True to the data reported by corelogic®, the number of foreclosures and short sales remain at or below below 10% of the active listings in Fairfax County. That’s good news for owners since the value of your home is based on the strength of your local market. The less frequent appearance of bank owned properties means that sellers don’t have to compete with low priced foreclosures, in essence, driving down the housing prices. A glut of foreclosure properties may be good news for buyers, but not for owners and sellers.
Their research shows that falling REO shares strongly correlates to price appreciation.