Northern Virginia MarketWatch - January/February 2010
Buying Power
30-year fixed interest rates at the end of December averaged 5.14%, slightly more than rates at the end of December 2008 - but well below year-end rates for the previous five years.
A $1,000 principal and interest payment supported a loan of $183,348 at the end of December 2009, roughly $20,000 more than December 2005 - 2007.
That increased buying power, combined with the homebuyer's tax credit, has brought a lot of folks off the sidelines and into the game.
Referrals are the heart of my business. In this ever-changing market, experience counts. If you or someone you know are looking to buy or sell, please give me a call. I look forward to helping you with your next transaction.
Are you saying "Bah, humbug" to rising energy costs this season? Here are a few ways you can save energy and money!
Install a Setback Thermostat - To save about 20-30% on your cooling & heating bill per year you can install a setback thermostat to control the temperature in your home for any given time.
Repair a Run-on Toilet - A toilet that runs continuously wastes water and costs you money. It is usually caused by a malfunctioning float which is easy to fix and can save you hundreds of gallons of water a week.
Fill the Cracks in Your Home - Heat or cool air is always lost through cracks in your home even when you can't see the holes. Walk around the exterior of your home and look for gaps and openings that can be caulked.
Water Heater Temperatures - 120 degrees is an acceptable lower water temperature that should still provide ample heat for most homes.
Florescent Lighting - Yes compact florescent bulbs are more expensive to use but last longer than incandescent bulbs ... 9-13 times longer for a 60-85% savings.
Replace Filters - Furnace filters should be changed every month and air conditioner filters replaced during high use periods as well. Even the compression coils behind your refrigerator need to be brushed off with a soft bristled brush once in a while.
Shower Flow Restrictors - Replace your showerhead with a low-flow restrictor which reduces the flow of water spray while still giving you an adequate shower. Water heating is about 20% of the total energy waste in your home so lowering the hot water usage will save your money.
