What is your driving force?  What is your true passion?PASSION

In the search for a meaningful and fulfilling life, it is extremely important to determine what you are passionate about. Too many people go through the motions of life without purpose because they are not pursuing their passion.

Here are my thoughts on passion.

Prioritize what is important to you.

Assess yourself and see if you have the ability to do what you are passionate about.

Skills will be necessary, so develop them continuously.  The better you are at what you love, the more passionate you will be about it.

Seek the people and the knowledge you will need to get better.  Always learn more from those who have been there and read voraciously to be the expert on your passion.  A mentor will get you where you want to go more quickly with fewer hiccups.

Initiate – as Nike says, just do it.  Take action to pursue your passion.  If you delay, you will only be hurting yourself, your success and your happiness.

Optimism, positivity and productivity in your life will ensue when you follow your dreams.  The choice you have every day to be positive or negative is easier to make when you are taking action on your passion.

Never give up – never, ever give up.  There will be obstacles in any endeavor but remember to keep your eye on your prize, you will make great things happen.

If you are looking to improve your life, do more of what you desire, improve by enhancing your skills and learn from others that know what you want to become.  Take action sooner rather than later.

Now, go sell something!

Scott MacDonald

RE/MAX Gateway

Well, we have good news to report on the market – We have reached a point of stability.

We are now officially into the winter market as we are starting to see things wind down.  Our listing inventory is currently at 8,512 houses for sale which is actually down from our 7 year high last month.  STONE BALANCEWe have a 3.7 month supply of homes which is about the same level as last month.  Obviously, we would like to see more sales as would our sellers but we are maintaining our sales levels, not decreasing which is more good news.  Additional positive news is interest rates remain low and prices are stable so the opportunity for buyers to lock in reasonable monthly payments is available.  From the buyer’s perspective, now is a great time to buy.

I had a conversation with Josh Burruss of MVB Mortgage about payments with rates where they are today versus a situation where they to go up .5% – here is the result of our discussion.  Currently the rate on a 30 year fixed conforming mortgage is approximately 4.00% (APR 4.058%) based on a sales price of $500,000 with a down payment of 20%.  If the interest rate were to rise just 0.5% (4.50% – APR of 4.562%) from current levels, the principal and interest payments would increase by approximately $117/mo.  The difference in the overall finance charge in these two interest rates over the life of the loan is approximately $42,241.94.  As you can see, just a half percent in interest rate can mean a huge difference in overall cost over the life of a mortgage.  If you want to discuss this with him in greater detail, feel free to call him at 703-727-4239.

Moving forward, we need to pay attention to the end of QE3 and the government’s subsequent completion of bond buying.  We are expecting rates to rise into 2015 as a result of this policy.  Right now we have great rates so take advantage while you can because the Fed still thinks it will be a “considerable time” before it begins to raise interest rates. The Zero Interest Rate Policy remains in full force, as it has been since it began at the end of 2008.  This policy will change because we cannot sustain this type of monetary policy as it just continues to add to our National debt.  Plus, we need a market-driven interest rate environment and a more predictable monetary policy to help foster long term economic growth.  This will definitely impact our housing recovery moving forward.

We would welcome the opportunity to discuss your housing situation in more detail so please feel free to contact me via email scottmacdonald@remax.net or give me a call 703-652-5777

Scott MacDonald

RE/MAX Gateway

kristinia bouweiri

Kristina Bouweiri, President & CEO Reston Limousine kbouweiri@restonlimo.com

The Entrepreneur Business to Business forum at NVAR yesterday featured an accidental entrepreneur, Kristina Bouweiri.  She calls herself this because she never thought or had the desire to become a business owner.  She was a 100% commission based sales person selling advertising when she was offered a position at Reston Limousine.  It was there she learned what it was like to operate a business.  She did booking, invoicing, hiring, you name it – she did it all plus was a mother of four.

There were several events that helped shape her business to where it is today.  One is when she was approached to provide a shuttle service for the National Geological Survey which got her company into the government and getting government contracts and the other was 9/11.  When 9/11 occurred her business ground to a halt and she had to get out behind the desk and out on to the street to make things happen.  She got involved in Chambers, Charities and multiple Boards which all helped her gain clients and not only survive but thrive.

Her philosophy of how to run a successful business mirrors running a real estate business whether you are a broker or an agent.

