1) a Buyer's Agent familiar with new construction/builder contracts know the way builders and their contracts work and can properly represent you and look out for your best interests.
2) the commission for a Buyer's Agent is already built into the price of new construction homes so utilize a Buyer's Agent since you're already paying for one (and no, you can't get the commission back as a credit if you don't have a Buyer's Agent - most builder sales reps make a bonus on the sale if there is no Agent/Broker involved rather than giving you back the money)
I would be happy to chat with you more about any builder, their communities, lots, etc., in Ashburn and/or the Eastern Loudoun County area.
No, my Crystal Ball is silent.....
The best person to answer your question would probably be Ben Bernanke, although at this point, even he might NOT know the answer yet, or want to commit himself to it.
Check with lenders and see which of them would be willing to extend the lock-in date.
And if you decide to accept financing from the builder, do be cautious, because it often results in higher sale price and/or higher cost of the mortgage - due diligence.
It is best to use a buyer's agent on the new home purchase - so you will have someone to review your contract, advise on inspections, etc.
Best of luck.
I feel this can only be a prediction but very hard to know for sure for anyone on the block. Its easier to say, they may not be lower than now but who knows!
So either wait and see or buy a longer lock if the bank is offering.
Seems like you don't have someone really on your side, like a full time Realtor. No matter what they say, reps at builder's are working to protect builder not you. Theres lot to be discussed while buying new.
But here's another 1 cent ---- Because of several credits being offered till April 2010 it may be possible that interest rate revolve around 5+ to keep the momentum of real estate going so I say call few lenders and buy the longest lock the bank is offering as you see the best rate that works for you.
Here are few numbers for Lenders to get personal advise in case you are considering one--
Tony with credit union 703 472 1012
Cindy with Mclean Mortgage - 703 409 2002
Hope that helps:)
703 626 3327