This post was contributed by a community member. The views expressed here are the author's own.

Community Corner

Manassas Foreclosures: Do Buyers Save Money?

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 Manassas sold at a reduced price?

When looking at the median sales price, Manassas foreclosures are sold 20% 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 Manassas was $271,000; while the median sales price of a foreclosure in Manassas was $217,000; a 19.9% reduction or $54,000 savings.

If you’re searching for a home or foreclosure to purchase in Manassas or any Northern Virginia county, search online at http://www.virginiaproperties4sale.com

Find out what's happening in Manassas Parkwith free, real-time updates from Patch.

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?

More from Manassas Park