Tuesday, April 28, 2009

Courthouse Metro

There are 42 properties for sale around the metro, and only 5 are townhouses - the rest are condo units. The cheapest townhouse is 750k and the most expensive is 970k.
Two townhouses are in BROMPTONS AT ROSSLYN and the monthly HOA fee is over $200...
5 are under contract,=; 7 sold since April 1. Interesting to notice that one townhouse was sold within 0 days and listed at 1,100,000 and sold at 1,043,500... None of them were either foreclosures or short sale.
Location, location, location.... That's what sells even in slow markets.

Sunday, April 19, 2009

King St. Metro - Alexandria

In the radius of 0.5 m from the metro there are more than 60 properties for sale now. The cheapest is an efficiency for almost 300k and the most expensive one is a townhouse - for $1,275,000. Only three of these are short sale! Looks like properties in this area have not gone down in value...6 of the listed properties are new construction. Proximity to metro is the key. People do not want to spend much time looking for a parking place. Hurry! Interest rates are so low.
Those looking to rent can easily find a property - from $1,400/mo for an efficiency to $3,800/mo for a detached house. Need help - I am only a phone call away.

Thursday, April 9, 2009

Low Interest Rates - do not procrastinate!

As you well know, interest rates are very low. And there are quite a few properties on the market - your choice is not really limited. And it is still buyer's market. My advice to you is - do not waste time. Go talk to a loan officer and get preapproved. (If you need help finding one, let me know). Do not waste any more time. This is the right time to buy! There are so many bargain deals: foreclosures, short sales, etc.
As of today, the treasury has bought about $250 billion in mortgage backed securities under their program that is causing these low interest rates. They just started this about three weeks ago. There was a total of $750 billion allocated for this program, meaning that 1/3rd is already used up just a few weeks into it. Once it is gone rates will rise up again. This means that people have another 6 weeks at this pace before the short is over and rates could rise after that.
Good luck!