How Long Do Most Families Stay in Their Home?

The National Association of Realtors keeps historical data on many aspects of homeownership.  These numbers are released in the annual Profile of Home Buyer and Sellers.  (Your REALTOR should us this tool)  One of the data points that has changed dramatically is  how long families stay in their home prior to moving. As the graph below shows, […]

Housing Inventory Hits 30-Year Low

Traditionally spring the busiest season for real estate in Northern VA. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their […]

Most Homes in Northern VA Have Positive Equity

The residential real estate market continues to improve with ninety-one thousand residential properties regained equity in Q1 2017.  Most homes in Northern VA have positive equity with a total 93% in Virginia and 96% in DC also boasting positive territory.  This was reported in CoreLogic’s latest Equity Report .  The outlook for 2017 remains positive with an additional 600 […]

Northern VA Homeowner’s Net Worth Greater Than a Renter’s

The Federal Reserve conducts their Survey of Consumer Finances every 3 years in which they collect data across all economic and social groups. The 2010-2013 survey reports that a homeowner’s net worth is 36 times greater than that of a renter.  The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association […]

The Rental Trap!

There are many benefits to homeownership in Northern VA. One of the top benefits is being able to protect yourself from the rental trap of rising rents!  Northern VA residents can lock in housing cost for the life of your mortgage by buying a home. Don’t Become Trapped  A recent article by ConsumerAffairs addressed the continuous rise in rents, […]