Waiting for a Deal in Bristow-Gainesville Real Estate?

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

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.

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Virginia Prince William County Bristow
Groups:
VIRGINIA
America's Best Agents
The Vent
Bananatude
Bartender, Make it a Double
Tags:
great deals in bristow va real estate
great deals in gainesville va real estate

Spam prevention
Show All Comments
Rainmaker
850,184
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I like the way you explained that there is more than price.

Mar 23, 2012 12:58 PM #1
Ambassador
413,797
Emily Medvec Qualifying Broker
Hello Realty - Santa Fe, NM
Realtor | Serving Santa Fe & Northern NM

You are right on target about where the deal is today in many local real estate markets as the choice inventory has been already sold and demand and supply is making a comeback. The deal is now in the historically low mortgage interest rates. Your logic should motivate the savvy buyers to jump of the fence now.

Mar 23, 2012 01:51 PM #2
Rainmaker
308,508
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Chris Ann.   Have been saying this over and over.   See something you like, jump on it.   Even those afraid to sell because they are taking less.  In most cases they are picking it up on the buying end.   

Mar 23, 2012 11:05 PM #3
Rainmaker
3,021,019
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Good Morning Chris Ann, fantastic blog towards buyers that may be waiting. Now is certainly the time before those interest rates inch upward. Have a great Saturday

Mar 23, 2012 11:31 PM #4
Rainmaker
2,189,919
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

We are in the midst of a strangling seller's market in Sacramento too. It's brutal. New listings have agents swarming all over them like ants to honey. I can't throw my short sales into active short contingent status fast enough to stop all the offers from rolling in after acceptance.

Mar 24, 2012 03:01 AM #5
Ambassador
2,790,824
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Chris Ann - We have a similar situation, also because of low inventories, leaving buyers with limited choices and not a lot of bargaining power - but the deals today are certainly in the financing, as you point out.

Mar 24, 2012 03:14 AM #6
Ambassador
3,092,992
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Mark:  The price is a factor, but accounts for only 1/3 of the total price over 30 years....maybe less.

Emily:  It's funny, in the boom when buyers should have been more cautious about over spending, they couldn't spend the money fast enough.  Now, when there is an unqesutionably great time to buy, they want discounts.

Carol Ann:  If you like it and can afford the deal that works for the sellers and would apprasie, make the deal.

 

Mar 24, 2012 03:33 AM #7
Ambassador
3,092,992
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Scott:  Sure, prices may come down again, but it doesn't matter if interest rates go up.  And let's face it, that's the only way they have to travel at this point is up.

Elizabeth:  Same here, and yet, some buyers are hung up on getting a below market deal.  Not happening.  And here's a clue, when you do get something below market, your sale just changed market value so there is no such thing as instant equity.

Dick:  We have to remind our buyers about that as they struggle to figure out what's in it for them in the various seller's markets in our nation.

Mar 24, 2012 03:36 AM #8
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,092,992

Chris Ann Cleland

Associate Broker, Bristow, VA
Email Me For a Free CMA of Your Home's Value
*
*
*
*
Spam prevention