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Washington, D.C. has the nation’s second-strongest economy out of 366 metro areas, based primarily on two decades’ worth of jobs and income data, according to a report released last week by economics research firm Policom Corp. Richmond was number 63. Virginia Beach was number 93. To compile its report, Florida-based Policom said it measured 23 different economic factors. Positive factors in the rankings include wages and income broken down in several ways, plus jobs in key sectors; negative factors include welfare and Medicaid spending. “The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” William Fruth, president of Policom, said in a statement. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation. While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm.” The company did not release details of data that went into each city’s ranking. Seattle was number one. Denver, Houston and Sacramento rounded out the top five. Washington has ranked number two the last two years and in the top three over the last seven years. Chip Warner, Associate Broker, RE/MAX Allegiance, 703.216.1420 FairfaxHomeStore.com
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Been wanting to find a home in northern Virginia near a metro stop? Well it just got a lot easier. All homes, single family, town homes and condos within 1 mile of any metro stop can now be easily located. Just go to http://www.fairfaxhomestore.com/Homes_Near_Metro/page_2380355.html to see them all. We are always ready to help you find the perfect home and at the best price. Chip Warner
Associate Broker
RE/MAX Allegiance
703-216-1420
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It sure paid off to know the process ahead of time. We were able to get to the front of the line by submitting all the paperwork HAP needed prior to them even asking for it. We stayed one step ahead of the game and were able to get a check cut for the seller's at closing. If you are upside down in your Northern Virginia home, and qualify for the "Enhanced HAP" program, I can guide you through the process too. When done correctly, everybody wins! Chip Warner Associate Broker RE/MAX Allegiance -Burke, VA 703-216-1420
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Home prices in the Washington area increased by the most in the country during the 12 months ending in March, the Washington Examiner reported. Prices for single-family homes increased 6.4 percent — the biggest increase out of 10 major metropolitan areas, according to CoreLogic, a real estate data company.
source: Washington Business Journal
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The expiration date of the $8,000 first-time home buyer has passed. However, congress recently extended this credit to qualified members of our uniformed military services. They have an extra year to cash in on the credit with a new deadline of April 30, 2011. The government defines "qualified service member" as a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community."
Chip Warner RE/MAX Allegiance chip.warner@rmxtalk.com
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It used to be that military families that moved to an area and then faced a housing loss due to a BRAC (base realignment and closure) could get some financial help to sell their home without incurring a loss. Now this program has been changed to include families that have PCS orders to a new duty station that is at least 50 miles away from their current residence. There are some stipulations to the program that must be present for a case to qualify for assistance. If you are in this situation, or know someone who is, give me a call so we can check into the possibility of helping our military friends get to their new duty station without the financial burden of selling a home at a loss.
Chip Warner Former Marine RE/MAX Allegiance Northern Virginia Office 703-216-1420
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The Warner Group of RE/MAX Allegiance is very pleased to offer their buyer clients with ListingBook & VoicePad access to MLS listings. ListingBook is a powerful tool that not only enables buyers to conduct their own real time searches, but comes packed with local area & demographic information as well. VoicePad is a great tool for buyers to use when they are out and about and happen to come across a property of interest. They can simply call into our system and find out everything about the home from the convenience of the cell phone. When you choose to work with the Warner Group, you are a part of our team's effort to get you where you want to be! Contact us for more details anytime! www.thewarnergrouponline.com Chip Warner
RE/Max Allegiance
703-216-1420
Chip.Warner@RMXtalk.com
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Recent economic recovery legislation has created a tax credit incentive for first time homebuyers in Virginia. The Virginia Housing Development Authority’s Homebuyer Tax Credit Plus Loan lets borrowers take advantage of the federal First-time Homebuyer Tax Credit to finance down payment and closing costs up to 5% of the sales price, using a second mortgage. The second mortgage helps cover the down payment and closing costs, with zero interest and no payments for the first 12 months. This is designed to help well qualified buyers that just don’t have the down payment take advantage of the current market conditions and low interest rates. They will be able to pay off the second mortgage with the tax credit they receive in 2011 without penalty. Way to go Virginia!
