Mortgage rates are showing a slight decrease for home buyers in Alexandria with FHA, VA and conforming conventional loans in the 5 percent and 0 point range. Rob Clark, our go to mortgage guy offers this observation on the market:
"With limited economic data released last week, mortgage rates continued their recent trend of slowly moving downward. While we continue to see limited activity outside of conforming and FHA-backed mortgages, it is worth noting that jumbo mortgages are beginning to reappear more widely in the market, and the difference between conforming and jumbo rates has been shrinking.
This is a week full of economic data for markets to sort through. With recent signs that the labor market could be hitting bottom, any signal that indicates that the recovery is beginning to power up could start pressuring mortgage rates upward.
Both Retail Sales and Industrial Production are due this week. If these two influential reports show greater strength than anticipated, then the likelihood of increasing rates will grow. However, if they both come in lower than expected, we could see this trend of very slowly decreasing rates continue.
Both the PPI and CPI also are also due this week. If they are near expectations, they will create some additional downward pull on rates."
Next we'll be bringing you up to date information on the extension of the first time home owners tax credit so stay tuned.
On a beautiful November Sunday, the George Washington Parkway was alive with activity - biking, walking, running and sitting on a bench - and wonderfully quiet in its beauty.
A November Sunday on the George Washington Parkway.
October home sales in Alexandria's Del Ray neighborhood show a decline in the number of sales from a year ago - 15 in 2008 to 10 in 2009 - but with an increase in home values.
The average price is up almost 9.4% with the average number of DOM (days on market) down from 91 to 50 for the same time period.
These numbers are a good reflection of both the stability of the real estate market in Northern Virginia and the continuing overall turnaround.
Want to know more specifics about October home sales in Alexandria's Del Ray neighborhood? Give me a call at 703.927.4554 or email me at michael.bergin2@verizon.net.
Rivergate, the second in our series about Alexandria's Waterfront Parks, is also one of the smallest. A little less than 2 acres, the park is located at the junction of Madison Street and the Potomac River.
In fact, driving south on Madison Street will lead you directly into a small parking lot for this space. Bordered on the north by Tide Lock Park and on the south by Oronoco Bay Park, Rivergate is a tidy nugget in the linear parks that front the Potomac River.
Although considered a city park, Rivergate is actually owned by the Rivergate Owners Association with permanent public access to the waterfront park area. The land east of the bike path is maintained by the city with an annual contribution from the association.
Rivergate City Park offers cycling, jogging, shaded picnic tables, all important benches for sitting and a terrific volleyball court.
Another feature of the park's location is the Alexandria Boat House, a joint venture of the City and T.C. Williams High School. While the high school boasts a nationally and internationally known rowing program, the facility is also home to Alexandria Community Rowing.
The boat house in an integral part of the Alexandria community and a perfect addition to its waterfront.
This rain will be over soon and when it is, treat yourself with a visit to one of Alexandria's Waterfront Parks at Rivergate.
Related Story:
Del Ray's MV Big Flea is ready to start taking donations for its April 24th sale. Wait. What? You're new to the area and don't know about the MV Big Flea?
Alexandria's biggest charity flea market, the MV BIG FLEA is organized by and supports the Mt. Vernon Community School PTA. Located in the heart of Del Ray, this annual event raises more than $25,000 for PTA projects.
And now that you know - the Big Flea is accepting drop-off donations at its storage site: 409 E. Alexandria Avenue on Sunday, November 22nd--from 1-3pm only.
The MV Big Flea accepts items that have resale value. In recent years, that has included electronics, furniture, antiques, collectibles, jewelry, kids items (toys, strollers), bicycles, household furnishings, sporting goods, artwork, small appliances and more. If you think your item can be resold, we’ll likely accept it.
We’ve also learned that some items just aren’t right for the MV Big Flea. As a result, we cannot accept the following items for donation:
For more information and additonal drop off dates, visit the MV Big Flea's Web site.
Del Ray's MV Big Flea is Ready for Donations
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An Accredited Buyers Agent and Senior Real Estate Specialist. Graduate, Realtors Institute. Working with first time buyers and military families is a priority. Licensed in Virginia and WDC.
Alexandria - Northern Virginia's Best Small City
A busy community in the heart of Northern Virginia, Alexandria offers the best in small city living:
a thriving downtown
tightly knit neighborhoods
high walkability scores
public transportation
Working with first time home buyers and military families makes me glad to be an agent. Answering questions and walking buyers through the process never gets old!
If you are first time buyer or a buyer new to the Commonwealth of Virginia, it is important to understand the role of real estate agents in your transaction. Virginia allows the buyer a choice of who will represent them in the purchase of a new home. This person is known as a buyer's agent.
Imagine that you are out and see an open house sign. You go in, look around and begin talking with the on site agent. This person is usually a listing agent. It means they have signed a listing agreement with the seller that clearly states that they will act and protect the seller's interest in the transaction.
Because they represent the seller, the agent cannot give you unbiased advice on pricing, inspections, comparable sales, contingencies, etc. In fact, any information that you receive will all be in favor of the seller. There is actually nothing wrong with this, the listing agent is just doing his or her job, but as a buyer, you want someone representing your interests. That's where an Accredited Buyers Representative comes in.
An Accredited Buyers Representative (ABR) is a licensed real estate agent who has completed an additional course of study and serves specifically as an agent for buyers in a real estate transaction. Buyers sign an agreement with an agent, just like a seller signs a listing agreement. As a Buyer's Representative I make sure my clients are well served in the negotiating process and fairly represented.
I am also a Senior Real Estate Specialist, working with a team of profesionals to make the buying and selling process for "seniors" as uncomplicated and streamlined as possible. My interest in this area comes from personal experience with my own parents and with my mother-in-law. I can recommend everything from moving companies to move in specialists to assisted living facilities. If you are helping an older family member make a move, give me a call.
“I referred a real estate deal to Michael and he handled it like a Pro!” Steve R.
"We first met Michael when we moved to the Northern Virginia area as renters. A year later when we decided to buy we called Michael to help us find a foreclosure in our price range. He never lost patience or confidence that we would find what we wanted and answered all our questions, multiple times over! We highly recommend Michael and look forward to working with him again in the future." Jimmy and Karen W.
"We met Michael at an open house and he went on to help us buy our very first house. Two children later we called Michael to sell that house and to find us a new one. He did both in short order and with great good humor, patience and professionalism. When a sticky situation arose around move in day, Michael was right there, working with the seller and her agent to resolve the issue and avoid delays. Michael is a pleasure to work with and we can't think of a better agent in the Northern Virginia area." Frank and Gillian H.
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