Buy a House Fast » Grant Funding

Trading up in Northern Virginia

Abby Johnson — Thu, 09 Jul 2009 22:11:15 +0000

Sell for more…

If you follow Arlington real estate closely, you may already be aware of the scarcity of homes listed for under $400K. It’s a buyer’s market right now, but there are always exceptions by region/price range if you know where to look, and this is one of them. Properties that fall under this category in the northern Virginia area are in short supply, and as a result, are listing (and selling) for more than they normally would.

…then buy for less

The flip side to this phenomenon is its effect on homes valued ABOVE $400K… Because of the oversaturation of properties at this price point, home sellers are accepting offers lower than their home’s true worth, putting the advantage squarely in the hands of the buyers.

Now is the time to upgrade

If you’re a homeowner in Arlington with a home worth less than $400K, you now have a unique opportunity to “trade up.” In this market, you can sell your home for more than its value and use the money to pick up a more expensive home at a discounted price. This is a solid long term move, and a chance to secure a nicer living space for substantially less than you would normally have to pay.

Any of this sound good to you? If you fit the criteria described above (or are simply interested in buying or selling a home), get in touch with us now and learn how to make the best move possible in the current real estate situation.

The Home Inspection Formula

Abby Johnson — Thu, 09 Jul 2009 22:07:08 +0000

Nowadays, it’s standard practice for a home inspection to precede purchasing a house. Think about it: wouldn’t you want to know as much as possible before making one of the biggest decisions of your life? The same way you ask for a vehicle history report before buying a used car, you ask for an inspection to know what it is you’re getting yourself into, and to be aware of any red flags (or existing problems) that may need to be dealt with down the line.

Not always included

What you may not know about the inspection process is that it tends to vary, not only by region but based on the credentials of the inspector. Be aware that the home won’t always be checked for the following: asbestos, radon, methane, radiation and formaldehyde, wood-destroying organisms (like termites), mold, mildew and fungi, rodents, or lead. Many of the items on this list require specific licenses to identify and flag.

What to expect

By and large, home inspections WILL pay close attention to the following: structural elements (ceilings, walls floors, foundation etc), the home’s exterior (grading, wall coverings, landscaping etc), the roof and attic, plumbing, systems and components (AC, heat, ducts etc), the electrical, the garage and all appliances.
While the inspection won’t always provide you with the exact condition of each of these features, it will let you know which are defective and could potentially be hazardous to your health.