What will the Real Estate market look like in the future?

Wow, talk about intriguing. After reading this article (click here) on the Virginia Housing Development Authority, it really makes me think about what the next "big thing" in real estate will be. With the shift in housing demand demographics from Baby Boomers, then their kids needing larger homes to raise their families to Generation Y (aka Millennials, those born to the baby boomers) demand for smaller, starter style homes should increase. VHDA has published a fair bit of information for first time buyers on their web site (vhda.com), so if you're a first time buyer, check it out!

Should I pay POINTS to buy down my monthly mortgage rate?

I had a conversation with a friend of mine the other day, discussing whether or not it's worth paying points to buy down the monthly cost of his mortgage. Of course this questions has long-ranging implications as it will directly impact the amount you'll pay each month. The bottom line is whether or not the amount of "points" you pay will give you a return on your investment that makes sense for you. I found a great web site (CLICK HERE) which asks you a few questions to compare two mortgage choices. After entering your info, the next screen shows you how long it will take to make it worth your while to pay points. A few key items, 1 point = 1% of your loan amount. When considering points, you're paying that amount up front at the time of refinancing or setting up the new mortgage. The more points you pay, the longer (years / months) it will take to make it worth your while. If you'd like more information on whether you should pay points or not, check with your local mortgage broker or agent. If you'd like my assistance in buying that house you've been looking at, give me a call or email me - I'd be glad to help you.

Where should I invest now?

The economy is in a recession, retailers are struggling to make ends meet with some as big as Circuit City going out of  business, and large manufacturers are closing their doors, laying off workers, and seeking assistance from the federal government.  What is an individual investor to do in light of such challenging times?  After reading magazine after magazine and web site after web site, I don't have a comfort level yet that the stock market has stabilized and is ready for me to jump into.  Although I may not be buying stocks, I have been able to make the numbers work in real estate investment properties locally. As such, I have found some great buys in the Arlington area and will be closing on a $100,000 studio in the Carlton this week.  If you're trying to decide what to do with money you would like to invest, interest rates and the wide variety of homes with motivated sellers tells me now is the time to invest in real estate.  Few other times will Arlington be so inexpensive, as well as other highly sought after areas this close to DC.  If you're interested in hearing how I can help you, call or email me today.