Monday, January 12, 2009

Short Sale Watch

This 6 bed/3.5 bath home in Bristow, Virginia is for sale for $225,000, which is about $145,000 less than Zillow's estimated value. It last sold for $595,000 in 2005. According to Zillow, the monthly payments for this house would only be $1,200 per month (assuming a 20% down payment, good credit, and a 30-year fixed mortgage), which is less than my current rent. The claimed square footage is 3,000 sqft. The only downside: The commute to DC will take about an hour, assuming good traffic.

For anyone interested in buying this short sale, the listing website is here. Photos of the interior can be seen here.