No More No Money Down Options - 08/11/08 11:18 AM
Buyers - do you know that "no money down" programs are disappearing?  The most popular of these programs used with FHA is the Seller Funded Down Payment Assistance program.  Recent legislation says the program will begin being phased out on October 1st.  There is little guidance, and we're not sure when you'll have to close, but you MUST have a ratified offer and FULLY APPROVED LOAN by 10/1 in order to take advantage of this program.
Thinking of buying in Northern Virginia?  Follow this link and click on the Home Search Option (www.VickyChrisner.com).  Thinking of buying in another area - contact me for a … (0 comments)

Continued Signs of Stabilization in Northern Virginia - 08/11/08 08:17 AM
In the last few months, I have mentioned positive trends in the real estate market within Northern Virginia, and I am pleased to say that the statistics continue to back up my statements. The region is showing signs of stabilization.July's statistics (published by MRIS) show that Northern Virginia (defined as Fairfax & Arlington Counties including the cities of Fairfax, Falls Church and Alexandria) indicate the following:* While prices are down about 13% compared to last year, sales prices took their biggest hit in January of 2008, and since then seem relatively stable with only minimal changes in average sales prices each … (1 comments)

Another Market Shift (Loudoun County, Va) - 08/03/08 06:17 PM
Could the "Whisperers" be right (click to see original post)?June's month end reports for Loudoun suggest that may be the case.Although sales prices are down about 17% from last year; market activity is UP, with a 19% increase in the number of homes going under contract compared to the previous year.NAR says a "balanced market" carries about a 6 month supply of homes (meaning that at the current absorption rate, it would take 6 months for all the homes to go under contract). In Loudoun, as of the end of June, we're at just over a 5 month supply.It's also important … (0 comments)

NEW CUSTOM HOMES UNDER $200K in No. Va? - 08/02/08 05:47 PM
It's true... you can have a semi-custom home built in Front Royal, Winchester, Strasburg or Stevens City for less than $200K... check out this builder's web site.  He'll build on his lot, or, we can help you find a suitable lot for you; all included in this price.  Amazing!
www.lvc-homes.com
 
… (0 comments)

Northern Virginia Statistics for Sellers - 08/01/08 07:46 PM
So, you're thinking of selling... wondering what the market's like? Here are some interesting statistics, published through the end of last quarter (June 2008)... and a bit of information about how to interpret it:In Northern Virginia (No. Virginia is defined by MRIS as Fairfax Co. & City, Alexandria, Falls Church and Arlington)* Prices of SOLD home are down about 15% from last year.* The number of homes sold are down about 5% from last year.* The average number of days a home stays on the market is 83.* The SOLD prices of homes is, on average, 93% of asking price.Who the … (3 comments)