CASH IS KING for Arlington, VA area home buyers!

Arlington, Virginia (and really, most of Northern Virginia) have long been one of the country's most unafordable areas to purchase housing. Residents who wished to live in areas like Arlington or Alexandria/Old Town have had to previously rent due to the high costs. As long term renters, most first time home buyers are very familiar with the neighborhoods and the area in general. They have never had a better opportunity to purchase their first home. Home prices have come down quite a bit from their peaks in 2005, interest rates are very low right now and to top it off there is an $8,000 tax credit being offered by the government in an attempt to stimulate home sales and the economy (that a discussion for another post).

So what's the rub one might ask? Well, with all of these factors coming together right now it has created a frenzy in the $400,000 price range and under. Cash buyers are stepping in and buying lots of the great deals out there. From single cash buyers to groups of buyers that are banded together as investors, most people have recognized that it's a good time to buy a home (that is if it makes sense for your situation).


Sometimes the difficulty in purchasing a home under $400,000 is a result of unrealistic expectations on behalf of the buyer. There is so much activity in this price range that there just won't be any steals, especailly homes in move in condition. That's where a savvy real estate consultant can help you to formulate a good strategy that fits with your goals and objectives and can maximize your buying potential.

Additionally, while REO's/Bank Foreclosures seem to be attracting most first time home buyer's attention, there are plenty of "other" good deals out there to be had. A Realtor with good analytical and negotiating skills can help that first time buyer get the deal that they are looking for in a competitive buying scenario. that's where the rubber meets the road, so to speak.

For those looking to buy their first home, it's a good time to consider making that purchase. Seek out someone who can provide some guidence, formulate a strategy and help you execute it. Then, it's time to enjoy your success!

To find out how I can help you formulate your winning home buying strategy contact Justin Dibbs of Dibbs Realty Group of Keller Williams Realty, Arlington VA. Realtors, call 703-930-5800 or contact me by email to list your property for sale or to purchase a home in Arlington, Alexandria/Old Town, Springfield, Vienna, Falls Church, McLean, Oakton areas.