Reported by Flo Nystrom, MA, BA, CRS, ABR, ePRO, RECS
Updated March 28, 2012.
Current Market Rating: 2
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Current Price Trend: 4
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Approaching April 2012 in the Northern Virginia Area, the market is seeing more short sales and loan modifications; foreclosures still exist.
Interest rates are at @4.1%, 30 Year Fixed . And, loans are available for purchasers with a 20% downpayment, employment documentation and moderate good credit recordation.
The liquidity is alive for the 90% of mortages that are backed by the Federal Government, i.e., FHA, Fannie and Freddie Mac.
Thus, home prices are affordable and mortgage money is available. Smart purchasers are coming forward at this time.
Foreclosures and Short Sales are entering the marketplace. This can have an effect on reduced values in certain areas.
The lending abuses and fraud of Wall Street led to the 700 Billion Dollar Bailout. Also, the "Bailout" known by the Government as TARP, i.e., "troubled asset relief program", will allow bad loans off the books of banks enabling them to make loans again.
Also, repayment terms of defaulted loans may be worked out. And, other stimulus programs are in the works.
ZIP Code: 20124 Approximate Location Boundaries: Town of Clifton, Surrounding Area outside of Town, & Little Rocky Run Subdivision
Location Characteristics: The town of Clifton, historically since the 1700's, has charming Victorian homes fenced with white picket fences. The Surrounding Area of the town consists of 5-acre parcels with estates on a rolling terrain. Some are equestrian properties with riding trails. Also, further from town, there is a planned community of single family detached, townhouse and condominium homes offering community amenities such as clubhouse and pool. There is a limited amount of raw land avaliable which goes with a high price tag for custom home to be built. Prices for homes, therefore, could range from $150,000 to over One Million Plus.
About Flo Nystrom:
Flo Nystrom has been a Realtor since 1979 working the Northern Virginia areas along with her partner/husband, Frank, i.e., Nystrom Group, LLC. Flo's education and experience is reflected in the following: MA, BA, CRS (Certified Residential Specialist), ABR (Accredited Buyer Representative), ePRO500 (NAR Internet Certification), RECS (Real Estate CyperSpace Specialist), RDCPro (REO Default Certified Professional), CDPE (Certified Distressed Property Expert), CIAS (Certified Investor Agent Specialist), Institute for Luxury Home Marketing Member, Long and Foster Gold Team, Member Past, NVAR Million Dollar Sales Club Member Past, Pioneer Member of NVAR, NVAR Commercial & International Forum Member. The Nystrom Group strives and succeeds in offering their sellers and buyers with the quality service needed to accomplish the sale of properties and the buying of properties. Visit www.FloNystrom.com to obtain much needed information on the Selling and Buying Processes. Telephone 703-934-8222 for assistance.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
