Okay, by now you have heard it time and time again. BUY NOW DON’T WAIT! But why should you buy your first home now? Why is it different this time around? And how can you be sure we are at the bottom of the housing market?

Reason number 1: $8,000 First Time Buyer Tax Credit. This is a great program to help offset the expense of that first year of home ownership. Think about it, not also will you get $8,000 for buying your first home but you will also get a great new tax deduction for paying interest on your home mortgage. That can add up to lots of new flooring, windows, and paint!

Reason number 2: Interest rates. There is no debate that interest rates are STILL at all time lows. Almost 15 years ago when my wife and I brought our first home WE were ecstatic when our loan officer offered us a 6.33% 30 year fixed rate. Rates are now currently hovering in the low 5% range for a 30 year fixed rate.

Reason number 3: Amazingly Low Housing Prices. The Loudoun County and Fairfax County home prices are at multiple year lows. Some areas such as Ashburn and Brambleton haven’t seen housing prices this low since early 2000.

Reason number 4: Housing Inventory. Although housing inventory stock is at 5-year lows in most regions there are still great deals to be had. I have found great deals on single family and townhouses in Ashburn, Brambleton, Herndon, Reston, Sterling and Chantilly. I’ve even seen great values in high end areas like Mclean and Great Falls! In most cases these deals are in overlooked established neighborhoods.

So, what are you waiting for? The water is great jump in!

Need more information on neighborhoods, pricing or housing inventory? Call or email me now!

Chuck

Serving all of your Ashburn, Leesburg, Mclean and Loudoun County area Real Estate needs!

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