and Tysons Corner, wants people to stop there instead of driving through.
This week, the city of 11,000 should find out whether that could happen. After public hearings tonight and Thursday, the Falls Church City Council will vote on an ambitious plan to remake its aging downtown, a goal of city leaders for nearly eight years. more…
Real estate prosecutions increase
The numbers of investigations, prosecutions and convictions are rising across the nation as home sales fall and foreclosures increase.
Nationwide, lenders and other financial institutions filed 46,717 reports of attempted or suspected mortgage fraud to authorities between September 2006 and October 2007, up 32 percent from the 2005-06 fiscal year and nearly seven times as many as in the 2002-03 fiscal year, according to records compiled by the U.S. Treasury Department.more…
How to Buy REOs, Bank Owned and Foreclosure Homes
An REO property is a home which has been acquired by a lending institution through a foreclosure process. Basically they are homes which mortgage companies have take possession of after an unsuccessful foreclosure auction. Foreclosure auctions on homes are nearly always unsuccessful because the minimum bid on these properties has to cover the outstanding balances owed to any lien holder to the property. This would include the loan balance, any accrued interest, fees for attorneys and costs incurred during foreclosure. All these things nearly always amount to more than the property is worth. Once the minimum bid at a foreclosure auction is not met possession of the property goes to the mortgage holder in the form of an REO.….
Bank-owned homes are real estate’s new gold rush
For thousands of people shut out of the housing market as prices doubled between 2001 and 2006, bank-owned homes are real estate’s new gold rush. With more than 10,000 foreclosures last year in the eight-county capital region, the plentiful inventory of bank-owned homes has fueled a mini-boom in buying. ….
Topics: Alexandria VA Real Estate, Buy a Home, Northern Virginia Real Estate, Real Estate Tips, Sell your Home |