Foreclosures and Bank-Owned Properties in Alexandria Virginia
By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Foreclosures can be very rough on an owner of a home. There's lots of blame to spread around. Some of the blame falls on unscrupulous and/or greedy lenders, some on unwise borrowers, some on the frenzy of the recent real estate boom, and yes, even some of it on the bad advice of REALTORS. Despite this, a large number of foreclosures occur because of some change in the owner's financial situation, whether it be job loss, a divorce, or a serious and expensive medical problem. Nobody wants to see someone lose their home, whatever the circumstances.Nevertheless, the rise in foreclosures do present a buying opportunity for people looking to purchase a home at under market value. This can be first-time buyers willing to put in some sweat equity to improve the property, or investors hoping to ...
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