House prices will be cheaper next year. You don't need a crystal ball. When inventory is at record levels, prices go down. As the financial markets crash, so does the housing market. Without a downpayment, it may be difficult to get a loan. The bubble is just starting to deflate in this area. Save your money for a good downpayment, and in a few years start looking.

Ashley,

Housing prices may or *may not* be cheaper in a year from now, and I’m curious to know what crystal ball “nonrealtor” used to back his statement.

Based on our local Multiple Listing Service, and looking at the sales prices of homes in south Chesapeake, and downtown & uptown Norfolk, prices have held steady in our area over the past 12 months.

The big difference between then and now is that sellers are a lot more willing to provide closing cost and down payment assistance to buyers. In addition, there are many more bank-owned and corporate-owned properties for sale which can be priced 10% ~ 30% below market values.

Over the past 12 months, I’ve been able to get all of my buyer’s closing costs paid for and many of my clients actually received several hundred dollars back after closing!

I am an Accredited Buyer Specialist with the ABR designation, and 99% of my clients are buyers. If you’d like to discuss your needs more in detail, please feel free to contact any time.

Frank Biganski, Realtor ABR
(757) 303-0517
EZ-Vest Realty, Inc.

Wait a few years. Housing will be cheaper.

Hi Ashley, Congrats on paying off your debt; nothing feels quite as good as being debt free. There are several products that can get you into a home with little or no money down. Not all lenders are created equal and your agent should be able to point you in the right direction. There is a local lender that has a great program for those interested in purchasing a home in and around the Smithfield/Isle of Wight area. I have also worked with a credit union that has a product that looks and acts like a VA loan but is really a conventional loan. There are also several first time buyer programs available to buyers in Viriginia with great rates and minimal closing costs. As far as knowing a great buyers agent.............. Give me a call, we can meet and interview each other to see if we are on the same page. Take a look/see at my profile.

Hi Ashley,

First off congrats on paying off your debt it what many people strive to do and it takes them a life time. If you have your VA eligibility you can borrow 100% of the purchase price and ask the sellers for help with closing costs. So that way the amount that you have to contribute to the transaction is very very minimal. I am able to do loans in VA if you should need assistance. Should you have any questions or need further help please feel free to contact me.Thank you and good luck

Andres Munar
Mortgage Specialist
800-839-6186x334 Office
814-308-3276 Cell

Hi Ashley!
First is to find out a local mortgage lender who will do a loan pre-qualification or pre-approval for both of you. I had worked with different well-established local lenders in the greater Hampton Roads Virginia and I will be glad to refer you to them. You can reach me at Danyouragent@gmail.com

Talk with a mortgage brokers it all depends on your credit scores smart to pay off the debit your interest rate based on the scores could be lower great savings for you.
http://www.lynn911.com
http://www.homes-for-sale-dallas.com

Ashley, first congrat's! Being retired military myself, I can tell you that the VA will significantly reduce your downpayment as they guarantee the loan for 100% value where most conventional loans are 80% LTMV. A link below is to the VA Home Loan website

In regards to an agent, I can certainly assist you with that as well. Feel free to email me.

Hi Ashley
Since you just finished your car debt and other debts , I would advise you to talk to a loan officer, you can apply for a VA Loan or thers different kinds of first time home buyer programs. And once you get qualified I can help you with a realestae agent to make sure you are taken care of
I am licensed in Virgina , Northern Virgina
Take Care
Dorothy