U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-19-2008, 08:12 AM
 
3 posts, read 5,094 times
Reputation: 10

Advertisements

Looking at homesdatabase.com, there are many houses in Lovettsville for sale. Some are only 2 or 3 years old. Some are bank-owned/foreclosed, while some are not.

Does anyone know why there are so many houses for resale in this area?
Reply With Quote Quick reply to this message

 
Old 05-19-2008, 08:24 AM
 
Location: TX
3,029 posts, read 10,647,118 times
Reputation: 1362
I'll take a guess... ALOT of people from Leesburg/ purceville sold thier smaller (10year old)3-4 bedoom 2500sqft houses and moved out to Lovettesville and purchased NEW builder homes at incredibly inflated prices. Reported to become the next Ashburn. Now no-one is moving out there because of gas prices, the fact that thier is nothing out there, and the market has tanked.

The people we bought our house from in Leesburg moved out to a big 3500sqft house (why? they didn't even have enough furniture for the old one) They wanted NEW etc...
They just sold it for a BIG loss and moved back into Leesburg. The mortage payment and gas prices were killing them.

TONS of builder spec homes in Lovettesville and Winchester. back late 2004 early 2005 investors could buy a bulider home and turn around and re-sell it for a good profit before they had to pay the first mortgage payment. Then the market cooled and htey were left holding onto 1-2 properties...
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 11:07 PM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top