Scott’s Market Minute 9/28/18

Inventory levels have come down from last week, and in some areas, prices have too! Is not the time to buy? Learn more in this week’s Market Minute Update.

If you would like to discuss your particular situation, please feel free to give me a call at 703-652-5777 or scottmacdonald@remax.net

#realestate #northernvirginia

Scott’s Market Minute 8/10/18

How’s the market these days? I’m comparing the real estate market to the Washington Nationals again in this week’s market minute message. Click play to learn more!

If you’d like to learn more or talk about your specific real estate situation, feel free to give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

August Market Update

As Summer Winds Down…

Wow, did July fly by or what? It seems like it just started and it is over already. This month we saw inventory levels stay steady – which is typical for this time of year. The biggest difference is the amount of inventory available in the resale market. We are currently down 12% from this time last year. The good news for sellers is the pace of sales is comparable to last year’s sales – resulting in a 1.9 month supply of homes versus 2.1 last year. Unfortunately, while overall home prices are up, they are not flying off the market as quickly as they did earlier this year. Therefore, patience is required in some selling situations. The buyers in today’s market are taking their time making decisions as they are not feeling compelled to write an offer on the home the first time they view it. The market dynamics have shifted, and sellers need to be aware of this, so they remain patient and not anxious. If you are thinking of selling, let’s get together to discuss your plans in more detail.

Mortgage interest rates are about a half point higher than last year, so this may also be impacting a buyer’s decision-making process. In addition, some houses have higher price tags than what they are worth resulting in some buyer hesitation on making offers as they don’t want to offend the seller. It is a complex transaction and will, in many cases, be someone’s largest asset, so taking the time and analyzing the house, the market and various options available to them can be a good thing for many people. In any of these
situations, I’d be happy to assist in helping find the best location and home
for you when deciding to make a move.

end of summer

As high school sports are back in full swing with their practices starting and the vacation season behind us, let’s see if we don’t have a quick uptick in housing sales before September. As always, time will tell.  Enjoy the hot rainy weather and feel free to call us anytime.

 

A Quick Minute of Motivation

In this new 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 today about two things – #1- the pre-planning for your sales call and #2 – the post-analysis of your sales call. Are you prepared when you are heading out to a meeting (sales call)? When your meeting is over, how do you use the information you received from your client to close the deal? Learn more about this important process in my quick motivational video.

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

Now go sell something!

Scott’s Market Minute 7/13/18

What do amusement parks and the real estate market have in common? Find out the answer and great up to date information on the local Northern Virginia real estate market in this weeks Market Minute message.

Would you like to talk about your specific situation? Give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

Scott’s Market Minute 7/6/18

Much like my desk today, the real estate market is a mess! Learn more about the advantage of being a buyer in the Northern Virginia market right now in my latest Market Minute message.

Would you like to talk about your current situation – looking or buy or sell?  Give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

Scott’s Market Minute 5/25/18

It’s the last week of May and inventory levels have….. Check out Scott’s latest Market Minute message to find out what’s going on in Northern Virginia!

Give me a call if you would like to talk about your situation. I can be reached at 703-652-5777 or email me at scottmacdonald@remax.net  Have a great weekend!!!

Scott’s Market Minute 4/27/18

Inventory levels are up, interest rates are up, distressed inventory is also down – May is going to be a “lucky” month for sellers! Learn more about what’s going on in the Northern Virginia area real estate market in Scott’s latest message.

If you’d like to talk more about your situation, give me a call at 703-652-5777 or email me at scottmacdonald@remax.net.   Have a great weekend!!

Scott’s Market Update

new-year10

Happy New Year! The temperatures in Northern Virginia are frigid, but the real estate market is anything but that. We are seeing activity throughout our area which is great for sellers. We had showings at our listings on Christmas Eve, Christmas Day, New Year’s Eve as well as New Year’s Day – it is crazy! One of our agents had an open house on New Year’s Eve and had 21 visitors…did I mention it is freezing outside?  I haven’t seen this much activity around this time of year in my career of 30+ years.

It is looking like 2018 will be a very good year in real estate – especially for sellers. We ended the year with inventory levels nearly 18% below last year which is 24% below the previous year. The lack of inventory is putting many sellers in the driver seat in the real estate market today. Buyers should not be concerned; more houses will be coming on the market as we enter the New Year and early spring market. Additionally, rates remain favorable and should stay within .5% of where they are today for 2018.

More good news – the tax reform that recently passed will not affect most of our area. The mortgage interest deduction (MID) is capped at $750,000 for new mortgages and our average sales price in Northern Virginia is $516,000 – so this won’t hinder those looking to buy from buying. Also, the deductibility of property taxes is capped at $10,000 so again, for the most part, we won’t see buyers shying away.

Lastly, the ability to avoid paying capital gains on your mortgage principal (if it was your principal residence 2 of the last 5 years) remained in place along with the limit of the gains at $250,000 for an individual and $500,000 for a married couple. This should help us with inventory levels as well! Again, all good things! If you have any questions about your current situation, please feel free to call me.

Have a great 2018 and please stay warm as we battle these icy cold temperatures.

Scott MacDonald 703-652-5777 or scottmacdonald@remax.net

Scott’s Market Update

Its hard to believe its already December 1st! There are some serious inventory issues going on…. #gatewayagetsrock #bringon2018

 If you have any questions or would like to talk about your particular situation – please feel free to give me a call at 703-652-5777 or email me at scottmacdonald@remax.net