January Real Estate statistics have just come in from Prince William County. In Prince William County home prices were up 22% compared to a year ago. It really is a great time to sell your home. We have a surplus of buyers still trying to take advantage of the tax credit. Remember that for a buyer to take advantage of this credit, they must have a ratified contract on a home by April 30th of this year.
Changes in FHA:
Effective April 4, 2010 the maximum seller concession will be 3%. This is only for FHA loans. Upfront mortgage insurance premiums will be increased to 2.25% from 1.75%. Please let me know if you have any question about these changes.