In this motivational series, I’ll highlight how to become a Peak Performer. Question – are you going the extra mile? Are you adding value and doing things for others without expecting anything in return? Check out my latest video message to learn more about why I feel it is so important to always go the extra mile!
In this motivational series, I’ll highlight how to become a Peak Performer. Question – are you giving back? With the holiday’s coming up, now is a great time to give back to your community. Check out my latest video message to learn more on why I feel it is so important to give back to others.
If you are looking for an opportunity to give back, don’t forget that Giving Tuesday is on December 1st this year. Need a great charity to support? Consider donating to Children’s National Hospital/Children’s Miracle Network Hospitals. We have a long standing relationship with our local Children’s Hospital and gladly support them as often as we can. We are excited to announce that we were able to raise $10,000 for them at our Charity Golf Outing back in September. We presented them with the check today!
In this motivational series, I’ll highlight how to become a Peak Performer. In today’s message I’m talking about the importance of E X P A N D I N G your comfort zone, not stepping out of it. Learn why this is so important to your success in my latest Peak Performer Series message.
Real estate continues to be the shining light in the current economic recovery. Buyer demand, housing prices, and new and existing home sales continue to be strong – not only in Northern Virginia but also across the country. Our issue continues to be low inventory levels for the demand that we are presently experiencing. As of today, we have 30% less inventory of homes for sale versus this same time last year. The median days a house stayed on the market in August was just six days, so as you can see, demand is there.
Additionally, prices are up year to date 7.95% over last year’s pricing. The pandemic pushed the housing market back about three months, so what would typically be a slower time of the year is one of our strongest. If you are considering selling, now is an ideal time as we couple all this data with the fact that we have the lowest interest rates in the history of tracking. Contact me to discuss your situation in more detail if you are considering selling.
So, where is the market headed into the future? There is talk of another foreclosure crisis that could lead us into a Great Recession… will this happen? There is a housing bubble, and prices are going to crash… will this happen? My answer is no to both. First, we have low inventory levels and high demand. In October 2006, we had just under 23,000 houses for sale; today, we have 3,014. If properties are foreclosed on by banks and released to the market, they would sell quickly and not put us into a housing crisis. Again, back then, we had a 10-month supply of houses, today we have a .8-month supply of houses – a considerable difference. Back then, people “walked away” from their homes because of price drops and lending practices; this is not going to happen now. Today’s loan products, loan qualifications, and lending guidelines are nowhere like what they were prior to the Great Recession.
Back then, we had exotic loan programs, 100% financing programs, teaser rate loan products, and just bad underwriting guidelines. Homeowners today are more financially stable, which will result in fewer foreclosures. If there is an area that may be in jeopardy, it would be in the Mom and Pop landlord arena. Basically, people who have one or two investment properties may not be able to “carry” the houses if their tenants are unemployed. This is a small segment, so I don’t see it significantly impacting our market.
Additionally, prices are rising, but not at the rate they were in 2004 – 22% year over year increases, 2005 – 24% price increase year over year and in 2006 it was 23%. As I mentioned, we are at a reasonable pace of 7.95% today; therefore, I do not foresee a crash in prices like we saw in the past. We will see a decline in housing price increases, but not a decline in prices… big difference. Our market is stable and will continue to be so for some time, in my opinion. If you would like to discuss this further, please feel free to call me.
Enjoy the weather! Have a safe and Happy Halloween!
In this motivational series, I’ll highlight how to become a Peak Performer. Mindset reminder – are you in a growth mindset or a fixed mindset? Learn why I feel this is important in my latest Peak Performer Series message.
In this motivational series, I’ll highlight how to become a Peak Performer. What are YOU doing to demonstrate your value? Are you doing videos, blogging, or sending emails? Learn why I feel this is important in my latest Peak Performer Series message.
In this motivational series, I’ll highlight how to become a Peak Performer. With all the recent changes in the world lately, how are you helping people solve problems? The people who solve the most problems, make the most money, and have the best relationships! Learn why I feel this is important in my latest Peak Performer Series message.