Hi Jay, I have no idea what you are asking me, but suggest to Mishedlo that if he wants a better (or worse) picture of Virginia foreclosures, instead of looking at Arlington, he should look at Prince William. Arlington is right across the Potomac from Washington DC, and the federal government is not laying anybody off. Since we are at war, defense contractors continue to do a good business, as well. Arlington residents are younger, hipper, more affluent, whiter, better educated than Prince William County, VA or Prince George's County, MD. It's all about location.
Woodbridge, VA and Manassas Park, VA, which are less desirable places where blue collar workers live, are the epicenters for my foreclosure/bankruptcy clients. Lots of Hispanics formerly employed in the construction boom, now out of work.
OTOH, we are seeing lenders trying to work out deals, as "exploding ARMs" are blowing everybody up and turn out to be Not Good Things.
My suggestion about your portfolio is to diversify. This is not a good time for making big bets on anything. |
