Foreclosures selling for 1/3 off, made up 23 percent of sales in Virginia

Virginia properties in foreclosure sold for about 30 percent less than the average sales price of non-forclosure sales. Foreclosures also made up 23 percent of all sales in Virginia in the second quarter.

Foreclosures are driving down sales prices, especially if the non-forclosure property is in the same neighborhood as a foreclosed property.

Read more at the Daily Press.

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One Response to Foreclosures selling for 1/3 off, made up 23 percent of sales in Virginia

  1. Wow, that’s quite a difference. What potential buyers should understand is that foreclosures are typically not in comparable condition to conventional sales.

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