Buying a piece of real estate is part of the American Dream. But, all too often the process of buying a home becomes confusing when would-be homebuyers are blindsided with unexpected intricacies that aren’t shown on an HGTV show. Because I want to see new buyers get the very best value for their money, here my essential steps for preparing to buy your first home.
Know How Much You Can Afford
An obvious first step. But did you know that most first-time homebuyers get stuck at this stage in the process and never make it out? It is perhaps due to the fear of inquiry. Knowing how much you’re worth may lead you to feel self-conscious or depressed because you may not have enough to buy the
Here at Avery-Hess, we hold the value of word of mouth very highly. For most of us, the opinions of our friends, family and peers matter a great deal when we decide what products to buy or what services to choose. When choosing a Realtor®, why should there be any difference?
We recently received a thank you letter from a pair of very satisfied customers. In this letter, the couple poured out their appreciation to realtor Patricia Mancini for her help in achieving their dream of owning a home. These first time homebuyers complimented Pattie’s preparedness and attention to detail. They were also thankful that she created such a comfortable buying experience for them.
She kept telling us
The market continues to see signs of improvement throughout the area serviced by our multiple listing service. Check out these statistics for the week ending 3/14/09 compared to the same week last year:
New Listings: Down 22.6%
Pending Sales: Up 19.4%
Active Listings: Down 20.6%
Months Supply of Inventory (as of Feb): Down 15.4% (7.6 months supply)
And some of the best news for anyone looking to buy a home: The Housing Affordability Index is at the level we were at in early 2003! This index is at 154 right now, which means that the median income in the area is 154% of the necessary income to qualify for the median priced home under prevailing
In a recent survey released by Forbes Magazine, Washington DC was named the best place to invest in Real Estate in 2009. The turmoil in the financial and credit markets coupled with 4 years of falling home prices have created a "perfect storm" for first-time homebuyers and investors. While the Forbes article focused on Real Estate Investment, this current Real Estate market in the DC area (which includes Maryland and Northern Virginia) provides an opportunity for a wide spectrum of home ownership not seen in the area in more than half a decade.
Home prices are affordable again for many home purchasers, and coupling that with interest rates hovering at or below the 5% mark really makes for