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Kathy, Home Seller in Reston, VA

Will foreclosed properties increase in value as much as regular properties when the market increases?

Asked by Kathy, Reston, VA Thu Sep 25, 2008

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One might say, it depends, but since you are pin pointing "when the market increases", I would argue, "yes". Foreclosed properties usually get a stigma amongst buyers and agents as difficult properties with home inspection issues. However, once purchased by a bonafide buyer, and later put on the market, that home is on the same playing level as other market rate homes. The "foreclosed" status is erased but all the main issues still come into play: location, condition, and size.
0 votes Thank Flag Link Fri Sep 26, 2008
Kathy,

Yes, you can expect "foreclosed properties to appreciate as much as regular sale properties unless there is some sort of problem with it: proximity to railroar, noisy express way, land fill, corporate area etc.

Good luck,
The "Eckler Team"
0 votes Thank Flag Link Fri Sep 26, 2008
Yes they will,unless they are run down and need quite an investment to bring them up to the level of the rest of neighbourhood but if there is a tendency of entire neighbourhood to be going down than they will not increase in value but go down with the rest of neighbourhood.
0 votes Thank Flag Link Fri Sep 26, 2008
You probably don't need to worry much about this. It will probably take many years, maybe a decade or two, for prices to increase. Good Luck
0 votes Thank Flag Link Thu Sep 25, 2008
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