Here are a few things owners and agents need to consider:

  • Get out and get involved – network with other professionals in the business but also outside the business to help create opportunities for each other.
  • Continually grow your database and maintain regular contact with them through email, phone calls and visits.
  • Get into a mastermind group of others in the business from around the country to share ideas on all aspects of the business and to help you develop best practices.
  • Join a peer advisory group like Vistage to help you grow your business as well as hold you accountable.
  • Attend conventions, seminars and be a continuous learner. Be knowledgeable about your business.
  • Develop strategic relationships to grow your business.
  • Learn to delegate. Take an hourly calendar and track what you are doing each hour for two weeks.  See what your hourly rate of pay is and any tasks you are doing that don’t pay your hourly rate, hire someone to do it.
  • Don’t spread yourself too thin
  • Hire to your weakness and develop your strengths.
  • Always look to hire the top talent and weed out the under performers.
  • Be relational not transactional – make great and long lasting relationships and help others to succeed.
    • Hold client appreciation events and solicit sponsors to help fund the events.
    • Figure out what you are good at delivering and make that your niche.
    • Be tech savvy and be an early adopter
    • Embrace social media – have a blog, website, LinkedIn, Facebook and email blast strategies to gain awareness, provide valuable content and to be seen.
    • Get involved in charities

    As you can see, she was a wealth of knowledge to the numerous agents in attendance and it was great information that parallels our industry.  To learn more, feel free to reach out to me.

    Now, go sell something!

Scott MacDonald

RE/MAX Gateway

Stable Real Estate Market SEPT 2014The word this past month used to describe the real estate market would be stable.

Although we are at an 8 year high in inventory levels, we didn’t see the rapid increase in inventory like we have experienced since May which is a good thing.  One area that we saw an increase in was in distressed property inventory.  Even though nationwide there are fewer foreclosures and short sales, we have more of them on the market here locally.  They are nowhere near previous levels but they are up 22% since the last week of June.  We will continue to monitor this for you and let you know of opportunities that are available.  We also did see a slowdown in sales which we don’t like to experience.  It was the fewest amount of sales for a month since January of this year but their numbers were virtually identical week to week so they were stable.  So, when you have high inventory levels coupled with fewer sales, we have seen more stable prices which is good for buyers.  It helps to keep housing affordability levels high for our buyer clients.  Owners are seeing the need to properly price their houses to make them competitive with the rest of the marketplace.  In addition to these market conditions we saw rates decline which helps keep the market stable as well.  Lastly, one area of surprise we experienced was the past week at our listings.  We saw an uptick in showings and buyer interest in our listings on line and in phone call inquiries.  This is good news as activity leads to sales.

FALL 2014 prognosis SOLID REAL ESTATE MARKETOn another note, we have a group of agents from different companies in our area that meet monthly.  These agents are in the top 5% of agents across the entire country in regards to sales.  We discuss the local market, inventory levels, buyer preferences, seller expectations, listing activity, and many other real estate related topics.   In this Platinum Club group meeting this past month we discussed the fall market and what our expectations were about the upcoming season.  The sentiment is the fall market will be a solid market in regards to sales.  We were all optimistic about what the market is going to bring and seeing activity at our listings pick up this past week may be the start of the momentum our region needs.  We will keep you posted.

Please let us know if there is anything we can do to help you or if you know of someone who may need our help.  We are here for you. Feel free to call me directly (703) 652-5777.

Scott MacDonald

RE/MAX Gateway

July 2014 REAL ESTATE MARKET is like a carnival rideThe summertime real estate market is a lot like a theme park – ups and downs like a roller coaster with sales, activity and interest rates and a lot of unknowns like a haunted house.

There are a lot of questions around what is happening in the market from sellers and builders we are working with to sell their houses.

It is an interesting dynamic where we have extremely low interest rates – at or near 4% – and a high home affordability index yet sales are not as strong as we expect them to be considering this situation.

July 2014 REAL ESTATE MARKET for sellers is like a haunted house
What are the reasons for this?

One potential reason is price appreciation along with the multiple offers earlier this year. Many potential homebuyers naturally paused to wonder: is it a new bubble? Or can I afford these prices? But price appreciation has greatly moderated as we have seen inventory rise dramatically since the beginning of the year.

Therefore, potential homebuyers will no longer face the sticker shock and can now make rational decisions about whether or not it makes sense to buy a home.

Along with the increase in houses on the market, we will be creating new buyers as these homes sell. So demand will increase as more sales happen in many instances.

Another reason is the economy isn’t growing as quickly as was expected and consumer confidence is not extremely strong. Once buyers gain confidence in the economy, housing will follow suit and grow with the economy. Until then, we will see moderate house sales as well as price appreciation.

We also are still experiencing tight lending guidelines and underwriting policies on mortgages. It is still hard for many potential buyers to obtain loans. The “qualification pendulum” is still too far to one side and needs to be moderated to allow more buyers into the marketplace with sound lending practices.

So, in order to be a seller in today’s market, you need to be patient. Good houses, properly priced, in the right condition will sell. It will just take a little longer.

If you have any questions or concerns, please call me (703) 652-5777 so we can discuss your personal situation in more detail. We are here to help.
Happy 4th of July!

