Let’s talk about Arlington foreclosures, otherwise known as bank-owned properties in Arlington County for 2009-YTD in 2010. Just so we’re on the same page, bank-owned properties are ones that may or may not have gone through a short sale, then to auction, then BACK to the bank who foreclosed on the owners (this is when we often refer to these properties as bank-owned, Real Estate Owned (REO), or Foreclosures). So now the bank owns the house and they’ve assigned an asset manager (or a 3rd party company to handle negotiations) on the house when it hits the market for sale.
Some figures: The #1 state with foreclosure filings and bank-owned properties is Nevada. In August alone, 95,364 properties became bank-owned. That’s 1 month.
Since January 1, 2009, there have been a TOTAL of 282 bank-owned properties sold in Arlington. That’s 21 months and only 282. During that time, 4,632 properties have sold, making the market share for Arlington only 6.09%.
Take a look:
Total Sales: 4,632
North Arlington: 2,807
South Arlington: 1,825
Foreclosure SALES: 282
North Arlington: 67
South Arlington: 215
Condos Foreclosed and Sold: 145 (+3 Co-ops in River Place)
Single Family Homes Foreclosed and Sold: 91
Other (Townhomes, Duplex, Semi-Detached): 43
Currently Pending: 17
North Arlington: 4
South Arlington: 13
Single Family Homes: 3
Most of the foreclosures in Arlington have been condos in South Arlington.
These stats are just foreclosures sold, not delinquencies filed or the properties that actually sold at auction (that’s a whole other ballgame!).
Want to see what’s out there of the few foreclosures for sale? Search Arlington Bank-Owned Properties for Sale