Jobs, jobs and more jobs in NoVA.

According to the Alexandria Times, Northern VA has added 38,300 jobs over the past year. This makes the total number of jobs in this area 1,264,500!
New jobs and low umemployment numbers make for a strong economy. Northern VA is holding its own in this department. Alexandria Times VOL 1, NO. 7 October 20-27, 2005 article on Alexandria VA job growth.

Recapture your Renovation Costs

What type of return on your home improvement projects can you expect to see upon resale of your home? What are the most valuable renovation to take on?
With a renovated kitchen you will regain almost a full return on your investment.
With a new deck you will more than likely regain an average of 86% of your initial investment.
Check out your return on other renovations on Remodeling Magazine's 2004 Cost vs. Value Report.

New Condos in Luxurious Cameron Station

Sought after Cameron Station is now selling new condos. It is the same great location near 395, Old Town Alexandria and only minutes from D.C. This community has an old fashion feel to it. The old colonial feel comes from the brickfront homes, landscaping and the old style light posts. The community is made up of single family homes, townhomes and condos. Email me today to learn how you can get in on this new construction. Take a minute to view the new
Cameron Station condos.

September NOVA Home Sales Report

SEPTEMBER HOME SALES
Single family homes: 1,692
Condos : 685

Average sales price: $543,170
Average sales price 2004: $440,150

NORTHERN VIRGINIA ASSOCIATION OF REALTORS®
Released October 13, 2005

They keep coming to the DC area

110,000 new jobs over the past two years.
Only 57,000 new homes in the past two years.
The housing demand is still here in the DC Metro Area!
Realtor Magazine, October 2005

Mortgage News

Mortgage rates now:
30yr fixed: 6.03%

Frank Nothaft, Freddie Mac vice president and chief economist, sees economic growth accelerating in 2006 which combined with higher energy costs will push rates higher in coming months. He noted, "Mortgage rates are projected to rise gradually over the next year, with the 30-year FRM expected to hover around six percent through 2005, and reach 6.4 percent by 2006. Still, although mortgage rates have been rising for the last several weeks, they still remain historically very affordable and home sales this year will most certainly be at record high levels."

Bobbi Dickerson, loan officer
Preferred Mortgage

Hot Market, Soft Landing

David Lereah, chief economist for NAR shared some of his thoughts in Realtor Magazine about our current market and what we can expect.

According to Lereah, there are only two things that can bring down a strong market.
1.) A rise of 2-3% in interest rates
2.) A large drop in jobs (about 4-6 %) accompanied by a significant recession.

Lereah states that neither of these situations are in our country's future. 207,000 new jobs created in July (largest gain since April).
Interest rates have risen only a fraction and are currently are sitting at 6%.
Home values will continue to rise although at a slower pace.

David Lereah, Chief Economist of National association of Realtors

For Rent Too!

Are you looking for a place to rent?
In addition to home sales, I also have properties that are available for rent at this time. Let me know what it is that you need. If I don't have exactly what you need we will search the Northern VA area and find you a match.