Alexandria VA Bank Owned Homes and Foreclosures

Alexandria VA real estate consists of traditional equity sales, and distressed sales such as bank owned (or REO) homes, pre-foreclosure sales, and short sales.  As an Alexandria VA short sale listing agent, I am very familiar with how foreclosures and short sales work.  Distressed sales in Alexandria VA peaked in March 2011 with the 39 total sales (21 short sales and 18 bank owned properties).  As of June 2011, the number of distressed sales in Alexandria VA (City) was down to 23 (14 short sales and 9 bank owned properties). To see specifics on Alexandria VA foreclosures and short sales by month, scroll or mouse over the points in the interactive chart below.

If you want to know how to buy a foreclosure in Alexandria VA, then you’re in the right place.  As a buyer agent, I help by facilitating your mortgage approval with a local lender, helping you get specific and listening to your search criteria, showing you available Alexandria VA foreclosure homes for sale, and negotiating your purchase contract.  Because many buyers are looking for a home at a steep discount, you’ll likely be competiting against other buyer and cash investors.

Just like Alexandria VA foreclosures, short sales are also a target for homebuyers looking for a bargain.   With short sales, the homeowner is selling the property at a loss, so the bank will want to sell the home as close to market value as possible.  You’ll have the benefit of my experience as a short sale listing agent on your side.  I’ll provide you with insight on what banks expect from buyers when it comes to the purchase offer.

To receive listings of Alexandria VA foreclosures and short sales directly to your inbox, please click here.

Alexandria VA $7500 First-Time Buyer Grant Program
Available After Tax Credit Expires

There’s a new grant program that allows Alexandria VA homebuyers to earn up to $7500 toward down payment and closing costs for the purchase of a new home.  Cindy Small of Union Mortgage Group shares some information about the $7500 First-Time Buyer Grant Program.

We’ve prepared a financing scenario to show you how the $7500 grant money can be used on the purchase of a home with a list price of $272,500.  My listing at 6933 Westhampton Drive in Alexandria can be purchased for a monthly payment of less than $2000.  Click here for the mortgage payment breakdown and financing details.

This program can be used for all Alexandria VA home types including condos, townhomes, and single-family detached homes for sale as long as you qualify.

For more information call me at 703-623-8759 and let’s see if you can benefit from this program.

Past Client Gifts Settlement Guide For Alexandria VA Homebuyers

Auburn Village Real Estate And Condos For Sale In Alexandria VA – 13A Auburn Court

13A Auburn Court

Del Ray real estate and condos for sale in Alexandria, VA.  Another beautiful move-in ready ground floor unit in Auburn Village just listed for $190,000 at 13A Auburn Court. The sought after location with the rear patio off the kitchen.

Gleaming hardwood floors, and lots of sunshine will greet you as you walk into this home.  The kitchen has ceramic tile flooring, white cabinet and countertops, and a bar.

The oversized living room has space for your dining and the windows open up to the meticulously maintained courtyard grounds.  The bathroom also has ceramic tile flooring and shower surround.  The master bedroom faces rear and also welcomes an abundance of natural light. 

Enjoy the convenience of the Del Ray location, including being walking distance to the shops on Mount Vernon Avenue, the Potomac Yard shopping center with Target, Best Buy, movie theatre, grocery, and restaurants.  The home is less than 10 minutes to Washington DC, and Washington’s Reagan National Airport.  The low monthly condo fee of $187 includes water, exterior maintenance, and common grounds.

Helpful Links – Auburn Village Photo Tour

Auburn Village Condos For Sale

Del Ray Condos For Sale

Old Town Alexandria Condos For Sale

Alexandria VA Homes For Sale

Olde Mill Condo at Fort Belvoir

Alexandria VA Short Sales – Olde Mill Condos at Fort Belvoir

Alexandria Va Short Sales – 8608 Shadwell Drive, #47, Alexandria VA 22309. Great opportunity for a first-time buyer or investor to own this 2BR/2BA top floor condo just a stone’s throw to Fort Belvior. Private views from the rear balcony, wood-burning fireplace, master bedroom with private full bath and walk-in closet, washer/dryer, and assigned parking space.  There’s also plenty of visitor parking spaces.

Great location for military, around the corner from Fort Belvoir, and close to GW Parkway. There are plenty of shops, restaurants, and dining nearby along the Route 1 Corridor, or 15 minutes to Kingstowne via Fairfax County Parkway.

