Through the early spring of 2014, low inventory continues to drive the market. Buyers, recognizing interest rates are still relatively low are out in droves but sellers are still on the sidelines. Yes, the inventory in Northern Virginia was up at the end of March 2014 compared to the end of March 2013 but the […]
Recently I had a home under contract and the buyers were all set to use a 30 year fixed rate FHA loan until I suggested they look at an adjustable rate FHA mortgage. So which is better – fixed or adjustable? Of course, the answer depends on your personal situation. Before we get into comparing […]
Buckle up and let’s take a ride west on Rt 66 starting in Arlington and ending up in Gainesville with stops in Vienna, Fairfax and Centreville along the way. A $500,000 purchase surely is different in each market. This little exercise demonstrates the dilemma most buyers have regardless of price point. Is it better to […]
You have decided it is time to buy a home of your own. You are confident that your personal situation is such that you are able to keep the home for at least 5 years so the next question is affordability. That is a complicated question particularly in today’s tighter lending environment. Let me give […]
(Say that quickly!) I usually just post the monthly numbers in the Market Stats section of the website and do not comment on the numbers but there was one number in the September results that showed a small turn in the market. Most people tout the change in average price as an indicator in […]
Have you ever received those emails that state there is unclaimed money is the state treasury and some could be yours? Then you go to the site to see if a bank turned in deposits from a closed account or there was an unclaimed tax return but sadly, there is no lost treasure in your […]
I have lived in the Town of Vienna since 1989. Amazingly for a Realtor, over all that time, I have not moved. Why? Well, this truly is one of the finest towns in America. CNN got it right. I feel quite blessed to have raised both of my boys here and had them experience everything […]
Rising interest rates have slowed the market just a bit but there is still a shortage of homes for sale (June 2013 inventory in Northern Virginia was 15% less than a year ago). With an abundance of buyers still in the market, multiple offers are commonplace. So how does a buyer compete? Yes, the […]
It’s a jungle out there as anyone looking for a home will tell you. With limited inventory and scores of buyers, multiple contract scenarios are common place. Escalation clauses, appraisal waivers and more more are being included in contracts. How does one increase the odds of a successful bid? Well, the simple answer is […]
Where have all the homes gone? Buyers are out in force but there is so little for them to look at. Since October 2011 the month over month inventory levels have been off at least 10%. ( Oct 2011 vs Oct 2010, etc) Since April 2012 there have been more than 20% fewer homes on […]
