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Home Values Are Heating Up in Virginia


Added 10-18-19 09:04:03am EST - “At a time of low mortgage rates, see if homes in the Old Dominion State are a good deal.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Home Values Are Heating Up in Virginia”. Below is an excerpt from the article.

Thanks to low mortgage rates, it's an excellent time to buy or sell a home across the U.S. But what about in Virginia?

Is the state's housing market too pricey for buyers? Not-so-great if you've got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in Virginia is heating up, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $262,300, Zillow says.

Could you afford that? Let's say you want to buy that mid-priced home using a 30-year fixed-rate mortgage at this week's average interest rate, which is a low 3.57%, says mortgage company Freddie Mac.

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