News and notes from Reston (tm).

Friday, December 10, 2010

Reston: An Earth-Toned Garden of Foreclosures

Foreclosure Fun.jpg

Who knew the Google Maps machine isn't just for embarrassingly easy contests? Each red dot on the fancy map above represents an earth-toned home currently under foreclosure. What's interesting is that beyond a cluster lumped around the intersection of South Lakes and Soapstone, the foreclosures are spread fairly evenly around Reston -- north, south, The Fake Downtown The Authentic Urban Experience (tm), and everywhere in between. Reston doesn't seem to be faring any worse than the rest of Fairfax County, and quite a bit better than so-called "best place to live" Centreville -- but if you scroll over to Sterling, you're greeted by a horrific, smallpox-like infestation of red dots. So if your dream is to live in a particleboard estate behind a strip mall, now's your chance!

9 comments:

  1. Glad Restonian has finally appreciated RTC for the vital urban core it is.

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  2. Ahhh. The sight of all of that red is enough to make any slum lord's heart leap with joy.

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  3. @Anon 8:57 PM

    Where are you balls scumbag? You have no idea who he is... check the county records and see if you can find any...

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  4. Anonymous December 10, 2010 8:57 PM

    Are renters not paying their bills? Maybe he was too kind to evict, and ran into cash flow issues.

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  5. Lots of these dots should not be on the map. Google gets the info from a variety of websites. RealtyTrack.com, RealtyStore.com, RealtyBargains.com… most of the sites want you to join for around $50 per month so you can full access to the misinformation. Why is it misinformation? The info on these websites is outdated and often incorrect. The Fannie Mae run site has the correct information. For instance two listing on Google’s foreclosure map are in my neighborhood. Both say in the pop up window, a notice of trustee sale has been given and the home will be sold at auction. One had a notice given over the summer and the owners refinanced their home so the trustee sale never took place. The other was set to go to auction Friday the 10th but was removed from the list earlier this week. Having been to several auctions I have found around one in four homes listed on the trustee auction list actually are sold at auction. The rest short sold, the owner starts resolves some reduced payment option, are refinanced or some other solution is reached.
    In any event more than half the red dots are not foreclosures but rather people upside down on their homes who at one time in the past several months had difficulty making payments before some solution was reached. There are currently 14 active listed foreclosures in the MRIS for sale and 9 scheduled to go to auction.

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  6. Wow, Aaron. Very interesting indeed.

    Does anyone here know how Zillow works?

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  7. Go ahead and add another red dot to Hunters Square, ce la vie money pit from hell.

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  8. "but if you scroll over to Sterling, you're greeted by a horrific, smallpox-like infestation of red dots"

    Actually, at first glance density of red dots in Sterling is about the same as in Herndon and Reston. Neither is Vienna/Wolf Trap or Great Falls for sure.

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