Due to the current economic downturn, 11.3 million homes in the U.S. are currently “under water”  (the mortgage balance exceeds the property’s value).  In an effort to assists those both looking great investments and those caught off guard by the downturn, the Bob Nelson Team is putting a greater focus on tracking, listing and selling foreclosure and short sale properties particularly  in the Langley, Mclean and Oakton high school districts.  Most everyone is aware that the lower priced homes got clobbered by the drop in real estate values, but few know that this has begun happening in the upper end price points as well.  There are currently five foreclosures and 15 short sales on the market in the three school districts.  These range in price from $229,000 to $3.25 million.  Please drop me an e-mail or give a call if you would like additional info on the short sale process or learn more about possibly purchasing one of these homes.

We are also planning to put together a short sale seminar within the next several weeks.