Areas for find affordable housing without a short sale?

Asked by Tim, Winter Springs, FL Wed Jun 11, 2008

My company is relocating me from Orlando to Alexandria and we have to move pretty quickly. So, we need to find a (preferrably) 4 bd/2 bath within a reasonable commute of the VTS area in Alexandria (40-45 mins max). We'd prefer a SFH, but a TH will work and are looking to spend in the $350K neighborhood.

Based on what I've been reading about the issues with REOs and short sales and the time it takes to close on one of those (we need to close in 30-45 days) I don't think they are an option. Do you all have any suggestions on areas we can look where we can find something with these criteria?

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AJ Heidmann, Agent, Arlington, VA
Thu Jun 12, 2008
I agree with Brian that those areas are possiblities, but I would include South Arlington and Alexandria(Fairfax County) to your list. If you want to keep your commute under 45 minutes, you can't go much further. I just checked MRIS and found 200+ single family homes listed under $375,000 in the combined area. Now many of these are short sales, so to be sure to give as much information as possible to your agent so they can narrow down this large inventory, to more manageable number that work on.

Best of luck in your search!
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Tim, Home Buyer, Winter Springs, FL
Thu Jun 12, 2008
Thanks for the help Cindy and Brian. Could either of you suggest specific communities or zip codes that I should look into? We're traveling there this weekend to shop/purchase and having some focus before we arrive would be quite helpful. Plus then I can check out the schools in those particular areas (fyi - is an excellent site if you all aren't aware of it) and be ahead of the game.

We have a local agent, but we're off to a bit of a rocky start in our relationship, so I appreciate any additional help I can get.

Thanks again!
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Cindy Jones, Agent, Alexandira, VA
Thu Jun 12, 2008
You are at a tough price point for a detached home close to town. Most of the areas within 45 minutes in Fairfax County a home of that size will still be above 400K. You will have more options with a TH in Lorton and Springfield for 350K. If a detached home is what you really want then you may have to head to PW County to find it. You can close on a foreclosure within a 45 day timeframe. Most banks are responsive within a 48 hour timeframe. You are correct that a short sale is probably not your best choice.

If you need assistance with locating a new home in the area let me know. As a native of Northern Virginia I can fairly quickly help you narrow down the areas that have the properties that meet what you are looking for.
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Brian Block, Agent, Alexandria, VA
Wed Jun 11, 2008
Tim, you may want to concentrate your search on Springfield, Burke, Lorton, and Annandale. You probably will not find much in your price range and criteria in Alexandria proper, but those areas should provide more extensive inventory.

Once you move further south to the Prince William County area, you'll see more affordability and more house for your money, but you'll likely be dealing with short sales and foreclosures for the most part.
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