On average, 30 year fixed mortgage interest rates are currently 4.34 percent. However, in Virginia, a 30 year fixed mortgage rate can be as low as 3.5 percent, and the typical price for Virginia homes is between $100,000 and $900,000 dollars depending on location. So too in Virginia have short sales and foreclosures been on a steady declined since August of 2012. The normal period of time that a home in Northern Virginia remains on the market is just 44 days. All of these statistics point to the recovering housing market in Virginia, making it an excellent place for home sales.
The U.S. government has promoted the benefits of buying a new house for quite some time. Buying a new house is not only a driver of personal wealth, it adds to the economic growth of the community, as well as sociological well being. Communities where the majority of residents are home owners have a higher degree of civic participation and greater voter turnouts. Also, buying a new house is correlated with positive outcomes such as fewer teen pregnancies, lower levels of crime, higher rates of high school graduation, and getter overall health and longevity. There are so many benefits of buying a new home.
The US housing market, which has been a buyers market for several years, is fast rebounding from its former bottom. Within a year, it will be a sellers market. Therefore, if you are considering buying a new house, there is no better time than now. It is worth taking the leap and buying a house as soon as possible before you are priced out of the market.
When you are looking into buying a new house, there are so many things to consider. That is why researching tips for buying a new home can be so beneficial. One of the most important tips for buying a new house is to narrow down your major priorities regarding what you want in terms of amenities, locale, style, and commute times. Coming up with this list of priorities when you are buying a new house is an example of how realtors help prospective buyers decide what houses to see in person.
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