This home is a short sale and requires third party approval.

Five Things Alexandria VA Homebuyers Should Do Before Buying A Home This Spring

Over the past two weeks, I have been actively working with buyers who have the goal of moving in to their new home by springtime.  We’ve been facing some fierce competition, especially in the first-time buyer price range of $450,000 and under here in Alexandria.

If you’re ready to peak out from beneath the snow and enter the real estate market, here are the top 5 things you must do before the weather, and the market, heats up even more:

1. Get started with your mortgage approval.  Even though you may not be ready to move in until March or April, you should start the mortgage approval process as soon as possible.  It’s free of charge, and it does not obligate you to a purchase.  You also may not be aware of items that may be on your credit report that are bringing your credit score down.  Your lender will be able to tell you if you can increase your score by paying off a debt or two, or if there is an error that needs to be removed.  Remember, the higher your credit score, the lower your interest rate. (See also, 10 Questions To Ask Your Lender)
2. Talk to a knowledgeable buyer agent about what you’re looking for (just hit reply).  One of the best things about being a professional Realtor is the networking opportunities that I have.  Being part of the #1 real estate brokerage in Alexandria, we share information about our upcoming listings.  So it’s possible that we already have a seller match for you. (See also, 5 Reasons To Sign A Buyer Agency Agreement)
3. Narrow down neighborhoods.  If you got stuck in last week’s traffic horror, you probably had ideas of living a little bit closer to work.  Once you narrow down where you want to live, finding a home will be easier because you’re not ‘all over the place’.  Remember, eliminating is just as important as actually selecting a home. (See also, 5 Tips For Finding The Right Neighborhood)
4. Determine your monthly budget. If you’re looking at condos, don’t forget to factor in your monthly condo fees once your lender has approved you for a loan.  Garden-styled (1-4 floors) condos will have the lowest fees, but they usually do not include all of the utilities.  High-rise (9+ floors) condos will have the highest fees, typically running over $500 per month, but will usually include all utilities.  Townhomes and single-family homes that are in a homeowner association will have either monthly or quarterly fees.  Determine the maximum amount that you’re comfortable with.
5. Figure out your lifestyle budget.  If you’re transitioning from renter to homeowner, your ownership costs will likely be higher than your renting costs.  Figure out if you have to make any lifestyle adjustments to accommodate your new home.  For example, do you have to give up your gym membership?  Would you have to reduce the frequency that you dine out or travel? 

There will undoubtedly be some give and take.  You could live closer in, and save on gas by using metro, or you could live further out and also save on gas by taking advantage of the slug-lines or VRE.

If you have questions about buying a new home this spring, please give me a call today at 703-623-8759 or email me.

Here are some links to properties for sale right now:

• Alexandria Foreclosures
• Alexandria Short Sales
• Alexandria Homes (non-distressed) $450,000 and under

Another Happy Del Ray Homeseller! |
Just Sold In Auburn Village – 316 Ashby Street

Auburn Village Condos In Del Ray

Alexandria VA Real Estate – Del Ray homebuyers have to continue their search for a condo for sale.  Del Ray listing agent Tamara Inzunza has just sold another home.

316 Ashby Street Unit C has just sold for $185,000.  This home received multiple offers in the current buyers market.  The property was on the market for less than a week before receiving an offer.

If you are thinking about selling your Auburn Village condo, contact me for free market analysis.  If you are considering buying a home in Del Ray, use the links on this blog site to help you with your search. 

Helpful Links – Auburn Village Photo Tour

Auburn Village Condos For Sale

Del Ray Condos For Sale

Old Town Alexandria Condos For Sale

For Alexandria VA Home Sellers – Out of The Mouths of Buyers
Top Five Things That Will Turn A Buyer Away

We’re moving along here in January, and one of my favorite things to do is to work with buyers who are in the early stages of their home search, hoping to find a new place to call home by the Springtime.

If you currently own a home and are preparing for the spring market, I’d like to give you an interesting perspective. Especially if you’re thinking about not putting 110% of your efforts into tuning in to what today’s buyer is thinking.

