For housing, it was a tale of two halves in 2013. During the first half, unusually low supplies of homes and low rates spurred bidding wars, pushing prices up sharply. During the second half, the frenzy cooled amid a sudden spike in interest rates. While more markets are now reporting… read more →
The average interest rate on a 30-year fixed-rate mortgage hit 4.23 percent this week, the lowest since November. U.S. mortgage rates for 30-year loans fell for a fifth week as stock market volatility and weaker-than-expected economic reports drove investors to the safety of the government bonds that guide borrowing costs. The… read more →
The average sales price for homes that went to closing across Northern Virginia’s inner and outer suburbs in 2013 stood at $476,913, an increase of 7.4 percent from the $444,103 reported a year ago, according to new figures. A total of 34,225 residential properties were sold… read more →
Housing is typically the biggest expense in a household budget. It would be nice to reduce that major expense when you’re retired. Once you are near retirement, you might want to consider downsizing or relocating to somewhere more affordable. There are many choices because you won’t be tied down to a location near your (former) employer.… read more →
For many people, New Year’s resolutions often lose their motivational power by the middle of January. But unlike a commitment to save more or eat less, a resolution to refinance can be accomplished within a few weeks and you can reap the benefits for the rest of the year and… read more →
Are you shopping for a home but not sure if you’re ready to make an offer on a property that’s caught your eye? Some home sellers may be willing to let you spend a night or two at the property so you can feel confident with making an offer. You… read more →
Home prices will rise in 2014 but at a slower, more steady pace compared with historical trends. The housing recovery has pushed up home prices nearly everywhere. Prices nationwide increased by 10.9 percent, pushing the median price for existing homes up by $30,000, to $215,000. For people who have waited… read more →
Most home sellers are eager to garner the highest possible price when they put their home on the market. To maximize profits, your home must be in the best possible condition so that buyers compare it favorably to a model home. At the same time, you should minimize the amount… read more →
Home sales have finally begun to slow after a red-hot summer that saw prices soaring so quickly that some began to worry about the return of a housing bubble. But despite the recent housing gains, the country’s homeownership rate has continued to fall. Just 65 percent of households in the… read more →
Buying and selling property is a specialized market where industry professionals often speak a language not everyone outside the industry understands. You can pick up most of the terminology you need as you go, but establishing a solid foundation for your learning is important. If you can learn the top… read more →