The Commonwealth of Virginia has just given consumers hoping to buy their first home in Alexandria VA over 15 millions reasons to get off the fence and purchase a home. This aid which encourages buyers to use the Virginia Housing Develpment Authority (VHDA) program is ideal for those who are currently renting and are indecisive about getting into the real estate market.
For more information, view the full article as reported by the Alexandria Times newspaper.
As a buyer's agent, I can tell you first hand that there are so many opportunities right now. There's no sense of urgency like there was in the past sellers market, and buyers can protect themselves with necessary inspections in addition to seller or bank paid closing costs. All of the foreclosure homes that I have sold resulted in the buyer receiving closing cost assistance.
This is very important because as the cost of living continues to increase, many buyers find it harder to save extra money for down payment plus closing costs. Buyers now have the advantage of these down payment assistance programs to help defray the costs of securing a home. Typically, closing costs run between 2-3% of the sale price, depending on the financing and can be negotiated between the buyer and seller.