When there’s a large inventory of Alexandria VA homes for sale, buyers have more to choose from.  And sellers who have the ‘just make me an offer’ mentality could easily miss out on buyers who say, “Thanks…but No Thanks”…then “Next”. As I take the time to show homes along the I-95 corridor from Alexandria to Woodbridge, what I’ve noticed is that the prices are different, but the buyer feedback is consistent.

Straight out of the mouths of buyers, here are the top five things that will turn a buyer away and cause you to miss out on an offer:

1. Cleanliness- Times are tough, and even if you can afford to have Molly Maids come in and make your home sparkle, get down and clean like you’ve never cleaned before. Take the time to mop wood floors to make them shine. Vacuum the carpets to leave the lines, that shows effort. And above all else, the kitchens and bathrooms must be spotless.
2. Cigarette smoke – This is hardest for non-smokers. If you don’t smoke, the smell of cigarettes is like a smack in the face once I open the door. Not only is it a turn off, but the showing time will likely be less than one minute. A buyer will not likely take the time to see your whole house if cigarette smoke greets them at the door.
3. Wallpaper – I’ve removed wallpaper myself, and it only took a little over an hour. I saw a tip on HGTV a while ago where a simple mix of water and liquid fabric softener will make it easier to remove. But buyers instantly see the labor of taking their time to remove the wall paper, and the expense of painting before they can enjoy living in your home. So ‘icks-nay’ on the wallpaper.
4. Large dogs are scary – Even if you’ve had ‘Scooby’ since he was the cutest puppy in the litter, a large dog can easily intimidate and distract a buyer. If you have a dog, please make arrangements for him/her when your home is on the market.
5. Obvious repairs make buyers worried – While I’m retrieving the key from the lockbox, the buyer is eyeing the exterior. And usually rotted wood around the trim of the front door and the front windows are very noticeable. Buyers get the feeling that the seller didn’t take care of the home, and they immediately form an opinion before walking through the door.

Whenever I go on a listing appointment to talk to a perspective seller, I make a point of reviewing these items. As a buyer agent, this feedback is important because it helps me to narrow down homes for my buyers based on their likes and dislikes. The one question that’s important for every buyer to answer when looking at homes, “Can you see yourself living here?”

Berkshire East Townhome Just Sold In Alexandria VA – Homes For Sale Near Huntington Metro
5948 Berkshire C ourt, Alexandria, VA 22303

If you blink you just might miss the tucked away Alexandria VA community of Berkshire (East).  This small enclave of homes is walking distance to the Huntington metro, and two traffic lights to the I-495 Beltway, and Old Town Alexandria.

The home at 5948 Berkshire Court was completely move-in ready.  It offered three bedrooms, two full baths, one half bath, and a walkout level basement with a fenced backyard.  The dream kitchen included granite countertops, stainless steel appliances, and new custom cabinets.

Another great feature was the bright wood flooring in the separate living room and dining room.  Upstairs, the master bathroom was renovated and also had two spacious closets.

The lower level rec room has a wood-burning fireplace, new sliding glass door, and new carpet which made for the perfect relaxing space.  These new buyers were definitely excited to find this rare gem.  Homes in Berkshire Townhomes don’t often come on the market.  And if you’re looking at Alexandria VA real estate and homes for sale, make sure you don’t miss out on this quiet community.

Another Harbor Terrace Condo Just Sold In Old Town Alexandria

Old Town Alexandria buyer agent Tamara Inzunza has just sold another condo!  This upper left loft unit at 517 Bashford Terrace has sold for $241,000. Once again, Alexandria condos that are attractively priced continue to be a smart move for second-home buyers.

The current Alexandria real estate market offers great opportunities for current homeowners who are looking to take advantage of the rock bottom interest rates for investment properties or local second homes.  Garden styled condos like those in Harbor Terrace are ideal because of the lower price, lower condo fees, and close proximity to Washington DC and Reagan National Airport.

If you’re thinking about making Old Town Alexandria your second home, take a look at the affordable condos for sale in Harbor Terrace and surrounding communities.

Tamara Inzunza is a buyer agent in Old Town Alexandria, and can help you if you are interested in condos for sale in the Old Town neighborhoods Harbor Terrace, Canal Place, Riverton, Old Town Crescent and Old Town Greens.

See also: Harbor Terrace Photo Tour

See also: Old Town Alexandria VA Video Tour

Thinking about selling your Harbor Terrace condo? Get a complimentary market analysis and find out what your Harbor Terrace condo is worth.