Tag Archive: First Time Buyer

What Makes A Good Starter Home In Northern Virginia?

The term “starter home” is one you probably see and hear often if you are considering buying your first home. I am always trying to keep an eye out for ideal starter homes inside the beltway, but what actually makes a good starter home, specifically in Northern Virginia? In my mind what constitutes an ideal…

Home Buyers Guide: Competing In Today’s Housing Horse Race

The Reality Today I stopped into a North Arlington open house, a 4 bedroom colonial¬† in great shape, listed for $879k. The property went on the market 3 days ago. Today it went under contract before the first open house even began. Another home this week, listed at $1.425m, also in North Arlington, built in…

Northern Virginia Real Estate Sucks

Well for a lot of folks, it does! Unless you bought prior to 2003 and did’t take out any equity during the peak. In that case Northern Virginia real estate is probably pretty amazing. Reality is: Many individuals have to save well into their 30’s to be able to buy and put down enough to…

Mortgage Rates Continue to Rise

Last week I did a post highlighting the rise in interest rates over the course of the previous 5 days. Well the trend has continued. The rate which had gone up from 4.17% ¬†to 4.51% in under five days is now up to 4.625%. The current rate includes one discount point (1% of the loan…

Buyer Frustration Reigns – Part 1

First time home buyers in the Northern Virginia area are finding themselves among scores of other frustrated and increasingly disinterested would be purchasers these days. With the $8, health 000 tax credit deadline looming hundreds of well intentioned and capable individuals in our area will be left out. With multiple contracts on most everything (under…

Home Buyer Tax Credit Expiring: Buyers and Sellers Can Benefit

There is some speculation that the $8,000 First Time Home Buyer Tax Credit will be extended beyond the current deadline and potentially increased. Conjecture aside, what we do know at this time is that the current credit is set to expire on November 30th of this year. This gives a narrow and closing window of…