Comments on: Question from a reader regarding Charlottesville area foreclosures

By: Shelley

Shelley — Wed, 28 May 2008 00:13:50 +0000

One of the reasons you are not seeing a lot of them is because PHA is doing a wonderful job helping owners in this situation. They have been able to stop the foreclosures and develop workout deals with some lenders.

By: Keli

Keli — Wed, 28 May 2008 00:11:57 +0000

There is an issue with foreclosure in the Charlottesville area. All you have to do is check the newspaper for the sales listed by the trustees. We might not be like N. VA or other states, but they are still happening. There are tons of people that are on the brink of foreclosure, 3 or 4 months behind, if the trustees were not backlogged, you would see more surfacing.

By: Rob

Rob — Tue, 20 May 2008 16:15:07 +0000

When the property becomes bank owned, you generally pay more. There are a lot more foreclosures in Charlottesville than people realize. My group did 4 short sales last month, and found investors for 3 other foreclosures. You can’t search for them online because Charlottesville doesn’t seem to get updated that often. For example, I was talking to a representative at Countrywide yesterday and she said “we are proud to say we have no foreclosures in the Charlottesville Area”. Wrong. I personally am negotiating 3 Countrywide foreclosures in Charlottesville right now. It seems like the banks are trying to keep it quiet in Charlottesville. The best way to get the house at the cheapest price is, like Rich said, to knock on the owners door. And you can find them at the Courthouse.

By: Foreclosures in Charlottesville and Albemarle | Real Central VA

Foreclosures in Charlottesville and Albemarle | Real Central VA — Tue, 20 May 2008 10:49:27 +0000

[...] Related – I wrote about Charlottesville area foreclosures in February and in April. [...]

By: Pavel Dovgalyuk

Pavel Dovgalyuk — Wed, 16 Apr 2008 02:00:05 +0000

It seems to me the “cleanest” way to purchase a property that is in foreclosure is to purchase one on the open market once it’s bank owned. We don’t have too many of these, but when they come on, they’re usually priced for a quick sale. A few recent examples are: 2 bedroom turtle creek condo, pantops condo, property off of Cherry Ave, etc. – all went under contract very very quickly. If Seller is disclosing in the MLS that the property is a “short sale” – could be a sign the property may go into foreclosure in the near future and will probably get re-listed with an agent who is representing the bank. Staying on top of new MLS listings is key…there are numerous people looking for these “deals” and multiple offers are fairly common.

By: Rich

Rich — Tue, 15 Apr 2008 21:52:38 +0000

The best way to find Pre-Foreclosures is to go to your local courthouse and search for them yourself & go knock on the owner’s door.

You’ll be looking for “Final Judgements” and properties with a “Lis Pendens” from a bank.

By: Barbara McMurry

Barbara McMurry — Tue, 15 Apr 2008 20:19:20 +0000

This isn’t a source for foreclosures but the Office of Housing Research at GMU keeps good records on what is happening with foreclosures.