2014 Is A Good Year To Buy A Home

According to CBS News, home prices nationally in 2013 appreciated over 13%. This is a very good increase.  In 2014 it is expected that home prices will moderate to around 7% in the Northern Virginia area due to an expected increase in mortgage rates from the current 4.5% to around 5.0%  This is still a good increase in home values.

As CBS News pointed out; if you rent than at the end of 2014 you will have 12 cancelled checks for your monthly rent.  If on the other hand you owned your home than at the end of 2014, you would have 12 cancelled checks which go toward a home mortgage interest deduction and you also will see appreciation in your home value.  More details at CBS News http://www.cbsnews.com/news/why-2014-is-a-good-year-to-buy-a-home/