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Home Prices In Arlington Continue To Hike
The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from. -
Inlet Cove is near Fort Belvoir and Potomac Mills
Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene -
Pending Home Sales on an Upswing
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1… -
A Good Time to Buy a High-End Home
Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move… -
Who is today’s homebuyer and why are they buying?
The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…
Is the ‘Great Senior Sell-Off’ Coming?
About 1.5 to 2 million homes belonging to seniors will come on the market by the end of this decade, predicts Arthur C. Nelson, professor of urban planning at the University of Utah. Nelson says he sees a momentum growing among baby boomers to put their homes up for sale and downsize.
“This is the decade of the shakeout, where the boomers will begin turning 65 and we'll begin to see how they influence the housing market,” Nelson told The Chicago Tribune. Nelson cites other research that shows when people hit their late 60s they tend to start selling off their homes at a much faster rate.
The baby boomer generation began reaching age 65 in 2011 and will continue until 2029.
“As they enter their late 60s, they'll begin to unload their homes in cumulatively higher rates,” Nelson says. “I'm calling it the Great Senior Sell-Off.”
But Nelson says he’s concerned there may not be enough buyers for the homes.
About 80 percent of seniors are home owners when they reach 65—the highest home ownership rate among any age group. But Nelson notes that about 4 percent of senior home owners move each year and about 60 percent of them then opt to move into rentals. As such, Nelson predicts a surge in construction of apartments for more affluent renters.
Source: “Get Ready for Great Senior Sell-Off,” The Chicago Tribune (March 29, 2013)