home search: Is now a good time to buy a home?
- 07/18/13 12:43 PM
Is now a good time to buy a home? That's a question that many prospective homebuyers are asking these days. The answer is yes and no. It's true that mortgage rates remain at record low levels. However, home prices are on the rise, especially in hot markets like here in Northern Virginia. Home inventory is low, which creates more competition for the homes that are for sale. Multiple offers are common right now, as well as homes going under contract within days of hitting the market. There are also fewer short sales and foreclosures than in the last few years. My … (2 comments)
Is now a good time to buy a home? That's a question that many prospective homebuyers are asking these days. The answer is yes and no. It's true that mortgage rates remain at record low levels. However, home prices are on the rise, especially in hot markets like here in Northern Virginia. Home inventory is low, which creates more competition for the homes that are for sale. Multiple offers are common right now, as well as homes going under contract within days of hitting the market. There are also fewer short sales and foreclosures than in the last few years.
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