Positive Thinking for Homeowners and Homebuyers in Alexandria

Despite all of the negative news and “fiscal cliff” predictions invading the daily media, homeowners in Alexandria can find many positive factors to be optimistic about.

1.     Record Low Inventory.  We remain in a seller’s market in many zip codes of Alexandria.

2.     The Average DOM (Days on the Market) number is trending down .  The average time a property was on the market before going under contract was 45 days in September and 40 days in October 2012.

3.     The Ratio of List Price to Sold Price is going up.  In September 2012, the average home sold for 97 % of listing price.  In October 2012, the number went up to 97.2%.  Only a slight change, but also trending up.

 4.     The unemployment rate in Alexandria is lower than the National Average.  The unemployment rate in Alexandria in August 2012 was 4.7%.  This number went down to 4.4% in September 2012.

 5.     President Obama supports proposed legislation that would make it easier to refinance.  For more information on Government Refinance Assistance, CLICK HERE.

 6.     In 2013, the current tax-free exclusions for the gain on the sale of a primary residence remain in place.  The first $500,000 for joint filers or $250,000 for single filers, are exempt from capital gains taxes.

  7.     Interest Rates are at historic lows.  The 30-year fixed-rate average sank to a record-low 3.34 percent, beating its previous all-time low of 3.36 percent set on Oct. 4. It marks the eighth consecutive week that the 30-year fixed rate has been below 3.5 percent. Last week, it averaged 3.4 percent. A year ago at this time, it was 4 percent.

  8.     2013 will be a good year to buy or sell.  With interest rates remaining at record low levels and more and more borrowers qualifying through diverse lending programs, there has never been a better time to buy your first home, downsize, or “move-up” to a bigger house or a home in another location.

IT IS NEVER TO EARLY TO START PLANNING YOUR  NEXT MOVE.  CONTACT US TODAY FOR A COMPLIMENTARY CONSULTATION. 

Visit our page or Contact me today!