Occoquan saw one. Woodbridge, 481. And Prince William as a whole? A total of 1,043.
That’s the number of foreclosures for July for the county, according to RealtyTrac, a group that compiles information on the housing market nationwide.
The rest of the breakdown in the county for July: Manassas, 218 foreclosures; Triangle, 84; Bristow, 74; Dumfries, 73; Gainesville, 67; Haymarket, 31; Nokesville, 12; and Catharpin, 2.
The figures aren’t so dismal when viewed through the context of a year. In July 2008, the number of foreclosures in the county stood about 1,200.
It sounds like things are still mighty grim. The article continues stating:
In all of Virginia, 6,406 foreclosures were added in July, representing a 23 percent jump over June figures, and an 11 percent hike from July of 2008. Between January and July, total foreclosures for the state hit 39,210. And despite lower prices and a decided buyer’s market, sales haven’t been so brisk. In the six-month period that began in January, only 10,229 of those foreclosed homes have been resold.
Do these numbers mean that Prince William County respresented 1/6th of all foreclosures in the state for the month of July? If that is the case, then why are our elected officials not horrified?
What seems to be troubling our elected officials is commercial real estate. Commercial real estate market is still declining, vacancies are up and delinquency rates on commerical loans have increased. Commerical real estate woes can further erode the county tax base. Supervisors attempted to keep tax rates down in order to not overburden the commercial sector.
Meanwhile, home sales are soaring because of fire sale prices here in Prince William. Regardless of how much of an improvement Prince William is seeing, all that improvement is diminished by reading of the murder/suicide of the couple in Dumfries whose house was foreclosed.
The couple was on a bad luck streak. The wife, army veteran Julie Fay who served in Desert Storm, was in poor health and had just returned from burying her mother in Colorado to find her house had gone to foreclosure and she and husband Wallis no longer owned the property. They had lived there for 13 years. Sadly, both the Fays were found dead in their home. No one knows what really happened yet. Manassas News and Messengers gives more details.
These tragic deaths should simply not have happened. Where was the help we keep hearing out on TV, in newspapers, on the radio? Obviously there was none for the Fays. They just added to the statistics.