Aug
26

Buy a New Home in Fairfax, VA!

Author // Channel 7 Miami
Posted in // Homes for sale in va, How realtors help, Real estate virginia beach

Homes for sale

For years now, government has extolled to Americans the benefits of buying a new home, and with good reason. Home ownership is not only the biggest driver of middle class wealth, it benefits the community as a whole in a number of ways. For one, areas in which the majority of residents own their own homes have a higher degree of civic participation in both local community and national issues, as well as a higher voter turnout. So too is home ownership correlated with a variety of positive outcomes including lower rates of teen pregnancy, lower crime rates, higher percentages of children graduating from high school, a longer life span and overall better health related outcomes, and increased level of charitable donations. With all of these benefits, why would someone think that buying a new home is anything less than ideal?

The answer to that question, of course, is the Great Recession, a major cause of which was the unsustainable housing bubble that ultimately burst, causing many people to default on their mortgages and precipitating an unprecedented epidemic of foreclosures. The Great Recession made many young Americans skittish about buying a new home, even as mortgage interest rates plummeted to a never before seen low of 2.6 percent. Of course, many people were waiting on buying a new home until the housing market finally hit bottom and interest rates and asking prices could go no lower. That moment, however, has come.

The US housing market, which has been a buyers market for several years, is turning around. Within a year, it will be a sellers market. This means that if you are thinking about buying a new home, right now is absolutely the time to do it, especially for Virginia residents.

There are a number of reasons that realtors in Virginia are currently so invested in providing prospective home owners with tips for buying a new home. For one, the unemployment rate in Northern Virginia is just 4.2 percent about half that of the United States average. So too since August, 2012 has there been a 21.34 percent decrease in the number of days that a Virginia home stays on the market. Thirdly, buying a new home is now less expensive than renting one in the majority of towns and cities in Virginia.

At the moment, Fairfax is the most popular Virginia city in which the greatest number of people are buying a new home. Many young couples spend their weekends combing through Fairfax home listings and are looking to buy new homes in the area. The low interest rates and sticker prices will not last forever. Thus, if you want to buy a new home in the Northern Virginia area, it is time to seize the day and call your realtor. Find more: www.cb-pro.com

Comments (6)

  • October 24, 2013 at 10:13 am |

    I think that most people buying homes in Northern Virginia are probably doing so because they work in Washington DC.

  • Aubree Sharp
    March 11, 2014 at 7:25 pm |

    Yeah, and my understanding is that the Northern Virginia area is really expensive, right?

  • Chester Tate
    April 10, 2014 at 9:56 pm |

    Yeah, and my understanding is that the Northern Virginia area is really expensive, right?

  • Allan Cunningham
    May 11, 2014 at 4:54 pm |

    Yeah, and my understanding is that the Northern Virginia area is really expensive, right?

  • June 10, 2014 at 4:55 pm |

    Yeah, and my understanding is that the Northern Virginia area is really expensive, right?

  • Sam Walsh
    July 10, 2014 at 4:57 pm |

    Yeah, and my understanding is that the Northern Virginia area is really expensive, right?

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