Homeowners in Northern VA got their first taste of achieving part of the American Dream when they purchase their first home. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. You will always love that first home, but as time moves on there comes a time that you ask yourself, have you outgrown your Northern VA Starter Home?
At the time of purchase it’s hard to imagine that the first home might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!
According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.
As you can see, as inventory has decreased and demand has increased, prices have been driven up.
This is great news if you own a starter home in Northern VA and are looking to move up to a larger home as the equity in your home has risen. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream! Here is an article I have written explaining the high demand in starter homes, and the low demand in premium and luxury Homes, Buyer’s Market Helps Premium Home Sales Soar
If you have outgrown your starter home, contact me and I can explain the market conditions in your area and help you find your next home!
Northern VA Luxury Listings
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Specializing in happy home sellers and home buyers, selling starter homes, trade up homes, premium homes, and luxury real estate in Northern VA. Selling homes since 2003 to first time home buyers, relocating clients, first time home sellers, luxury clientele, downsizing, and trade up clientele. Helping home sellers sell quickly and profit more with a carrier average days on market of 39 days. Call me for all your real estate needs in Alexandria, Arlington, Ashburn, Burke, Centreville, Chantilly, Dunn Loring, City of Fairfax, Falls Church, Great Falls, Herndon, McLean, Oakton, Reston, Sterling, Tysons Corner, Vienna, or anywhere in Northern VA.
Original article posted on my Call Joey Keeping Current Matters blog here.