Chip Warner RE/MAX Allegiance 703-216-1420
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Danbury Forest, North Springfield - We received a contract within one week of putting this fine home on the market and didn't even have a chance to do an open house. If you are interested in becoming a Danbury Forest home owner, contact us now. We will be putting more homes on the market and you will want the inside track we can provide you. www.TheWarnerGrouponline.com is Danbury Forests premier real estate resource. Property information Chip Warner
RE/Max Allegiance
703.503.4378
chip.warner@RMXtalk.com
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I have been checking into the financial
assistance programs that are out there for military families who find themselves having to move and are "caught" in a down market. The US
Department of Defense Housing Assistance Program may be an option. This program used to be only available
to service men and women who were being moved due to a base realignment. The
expanded program covers families that have PCS Orders to relocate during the
current mortgage crisis. To qualify you had to buy a primary residence prior to
July 6th 2006. It had to be priced below $729,750 and the market has to be at
least 10% down from when you purchased. With this program, I may be able to help you sell your home at current market value while preventing a major financial loss to you. If you are in this situation, contact me for more information about this program and how we can work together to get things started. Chip Warner RE/Max Allegiance Burke, VA 703-216-1420
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We have reduced the price on this wonderful custom built, brick front single family home in Haymarket Virginia. It is now listed for $409,999 and offers hardwood floors throughout, an oversized sideloaded two car garage, a warm family room with a large fireplace to enjoy in the winter months, a master bedroom with a fireplace, large walk-in closet and private bath. Much much more awaits you. Call 703-503-4378 for more details or to schedule an appointmet to see it in person.
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Congress is in session and it is looking like they are going to extend the stimulus package that is before them. If it passes as expected, it will expand the $8,000 tax credit to April of 2010 for all first time home buyers. The new twist on the program, is that up to $6,500 will be available to anyone who buys a home. (there are some income limits that apply) So, if you know someone thinking about making a move up, down or sideways, there won’t be a better time than now. Plus interest rates continue to be at about 5% for 30 year fixed rate mortgages.
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At our annual convention yesterday it was announced that RE/MAX Allegiance has raised nearly $100,000 locally for the Children's Miracle Network through our agent honor card program. This program is optional for our agents. A monetary gift is made to the Children's Miracle Network whenever a participating agent settles a real estate transaction. That donation is made in the name of the client who bought or sold the property. Overall, RE/MAX International has generated over $1 million for the cause this year alone. It is a wonderful program and I am proud to be a part of it and the RE/MAX family.
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If you have not owned a home in the past two years, you qualify for the Federal Government's $8000 tax credit if you purchase and settle before 30 November 2009. Time is running out but it is not too late.
There is talk that they may extend the program, but it is unknown at this point whether or not they will. I have a team in place to take you through the whole process in a streamlined manor to help you take advantage of the incentive. Contact me at FairfaxHomeStore.com today to get started!
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The Northern Virginia Association of Realtors® reports on July 2009 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton. A total of 2,053 homes sold in July 2009, a 10.55 percent increase above July 2008 home sales of 1,857.
Active listings decreased by 25.62 percent from last year, with 7,439 active listings in July, compared with 10,002 homes available in July 2008. The average days on market (DOM) for homes in July 2009 decreased by 31.87 percent to 62 days, compared with 91 days in July 2008.
Sales prices continue to remain lower than those realized last year. The average sales price in July fell by 5.03 percent from July 2008, to $460,807, compared with last July's average of $485,225.
However, the median price of homes sold in Northern Virginia rose in July to $410,000, which is an increase of 2.76 percent compared with July 2008's median price of $399,000.
The number of pending home sales in Northern Virginia in July shows an increase of 10.21 percent at 2,266 compared to 2,056 in July 2008.
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