Home Buying in Gainesville>Question Details

Super, Home Buyer in Gainesville, VA

I am interested at buying a home in Gainesville Virginia and like to know is it a good time to buy? I am depending between renting or buying since I

Asked by Super, Gainesville, VA Sun Aug 14, 2011

am in a bit short on time. Need a place the latest october! How can I get a good deal since I can purchase anytime and soon!

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Answers

9
If you are able to buy i.e…your credit is good. I would defiantly purchase over rent. My last buyer just locked in at 3.8% interest rate. That is a record low.
Due to the slow sales in the 4th quarter (Oct., Nov.,Dec.) prices drop and appraisers then use those comps (typically low prices) for pricing homes in the 1st quarter, therefore making the 1st quarter a great time to buy. Not to mention the tax break vs. renting.
I have lived here in Gainesville for 15+ years. I would love to help you find a house to make a home. Please feel free to call or e-mail me at any time!

~Your full time agent

Thank you for your trust,
Shelley Mastro
Mastro & Associates - RE/MAX Olympic
703-380-0017
smastro@remax.net
0 votes Thank Flag Link Tue Jan 24, 2012
Hi Super,
YES is the answer to your question. There is very little inventory in Gainesville that stays on the market if it's priced properly.. In some pricepoints it's less than a month. Interest rates are the lowest in 50 years and prices on low...but on the rise. Usually in real estate the prices are high with low interst rates. or low prices with high interest rates. Right now we have "the perfect storm".
Folks that wait will be in the " woulda, shoulda, coulda" category, don't let that be you.
I live here and work here, it helps to have an agent that knows ALL the neighborhoods.
I'd be happy to help.

Mary

Mary Albrecht
Weichert Realtors
The Gainesville Team
cell 703-447-8109
0 votes Thank Flag Link Mon Aug 22, 2011
As the first agent in the Gainesville area to answer, let me tell you that, depending on your price range, the demand for homes is outpacing the new inventory. What that means is that Gainesville is experiencing a Seller's Market. It's much more profound in the townhouse market right now below $300,000.

Knowing the market is criticial to success in it. Owning a home is definitely a great idea over renting any day of the week. If you were paying $1500/month in rent and were entertaining a mortgage payment of $1800/mo and had, for example, a 15% tax bracket, you could expect that 90% of the $1800/mo would be tax deductible. That would lead to $243 in savings that you could either increase you tax withholdings to get in your paychecks every month, or get a over a $19,000 tax refund if you don't . Howver, all of this is meant to show you that an $1800/mo morrtgage payment FEELS LIKE a $1557/mo rental payment for someone in a 15% tax bracket.

If you wold like to flesh out specific scenarios, let me know. I'm an Associate Broker with Long & Foster Realotrs in Gainesville, VA. If you don't already have an agent, I'd be happy to assist you in learning what's best for you.

Chris Ann
0 votes Thank Flag Link Mon Aug 15, 2011
Hi Super,

Whether you are interested in renting or buying, I can help you find a great deal. Interest rates are extremely low and there are many homes to choose from in the Gainesville area. Because it takes approximately 30 days to close on a regular sale, you shouldn't have a problem finding a home within your time frame. Let me know if you want to start looking today!

Janet Lange
571-722-4348
Avery-Hess, Realtors
0 votes Thank Flag Link Mon Aug 15, 2011
Dear Super:

I am glad that you came to trulia to find answers for your home buying / renting needs, since we (Realtors) strive to help anyone in need of an opinion or assistance.
Definitely it's a Super time to buy, interest rates went down just a few days ago and prices are still great. Gainesville is a beautiful community and have lots of choices. If you don't have an agent representing you, then the first step would be to get engage with one. Since, Realtor take care of their clients from the first question to the closing table and also even after the purchase of their home.
I am an expert in Prince William County and surroundings - if you have other questions related to your real estate needs or want to interview a buyer's agent, please feel free to give me a call - 703.389.7973
or email: falvi@pwrealty.com
October is about 7 weeks away, I would suggest that you get the work going ASAP, since loan and finding the perfect house takes 1-3 weeks and then most loans takes 4-5 weeks to close/ settle.
Renting would not be ideal since interest rates are low and you would pay less in mortgage than the rental itself.
Hope this information is helpful to you!!
Good Luck ~

Best Regards,
Faiza Alvi - Realtor®
Prince William Realty, Inc.
703-389-7973 (Direct)
703-580-9995 (Fax)
http://www.house2homeva.com
Web Reference: http://www.house2homeva.com
0 votes Thank Flag Link Sun Aug 14, 2011
There is alot available in Gainesville. That coupled with the very low rates this is a good time to buy. The first step would be to narrow your search. What are you looking for? What is your price range. I can set up an auto search on the MRIS and it will send you active listings as soon as they are entered. Also get your finances in order. If you are going to take out a loan, speak to a lender. They can explain what loans are available to you and provide you with an approval letter. Give me a call or send me an email and I can help you get under way. You can be closing on something in October or sooner.

Glenn Stromberg ABR
Long & Foster Realtors
Cell 703-987-8053
Office 703-986-5700
Fax 703-583-7655
Glenn.Stromberg@LNF.com
http://www.glennsmyagent.com
Licensed in the Common Wealth of Virginia
0 votes Thank Flag Link Sun Aug 14, 2011
...oops... Here's how you can reach me: 703-669-3142 VChrisner@KW.com
0 votes Thank Flag Link Sun Aug 14, 2011
You absolutely have time as long as you hire an agent who is trustworthy and whom you trust. Short sales sometimes take a while, and homes that are still under construction, but other types of sales typically are a short 30 days from contract to close. It's definitely a great time to buy! There are some great deals out there and last week rates hit a new low. Call me in the morning and let's talk. I'd love to help you with your home search!
0 votes Thank Flag Link Sun Aug 14, 2011
Awesome time to buy, but if you want to see how to save $25,000-$50,0000 on any house in Gainesville,VA use these strategies at http://www.insiderealestate.com
0 votes Thank Flag Link Sun Aug 14, 2011
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