4 Reasons Why Now Is the Time to Buy in Northern Virginia – Plus One
Many anxious buyers have been sitting on the sidelines waiting for the time to finally make their move. There are 4 reasons why the time to buy is now.
First – sellers realize that correct pricing allows buyers to see value. Those sellers who see the high level of housing inventory as reflected in the market graphs included here are offering realistic prices that get buyer action.
Second – historically low interest rates that allow a buyer to get more house with the same monthly income. The March publication of the Housing Affordability Index by the National Association of REALTORS® stated, “the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970.” More homes are now more affordable for more buyers.
Third – the newly announced 2009 U.S. government tax credit of up to $8,000 for buyers who have not owned a home in the last three years. The principal residence must be purchased before December 1, 2009.
Four – current homeowners who must move, and need to sell before they can buy, will quickly realize that even though their current property may decreased in price, they will be buying a home at a lower price than the previous market. This fourth factor helps level the playing field between buyers and sellers and we consider it a plus one.
For more information on how these 4 reasons play out in each of several close in Northern Virginia areas, click on the specific cities or counties below:
Want more information in general or on specific properties? Call me at 703.927.4554 for the most accurate information available.