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Answers (12)
- Jeff Thomas, "MortgagesInVirginia"
- Contributions:118
Price, down payment and YOUR cashflow will help decide where to invest your money. Centreville has plenty of commuters that make their way to Washington DC and the Pentagon. Hope this helps.
- Dwayne & Maryanne Moyers, "MoyersTeam"
- Contributions:354
When buying a property for investment purposes anywhere in Northern Virginia, you should consider commuting as a priority for determining the location of your purchase. The Washington, D.C. area is well known for hosting military and government personnel who plan to spend 3-6 years in the area until the next assignment has them moving to a different region of the country or to an overseas assignment.
Purchase a home close to commuter lots, rail stations (Virginia Railway Express), and main transportation routes such as (I-95 & I-66). If your home can attract transient professional tenants, you shouldn't have difficulty in keeping it rented. Additionally, there is always a demand in Northern Virginia for buyers to find a home that will make the commute easier. Keep this in mind, and when the market does a complete turnaround you may have an investment property with multiple offers.
Dwayne & Maryanne Moyers
Top 2% of Realtors Nationwide
Avery-Hess Realtors (Lake Ridge Office)
Maryanne, Managing Broker [contact info removed by moderator]
Dwayne, Realtor ([contact info removed by moderator]
Serving Prince William, Stafford, & Spotsylvania
[contact info removed by moderator]
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:925
Marshaaa,
REALTORS are NOT allowed to comment on "quality" of neighborhoods or schools. The federal government often sends "testers" - some of them very petty - to test realtors' compliance with laws and regulations. For example, describing zip code or otherwise NICE neighborhood to the "tester" as "nice" or "good" could spell trouble for the realtor :-)
The purpose of the laws and regulations is to enforce Fair Housing Laws and prevent discrimination.
However, you can do your own due diligence - feel free to visit my website for school resources. You can visit local police for crime statistics, etc.
I practice real estate in Centreville and would be happy to do market analysis for every property that you consider and discuss the details.
REALTORS are NOT allowed to comment on "quality" of neighborhoods or schools. The federal government often sends "testers" - some of them very petty - to test realtors' compliance with laws and regulations. For example, describing zip code or otherwise NICE neighborhood to the "tester" as "nice" or "good" could spell trouble for the realtor :-)
The purpose of the laws and regulations is to enforce Fair Housing Laws and prevent discrimination.
However, you can do your own due diligence - feel free to visit my website for school resources. You can visit local police for crime statistics, etc.
I practice real estate in Centreville and would be happy to do market analysis for every property that you consider and discuss the details.
- Ed Urbaniak, "TheChinSells"
- Contributions:465
The prediction below for decreasing prices didn't pan out.
The Median sold price in 20120 from feb 2010-feb 2011 increased 26.13%
In 20121 the median sold price increased 29.09%.
In my opinion this is skewed because very few lower priced homes are on the market to sell right now, but still, the market has gone up (probably 3-6%) from last year.
The Median sold price in 20120 from feb 2010-feb 2011 increased 26.13%
In 20121 the median sold price increased 29.09%.
In my opinion this is skewed because very few lower priced homes are on the market to sell right now, but still, the market has gone up (probably 3-6%) from last year.
- myhomebuying
- Contributions:2
Is the situation still the same in 2011 for centreville area? or getting better? appreciate your response.
regards
regards
- Lady Chattel
- Contributions:3110
If you buy a home now and to live in it, it is not an investment. You may not see any equity in the home until after over a decade of ownership.
Why?
1. Further declines in housing prices which will continue for all of 2010, the Fed bribes will stop and prices will go down again.
2. Real Estate in the DC metro is still overvalued.
3. When you sell you have to give 6% of your equity to a REA.
4. Usually takes 10% of the sales price to actually sell the home, so you will need to have more than 10% equity in the home before you realize any investment. Homes are appreciating at about 0% now, and will likely creep at 1-2% for a few more years.
5. All the money you spend to maintain the home or improve it will likely go poof.....
If you are only buying as an investment then you are making a poor investment.
Why?
1. Further declines in housing prices which will continue for all of 2010, the Fed bribes will stop and prices will go down again.
2. Real Estate in the DC metro is still overvalued.
3. When you sell you have to give 6% of your equity to a REA.
4. Usually takes 10% of the sales price to actually sell the home, so you will need to have more than 10% equity in the home before you realize any investment. Homes are appreciating at about 0% now, and will likely creep at 1-2% for a few more years.
5. All the money you spend to maintain the home or improve it will likely go poof.....
If you are only buying as an investment then you are making a poor investment.
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:925
>>>i wanted to know because in future if we wanna sell it which area is ideal?<<<
Marshaaa,
The definition of the "ideal" home or the "ideal" neighborhood is very different for all home buyers - and depends greatly on the needs, desires, and the criteria used.
In addition, the neighborhoods change over time. The neighborhood that is so "perfect" now may be less desirable in 5-10 years from now for any reason: county governmet decision that might negatively affect the area, change in HOA bylaws, power lines, new highway, etc.
You need to do your homework, spend some time in the preferred neighbothood to make sure that you like it, and then hopefully find a home that tickles your heart. Or if not heart, at least your wallet.
Good Luck
- vabroker
- Contributions:164
Marshaa,
Thanks for the reply. Are you looking to purchase a townhome or a detached home. Price Range 100+, 150+, 200+, 250+?
- Marshaaa
- Contributions:2
It will not be a rental property... it is for us to live... i wanted to know because in future if we wanna sell it which area is ideal?
Thanks.
Thanks.
- James Ryan, "GreatRateFolks"
- Contributions:1038
Centreville is a great little community with great prices right now. It is convenient to the greater Washington, DC area yet still self contained. Fairfax County Schools are among the best in the nation. We have had our offices in Centreville for years, and have been very happy here. I wish you good luck in your search in Centreville. I am also happy to help you if you need help finding a great real estate agent. Jim
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:925
Marshaaa,
Real estate agents are NOT allowed to comment on the quality of schools or to pass a judgement about the crime rate or quality of life in any given neighborhood - this is a federal law.
There is a good reason for that. School boundaries change, sometimes yearly, and no real estate agent can guarantee the "safety" or perceived quality of life in any neighborhood or zip code. Real estate agents can have their own personal opinions, but they are just that: opinions and as such are not allowed to be used to influence home buyers.
HOWEVER, real estate agents can provide resources. You are welcome to visit my website - check my profile - and you'll find plenty of resources to learn about the local schools, walk score and neighborhood information. Police can provide you the latest crime rate for any neighborhood.
Let me know if you would like any additional information.
Real estate agents are NOT allowed to comment on the quality of schools or to pass a judgement about the crime rate or quality of life in any given neighborhood - this is a federal law.
There is a good reason for that. School boundaries change, sometimes yearly, and no real estate agent can guarantee the "safety" or perceived quality of life in any neighborhood or zip code. Real estate agents can have their own personal opinions, but they are just that: opinions and as such are not allowed to be used to influence home buyers.
HOWEVER, real estate agents can provide resources. You are welcome to visit my website - check my profile - and you'll find plenty of resources to learn about the local schools, walk score and neighborhood information. Police can provide you the latest crime rate for any neighborhood.
Let me know if you would like any additional information.
- vabroker
- Contributions:164
Will this home be a rental property? Detached or Town? Price Range?
Is buying a home in centerville a good investment property? If so which zipcodes are better?
Thanks
oxo
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