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Old 05-05-2009, 07:07 PM
 
12 posts, read 38,052 times
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only one new listing house per week????? are banks holding on the foreclosures??
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Old 05-05-2009, 07:37 PM
 
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Manassas was one of the harder hit areas in the DC area with the housing crisis. There were many more people there who bought cheaper homes and then found out they were in over their heads.
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Old 05-05-2009, 08:30 PM
 
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Originally Posted by CaseyMac View Post
Manassas was one of the harder hit areas in the DC area with the housing crisis. There were many more people there who bought cheaper homes and then found out they were in over their heads.
Quite true. I used to live there so I know. I still own a townhouse there as I didn't want to sell it now so am renting it out, having moved to Gainesville last October.

Market was flooded with foreclosures and still is. Don't know why only one new listing, but maybe indeed temporary freeze on foreclosures. Not very many houses up for sale in Manassas are not either a foreclosure or short sale - regular sales are few and far between. That's because the market IS defined right now by foreclosures/short sales, so anyone wanting to sell normally has to price their house at absurdly low prices. That is exactly why I reluctantly decided to rent my townhouse out instead of selling it. Fortunately rental income is good since the townhouse is basically paid off. But would rather not have to rent and just be able to sell it and get my equity out of it, once prices rebound a bit. Even if I sold it at absurdly low price I'd get a lot of equity on it, but seems foolish to sell it now.
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Old 05-06-2009, 07:46 AM
 
12,022 posts, read 11,575,119 times
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march shows 5 new listings per day for manassas + manassas park.

the government is giving inducements to debtors to delay foreclosures. Fannie Mae is giving out "loans" to keep the delinquent mortgages current for another six months to a year. i know someone whose brother was offerred 9 months rent-free, real estate taxes paid for, and upkeep and utilities paid for by government agencies to keep the home from going into foreclosure. if you can't get a job in the local area, it unfortunately damages your prospects by keeping you from moving where there's available work.
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Old 05-06-2009, 06:44 PM
 
12 posts, read 38,052 times
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does it mean no more foreclosures???
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