Mortgage interest rates on 30 year fixed rate loans are at around 4.5% as we move toward the beginning of Spring. If you have fair to good credit, steady employment and income, and a desire to stop handing over rent to your landlord, now is the time to buy a home or condo!
“DC inventory in the first time buyer sector can feel a little bit limiting to inexperienced buyers,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Remember, you’re looking to get into a home as a pit stop on the way to the buying the future home you really want. The home you buy now is the one you’re only going to spend 2 – 5 years in.”
Our Spring preview for NE DC includes homes that have been on the market for more than 30 days. “After 30 days, the sellers of the properties are usually starting to experience anxiety, and many are already talking to their agents about ‘what to do’,” continued Gerard. “It’s the right time for your buyer agent to push for incentives like credit from the seller towards your closing costs. Homes that have been on the market more than a minute are always your best option.”
Want to pick up some fast, free home buyer education? We have free group Home Buyer Workshops twice a week, every week. Here’s the schedule:
Here’s the roll call of Northeast homes over 30 days old. The list changes daily. Call/text 202.759.4114 for help!