3 Categories of Properties on the Market for Buyers

There are basically 3 types of properties on the market for buyers to consider.

Opportunity Properties- These are properties that are at or below market price. They are on the market less than 6 weeks before they are sold. You can generally occupy them within 30 days and they need to be brought up to move in condition.

Deal Properties- Bank owned or REO- can usually be bought for less than market value from 10-20% depending on the supply in your area. Leesburg VA has a very low supply now and these will be closer to market value in price when inventory is low.

Everything Else-These are not a deal, not an opportunity and you should likely leave them.