Heather Elias

What I can tell you is that since they re-opened, Lennar has sold out the lots as fast as they have released them. They are also, I believe, in negotiations to take over the lots that KB Home had in the neighborhood before they pulled out of the mid-Atlantic area altogether. Of course, we can't say for certain, but with very strong home sales and a push to get more lots? I think that sounds pretty committed and stable. - Mon Nov 30 2009, 08:07

Hi, I actually was just at a closing on Friday with buyers who built a new construction home there with Lennar. They were very pleased with how the home turned out, from the quality of the construction to the customer service we received from Lennar. The great thing about Martin's Chase is that is very close to Brambleton, but not too far from Leesburg, either. I'd be happy to answer any questions you might have about the community, just email me at heather@locomusings.com or call my cell at 571-233-5491.

Cheers,
Heather Elias
Century 21 Redwood Realty
Ashburn, VA
Licensed in Virginia - Sun Nov 29 2009, 21:07

Hello,
This is a bank owned property (so it has already been foreclosed on.) According to the listing, there are multiple offers on the property already, and they are looking for 'highest and best' offers by close of business today. It's been active on the market for four days under the current listing number. Based on that list price, I think their strategy was to price it low to get a bunch of offers to pick from; the other active listings in the neighborhood are all in the mid to high $300,000s. Feel free to reach out to me if you have other questions!

Hope that helps!
~Heather - Wed Feb 18 2009, 08:06

Stephanie,
Those sellers who originally bought it for $700,000 got it at the absolute height of the market, and by listing it at $650,000 were probably trying to sell it without having it be a short sale (meaning, the asking price is less than what they owe, and they don't have the funds to make up the difference, so the lender has to approve the deal and takes a loss). The $350,000 sale price was probably much closer to market value, given that the lender agreed to the sale...if it wasn't close to market value, they would have waited to take the property via foreclosure and listed it for sale at or near market value. Without knowing which property specifically it's hard to say for sure.

If you have patience, and work with a Realtor who can advise you about market value, you can definitely find a short sale situation where you can get a good deal on a home. Keep in mind that it can take a lender months to respond to an offer on a short sale, and there is no guarantee that they will allow a sale to proceed. There are certainly a large number of homes that fall into that category that are for sale in Ashburn or Sterling.

If you aren't already working with a good buyer's agent, that is your first step. A Realtor that is very familiar with the neighborhoods/towns that you want to purchase in will be able to pinpoint which listings are the best potential deals available.

Hope that helps!

Heather - Mon Dec 22 2008, 15:39