Potomac Yard | Del Ray | Old Town Alexandria Real Estate News

Aug. 30, 2006

Reduction, Reduction, Reduction!

From the Laurel Hill Connection:

Local sellers stuck in the mindset of 2005 are learning a new mantra in the world of real estate: reduction, reduction, reduction. Since last year, the area’s available housing inventory swelled to more than 12,000 listings, according to the Metropolitan Regional Information Systems, Inc. (MRIS). With an increase in competition like that, sellers with expectations based on last year’s market have had to make sliding adjustments to sale price.Yet even with buyers in the front seat this year, sales have yet to match last year’s marks. Patient and cautious buyers have helped slow home sales this year. In June, sales slowed 37 percent compared to last year. Under the circumstances, buyers looking for deals don’t have far to go. Link to full article: http://www.connectionnewspapers.com/article.asp?article=69639&paper=80&cat=116

Posted in Uncategorized
Aug. 29, 2006

Hot Loans for A Buyers Market

As we all coast along into this buyers market, we're finding that many of our buyers who are now actively looking, have a large menu of mortgages to choose from. In a time where seller and builder concessions are becoming more common, it is important to understand all of your loan options so th at you can get more house for your money.

* - Need a lower rate to buy but scared of rising interest rates? Consider a 10 year interest-only loan that then automatically transfers into a 20-year fixed loan at the same rate. This give you the chance to build equity and maintain the comfort of having a fixed rate.
* - Buying from a builder? Consider a loan with a longer interest-rate guarantee. If your new construction home will take longer than six months to build, this option can guarantee that y ou lock in at today's interest rate.
* - Need a year or two of breathing room before making full payments? Consider a fixed rate loan with an initial rate buydown. Take advantage of lower payments the first one-three years and the remainder of the loan is fixed. (Note: You can see this example with our listing at http://www.6611NettiesLaneUnitH.com and in the right margin click 'Property Documents' and select the ' Financing Scenario' document).
* - In a high appreciation market and expect to move in 10 years or less? Consider the interest-only ARM loan with a longer amortization period, for example a 10/1 ARM. With interest only payments, you take advantage of lower monthly payments while your equity builds in a high appreciation market.
* - Are you a firefighter, teacher, or police officer, or do you have an income at or below the area's medium? Consider the Community Partnership loan commonly offered by providers like Wells Fargo, Wachovia, and Bank of America. These programs have low down payment options, and offer below market interest rates.
* - Want a traditional fixed rate, but need a lower payments? Consider the newer fixed mortgages that run for 40 years. Equity builds more slowly, but the rate is secure.

These are some of the ways that you can take advantage of owning a home. For more information, please contact us or any one of our lending partners lis ted on our website at http://www.movingtonova.com/buyers_journey.htm.

We'll be around this week for your real estate needs!

Posted in Uncategorized
Aug. 24, 2006

Best Places to find Real Estate and Job Facts

Good 'hump day' to you. I hope you're having a fantastic week so far.

Here are two good ways to stay on top of the real estate trends and the job market here in the Northern Virginia area:

Free reports that are open to the public WITHOUT registration can be found at http://www.MRIS.com. MRIS is the company that provides the Multiple Listing Service (MLS) for all of the listings in the area.To view the historical data and understand the trends in the real estate market, go to the left margin, and \'mouse over\' the \'News\' link, then select \'Market Statistics\'. You can view monthly and yearly reports for all of the metropolitan area.

My second favorite resource is HireStrategy. This website keeps you in the know on jobs and employment in the area. You can browse this site for free, but I do recommend t hat you SUBSCRIBE to the free email newsletter. I was pleasantly surprised to receive the newsletter yesterday to find that \'Forbes Rates Virginia As The BEST State For Business\'! Visit the site at http://www.HireStrategy.com and in the middle, click the article and follow the links to subscribe to the newsletter.

We continue to outperform the rest of the country when it comes to a low unemployment rate. The the job market is the top dog is fueling the local real estate market.

Thank you to those of you who sent your business referrals so far from last week! Please continue to do so and we'll post your referrals for others to see.

We'll be around this week for your real estate needs.

Posted in Uncategorized
Aug. 16, 2006

Back To School - Still For Sale

As we wind down the summer months, it's still a popular time for those end of the summer vacations and getaways. It's also the time where homebuyers who have to make decisions before the school year hustle to find that home so that their children can register for the upcoming school year.

What's the best thing for you to do now if you have your home up for sale? The number one thing to do is to declutter. Show your visitors that not only is there space for your needs, but there is plenty of space for their needs too. Stock on the storage bins, and take advantage of shelving. Do your best to move items from the floor to the walls or closets. For the kids rooms, wall shelving is perfect for those books, CDs, and toys.

Get the clothes organized with do-it-yourself organizers, or have the professionals come in. I've personally used http://www.closetstretchers.com and they have a very fast turnaround, and are extremely affordable. Also, dark bedding makes bedrooms look smaller. Replace dark bedding with simple white or yellow bedding to brighten up a bedroom. And compliment the lighter bedding colors with simple sheer curtains. These quick and easy techniques will improve the showing condition of your home and will hopefully bring you a quicker sale!

We're gearing up for our fall influx of relocating homebuyers. And everybody wants to know: where's the best place to get a good haircut, where in this town can you get a good glass of sweeneted iced tea, and who can you call when you need help planning fun activities for the kids?!

If you can help please let us know!!! We'll post your reputable business and referrals in next Tuesday's check -in and we'll gladly include them in our relocation packets for our new buyers.

Stop in and visit us at MovingToNova.com!

Posted in Uncategorized