Post Government Tax Credits

At this time, there are buyers who didn't want to compete with those vying for the government programs called tax credits, who now want to buy. Interest rates at below 5%! This is a great motivator. My 1st mortgage interest rate was 18.275%. RUN don't walk to the property where you want to live-NOW! Who knows how long these interest rates will last. Speaking of interest rates, which brings me to mortgage loans; appraisers, the people who are hired by your lender to determine value, look at comparable sales in Parkfairfax during the last 3 months!!! Value 6 months ago is of no value to the lender. Therefore, when we show you the comparable property sales to help you determine your selling/buying price; this is where those numbers originate. A Parkfairfax resident asked me on Sunday where the price came from? The Multiple Listing Service lists those prices AND the amount of seller subsidy (seller can pay up to 3% of purchase price to help with buyer closing costs + is necessary in most transactions to help the buyer). This IS a buyers' market. ARE THE BUYERS READING THIS? Only Realtors can see this amount in the Multiple Listing Service of SOLD properties. This amount isn't listing on any government website. The seller subsidy lowers the "net to the seller". The only way for prices to escalate is for someone to pay cash above the prices of the comparables. Of course, if you have a new kitchen or bath. The appraised amount WILL change based on quality of the renovation. At that time, unless the BUYER wants an appraisal, there is none. That cash price becomes one of the new comparables and prices will go up. I hope this clears up pricing for sellers. And for buyers, THIS IS THE TIME to buy.



Has anyone eaten at Chez Andres lately on W. Glebe just before reaching route 1 in Alexandria? It's only about a 5 minute drive, or a 30 minute stroll. If not, try it! Several Parkfairfax owners and I ate there on a Sunday night 2 weeks ago. The prices are normal, the wait staff is experienced and friendly, and the food is fresh-for example, they had soft-shelled crab. Ask for Cathy Fudge as your wait person. Tell her The John and John Team from Parkfairfax referred you! And look for the coupons that come in the mail. Two residents used those for 1/2 price meals!



Also I want to recommend the Greeting Card store in the little mall across from Lindsay Cadillac. It's next to CVS. Lindsey is the owner and works on Sundays. Tell him The John and John Team from Parkfairfax sent you. He's very nice and a welcoming owner. And the selection of cards is vast! And in Old Town on King Street, check out Arts-A-Fire. Our friend Joe Egerton is the owner. You'll want many of the decorative items AND for women; there's tons of jewelry from low prices-to the max!



Sales of Parkfairfax condos continues to be strong. As of this writing there are only 15 homes for sale out of 1600+. Values are staying rather firm. Come visit us at Open Houses most any Sunday from 1-4pm and bring along a possible buyer you'd like to have live in Parkfairfax. We'd love to help introduce them to our wonderful 132 acre Condominium in a Park, 1 stop-light to DC, non-stop public transportation to the Pentagon. Thanks for your business!