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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

If you’re on the sidelines, at least get ready…

If you're on the sidelines to buy a home, there are things you can do to be ready when you do get back in the game. Improve your credit score to qualify for the best mortgage rate available which are reserved for those with the highest scores. Get a copy of your...

Negotiating Your Position

The seller wants the most for their home and the buyer wants to pay the least possible. From the very beginning of the homebuying process, there are adversarial positions between the principals. If you happen to be in a multi-offer situation, it just complicates...

Turn Back Time

As the expression goes, "if I could turn back time", maybe you'd would do some things differently. If you're wanting to buy a home, the regret may come from not getting a mortgage when rates were half of what they are today. There may not be a way to...

Buy Now, Refinance Later

The dilemma facing would-be buyers today is to wait until things settle down or move ahead in this unsettling economic environment. More specifically, the question should be, what are you waiting to settle down: mortgage rates, or prices or both? Mortgage rates...

Does high inflation discourage your from buying a home?

Inflation devalues the purchasing power of money and the interest earned on savings is almost always less than inflation. Tangible assets like your home consistently become more valuable over time. In inflationary periods, a home is a good investment and a hedge...

Did you know this about your credit?

Credit scores are used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit. The score is a numerical value ranging from a low of zero to a high of 850 or 900 depending on the credit bureau....

Waiting for the Mortgage Rates to Come Down

Waiting for the mortgage rates to come down before you buy a home may not be a good decision. If you are correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase. As of...

Downsizing Options

Opportunities exist for a subset of homeowners, possibly in their 60's to 70's, who want to downsize to smaller homes for convenience, less maintenance, change of lifestyle, or to save money. These homeowners are more likely to have large equities and will not feel...

Concessions Make Your Home More Marketable

Sellers offer concessions as an incentive to encourage buyers to purchase their home. The concessions, paid for by the seller, benefit the buyer in ways that may be more appealing than possibly, being able to purchase the home for a lower price. In some situations,...

Building Your Home Buying Team

There are a lot of professionals involved in the homebuying process. And when these people can function as a team, the buyer is much more likely to end up where they want to be...in their new home. The lender is an integral part of the team unless you are going to be...

RECENT POSTS

Negotiating Your Position

The seller wants the most for their home and the buyer wants to pay the least possible. From the...

Turn Back Time

As the expression goes, "if I could turn back time", maybe you'd would do some things...

Buy Now, Refinance Later

The dilemma facing would-be buyers today is to wait until things settle down or move ahead in this...

Downsizing Options

Opportunities exist for a subset of homeowners, possibly in their 60's to 70's, who want to...

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