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Foreclosed Homes in the Washington Area up for Auction
posted 4:29 pm Fri March 07, 2008 - Washington, D.C.
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Some of those homes are in Prince William County (web|news), which has been especially hit hard by the housing market crash.
Bridget Barnes has nervously watched as at least three homes on her Prince William County street recently went into foreclosure.
Part of the problem is that "buyers can get better deals on homes still going up in her neighborhood than on existing homes," Barnes said.
One of the foreclosure homes was bought by the last buyer for $745,000 in 2006, but the opening bid for it this weekend is $199,000.
"It makes us very nervous because we're military and we're transient. We are probably going to be moving soon in the next couple of year. So it makes us very nervous," Barnes said.
For Amber Dise, who has lived in the Prince William County neighborhood for ten years, this is unsettling. "The value of our house we thought was pretty good and now that kind of scares us, because it makes you feel like you're stuck here," Dise said.
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