The Winchester, VA real estate market is changing monthly. The 2012 trend has seen a slight reduction in inventory, but there is a more positive trend evolving. The number of foreclosures and short sales have dropped considerably since the beginning of the year.
The current available listings above $20,000 in Winchester, VA total 470. Of that number, only 19 are foreclosures and 37 are short sales. That’s a serious drop in distressed properties as of July 2012. The opportunity for a buyer to buy a discounted property is quickly passing.
Even though the number of distressed properties have declined over the past six months, the number of short sales have surpassed the number of foreclosures. That’s an indicator that the homeowners who were trying to stick it out in hopes that the economy would recover have finally given in to the reality that the economy is still struggling, and so are they.
If you’re thinking about buying a short sale, or if you’re thinking about selling your home as a short sale, give us a call. We’ll put our talented Cornerstone staff to work for you.