Virginia Beach VA Foreclosure Trends – February 2012

There were 120 Virginia Beach VA foreclosure homes in February 2012, according to 1 in every 728 housing units received a foreclosure filing. The average sales price of a Virginia Beach VA home was $231,452 and the average sales price of a foreclosure home was $184,639, a $46,813 savings.

Virginia Beach VA Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.89% in February and there were 244 new foreclosures.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Virginia Beach VA Foreclosure Geographical Comparison

Virginia Beach VA foreclosures were 0.02% below national statistics and 0.05% above Virginia figures in February.

Virginia Beach Va Foreclosure Activity by Month

Virginia Beach VA foreclosure activity is rising. There were 48 Bank-owned properties in both January and February, while the number of Auctions increased from 169 to 196.

Are you or someone you know behind on mortgage payments and facing a Virginia Beach VA foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I hold the Short Sales and Foreclosure Resource Certification (SFR) and am trained in helping families avoid foreclosure. Give me a call for a private consultation.


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