Scott’s 8 Real Estate Predictions for 2018

Check out Scott’s 8 Real Estate Predictions for 2018. Do you agree with Scott’s prediction? Do you have any predictions about the real estate market for 2018 of your own? Share them with us!

Visit our Facebook page and post your real estate predictions for 2108.   https://www.facebook.com/remaxgateway/

Scott’s Weekly Market Update

Inventory levels are still low, but the market is just like the weather today “hot” (for January in Northern Virginia)! Learn more in Scott’s latest Market Minute message.

If you would like to talk about your specific situation, give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

December Market Update

As we enter the holiday season, we continue to see strong sales numbers in the Northern Virginia housing market, even as inventory levels continue to decline. Right now, we have 24% fewer homes for sale than the last week of November in 2016. We are seeing houses that are priced right still receiving multiple contracts, which is unusual for this time of year. Purchasers are ready to buy when they see the right house!

holiday banner

During this time of year, I often get asked, “should I keep my house on the market or take it off”. My advice is simple –  if you need to sell, keep it on. Nicely decorated houses look festive and cozy which attracts many buyers (see the article about holiday staging on the next page). Additionally, buyers who are looking over the holidays are serious buyers; we don’t get many window shoppers this time of the year.  These buyers are looking because they have a real housing need; whether their lease has ended, they are relocating into the area or they are looking to get a great deal as sellers tend to be a little more motivated when listing their homes at this time of the year. If you don’t have a real need to sell, take your house off the market and kick back, relax and enjoy the holidays. Wait until the second or third week of February to put it back on the market. If you or someone you know is thinking about selling or buying a home, please let me know so I can give them advice specific to their situation.

In other news… After much deliberation, the Senate tax bill narrowly passed during the early-morning hours on Saturday December 2nd in a vote of 51-49. The House passed their bill in mid-November so now they need to both come to an agreement to put on the President’s desk for signature. Details of the final plan are still forthcoming, but we do know that you can write off up to $10,000 in property taxes to local and state authorities and the corporate tax rate is staying at 20%. Both tax reform proposals double the standard tax deduction, which may, in many cases, provide a greater benefit to renters than to homeowners. You will be able to write off mortgage interest up to $500,000 which is helpful to many tax payers as well. The question becomes, will homeowners now also have a dis-incentive to sell their home in order to keep their current interest rate deduction of up to $1 million as they will be grand-fathered? If so, this would potentially add new supply constraints. Stay tuned for additional details soon.

I hope that you enjoy the holidays with your family, friends and loved ones!

Sincerely,
Scott 

P.s… there is still time to RSVP to join us for our Annual Breakfast with Santa event this weekend!!
Breakfast with Santa HEADER ONLY

 

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 

Scott’s Market Update

I think I’ve said this before…. the tortoise and the hare effect is back! Learn more in this weeks Market Minute message.

Interested in talking more about your situation? I’d be happy to help! Feel free to give me a call at 703-652-5777 or email me at scottmacdonald@remax.net

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

 

October Market Update

As the summer comes to an end, we’re seeing the real estate market continue to move steadily along. We don’t anticipate any drop off in sales as we enter the fall selling season. We have buyers looking to enter the home buying market – especially first-time buyers. Interest rates remain low, new loan programs are becoming available to help cash strapped purchasers and these opportunities are available in all price points. As I see it, our challenge will continue to be inventory levels, as many home owners are staying in their homes. They are doing so because they are not able to find homes to fit their needs in available move up price points. We are also seeing an increase in the amount of people that are renting their houses since they are gaining equity and have low interest rates/payments which allow them to have positive cash flow.

We also have three types of sellers – those who want to sell, those who need to sell and those who have to sell.  Those who want to sell typically take their houses off the market as we head into the holidays, therefore reducing inventory.  As long as we have houses to sell, the market will stay steady.  Let me know if you have any questions or concerns if you are considering selling – the market conditions just might be in your favor.

Lastly, please keep an eye on what is happening with the President’s Tax Reform – doubling the standard deduction, eliminating state and local tax deductions and only having three tax brackets. Industry professionals predict these may all affect home values by 10%.  Again, if these changes occur, it could affect housing as tax payers who claim mortgage interest deductions may no longer be able to claim this deduction, thereby eliminating the need to buy as a tax plan.  Housing is critical to our economy so implementing this plan could put damper on the economic recovery.  Let’s hope this reform doesn’t pass in its current form.

Halloween-Sold-Sign

Have a happy and safe Halloween!

Scott’s Market Update

Just like the race between the tortoise and the hare….so goes the market! Learn more in this weeks Market Minute Message.

Are you interested in buying or selling your home? Would you like to know the current value of your home? Give me a call for a free analysis at 703-652-5777 or email me at scottmacdonald@remax.net