Many potential homebuyers will consider buying a foreclosed home because conventional wisdom says they will be able to purchase a home at a discount. Yet are foreclosures in Falls Church sold at a reduced price?
When looking at the median sales price, Falls Church foreclosures are sold 30% less than the average non-distressed home (not a foreclosure or short sale.) According to RealtyTrac, the nation’s largest foreclosure reporting firm, in September of 2013 the median sale price of a non-distressed home in Falls Church was $475,000; while the median sales price of a foreclosure in Falls Church was $331,381; a 30.2% reduction or $143,619 savings.
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