Home prices are up, but so is inventory in Northern Virginia, which is proving to help both buyers and sellers as we move into the dog days of summer. With 30-year fixed rates as low as 3.8 percent, conditions are ripe for continued steady activity as we head into the fall. Although average home sale prices in June for Northern Virginia were virtually unchanged from June … [Read more...] about Higher Prices, Inventory, and Low Rates Benefit Both Buyers and Sellers
Buying Tips
VA Loans Offer Great Benefits for Veterans
Among the variety of loan choices for hopeful home buyers, a good bet could be a VA loan for current and former service members in good standing. But some may not know the ins and outs of a VA loan, so we thought we’d highlight some VA loan features. To do so, we contacted our friend Eric Boutcher, team loan officer at Atlantic Coast Mortgage LLC, to fill us in on how a VA … [Read more...] about VA Loans Offer Great Benefits for Veterans
Contingencies Allow You To Ease Into Your Home Purchase
That hint of angst, uncertainty, and hesitation a homebuyer might feel before signing an offer on a new home is common. But don't fret. Even with a ratified contract, a buyer still may legitimately get out of a contract through a number of release points—or contingencies—that protect buyers and sellers from surprises and unforeseen problems. They actually help turn the path to … [Read more...] about Contingencies Allow You To Ease Into Your Home Purchase
Morgage Rate Update: Buy Now or Pay Later?
In a recent piece for The Washington Post, Kathy Orton highlights two studies that point out something I've been alerting my clients about recently: the impact of potentially rising interest rates. Truth be told, we've been hearing for years from mortgage experts and market analysts that mortgage interest rates will rise considerably in the near future, yet rates remain at … [Read more...] about Morgage Rate Update: Buy Now or Pay Later?
VA OKs Tax-Free Savings Accounts for 1st-Time Home Buyers
Virginia lawmakers passed a bill last month that allows first-time homebuyers to establish savings accounts for funds used solely for down payments or closing costs. Beginning July 1, Virginia first-time homebuyers will be able to contribute up to $50,000 to the savings accounts, with account earnings exempt from state taxes. “The bill establishes an individual income tax … [Read more...] about VA OKs Tax-Free Savings Accounts for 1st-Time Home Buyers