Alexandria, Virginia - foreclosure market - Posted by Natalie-VA

Real Estate Investing Real Estate Law
1

Posted by Natalie-VA on May 09, 2007 at 21:02:38:

Hi Greg,

I’m looking at a possible note purchase. I would like to see it go to auction, but need to figure out where the bidding might go in order to decide how much to pay for the note(s).

–Natalie

2

Alexandria, Virginia - foreclosure market - Posted by Natalie-VA

Posted by Natalie-VA on May 09, 2007 at 10:32:34:

Hello Everyone,

I have a possible opportunity I’m looking at in Alexandria, Virginia. I know how the foreclosure auctions work here in Virginia Beach, but wondered how things are going in Northern Virginia.

Let’s say, hypothetically, that the house is worth around 600k. In Virginia Beach, that would be considered high end, and maybe the bidding at auction would go to around 450k. How high would the bidding go in Alexandria? Is there anyone on the board who follows the auctions up there?

Thanks.

–Natalie

3

Re: Alexandria, Virginia - foreclosure market - Posted by Greg

Posted by Greg on May 09, 2007 at 19:33:52:

Natalie, why the auction route? It may be more work, but consider sitting down with the homeowners and striking a deal (Pre_forclosures), they can be less Competition too.