Little Improvement in Number of Local Foreclosures
The Centreville area had 377 homes that were bank-owned or in foreclosure as of March 20.
There’s good news and bad news about foreclosures in the area. The average price of foreclosed homes across Fairfax County is well above the average price across Virginia and the nation—that’s the good news. The bad news is that there has been little improvement in the number of foreclosures on the market in Fairfax County in the past year. Virginia has about 15,000 homes that were bank-owned or in foreclosure, or 1.1 percent of the United States’ 1.34 million foreclosures. Sixteen percent of Virginia’s foreclosures were in Fairfax County. According to RealtyTrac.com, there were 2,431 Fairfax County homes in foreclosure in late March. The Centreville area had 377 homes that were bank-owned or in foreclosure as of March 20, 2012. Of those …
