Sterling Park - Sterling VA

Sterling, VA Real Estate – Sterling Park Subdivision

 

If you are in the market to purchase a home in the Sterling Park subdivision of Loudoun County Virginia, be prepared to encounter a foreclosure or a short sale.  You will get a great value on a single family home.  The prices that you can expect are ranging from $200,000-300,000.  I will say this; the home prices have seen an increase as investors are coming in purchasing these distressed properties to rehab them.  If you’re a first time home buyer there are loan programs out there that will help you purchase these distressed properties. One of these loan programs is the FHA 203K loan.  If you have been on the fence about buying because you think that the market is still going to come down more, I ask you this one question.  What is your motive for buying a home?  If you are looking for a great deal and a good home to live in for the next couple of years then you should move quickly on purchasing your new home. 

 

I do not think the home price will go up too much more in this subdivision, but I do not see them getting lower either.  If you get into a home now, you can take advantage of the all time low interest rates, and the Federal Tax Credit for home buyers.   If you wait till after the Tax Credit is gone you could miss out on that credit.  The dead line to qualify for the Tax Credit is April 30, 2010.  Then if you also wait to long, the interest rates could go higher and that would off set any difference in a lesser sales price.

 

If you are looking to purchase a foreclosure or a short sale I would strongly look at what Realtor you use.  Make certain that they have a Certified Distress Property Expert designation or CDPE for short.  This really does make a difference when you work with an experienced agent.

 

 

It’s a good life,

 

Glenn Stakem

Certified Distressed Property Expert

RE/MAX Select Properties

703-727-9207