Virginia Beach VA Foreclosure Trends – March 2012

There were 1,064 Virginia Beach VA foreclosure homes in March 2012, according to 1 in every 866 housing units received a foreclosure filing. The average sales price of a Virginia Beach VA home was $246,653 and the average sales price of a foreclosure home was $206,036, a $40,617 savings.

Virginia Beach VA Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.95% in March and there were 205 new foreclosures compared to 244 new foreclosures in February.

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 0.03% below national statistics and 0.04% above Virginia figures in March.

Virginia Beach Va Foreclosure Activity by Month

Virginia Beach VA foreclosure activity is rising. The number of Bank-owned properties increased from 48 in February to 50 in March, while the number of Auctions dropped from 196 to 155.

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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