Real Estate Market

Market Trends

New Partnerships!

I would like to make you aware that I have recently partnered up with two wonderful organizations. 

1. The Wounded Warrior Project

2. Homes for our Troops

A large portion of the money I make in each real estate transaction will go to one of these two organizations. As a Vet myself, I really appreciate what they do for our military when they come back home wounded. If you would be so kind as to let everyone you know that is thinking about real estate (anywhere in the US), to talk to me first then we can help generate a lot of money for these organizations. Even if you know someone that wants to buy a house in FL or CA, I can refer them to an agent there and make sure they are taken care of as well as generate money to send to help these organizations. 

Also, please "like" us on Facebook to follow what's going on in the market both locally and nationally.

Click here > Real Estate Ranger on Facebook

 

National Market Report

 

The National Association of REALTORS (NAR) reported a June increase in existing-home prices across the country. Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops, are up 4.5 percent from June 2011, and are on pace to reach 4.37 million units sold for 2012.

Existing Home Sales By Region

Lawrence Yun, NAR chief economist, relates the increased prices to the decrease in available inventory. "Despite the frictions related to obtaining mortgages, buyer interest remains solid. But inventory continues to shrink and that is limiting buying opportunities. This, in turn, is pushing up home prices in many markets," he said. "The price improvement also results from fewer distressed homes in the sales mix."

Mortgage giant Freddie Mac is reporting record low mortgage rates available in June. According to the agency, the national commitment rate for a 30-year fixed rate conventional mortgage fell to a record low 3.68 percent, down from 4.51 percent available in June 2011.

Finance Q & A

 

Q: What's the best way to raise a credit score when applying for a mortgage?

A: Your credit score is a composite snapshot of your credit history, and is not likely to raise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers. Contact us today for our list of preferred local lenders, and learn which programs might be right for you

Contact Information

Photo of Jamie S. Brooks  Real Estate
Jamie S. Brooks
United Real Estate
10780 Parkridge Blvd.
Reston VA 20191
Office: 703-665-3544
Cell: 703-901-3101
Fax: 703-430-1821