Scott’s Market Update

Two things went DOWN last week, can you guess what they were? Find out in Scott’s latest market minute message.

Check out my LATEST LISTING >>> http://www.theresultsrealtygroup.com/…/…/lo10080229/45956867

Interested in learning more about your buying or selling situation?  Give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

 

Real Estate Market Changes and Challenges November 2015

Leaves are falling and so is our inventory of homes for sale in Northern Virginia.  It is typical that homeowners who don’t need to sell or don’t have to sell take their homes off the market this time of year.Fall 2015 Real Estate Update  Along with the falling leaves and inventory, house sales are also falling – again, typical for this time of year.  Many potential homebuyers take a break over the holiday in anticipation of the spring market.

All this being said, there are sales happening in the marketplace.  Year over year sales are up in Northern Virginia as are sales prices making our housing market healthy.  If you have a situation which causes you to sell, now is a good time to do so.  With lower inventory levels and serious buyers in the market you can set your house apart from the competition to attract a sale.  Couple this with mortgage interest rates remaining low adds to the allure of home ownership right now.

On an interesting note, the SEC passed a ruling – Title III – which will allow retail investors to have access to invest in private businesses without that company having to register with the SEC.  This could have an impact on real estate as Equity Crowdfunding is a $2.5 Billion market.  These are groups that are forming to purchase properties and rent them out or fix and flip them.  This ruling goes into effect in 90 days and it won’t transform real estate overnight but it is something for us to keep an eye on moving forward.  To learn more about this, please feel free to call me 703-652-5777.

Oh, and we cannot forget, it is that time of year again, when the holiday season comes into full swing!  We have Thanksgiving right around the corner followed by Christmas and New Year’s Day – lots of time to spend with family and friends.  We wish you a happy time this season and hope you have a great holiday season.  And always remember, if you have any questions or concerns about real estate, we are here to help!

Scott MacDonald

RE/MAX Gateway

4090B Lafayette Center Drive, Chantilly, VA 20151

Offices strategically located throughout Northern Virginia.

4 Most Important questions we ask this time of year: Are the kids back in school yet? How was your Summer? How is the Real Estate Market? How are Interest Rates?

Wow, the summer real flew by this year.  Swim meets, baseball games, family vacations and house sales all made time fly. As school begins and Labor Day is upon us, we generally see a little slow down in our market but a few weeks into September and through the first few weeks of November we see the market generally pick back up and this year should be no different.

In my daily routine I often run into friends, past clients, other real estate professionals and of course my agents.  The question most asked is “how’s the market”.  The answer is always, “it depends”.  Are you a buyer, seller or are you looking to rent or are you a landlord PLUS, where are you speaking about the market specifically?  The reason is, it is different under each scenario and in different locations.  Real estate is and will always remain, hyperlocal.  Generally speaking, the Northern Virginia market is better than it was last year.  We have more sales, prices are stable, but there are also more homes for sale.  There are pockets where inventory is low and others where inventory is increasing making it even more important today to speak with a professional about your situation in more detail.

The second most asked question is “how are interest rates and are they going up anytime soon?”  Mortgage interest rates remain great hovering right around 4% for 30 year fixed loans.  A few months ago the Fed spoke about raising rates around this time but with the recent financial market setback and the fact that the job market for higher paying jobs is still flat, it appears a rate hike is not likely.  Additionally, with an election year just ahead of us, no one will be eager to raise them while trying to get re-elected or be in favor of an increase if they are trying to get elected.  Therefore, it does not appear we will see an increase in rates anytime soon keeping our interest rate environment stable.  To learn more, please feel free to call me.

So, kick back and enjoy the Labor Day holiday with friends and family as I climb Mount Kilimanjaro.  I will report back about our great adventure next month.  We are accepting donations until October 3rd so please feel free to help our cause by visiting http://fundraise.thelastwell.org/scottymac and make a difference in the lives of others.

Thank you!

Scott MacDonald

Healthy Housing Market For Home Buying And Selling in Northern Virginia

The Northern Virginia real estate market continues to remain stable. Recent numbers show that houses are selling, prices are raising slightly, and inventory levels are increasing slightly. All of these numbers are at healthy levels in my opinion. 2015 Interest Rates Home Prices in the Northern Virginia Real Estate MarketThis news is making now a good time to both sell and buy a property.

