With the rising costs of rent expected to continue, new 3% down payment programs rolling out, and CNN Money even naming DC one of the 10 hottest markets for 2015, homebuyers have much to look forward to in the coming year. With my expertise in real estate, I would be happy to help you sell your current home in Mount Vernon, Alexandria, Arlington, Fairfax, McLean or find your dream home in the NoVa and DC area next year. There is much to take advantage of given the optimistic housing outlook.
Here are just a few of the main points both buyers and sellers can look forward to in the real estate market:
- Home value appreciation will cool down, from around 6 percent to 2.5 percent.
- Rents will continue to rise, to the tune of 3.5 percent annually through 2015, and as a result, homeownership will continue to be the better investment.
- Fannie Mae and Freddie Mac's new mortgage programs allowing for as little as 3% down on a home purchase.
- In terms of new household formation, DC will be among the top 5 metro areas and hold that place over the net 5 years, according to Realtor.com's Chief Economist.
- Home sales continuing to rise, thus strengthening the real estate market and boosting home seller confidence.
If buying new or selling your current home is on your to-do list for the next year, do not hesitate to contact me! With all of the positive factors coming up in the real estate market, 2015 is looking like an exciting year!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
Earle Whitmore
Long & Foster Real Estate, Inc.
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