Great weather this weekend makes for a great time to buy a home! Look for lots of buyers to be out “shopping” this weekend!
Contact Scott MacDonald, Broker/Owner of RE/MAX Gateway for more information and a personal assessment to meet your goals.703-652-5777 or scottmacdonald@remax.net
The real estate market continues to be hot – just like the weather.
Inventory levels remain below 7,800 active properties for sale in Northern Virginia. Last year at this time we had over 9,550 – quite a difference. There is pent up demand but we are lacking “really good” inventory. We have buyers that would move up if they found something suitable in a higher price points but nothing seems to be coming on to help with this situation. So here are a few quick stats on the overall market:
Now, just like the weather, things can be a little sticky…if properties get priced too high, they are sitting on the market. They are getting lookers, just no offers which at times has led to frustration for our sellers. It is important to keep in mind proper pricing today is still critical. To learn more about how we can help you with selling your home, feel free to call me.
The big news recently has been Brexit and how it will affect us in the United States. Well, virtually immediately, interest rates on mortgages dropped to three year lows. The good news is they are expected to stay this way for a while. There is speculation that International investors may sell off their holdings in the UK and invest in the US which could be good news for cities like Washington, DC, New York, Chicago and Los Angeles – let’s keep an eye out for this movement. The overall sentiment is we may not see its full impact for years but in the short term it will be good for the US housing market.
As always, we are here to help with any questions you may have regarding the Northern Virginia real estate market and have a safe, fun and enjoyable July 4th celebration.
RE/MAX Gateway
Scott MacDonald’s Northern Virginia real estate housing market trends, local statistics and how this can impact your buying or selling a home click to play video
Contact Scott MacDonald 702-652-5777 Broker for RE/MAX Gateway for more information and a personal assessment to meet your goals.
RE/MAX Gateway
Very Low Inventory + Lots of Buyers = Good News for Sellers! click to play
Thinking about selling your home? Contact Scott MacDonald 702-652-5777 for more information and a personal assessment to meet your real estate goals.
Now is a great time to buy and sell a home in Northern Virginia!
RE/MAX Gateway
Scott MacDonald video update about the local housing market statistics and the impact on buying and selling a home in Northern Virginia – even with Winter Storm Jonas and the possibility of Snowmageddon 2016! click to play video
Now is a great time to buy and sell a house!
Contact Scott MacDonald 702-652-5777 Broker for RE/MAX Gateway for more information and a personal assessment of your housing goals.
RE/MAX Gateway
Wow, 2015 flew by in a blink of an eye and I am sure 2016 will as well. As 
I mentioned in my previous market updates, we pretty much enjoyed a stable market for housing in 2015. I expect things to pick up in 2016 because of all the recent activity. Many of our agents have been working through the holidays with clients and I too have been meeting with both buyers and sellers looking to make moves in 2016 – more so than any other recent December. So buckle up, the market will be moving forward in a positive direction.
A few areas in the mortgage arena for us to keep our eyes on are rising interest rates and loan products. Now that the Fed has raised their rate, mortgage interest rates are now just above 4%. Still great, don’t get me wrong, but they are just a tad higher than where they have been most of 2015. The other interesting thing to watch with mortgages are the new programs coming into the market. Fannie Mae now has a low down payment loan to compete with FHA loans. These loans compete because the down payment can be a gift so buyers don’t need to have their own money saved for the down payment. Additionally, I have read there are potentially no down payment loans coming back into the market soon. These two loan products could help Millennial buyers enter the market sooner as they have not been able to save for their down payments due to high rents, student loan debt and lower paying jobs. This is important because Millenials will be the largest home buying demographic once they can afford to buy.
Something else to watch is as sales continue to rise, prices too will follow – hopefully at a sustainable rate and not like the San Francisco market or our market from 2002-2006. Home ownership is extremely important to wealth building and consistent growth in prices help this happen for many people. We don’t need an escalating housing price market like we had in the past, as no one wins in the end. I would expect a 3-5% increase in housing overall in Northern Virginia. Some areas will see more, others less, so please ask me about your home’s value if you are interested.
As always, if you or someone you know is looking to buy or sell a home, I am here to help so please feel free to call me. Here is to making 2016 one of your best years ever! Happy New Year!
RE/MAX Gateway 4090B Lafayette Center Drive, Chantilly, VA 20151 Offices strategically located throughout 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. 
This 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.
RE/MAX Gateway
Happy New Year Gateway Agents,
Now that the holiday season has come and gone, it is time to get geared up for 2015 and make it your best year ever. In order to achieve all you desire, you will have to make sacrifices, develop more willpower, practice more discipline, have more consistency and continue to grow personally and professionally.
One is time. Time with family and friends will be limited. As you will be busier than you have been before, are you ready to make this sacrifice and are they?
Another area is investing in yourself and your business. Do you have the money and resources available to you and are you willing to allocate them appropriately this year to realize the success you are planning for in 2015. Lastly, committing yourself to working more efficiently, effectively and focused is a huge sacrifice – are you ready to make the sacrifice for your success?
Developing willpower – the ability to say no to unproductive, time-wasting activities is huge. You will have to say no to coffees, lunches, happy hours, and ball games with family and friends to keep you focused and on point. Do you have what it takes to develop this necessary ingredient to high levels of achievement? Get willpower do to the hard things and get successful.
Practicing and working on discipline is critical to getting the results you want for yourself. Getting up earlier, staying at the office a little later, developing a morning routine that gets you on track the rest of the day, sticking with a structured schedule – daily – and pushing yourself outside your comfort zone are the pieces of the puzzle that will get you further, faster. Be disciplined in your activities, work smarter not harder and achieve great things in 2015.
Accomplishing tasks, making things happen and doing them regularly, with consistency is a key ingredient to success. The important thing to keep in mind here is to not let a few disappointments slow you down. Consistently set a schedule – with top priorities the night before you leave the office, consistently call your database, consistently attend networking events, consistently grow your database, consistently review and adjust what your plan is according to how the market fluctuates.
Growing personally and professionally is another success factor. Start an exercise program, eat healthier, drink less alcohol and sodas, stop smoking, and take time to think. Grow professionally by attending trainings, get involved in mastermind groups, obtain a designation, get a mentor or coach and meet with an “expert” in the business to get their perspective on what is happening and what they are doing to be successful.
Here are a few more tips to consider – stay positive, stay focused, talk to yourself and stop listening to yourself, read more and watch less TV, stop complaining, hang around people more successful than you, volunteer your time, learn something new every day and take action.
Don’t just survive, it’s time to thrive in 2-0-1-5! Get it? Got it? Good!
Now, go sell something
RE/MAX Gateway
Watch Scott’s Market Minute on YouTube: Hyper-local Northern Virginia Real Estate Market Has Sellers and Realtors Nervous
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
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
