A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. Do you know what Wednesday is? It’s January 15th. Find out the significance of this date in my latest motivational minute message.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I’d like to ask you a question. What is a goal? A goal can be many things. Do your goals have deadlines? Check out my latest video on the importance of setting deadlines for the goals you have set for 2020.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

January 2020 Market Update

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Happy New Year!

As we enter the New Year and New Decade of the 2020’s we are experiencing the lowest levels of available homes for sale in years. We currently have just 1,946 homes for sale in all of Northern Virginia. We have a serious need for more houses to come on the market! As of the end of December, we were experiencing multiple contract situations on many houses throughout our area – as many as 23 offers on one house. The demand is there, the housing supply is not. Sales last year outpaced sales from 2018 by nearly 1.5% through November and should outpace sales through December as well. Interest rates remain very low making it more attractive to buy versus rent in many cases. Those who previously suffered credit damage from the housing crisis during the great recession in the mid-2000s are now recovered and property values are increasing making now a more desirable to time own. Therefore, we now have a lot of pent up demand for housing at all price points.

Additionally, there is also a shortage of rentals available on the market, so when they do become available, they rent quickly. There is currently just a half month’s supply of rental houses in Northern Virginia. These factors definitely make it an ideal time to sell or rent your home. Call me to learn more about how you can position yourself for success in this market when making this decision.

Overall the economy is strong in Northern Virginia. Unemployment is very low in our area and with Amazon ahead on their hiring, I don’t see a change in this for us. The only issues we are really facing are the trade talks with China and Trump says the phase one agreement will be signed mid-January and the Iranian situation. Will this escalate to yet another war? If either of these issues goes awry, we could have economic problems that could affect the market as we know, only time will tell.

The good news is we continue to have a robust real estate market and I am available to help you when you are looking to make a move.  Make the 20’s your best ever!

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I’d like to ask you a question. Are you optimistic? Are you ready for 2020? How will you help others become successful in the new year? Check out my latest video on the importance of being optimistic and helping others.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I’d like to ask you a question. How are you holding yourself accountable? Is it the carrot or the stick that motivates you? Let me know! Check out my latest video for a quick reminder of the importance of being accountable.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

 

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message we’ll talk about your year in review. Have you looked in the rear view mirror of 2019 to help you plan for 2020? Check out my latest video to learn more about the importance of reviewing your successes and defeats to plan for an even better new year.

Need more motivation or would you like a copy of my planning spreadsheet? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I’d like to talk to you about your lead sources. How many sources do you have? Only one or two? Learn more about the importance of having several lead sources in my latest video.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

December 2019 Market Update

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Wow, did November fly by or what?  It seems like I just sent my November newsletter and here we are in December already – crazy to me for sure. November brought a few substantial changes in our industry. First is the way we must now market our listings. The ability to pre-market homes as we know it has gone by the wayside. Previously, we could use signs, online marketing on social media sites, real estate websites, networking events and/or email campaigns to get the word out about future listings either days, weeks or months in advance. Now, we must put the home in MLS within one business day as active or in “Coming Soon” status once the property is marketed to the public in the aforementioned ways. It is more consumer-friendly as it opens up all houses to the buyers and it also gives sellers maximum exposure to all buyers by sharing the properties with all agents. Before this new rule, there were agents who would privately market homes to the detriment of the seller and potential buyers. This change will also provide accurate data in MLS for sales information, so we all know what sales prices and concessions are and inform us if the sale was an arm’s length transactions or not.  This is helpful for pricing houses for both buyers and sellers as well as appraisers. To learn how this can affect you when deciding to sell your house, give me a call, I’m happy to share more details.

The second area is financing houses and loan amounts. Here is a brief history of what FHFA has done since 2016 with conventional loans: back in 2016, the FHFA increased the conforming loan limits from $417,000 to $424,100. Then, the next year, the FHFA raised the loan limits from $424,100 to $453,100 for 2018. And in 2018, the FHFA increased the loan limit from $453,100 to $484,350 for 2019. Lastly, just last week, the new loan limits will be $510,000 for 2020. Jumbo loans will now go up to $765,600 in our area. Jumbo loans typically have higher interest rates. Please call to learn more about how this can help you when buying or selling a house.

Also, VA loans no longer have a limit, but they do have liability issues which can affect the amount of your loan going forward. If you are a veteran, your eligibility will drive your maximum loan amount. In addition, the funding fee for zero-down loans will be 2.3% of the loan amount in 2020, up from 2.15% for regular military in 2019. The fee for subsequent use loans will be 3.6% of the loan amount, up from the current 3.3%. You can pay the fee upfront or roll the cost into the loan. These go into effect for any loan that closes after January 1, 2020. Again, if you have any questions at all, please call me.

I hope you have a safe, fun and festive holiday season with all of your family and friends!

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I am issuing another challenge! How can you make yourself better than you were yesterday? Take a few minutes today and every day this week to make yourself incrementally better over the next few days. Learn more in my latest video, I’d love to hear your results! Please make sure to share them with me.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer. In today’s Peak Performer Series message I wanted to talk about something that will really hold you back – excuses! Are you making excuses or are you really out there doing the tasks that need to be done to grow your business? Take a few minutes to watch this quick video to understand why you should stop making excuses.

Need more motivation? Give me a call at 703-652-5777 or email at scottmacdonald@remax.net