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Northern Virginia Homes for Sale can be easy to find but hard to afford
Northern Virginia Homes for Sale can be easy to find but hard to afford
Northern Virginia Homes for Sale can be easy to find but hard to afford
Northern Virginia Homes for Sale can be easy to find but hard to afford

Northern Virginia Homes for Sale can be easy to find but hard to afford

Homes located in Northern Virginia, specifically Arlington and Fairfax County, have seen a continual incremental inflationary push since the late nineteen sixties.   Three strategies that are best known to guarantee homeownership success are a stable career position with solid credit scores,  having five percent of the downpayment saved up, and a reliable real estate agent that has a relationship with a mortgage banker.

The Northern Virginia market is one of the strongest in the county due to regional growth from the information technology vertical industry and the Federal Government’s appetite for more powerful technology.  There are three intervals that this hard rule real estate growth had exceptions.  The 1991 Japanese Yen deflationary bubble, which has not seen a recovery.  The 2007 subprime mortgage industry collapse.  The third being the 2009 housing bubble crash which was a combination of predatory mortgage lending and mortgage-backed credit derivative.  The smoothing of these economic corrections was counter-weighted by the stability that Federal Government primarily located in Washington, D.C. provided to the surrounding counties.

One of the better advisors that advocates saving for a home is Dave Ramsey.  His approach can be draconian, but his raving fans do endorse his approach.  Even if your earning a million dollars a year, having a savings plan for purchasing your first home is important.  The significance and importance only becomes clear when surfacing one statistic, 82.5% of United States homeowners have their entire wealth tied up in their personal home.

 

LIST OF BLOGS

Avoid Taxes by Keeping Track of Improvements

Keeping track of capital improvements to your home can help you avoid taxes later down the road when you sell it. Some homeowners don't even consider such a thing because they are aware of the capital gain exclusion of up to $500,000 for married homeowners and...

Laying the groundwork for the best mortgage

With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable. Some people are waiting for rates to come down and while they...

Handling an Appraisal Gap

An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer. It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the...

Make your home offer the most appealing

Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot. The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago....

Protect yourself with a new construction inspection

Builders of new homes offer or are required to warrant their work for a specified period. Municipal inspections are generally required during different stages to "ensure the life, health, safety, and welfare of the public" but even if something is missed,...

Higher Interest Rates May be the Help You Need

Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up....

Shopping Mortgage Rates

Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic behaviors, "found that consumers generally search too little, get confused while evaluating complex alternatives, and are slow to switch from past choices, even if it costs...

Selling a Luxury Home: 10 critically important tips

Selling a Luxury Home: 10 critically important tips. The affluent who own luxury properties often value their privacy and require discreet handling of their real estate transactions. Therefore, it is crucial for them to seek the services of experienced professional...

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Shopping Mortgage Rates

Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic...

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