Fauquier County? Way out there, for you folks close in. Yet an area that saw the same run-up in prices, only with the added burden of the over-building in closer-in Prince William County.
The newest buzz on the street is short sales.
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What is new, and what we are starting to see in our area is more and more real estate listing are advertising short sales.
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In Fauquier County, property values are declining. Presently, properties are remaining on the market an average of 90 to 110 days. Only one out of five listings goes under contract, and we currently have a year and a half of inventory on the market.