Living in the Fairfax area means being able to own a home in one of the most beautiful regions of the country. But, sometimes, ownership can become untenable and people lose their home.
No one wants to deal with a foreclosure because it is a sad day when someone loses their home because of financial distress. But it does happen and, unfortunately, when a home is left vacant by the prior owners, it often has to undergo a major cleanout. Fortunately, Junk King Fairfax is the “go-to” team for foreclosure cleanouts.
While the work of cleaning out a house isn’t exactly rocket science, it’s also something that listing agents shouldn’t be doing themselves. And having a cleanout strategy can make the process far easier and efficient.
This is important since, unfortunately, the cleanout portion of the foreclosure process is often approached haphazardly without any real planning. And sometimes when it comes to cleaning, little or nothing at all is done.
Real Estate Trends and Foreclosure Cleanouts in 2020
Until recently, it seemed that foreclosures were a distant memory as the housing market boomed and grew. However, recent events have combined to change all that.
Between the crushing blows on the U.S. economy, the ongoing impact of the coronavirus fallout, and the uncertainties of changing political winds, the future of the American housing market is somewhat less than predictable.
For example, real estate property data provider ATTOM Data Solutions has warned of a potential increase in the number of foreclosures throughout the country.
“The United States faces a possible foreclosure surge over the coming months that could more than double the number of households threatened with eviction for not paying their mortgages.”
However, while that may sound dire, the actual number would still be almost three times lower than the number of foreclosures we saw at the peak of the 2009 housing crash. In other words, even if the number of quarterly foreclosures doubles, it will still be far below what hit the housing market over 10 years ago. And, according to one real estate source, it will still only be more in line with a historically normalized range.
That’s the good news!
But there are some troubling factors, as well. In July of 2020, for example, the national delinquency rate for FHA-Insured home loans rose to 17 percent. However, of the top ten cities with the highest delinquency rates, the Washington D.C. area came in at number six with a 22 percent rate of home loan delinquencies. That’s five percent above the national average.
In Fairfax County, things are better, but it’s also a mixed bag. According to data from RealtyTrac, Fairfax County, Virginia had a foreclosure rate of 1 in every 10742 in August of 2020. The top five cities for the highest foreclosure rates looked like this:
- – Reston 1 in every 5797
- – Fairfax Station 1 in every 6008
- – Fairfax 1 in every 10049
- – Falls Church 1 in every 10395
- – Alexandria 1 in every 12282
In other words, there are hundreds of foreclosed homes in and around the Fairfax, Virginia region and more are sure to come up in the future. And many, if not most, of these homes will require a foreclosure cleanout.
Real Estate Professionals and Foreclosure Cleanouts
So, who has to take care of the foreclosure cleanout on that recently abandoned home? The answer is, “It depends.”
The owner of the house is ultimately responsible for cleaning, repairs, and so forth. With a foreclosed property, this usually means a bank. Thus, most foreclosure properties are known as bank-owned or real estate owned (REO).
According to Zillow,
“A bank-owned or real estate owned (REO) property is one that has reverted to the mortgage lender after the home fails to sell in a foreclosure auction. Once the bank owns the property, it will handle eviction (if necessary), pay off tax liens and may do some repairs.”
What actually occurs in most situations is that the banks employ REO professionals who are then responsible for the process of selling the foreclosed property. These specialized real estate listing agents are known as REO agents and work with banks that hold foreclosed properties.
Their focus is to quickly turn around a repossessed property for the bank or asset manager. Part of this work requires REO listing agents to hire foreclosure cleanout professionals.
Foreclosure Cleanouts From Fairfax to Woodbridge and More
Whether you work in and around Falls Church, Centreville, Vienna, or Arlington, as Realtors® and REO professionals, you know that working with foreclosed properties often means having to clean out the junk left behind by former homeowners.
Understandably, the prior residents often feel they have little or no incentive to leave their repossessed home in a salable condition when they leave.
However, that also means that many foreclosed properties are left with trash, abandoned furniture, and other property that now has to be removed and hauled away. What is even more unfortunate, especially for the listing agents, is that this task then falls to them as the representative of the bank or finance company that now holds the property.
The good news is that Junk King Fairfax is the best solution to the problem of foreclosure cleanouts.
In fact, Junk King Fairfax is the leading commercial junk removal service in the region and our real estate junk removal team can take care of the cleanout process for you. As a real estate agent, having this huge task taken off your to-do list is a big step towards getting that property ready to sell!
From Manassas to Alexandria, Reston to Springfield, and pretty much everywhere in between, the expert junk removal teams at Junk King Fairfax are standing by to ensure that your real estate cleaning needs are quickly, efficiently, and professionally taken care of.
And you’ll love our fair and transparent pricing that sets us apart from the rest. In addition to offering great service, our pricing is the lowest in our service area
Your Expert Team for Foreclosure Cleanouts in the Fairfax Area
If you live near Washington DC along Interstates 95, 395, or 495, as far out as Fairfax Station, or up around Herndon, we’re here to take care of your junk removal needs.
Even if you aren’t looking for a foreclosure cleanout, maybe you have a pile of old junk you need to get rid of. Or perhaps your big landscaping project is finally completed and now you need to get rid of the trash and yard debris. Or perhaps you have a storage space at work filled with old office furniture you’ve decided to toss out.
Whatever the reason, if you’ve got junk, your next best step is to call Junk King Fairfax.
Junk King Fairfax offers efficient, safe and environmentally-friendly junk removal services that take the work and worry out of the disposal of your junk. Our experienced junk removal team will carefully remove and haul off any types of junk you have, and our big, red trucks are specifically designed to handle all your large junk items.
So, ready to get rid of your old junk? It’s as simple as 1, 2, 3.
Our professional and insured junk removal team will show up at your home or office, and we’ll call 15 minutes before we get there. Once we’re on site, we’ll give you a free estimate based on how much room your junk takes up in our truck.