$209,000


3 Beds   3 Baths   Single-Family

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Dawn Ter
Newport News, VA 23601

Status: Inactive
Listing ID: 56737939

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Property Information

  • Price: $209,000
  • Bedrooms: 3
  • Bathrooms: 3
  • Full Baths: 2
  • Half Baths: 1
  • Total Square Feet: 1,695
  • Style: New Traditional
  • Fireplace: Yes
  • Heating Type: Fireplace
  • Air Conditioning: Central A/C
  • Year Built: 1992
  • Source ID: 10402087
  • Subdivision: COURTNEY TRACE
  • Elementary School: Sedgefield Elementary
  • Junior High School: Homer L. Hines Middle
  • Senior High School: Warwick
  • Property Type: Single Family Dwelling
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Potential Home Value

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Current Value
$209,000
Potential Value
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Short Sale

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

First Steps to Buying a Short Sale

Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.

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Dawn Ter
Newport News, VA 23601

3 Beds   3 Baths   Single-Family

$209,000

Status: Inactive Listing ID: 56737939

Property Information

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Property Description

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Listing URL

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