Bob - for sure the market has changed, and we are now completely in a sellers market if you are shopping for something under $400K in Loudoun, at least Leesburg and east. Multiple bids, escalating prices - sales prices are sometimes more than 10% above the list price! It's darn right crazy.

There are some exceptions, mostly in condos (including townhome style condos). There are also less pricey areas than 20147. So, if you want to consider alternatives, let me know. I regularly work these areas. I am attaching for you the list of all active residential properties in Ashburn listed for less than $200K.

http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31007251410

You can also use the home search engine on my web site ( referenced below ) to search yourself if you prefer - it links directly to the MLS.

Best,
Vicky Chrisner
Keller Williams
703-669-3142

The least expensive 3 bedroom, 2 bath, 1 car garage property in the 20147 zip code in Ashburn sold since 1/1/09 sold for $218K with $12K in seller subsidy ($206K NET).

There are 2 level town homes in Sterling (Sugarland Run community) that are selling for sub-$150K, but they do not have garages. Investors are buying, rehabbing and flipping these town homes or renting them out for long term rental investment opportunities. First time home buyers are also buying these town homes and fixing them up themselves, but only the ones that aren't totally trashed nor need a lot of work (due to limited cash to fix them up).

If an opportunity such as the town homes in Sugarland Run is of interest to you, let me know.

Danilo
http://LoudounScene.com
http://LoudounForeclosures.com

Hi Bob,

Unfortunatley that market has come and gone in the Ashburn area. back last year there were two homes that met your seach criteria, both sold for under $150,000. However the market has much improved and is not dipping that low. The lowest priced home available in the Ashburn area right now is $249,000.

Cash...is KING in this market and when you find a home chances are very good you can win the offer. Be prepared for multiple bid situations even on handyman fixer uppers.

I did some checking for you, below see a link to the only home currently availalbe in four counties that match your search criteria. If you are flexible in the location, you may be able to find a good fixer upper.

Peggy James
Erick and Company of Exit 1st Choice Realty
703-851-3085