Leesburg, VA short sales have gone done in the last years. Just 2 years ago in 2009 they were almost 43% of the real estate market in Loudoun County overall and almost that high for Leesburg itself. For every 100 homes for sale 43 of them were short sales. Now, in 2011, there are only 151 of the 1629 homes currently listed for sale in Loudoun County. That is just 9% listed as short sales and Leesburg Va has the same percentage of 09% listed as short sales. Currently for every 100 homes for sale only 9 are short sales.  (A short sale occurs when a home is sold for less than it is worth).

Why have the numbers declined?   Likely, the number of people in financial distress has declined as the overall economy has improved. Banks have gotten better at modifying mortages for those in distress. Some listings have gone to foreclosure but foreclosure or bank owned figures are even lower. There are currently only 50 out of 1629 listings that are bank owned properties currently listed for sale in Loudoun County. That is just 3% of the Loudoun listings currently on the market and Leesburg, VA is the same at 3%. This is a huge plus for the real estate market and for homeowners in Loudoun County. The faster we get families in distress, back on their feet, the faster the overall real estate market will improve. That is good for home values and the local economy as a whole.

If you know of someone in Leesburg or anywhere in Loudoun County that may need help exploring their options do not hesitate to have them call me at 703.587.5403. There are so many options to foreclosure these days. While it is scary for anyone facing financial distress; many of my past clients have told me, once they dealt with the home sale head on things got better much faster.  The hard part for them was knowing who to trust and what the correct information was.  That can be the challenge of it all. If you would like to talk about your particular situation do not hesitate to call me 703-587-5403.