Warning Signs

• Dryer is still producing heat but taking longer and longer to dry clothes.
• Clothes are hotter than usual at the end of the cycle or smell burnt.
• Outdoor flapper on vent hood doesn't fully open when the dryer is on.
• Condensation is found on the dryer's interior.

Additional Benefits to Dryer Vent Cleaning

• Allows dryer to operate more efficiently and saves you money.
• Protects dryer from excess wear and premature death.
• Helps clothes dry faster-a time saver for busy families.
• Reduces excess household dust and humidity.
• Helps preserve clothing, as many fabrics are damaged by excessive heat.

Dryer Vent Cleaning

Service providers should thoroughly inspect your dryer vent line from the dryer to the termination point outside your home.  A brush and vacuum system is the most effective method of cleaning vents, and providers should have a tool long enough to clean the entire vent.  Plastic, vinyl or foil vent material could be damaged by cleaning tools, allowing moisture to flow into walls or living spaces.  This can result in mold growth and respiratory illness.  This material should be replaced with code-compliant vent material.

By following these simple guidelines, you can significantly reduce the risk of having a dryer fire or moisture damage in your home.  And always remember - never run the clothes dryer while you are out of the house or sleeping, and it really is important to clean your lint trap every time you dry a load of clothes.  Read more at http://dryerventcleaningsterlingva.blogspot.com/

19 E. Loudoun St

Round Hill, VA  20141

Phone:  866-498-7233

Email:  jbittner@dryerventwizard.com

Website: http://www.dryerventwizard.com

2009 has certainly been a turbulent time in the world of home mortgages.  With new increased regulation and aggressive moves by the Fed to help stabilize the economy, we have seen a marketplace that most of us have never experienced in our lifetime.  Earlier in the year interest rates hit a near 60 year low, with the conforming 30yr fixed rate bottoming out around 4.5%.  As the 60-year low cannot last forever, we have seen rates creep back up, with the average conforming 30yr fixed rate sitting right around 5.5%.  Since 1992, the average 30yr fixed conventional rate is roughly 6.91%.  Just one year ago, the 30yr fixed conventional rate was sitting around 6.5%. 

While it is easy to feel as if you missed a great opportunity if you did not lock in with the rates at a 60 year low, do not be discouraged.  Rates are still historically low, and there is still plenty of opportunity to lock in a low interest rate.  Please feel free to contact Carter Scott, (703) 725-9041 mobile, or Thad Wise, (703) 350-1733 mobile with Bank of America any time with questions as they are always available to assist!

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Below is data written by the Northern Virginia Association of Realtors® reporting the June 2009 housing statistics, second quarter numbers, and a few news summaries discussing the current state of the market.  In Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton, a total of 2,169 homes sold in June 2009, a 14.16 percent increase above June 2008 home sales of 1,900.  Active listings decreased by 27 percent from last year, with 7,617 active listings in June, compared with 10,440 homes available in June 2008.  The average days on market (DOM) for homes in June 2009 decreased by 14.46 percent to 71 days, compared with 83 days in June 2008.  While the number of sales have increased, sales prices continue to remain lower than those realized last year.  The average sales price in June fell by 7.42 percent from June 2008, to $451,354, compared with last June's average of $487,549.  The median price of homes sold in Northern Virginia in June was $392,367, which is a decline of 5.68 percent compared with June 2008's median price of $416,000.

Sales activity in Greater Northern Virginia (NVAR jurisdictions plus Prince William, Loudoun and the Greater Piedmont counties) for June 2009 shows a very slight increase from June 2008.  The number of Greater Northern Virginia region homes sold in June was 3,657, a 2 percent increase from June 2008's total of 3,586 sales.  Along with the increase in home sales for June, there was also an increase in the number of pending home sales, from June 2008's 4,054 to 4,465 pending sales in June 2009, a 10.14 percent climb.  The average sales price of $382,980 in June 2009 continues to lag behind the 2008 average by only 6.91 percent. The June 2008 average sales price was $411,388.  Across Greater Northern Virginia, the number of listings showed a decrease from 2008 numbers, with 14,730 listings active, which is 34.54 percent less than this time last year, when 22,501 homes were available.  The average DOM for a home sold in June 2009 was 75 compared with last year's 99 DOM, a decrease of 23.88 percent. 

Continued Affordability Contributes to Gradual Market Stabilization throughout Greater Northern Virginia
Now that 2nd quarter housing data is complete throughout Northern Virginia, the numbers are pointing toward improvement in the housing sector on several levels.  To start, the average days on the market dropped for three consecutive months when compared to the same months' DOM in 2008.  The number of pending home sales, those contracts currently in the pipeline, increased in each of the three 2nd quarter months.  This uptick may be attributable to the $8,000 first-time home buyer tax credit, which recently has been monetized at the closing table for FHA mortgage products.  While the year-to-date average price drop is 14 percent in Northern Virginia, the average 2nd quarter sales prices did post modest signs of improvement... April = $405,514, May = $433, 257 and June = $451,354.  Hesitant buyers are choosing to take advantage of the historically low interest rates and the 2009 tax incentives, since such favorable buying conditions exist now and are not guaranteed in the future.

In addition to the regional factors at play that impact the local market, other indicators show signs that the market has bottomed out. Incremental improvements are documented in the following national news summaries...

Lower Prices Stimulate Buying - Adapted from Bloomberg.com, June 23, 2009
Reports of home prices continue to remain lower than those of one year ago, but sales are increasing. Bloomberg.com reports, "Sales prices of existing homes dropped 17 percent in May from a year before, spurring a second straight gain in purchases and helping reduce the nation's glut of unsold properties." 
Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts said, "Improved affordability because of low prices and lower interest rates stirred some sales.  As long as rates don't rise substantially further from here, we could still stabilize in the housing market."  The June 23 Bloomberg report cited a May sales pace that was the strongest since October, and a gain that marked the first back-to-back increase since 2005.
 
The share of homes sold as foreclosures or otherwise distressed properties was about 33 percent last month, down from the 40 percent to 50 percent seen earlier in the year, according to NAR.  First-time buyers accounted for approximately 29 percent of May sales, which was less than recent months, possibly due to an increase in family buyers at this time of year. 

Pending Home Sales Record Fourth Straight Monthly Gain - Adapted from realtor.org, July 1, 2009
Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®.  Lawrence Yun, NAR Chief Economist, "Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy."

The first-time buyer tax credit is also benefiting the market. "Strong activity by entry level buyers is helping to absorb inventory and allow some existing owners to make a trade," Yun said.  Existing-home sales should trend up through the end of the year, with normal local market differences. Yun said, "We are currently conducting a study to assess the degree to which new appraisal rules are impacting home sales."

Economists Oppose More Stimulus - The Wall Street Journal Economic Forecasting section, (07/10/09)
Wall Street Journal Staff Writer Phil Izzo reported that most surveyed economists thought that the Obama's stimulus package "has provided somewhat of a boost but that the larger effect is still to come."  He also writes, "Most economists appear content to take the wait-and-see approach, as on average they are expecting the just-ended second quarter to be the last in which gross domestic product contracts.  They forecast growth rising more than 2 percent on a seasonally adjusted annualized basis in the first half of 2010.  Meanwhile, the median forecast sees the end of the recession next month."