Scott MacDonald

RE/MAX Gateway

Housing Inventory Increase

Wow, it is hard to believe that we are almost half way through 2014 and summer is just about to get into full swing.  It is going to be interesting to see how we get through the real estate market this summer as we had no true spring selling season.  At our June Quarterly Meeting, I announced our numbers were up so far this year but we were expecting to have helped more families buy and sell homes up to this point.  Of course the weather got in the way early on and now that school is about to get out, people will be taking their vacations.  So it is important for sellers to be prepared for the upcoming situation.

Our inventory levels have continued to escalate since the warm weather broke in May.  It has resulted in us having more homes for sale than any time since October on 2011.  As we enter the summertime, the season generally slows down which will increase inventory as well, so sellers need to do all they can to attract the buyers that are out looking for a new home.  Sellers need to position their properties accordingly, as there is currently a 2 month supply of houses on the market.  The inside and the outside of the house needs to shine and show like a model home, as well as be priced to sell!  We are not able to “push” prices like we did earlier this year. What it takes to sell your house in 2014The sellers who overprice their properties, even just above what we recommend, sit on the market.  Additionally, we are having appraisal issues with properties in areas where there are no sales to support the higher values – even in multiple contract situations in arm’s length transactions.  The underwriting guidelines have made it tougher to get above market values approved, so please price your house accordingly.

If you have any questions, concerns, or would like to discuss your specific situation or the market, feel free to call me today (703) 652-5777.

Scott MacDonald

RE/MAX Gateway

Watch Scott’s Market Minute on YouTube:   Hyper-local Northern Virginia Real Estate Market Has Sellers and Realtors Nervous

 

Inventory of houses for sale in Northern Virginia increased again this week.  A hyper-local real estate market can be a challenge for buyers, sellers, and their REALTOR.

Watch and listen as Scott MacDonald of RE/MAX Gateway offers the insight and explains strategies necessary for success in the Northern Virginia real estate market.

If you would like to discuss your specific real estate market, options or challenges, give Scott MacDonald of RE/MAX Gateway a call (703) 652-5777

Scott MacDonald

RE/MAX Gateway

The early Spring 2014 Real Estate Market has had many challenges: snow, rain, and low inventory… now the tides have turned. Listen as Scott MacDonald explains and offers the insight and strategies needed to buy or sell a house in Northern Virginia. If you would like to discuss your personal real estate market options or challenges, give Scott MacDonald of RE/MAX Gateway a call (703) 652-5777

Now that the spring market has sprung – inventory levels too have sprung into full bloom.

Our inventory levels are at three year highs with over 6,100 homes for sale in Northern Virginia. We have not had this many homes for sale since November of 2011 – nearly 3.5 years ago.  This is good for buyers who are searching for homes but sellers need to be cognizant of what this means to them.Image

Inventory levels are up 36% over this same time last year so sellers need to be competitive when they put their properties up for sale. What we have been seeing in the market is buyers are very discriminating now when it comes to their home selection. Properties need to be in model home condition, have great curb appeal and need to be priced right in order to get offers. When homes meet these criteria, they often times are receiving multiple offers while their neighbors who haven’t staged their homes, haven’t gotten them into model home condition or haven’t priced them properly sit on the market. We see sellers push values and stay for sale for extended periods of time. We see other sellers who don’t declutter or continue to “live” in their homes versus stage their homes properly and they sit on the market. Lastly, we see sellers not make the appropriate upgrades like painting, carpet replacement, adding granite, etc. and their homes continue to stay up for sale while others sell. Many of today’s buyers don’t want to make the upgrades, don’t have the vision to get homes into the right condition or don’t have the funds to make the improvements but qualify to buy the homes that have been put into the proper selling condition. As inventory levels rise, it is extremely important to make your house as competitive as possible to get it sold because there are buyers out there.

On another note, interest rates remain low which is helping purchasers become home owners both as first time buyers and as move up buyers which is good for our market. As rates increase, we will see people embrace adjustable rate mortgages as an option – especially first time buyers as their objectives are to only stay in the property for a short period of time. If you are considering a purchase, please ask about ARM’s and if they are a viable option for you.

Let’s hope the weather heats up and helps fuel the real estate market. The winter was brutal and the comment was made, if you can’t get out and buy milk and bread, you can’t get out and buy a house. Come on warmer temperatures – we need ya!

Scott MacDonald

RE/MAX Gateway

 

House inventory has dramatically increased in Northern Virginia. Buyers have more options. Real Estate Agents & Sellers alike… You need to watch this video blog for tips and tricks to help sell the home. Want to talk about your property in specific? Call Scott MacDonald (703) 652-5777 or email scottmacdonald@remax.net read more… http://scottymacsblog.com/

Scott MacDonald

RE/MAX Gateway

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