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,
Mastro & Associates - RE/MAX Olympic
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.
The Gainesville Team
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.
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!
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: email@example.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 ~
Faiza Alvi - RealtorÂ®
Prince William Realty, Inc.
Glenn Stromberg ABR
Long & Foster Realtors
Licensed in the Common Wealth of Virginia