Is it a good idea to buy in Manassas?

As I always do, I surf the world wide web for ideas.  Ideas on anything, really!  Sometimes thinking about unrelated topics helps me brainstorm.  I came across a recent post that simply asked " Is it a good idea to buy in Manassas?"

I believe it all depends on you, the buyer.  Is Manassas where you want to live?

Location is everything.  Manassas homes offer views, great schools, newer homes, home close to transportation, homes close to work, homes close to entertainment, homes with pools, homes by recreational activities, homes near farms, homes on a golf course, homes by shops and grocery, or homes away from it all.

Manassas home values as of April 2013 have increased 64.1% since our real estate market bottom.  Manassas April 2013 average home sold price is currently at the average home sold price of 2004.  Our real estate market peak was in 2006.

According to Freddie Mac annual average mortgage interest rate in 2004 was 5.84, right now the average mortgage interest rate is 3.49. 

Buying a home in 2004 that cost $300,000 with 20% down payment would be $1414.00 monthly estimate principal and interest only.

Today buying that same price home with the same down payment would be $1076.00 monthly estimate principal and interest only.

Speaking with a mortgage lender would provide detailed results specific to each borrower this is an estimate showing how lower interest rates save home owners money each month.

With all that has been mentioned, can you answer the question? Is it a good idea to buy in Manassas?