Pre-Foreclosure home listings on Zillow in Williamsburg VA

It seems that once a week I have a buyer contact me inquiring about a home listed in “pre-foreclosure” on Zillow. Most want to make an appointment to see them. They seem surprised when I inform them that the home is actually “NOT FOR SALE”

Just to clarify, a pre-foreclosure is a property with late mortgage payments, and the lender has issued a Notice of Default or a lis pendens . The homeowner/ borrower can still make payments and pay the loan amount due to stop a foreclosure. But, if payments are not made, the lender will move to foreclose.

Over the years I have seen many homes in the pre-foreclosure process that never get foreclosed on. Many times the mortgage gets paid up to date, or at least within the two most recent payments due, and the property emerges from the foreclosure process.

You can see from the list below there are currently 52 pre-foreclosure properties listed on Zillow in the Williamsburg VA area. None of which are for sale.

The problem is that listings do not start with Zillow. The source of all listing data begins with the local MLS. If the MLS does not have the listing, then the property is not for sale – not even a bank-owned home, because banks also list homes through the MLS. But buyers don’t always understand that, and so they waste a lot of time thinking about properties that are not on the market.

 

Clients looking to buy now should focus only on what’s available for sale today. We don’t see nearly the volume of foreclosed homes today as we did a few years back, and the banks no longer are flooding the market with foreclosures.

Out of the numerous pre-foreclosure listings seen online, only a small number of these will actually be listed in the MLS and available for purchase. ( this could take a year or two as an FYI )

Pss’t I’m a real estate agent

This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Richmond/ Hampton Roads area and his expertise helping buyers and sellers in the local real estate market.

If you are a homeowner searching for someone innovative to sell your home I would love to share my thoughts on marketing. You can read some of the stories I have written about the homes I have sold here.

Additionally, I have helped hundreds of folks find their dream home/ community and would love to help you find yours in the Williamsburg, Yorktown, New Kent, VA Beach, Chesapeake, Suffolk, Isle of Wight,  Poquoson and Richmond VA area.

I look forward to serving your real estate needs!

Best,

 

 

About mrwilliamsburg

I love Williamsburg !
Being “Mr. Williamsburg” and starting my web site in 2004 has been a great way for me to help people looking for homes for sale, communities and an “insider knowledge.” of the area.
Turned out I was onto something. Because I offer in-depth information and up-to-the-minute blogging, even international clients have found me. One couple, moving back to the States from France, told me that a post I wrote blog about grocery shopping in Williamsburg convinced them that Williamsburg was the place to be, and that I was the best source by far that they found on the web.
I’m happy to say that I hear similar comments from many of my clients looking for homes throughout Williamsburg and Hampton Roads.
I grew up in Virginia Beach, Va, After attending college, I worked at a number of positions including manager of a land development and construction company and business manager of a cut flower business that we grew in sales from $300,000 to $15 million (we were supplier to Whole Foods and one of the first cut flower suppliers to Costco).
In 2004, it seemed like a good time to simplify my life. I moved my family from Annapolis to Williamsburg. I went into real estate with Liz Moore and Associates, and was one of the initial agents when Liz opened her Williamsburg branch.
My sons Zach and Josh attend Lafayette High School and Hornsby Middle School and are crazy about sports and the outdoors.
I feel lucky to be living the dream, and saving two to four hours by not driving on the DC beltway every day. So, I can now spend my time with family while concentrating on learning — and sharing — information about living in Williamsburg.
In real estate, no two people or transactions are the same. Everything’s a challenge, and I’m rewarded every time in close a transaction and have the opportunity to see the smiles on clients’ faces.
Please email or call me for assistance with any real estate questions about the area
John@MrWilliamsburg.com or 757 254 8136