Three common question I’m hearing in 2019 are:
- When should we lock-in our rate?
- I’m commuting to _______, how’s the commute?
- What do you know about the school?
- Is there shopping nearby?
Locking-in a mortgage rate
Mortgage rates dropped unexpectedly in early 2019 providing a unique opportunity for anyone who is house hunting to lock-in a long-term mortgage rate. This is really cheap money and it can really help you financially since it is a fixed expense (although taxes may go up).
You will “lock-in” your rate after you have a contract on a home.
Mortgage rates typically vary depending on your credit, but also based on the time-frame from contract to closing. Lenders want to reduce risk, so you will get a better rate if you are closer to the scheduled Settlement date.
Although that sounds simple, two problems we have in the Vienna real estate market is a lack of inventory and the cost of housing. To live here you may have to compromise since the location and overall community is so desirable.
Unless you are a risk taker, lock in your rate today.
Commuting, commuting, commuting
No one really wants to spend time in traffic, missing appointments or being late to a game.
Now, with Interstate 66 getting an overhaul, the bottlenecks are getting worse as Waze addicted drivers discover neighborhood cut throughs (which used to be my secret) and cause back ups on streets with four-way stop signs. Traffic here isn’t a new concern, it’s the drivers who are the problem.
Include a commuting element in your plan, your home buying wish list.
Absolutely understand your future commute before submitting an offer.
The school ranking isn’t an 8+
Fairfax County Public Schools are getting a little backlash from the rating systems that real estate websites assign to a school. In fact, a poor rating can impact real estate values for years.
So people are asking and asking where my own kids went to school… maybe hoping for a testimonial.
The FCPS system remains strong although class sizes remain at capacity in nearly every school I know. Langley High School is the only one with room to grow and we may see a little redistricting in McLean in the future.
Although I do share information with clients like where the French immersion program is, or IB Programs and AP High School Programs. It is food for thought and can impact your home search criteria.
Good teachers retire, schools get renovated, school rankings change.
Lifestyle: Trader Joe’s or Caffe Amouri
Shopping has always been a concern because it can impact daily quality of life.
Maybe grocery shopping is critical, or having a coffee shop that isn’t another Starbucks?
Some want a CrossFit place like The Mill on Mill Street in Vienna. Or easy access to the W&OD Trail for an after-work workout.
Each of these can be the basis for the community you want to be a part of, that defines your lifestyle getting you excited about life. Getting jump start on that lifestyle is part of my work when finding you a home.
I get that.
Let me know if you have a question about living in Vienna… I’ll answer it.