A Few Great Reasons to Purchase (a home) in Northern Virginia

Here are a few reasons that this is a great time to purchase in Northern Virginia now.

1)Existing Home Sales rose 5.1% in February to a seasonally adjusted annual rate of 4.72 Million units. First-time buyers made up about HALF of this number during the month. The first-time buyer tax credit will stimulate the lower-priced homes first and then will help those seller's move up.

2)New home starts are down, there will be less new home sales, less inventory will lead consumers to purchase re-sale properties.

3)The housing affordabitly index hit an ALL-TIME high of 173.5. This affordability will alllow those purchaser's who could not buy before enter the market.

4)Mortgage rates are at a FIFTY YEAR LOW. A home that is purchased at 6% for 360k is equal to a 400k home at 5%.

5)Although unemployment has risen, it is still extremely low relative to National trends and norms.

Thomas Merical