One thing that has been a wild card is interest rates. Increased rates can hamper the steadiness of our market and right now they are near 2015 highs.  Over the past 3 weeks, there have only been two days where rates managed to improve even a little bit.  Four out of the past six days have seen uncommonly big moves higher.  These are the sorts of moves that we’d normally only see 2-3 times per month, so to see 4 of them in just over a week is alarming. It is definitely an area we need to pay attention to moving forward.

Going forward, I see more of the same out of our housing market. There will be a good home selection for buyers to choose from, reasonable prices and rates remaining in the 4% range. As good homes come on the market that are priced right, they are selling because there are buyers in the market looking to own. Houses that have been on the market because the owners “pushed” prices, didn’t have them in the right condition or just had bad timing (putting them on the market at the end of October) will continue to sit. Buyers want fresh listings, not old, tired listings that have been lingering on the market. Therefore, it remains critical to have your house staged, in the right condition and priced right to get it sold if you are looking to put your house on the market.

If you have any questions or concerns about your situation, feel free to call me today 703-652-5777 . I am happy to discuss how we can help you.

Scott MacDonald

RE/MAX Gateway

Scott’s Market Minute: Spring Real Estate Market Is Warming Up

Residential inventory of houses for sale in Northern Virginia is beginning to pick up and the Washington Wizards kicked off the playoffs with their first win! Get all the stats here and everything you need to know to set yourself up for success! Are you buying or selling? Contact Scott MacDonald (703) 652-5777 scottmacdonald@remax.net to find out the best strategies to put yourself ahead in this housing market.

Scott MacDonald

RE/MAX Gateway

Video

Northern Virginia Homes For Sale – The Inventory Is Climbing!

The inventory of homes for sale in Northern Virginia is growing quickly. You need to know how to set yourself up for success in this Spring real estate market! Are you buying or selling? Contact Scott MacDonald (703) 652-5777 or email scottmacdonald@remax.net for information and strategies to put yourself ahead in this housing market.

Scott MacDonald

RE/MAX Gateway

Things Heat Up: Valentines Day and the Northern Virginia Real Estate Market

Thinking of buying or selling a home in Northern Virginia? Scott MacDonald of RE/MAX Gateway offers valuable information to home sellers, buyers, and REALTORS and what is driving the real estate housing market in his video blog Scott’s Market Minute.

If you are thinking of selling in 2014, now is the time to get the answers to your questions. Contact Scott MacDonald (703) 652-5777  There’s still time to get your home listed for sale in this early Spring market!

Buyers, the resale home inventory is very low and rates are beginning to climb, now is the time to buy a home! Email Scott for a free optimized homes for sale search engine or list. ScottMacDonald@remax.net or read more… https://scottymacsblog.com/

Scott MacDonald

RE/MAX Gateway

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How to Get Multiple Offers On Your Home For Sale In Northern Virginia

Unlike the weather, the real estate market is HOT!

WINTER SCENEWe currently have a 1.8 month supply of houses on the market in Northern Virginia.

Interest rates remain low so buyers are buying homes and jobs in the DC Metro area continue to be created so people are looking for housing in our market.  We expect this trend to continue for the next several months.  Sellers are in the proverbial driver seat if they do the right things to their property before putting it on the market.  If you are considering selling your house, read more below…

As I mentioned, right now our biggest issue is finding houses to sell.  We currently have 3,850 properties for sale in all of Northern Virginia – down from a high of the last year when we had 6,005 in the second week of October.  That is a 36% decrease in houses for sale in just 3 months.  We expect more properties to come on the market as the ice and snow melt, as well as, into the spring market but we have a lot of people looking so I don’t see that it will have a huge impact in regards to our inventory level moving forward.

The low inventory situation has resulted in multiple contracts on properties that are in great shape, priced well and show well.  As properties come on the market that are in the same situation, they too will have multiple contracts.  Therefore, buyers need to be prepared.  We have developed a strategy to help buyers position their contracts to win when in competitive situations – check out my blog to learn more – www.scottymacsblog.com simply search for multiple contracts or click the link here.  Sellers need to seek our advice when selling so we can help stage the house, give direction on what improvements/repairs need to be made and to price the home properly so they can take advantage of the market.

