Waiting for a Deal in Bristow-Gainesville Real Estate?
If you are waiting for a deal in Bristow or Gainesville, VA real estate, you may be missing the deal that is right in front of your face. It is so easy to get caught up in the national media hype about it being a buyer's market. In Bristow and Gainesville, we are actually in a seller's market. We don't have enough homes for the buyers that want to buy them. So if you are heading into your house hunt and your idea of success is getting a home for less than a reasonable list price, you are way off base.
The deal you should be paying attention to is the one that makes the bigger difference in your monthly mortgage payment than the sales price of your home. It's the mortgage interest rate you end up with. And you can't expect rates to be in the 3's forever. And when they tick up, even if sales prices fall, you are going to end up with a higher mortgage payment.
Want a deal? Get out and buy a Bristow or Gainesville home in great condition for current market value at the low, low, low interest rates that are going to be a once in a lifetime occurrence. Wait and you'll be sorry because once rates rise, prices can fall but it won't nearly make the low payment you'd enjoy now.