Great home purchased using 100% financing USDA guaranteed RD loan!
Nationally and in Central Virginia 1st Time Home-buyers and Investors are competing for the same homes (medium priced & fixer upper homes). Check out the HOUSINGWIRE article on the national trend. Mortgages like FHA, USDA-RD, and VA require low to no down payment while providing 30 year fixed historically low interest rates with low purchaser closing costs (with some closing costs possibly paid by the seller) making for a great tools for 1st Time Homes-buyers. When you couple the low interest rate with home prices adjusting down during our real estate market correction, many 1st Time Home-buyers purchase with little cash out of their pocket and a fixed rate 30 year mortgage with monthly payments less than current rent (their housing cost goes down). As always, the borrower needs to be financially able to make the loan payments.
With the number of renters increasing (1st Time Home-buyers delaying buying plus Foreclosures and Shorts Sales adding to those seeking rental housing), I’m seeing more investors looking move in to the residential rental market or increase their number of rentals. Many my clients have purchased with cash this year (moving the cash from an area with low or no interest to residential rental housing).
With both 1st Time Home-buyers and investors remaining active in the market, now may be a good time to put your Central Virginia home on the market instead of waiting for spring. As always, the decision to buy or sell remains an individual one, so let’s talk discussing your needs, desires and options. I am here to help!
Share on Facebook
About James Friend Dickerson
Real Estate Consultant
As a native of Central Virginia and a full time REALTOR since 1991, James listens to your needs to provide information allowing you to make informed choices. In our constantly changing world, you need a REALTOR who puts you first providing rigidly flexible service. James Dickerson provides a high level of service designed to fit each individual clients needs. Having received many awards from both the local Association of REALTORS and RE/MAX International, James is recognized as an authority on the local real estate market. The highest form of recognition James receives continues to be the many repeat clients who seek out his services time after time plus sending their relatives, friends, co-workers and neighbors to James for their real estate needs. Contact James today for an interview to discuss your real estate needs. James is a licensed real estate sales person in the Commonwealth of Virginia with Charlottesville Solutions.
Personal
As a Central Virginia native (Born in Charlottesville and raised in Albemarle and Louisa Counties), James' youth was filled with extra-curricular activities and organizations centered around school, church and the Boy Scouts of America. A graduate of Virginia Tech with a degree in Forestry and Wildlife Management, James' non-real estate activities include spending time with family & friends, traveling, stalking deer & spring gobblers, fly fishing, church and Masonic activities. James and his lovely bride Karen live between Zion Crossroads and Gordonsville in the Green Springs area of Louisa County. Since 2022 Jim has served on the Louisa County Planning Commission. Their dog Sammy passed away so now they dog sit for friends and family.
