Interest rates are in the 4.5% - 5% range on fixed rate 15-year and 30-year mortgages. Financing is available with little or no money down. Inventory is high with builders and sellers are willing to negotiate. Is it a good time to buy? I think so!

Worried about appreciation? You should not be as long as you’re looking at your home purchase as a long term investment (not to mention the warm shelter it brings from the elements and tax breaks too). Appreciation in Virginia, Maryland and the District of Columbia has consistently out-gained the national average. Time to get off the fence!

House Price Appreciation by State

Five Year Appreciation
Virginia: 50%
Maryland: 57%
DC: 64%
US: 29%

Since 1980
Virginia: 353%
Maryland: 403%
DC: 522%
US: 269%

Percent Change in House Prices Period Ended September 30, 2008
source: Federal Financing Finance Agency