Is now a good time to buy a house in the VA area-specifically Woodbridge VA? (Lake Ridge: foreclosure)

[foguno]

I am active duty military and i'm currently renting a house in ALexandria VA. My rent is about $1200/mo and does not include utilities. Since the market is down right now, Is it wise to buy a house at this moment? I realized Woodbridge VA has lots of homes going on foreclosure and banks are offering over $100,000 less its market value. Also my lease expires in 2 months and i am very meticulous about this issue.
Thanks for your help.

[jaywallace]

Originally Posted by foguno

I am active duty military and i'm currently renting a house in ALexandria VA. My rent is about $1200/mo and does not include utilities. Since the market is down right now, Is it wise to buy a house at this moment? I realized Woodbridge VA has lots of homes going on foreclosure and banks are offering over $100,000 less its market value. Also my lease expires in 2 months and i am very meticulous about this issue.
Thanks for your help.

I wouldn't suggest Woodbridge as a place to live. I would buy a house in Lake Ridge or the Bristow area right now (very low prices and nice areas). If you move to Woodbridge you better brush up on your Spanish. And no, this isn't a "racist" comment. It's just how it is.