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The current available short sales in Winchester, VA as of March 1, 2012, stand at 51.  The combined foreclosures and short sales make up 18% of current available properties on the Winchester / Frederick County market.  There are 548 total properties listed as available.  Of that number, 96 are distressed properties. 

That number may seem high, but just two weeks ago short sales and foreclosures made up 20% of the current available listings.  The bargains are still out there, but if this a new trend the Winchester / Frederick County market may be showing signs of a slow, but steady recovery.

The number of available short sales have replaced foreclosures as the primary distressed properties on the market.  Since the market collapse in September of 2008 the number of active foreclosures have declined significantly.  Ironically, those distressed homeowners who were trying to hang on to their homes until the market recovered have finally realize they are in an unwinnable battle.

The slow recovery has taken it's toll on many homeowners who currently own a property that is on average 33% less valuable than when they bought it. Many have been able to maintain their mortgage payments, but they find themselves strapped to their homes.  The costs of maintaining an upside-down mortgage has robbed the family of vacations, college funds for the kids, new cars, home repairs and peace of mind.

Therefore, distressed homeowners who had hunkered down and planned to ride the market roller coaster to the end find that the course is a lot longer than they thought it would be.  With no clear end in sight, they have decided to sell their homes at short sale prices.  That gives buyers a great opportunity to purchase a wonderful home at discount, and it allows many stressed out homeowners an opportunity to get on with their lives.  

Available Short Sales in Winchester, VA - March 1, 2012