Alexandria City is an attractive hot spot in the DC Metro area with close proximity to everything.
$625,500 is the New Maximum Loan for FHA and Conforming Jumbo! As of mid December the 30 year fixed rate is average 5% with no points! See Details Below Market Stats.
Here are some market stats for the month of December 2008:
In December, the total number of active listings on the market in Alexandria City was 548. Of those active listings, the minimum list price was $68,000 while the maximum list price was $6,400,000. The average list price was $575,949. The average number for property days on the market is 129.
The number of listings under contract was 152. Of those listings under contract, the minimum list price was $54,900 while the maximum list price was $1,665,000. The average list price was $402,955. The average number for property days on the market was 89.
The number of listings that were sold & settled in December was 138. Of those listings sold, the minimum list price was $84,900 while the maximum list price was $1,599,999. The average list price was $468,667. The average number for property days on the market was 82.
$625,500 is the New Maximum Loan! As 1/1/2009 FHA, Fannie Mae, and Freddie Mac loan limits will cap off at $625,500. The FHA plan offers some great opportunities. Here are some of the highlights: *FHA loans can allow a credit score as low as 620 *The borrower has to put in 3.5% of the sales price into the transaction. *All 3.5% can come from a gift if necessary. You need no cash reserves. *Qualification ratios can go as high as 50% for debt to income ratio. *The seller can pay up to 6% of the sales price toward closing costs; however the borrower still MUST put 3% into the transaction. *All single family homes and townhouses are eligible for FHA financing. Condos must be approved for FHA. *FHA does not have an issue with declining markets (Fannie Mae and Freddie Mac do) *This will really help with first time buyers, or buyers who have slightly below average credit and little cash. *FHA mortgages are consumer friendly loans made by private banks that are insured by the government, making them attractive because the government guarantee enables lenders to easily sell off the loans. Buyers and sellers need to be well informed. They need to educate themselves with all the fundamental local information that affects pricing and sales: including time on the market, inventory declines and increases, the overall pace of sales, and the average differential between asking prices and sold prices. With knowledge of this information you will be well positioned to buy or sell.
We would be glad to help you and your referrals with straight forward, world class service and guidance when buying or selling. Our relocation network can help connect you to agents in 63 countries.
For over a host of Facts, Tips, Free Reports, and Mistakes to Avoid, visit www.CaseyOneal.com Feel free to call or email with questions, we want to help you with all of your real estate needs!
VIP Buyer Programs *Beat out other buyers to Hot New Listings (and those with newly adjusted prices) with priority real time automatic email notification - *Foreclosure bargains * 3 Ways to Buy a Home for Less Money * How to Avoid 9 Common Buyer Traps BEFORE Buying a Home * $10,000 Guaranteed savings when you purchase*
Home Sellers * Free Over-the-Net Home Evaluation * 27 Tips to Drive up the Sale Price * How to Set the "Right" Asking Price * 11 Costly Home Inspection Pitfalls * Guaranteed Sale Program
Casey O'Neal, Associate Broker, RE/MAX Allegiance 703-824-4196 casey@caseyoneal.com Serving Northern Virginia for over 23 years
ZIP Codes: 22301, 22302, 22304, 22305, 22311 Approximate Location Boundaries: Alexandria
Location Characteristics: Alexandria City, including Old Towne with historic buildings, shopping, and Metro Stations.
About Casey ONeal, Associate Broker:
What is your biggest concern when purchasing or selling a home? There are always questions and issues that every buyer or seller deals with before they seriously enter the process.
For BUYERS it might be getting the best financing, paying the right price, inspections and property condition, and getting to settlement without any hassles.
For SELLERS it might be pricing their home, making repairs for preparing for the market, and timing of sale, and ensuring a successful closing with no problems.
There are many publications and web sites that offer information about buying a home, although the internet cannot consult, counsel, advise and have knowledge of local laws and market conditions. More importantly the internet cannot understand your goals and needs and care about you as a client.
After 24 years in the real estate business I have learned that educating a client is the best way to overcome fears and apprehension. That is why we have published comprehensive handbooks for both buyers and sellers to explain the various steps and procedures along with our own service process. We also have performance guarantees not offered by the typical real estate agent, one of which is our Easy Exit Agreement. All of our buyer and seller clients have the ability to cancel their agreement at any time, placing you in control.
After handling over 1000 career residential transactions through 2008, we can offer expert advice with proven experience in the Northern Virginia marketplace. Casey is a licensed real estate Broker and is constantly involved with continuing education and has earned the Accredited Buyer Representative designation (ABR), Certified Residential Specialist (CRS), and Internet Professional (e-Pro).
Casey is also is an Accredited Buyer Representative (ABR) designation, which is the benchmark of excellence in buyer representation. This coveted designation is awarded by the Real Estate BUYER'S AGENT Council (REBAC), an affiliate of the National Association of REALTORS, to real estate practitioners who meet the specified educational and practical experience criteria.
Our team member Sarah is an ASP, Accredited Staging Professional. Our seller clients can benefit from this value added service which will maximize their property’s appeal for an increased sales price and faster sale.
We would be glad to help you and your referrals with straight forward, world class service and guidance when buying or selling. Our relocation network can help connect you to agents in 63 countries.
For over 162 Facts, Tips, Free Reports, and Mistakes to Avoid, visit www.CaseyOneal.com Feel free to call or email with questions, we want to help you with all of your real estate needs!
VIP Buyer Programs *Beat out other buyers to Hot New Listings (and those with newly adjusted prices) with real time automatic email notification - * New construction * 3 Ways to Buy a Home for Less Money * How to Avoid 9 Common Buyer Traps BEFORE Buying a Home * $10,000 Guaranteed savings when you purchase*
Home Sellers * Free Over-the-Net Home Evaluation * 27 Tips to Drive up the Sale Price * How to Set the “Right” Asking Price * 11 Costly Home Inspection Pitfalls * Guaranteed Sale Program
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
