Ok….I have to admit it….I’m surprised by this month’s numbers.  Since April of this year we have been sitting very close to a 5-month supply of homes on the market.  I our current economic context I have been very excited by the 5-month number.  It means that 20% of the people who are trying to [...]

The City of Fairfax continues to lag the Northern Virginia market as a whole in October.  Last month 15% of the homes on the market sold in Fairfax City.  This is slightly lower, but in the same ballpark as the numbers from a year earlier.  I added a column to the statistics spreadsheet which I’ll [...]

A good relationship with a loan officer is vital for someone wanting to make solid decisions on the purchase of a home. As a Realtor advises you on the physical, transactional, a lifestyle aspects of your purchase, a loan officer advises you on the financial. A good loan officer will ask you a lot of [...]

In today’s Washington Post Kenneth Harney wrote:
Loan terms and credit underwriting standards have been toughened up, but you can still put down 3 percent (3.5 percent after Jan. 1) on an FHA-insured mortgage and 5 percent on certain Fannie Mae and Freddie Mac loan programs with private mortgage insurance. The FHA’s credit standards are generous [...]

As I write this the whole world is going through an economic crisis.  Congress just passed a bill to “bail-out” Wall Street.  Stock markets all over the world have tumbled, and some have closed their markets to avoid further losses.  The main issue in the presidential debate has become the economy.  Voters want to know [...]