N.Va. Foreclosures Form 'Ring of Fire'

Chain of Housing Crisis Hot Spots Indicates Disparity in Market Downturn

By Nick Miroff
Washington Post Staff Writer
Sunday, March 23, 2008

As the surge in foreclosures continues and banks repossess more and more houses, property values are declining -- but not everywhere, and not by equal measure, Thompson and other real estate agents said. No part of the region is untouched, but most foreclosures are clustered in certain neighborhoods and several troubled Zip codes. Rather than a sea of slumping housing, Northern Virginia has an island chain of hot spots.

As a whole, the Washington region was doing much better than other parts of the country, mostly thanks to low unemployment. "All the local fundamentals remain strong,"

This is an interesting article...please click here to read the entire "Ring of Fire" article.

Have a great week...

Angela Jones
AngelaJonesRealEstate.com