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Answers (4)
- Greg Lydell's Select Team, "Select Realty Team"
- Contributions:537
The Moyers Team is absolutely correct. Prices have been rising for a year now, although, not to the extent that you see. What you see on that home is probably a "flip" by an investor. They probably bought the house at auction, renovated it, and are selling it at market value. There is very little inventory right now, and many homes are selling with multiple offers. This due primarily because 1st time buyers are able to get 30 yr fixed rates at 3.75%, and owning is now less than renting a similar home in this area.
- Helen Edwards, "Helen Edwards"
- Contributions:478
This is Awesome news for our market in Northern Va. Washington DC is currently listed as one of the Best Places to live in or around. The high volume of jobs and the Potential of a new administration will also turn around the housing market..out with the old, in with the new. Some buyers are seeking homes earlier to beat the rush!
- James Ryan, "GreatRateFolks"
- Contributions:1038
The market is improving, for many reasons, although those stated by the "Moyers Team" make good sense!
Happy House Hunting!
Jim
Happy House Hunting!
Jim
- Dwayne & Maryanne Moyers, "MoyersTeam"
- Contributions:354
Without going into sales and inventory statistics here are the reasons for a spike in Woodbridge and Northern Virginia home prices.
(1) Inventory is low due to the recent halt in foreclosures. This occurred due to self-imposed foreclosure stops due to improper signing procedures by banks on mortgages backed by Fannie Mae and Freddie Mac.
(2) The Home Affordable Modification Program (HAMP) has stopped underwater borrowers from having homes foreclosed. This has helped lower the number of available short sales in home inventory for purchase.
(3) Historically low interest rates have home buyers (especially first-time and investors) pushing forward on home ownership.
Over the last 6 months Northern Virginia has become a seller's market.
(1) Inventory is low due to the recent halt in foreclosures. This occurred due to self-imposed foreclosure stops due to improper signing procedures by banks on mortgages backed by Fannie Mae and Freddie Mac.
(2) The Home Affordable Modification Program (HAMP) has stopped underwater borrowers from having homes foreclosed. This has helped lower the number of available short sales in home inventory for purchase.
(3) Historically low interest rates have home buyers (especially first-time and investors) pushing forward on home ownership.
Over the last 6 months Northern Virginia has become a seller's market.
what is going on in Woodbridge, VA houseing, i notice there is a jumb in the prices of home.
is it really true, that there is no more short sale and no houses in the market or it is a game by the real states.
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