REMAX FOR SALE SIGN SOLD

As always, I am available to answer any questions you may have in regards to your personal situation so feel free to contact me anytime.

Scott MacDonald

RE/MAX Gateway, LLC

(703) 652-5777

scottmacdonald@remax.net

Video

7 Ideas For A Successful Real Estate Open House

The Spring real estate market is already warming up and due to low housing inventory, an Open House can be an effective way to get your listing seen. Listen as Scott offers some great ideas that were shared in “The NEW Agent” training series on how to help ensure a successful real estate open house.

Scott MacDonald, Broker/Owner/President of RE/MAX Gateway mentors and offers practical advice to real estate agents. Want to learn more? Contact Scott MacDonald (703) 652-5777 scottmacdonald@remax.net to learn more about how to be your best as an entrepreneur in the real estate world. Read more at scottymacsblog.com

How to be successful this year in real estate.

It’s the beginning of the year and agents are asking what they need to do to be successful this year in real estate.  As I thought this through, I came up with a few areas that I believe agents need to “pay attention to” sooner rather than later to be successful in real estate.  Here is the list of urgent and important items, urgent items, important items and lastly, to do items that I came up with for success this year and beyond.

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Urgent and important

  • Get you database together – sort and qualify them.  Assemble their name, address, email address and phone number.
  • Call them, stop by and see them with a “leave behind item of value”, communicate with them regularly to strengthen your relationships with them and to develop your base of business.
  • Add people to your database daily – grow who you know and also, those who know you
  • Develop a daily game plan of who you are going to reach out to and why.  Do this the evening before or the morning before you start your day.
  • Create a daily schedule with strategic blocks (1-2 hours), buffer blocks (3-5 hours) and break out blocks (1-2 hours) built in and stick to it for success.

Urgent

  • Have a business plan complete with goals, objectives to meet these goals, and action plans to carry you over the goal line.
  • Hire a coach/mentor to keep you on track – meet with them weekly to review your goals/business plan.  Your broker or manager is always a good start as they are invested in your success.
  • Get an accountability partner to hold your feet to the fire complete with rewards as well as consequences for your actions.

Important

  • Learn the business – read publications, attend industry events at your office, Real Estate Exchanges, Quarterly meetings, association and at the franchise level.
  • Learn the inventory – see 5 houses every day including new homes.  Attend Broker Opens.
  • Meet with others in the industry – lenders, title, builders to gain insight into their areas of the business and what is happening with them.
  • Start a blog and write consistently.
  • Do videos and post to your blog, website, and social media channels to gain exposure and recognition as an expert.
  • Plan to host at least one client event this year.
  • Have a daily to-do list.  Work on hardest things first as they are typically the most critical.
  • Develop a routine and stick with it.  Always start with prospecting as it is the key to success.
  • Maintain a calendar with events and goals for the day and week.
  • Work on your negotiation skills through role playing.
  • Be present – stay off cell phone during your “block” times, focus on the other person, be an active listener.

To do’s

  • Utilize systems and process to ensure your success for marketing yourself, working with buyers and sellers.
  • Set up a networking group to grow your business.
  • Create and develop your brand – who you are, what you deliver and what you stand for in the business.
  • Read inspirational and motivational articles, books, etc. each morning to get you in the right frame of mind daily.
  • Continuously educate yourself personally and professionally.  Set a goal to read a book a month or even a book a week or to attain a designation.
  • Eat healthy and exercise regularly.
  • Invest wisely in yourself and in your business – check with your coach, mentor or trusted advisor before any major expenditures.
  • Celebrate your successes, including the small ones as they all count!
  • Consistently work on communication skills.
  • Create a vision board of your goals, dreams and desires.
  • Have a good balance between work and life.

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As you progress in your career or if you are looking to jump start your career be sure to add these items to guide you to success.  Obviously there are other areas which you need to develop but these will most definitely help you.  If you are interested in more information or would like to schedule a time to meet, please feel free to call me.

Now, go sell something!