Real Estate and Mortgage Updates for Northern Virginia

Today’s snap shot of the real estate and mortgage market in Northern Virginia includes reports from Rob Clark at Preferred Mortgage and  the Washington Post.

Rob reports a “wild ride” with the week ending about where it started but with lots of volatility.  The current, conventional 30 year loan rings in at 6.25% with 0 points.  For more, click here.

In a report called “Snapshots From a Slow Market”, the Washington Post looked at eight neighborhoods in Northern Virginia, Maryland and the District of Columbia.  With one neighborhood showing a change of  -44.7% from September 2007 till now and another showing a change of +66% during the same time period, it really illustrates how the real estate market needs to be viewed on a micro level.  Just like politics, all real estate is local!

Are you ready to look at the local market?  Call me at 703.927.4554 and we’ll look together.

Michael