Colin’s “Catch of the Day”: Investment Opportunity In Falls Church?

Today’s “Catch of the Day” is one for the investor community, or those who have time to wait for a deal to close. Price at $510,000, this City of Falls Church home will likely end up being a tear down and re-build, a common theme along this stretch of Lincoln Avenue.

The catch? This is a short sale, so I can only really recommend this listing to buyers who can be patient as the short sale process can be an arduous one. Not only that, the original list price was $450,000, and the home is now listed at $510,000. The good news is, the change in price is a pretty good sign that the bank is involved actively in the approval process and has likely said they need to see $510,000 in order to proceed. The downside is, if that is the case, it may be difficult for a buyer to obtain the property for much less than $510,000 when the closest recent comparable sold for $489,000.

All told though, if it is an opportunity to build new in Falls Church that you are looking for, and you are willing to be a bit patient. This may be the opportunity for you!

902 Lincoln Ave. Falls Church, VA

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