February Market Update

Will the Spring Market Arrive Sooner than Later?

What an interesting January we have experienced both weather-wise and in the real estate business. We have golfed and we have shoveled snow/ice this month.  We have had multiple contracts on some houses, and we have had houses sitting on the market (with no showings) for days and even weeks. We have had mild temperatures and we have had epically cold days. We have had 30 plus people at open houses on weekends and we have had no visitors at others.  We have windy days and days that had no breezes. We have seen mortgage interest rates go up and now they are at yearly lows. And, like the temperatures this week, we have seen inventory levels drop to 14-year lows. As I said, it was a very interesting January.

The biggest question we have in the real estate industry is… When will more houses come on the market for sale? Historically we have seen houses start go up for sale the second week of February. So, will this year be the same or will we continue along the same path we are on now…inventory levels going down? The answer is, time will tell.  In conversations with agents across our five offices, we are hearing about some houses will be “coming soon” but not a significant number of them. If you are considering selling, this could be your perfect time to do so.

What is odd to me, and others, is prices are not escalating like you might expect. The tried and true economic theory of supply and demand in regard to pricing does not apply in this market. We have a lack of supply and LOTS of demand, but prices are staying relatively flat and, in some situations, we are even seeing price reductions fairly regularly. Additionally, in several multiple contract situations, we have not seen escalation clauses or even full price offers. Going back to my original sentence, it was an interesting January.

All this being said, we can provide you with the right advice on how you should approach this “interesting” market. Whether you are selling or buying a home, each market and personal situation is different.  So, give me a call to learn more.

Happy Valentine’s Day!

home is where the heart is.jpg

 

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer.

In today’s Peak Performer Series message I’d like to talk to ask you about the Proximity Principle. Have you heard of this? The thought of this principle accounts for the tendency for individuals to form interpersonal relations with those who are close by. Who are you closest with? Are they a good influence? Where are you spending your time? Should you be going to these places? Are these factors contributing or detracting from your success?Learn more in my latest Motivational Minute message.

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 2/1/19

I’ve been talking about it for a while now…. the inventory levels are still at an epic low! Thinking of selling in the spring? Don’t wait ..learn more in Scott’s latest Market Minute Message. #remaxgateway #northernvirginia #realestate

Give me a call to talk about your unique situation 703-652-5777 or email me at scottmacdonald@remax.net

A Quick Minute of Motivation

In this motivational series, I’ll highlight how to become a Peak Performer.

In today’s Peak Performer Series message I’d like to talk to ask you about the Blame Game. A lot of times we hear people blaming others, the market, the conditions, etc., but really we should step back to take a look at ourselves. Are we taking responsibility for ourselves and or actions (or lack there of)? Learn more in my latest Motivational Minute message.

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

Now go sell something!

And don’t forget to subscribe to my blog at http://www.scottymacsblog.com​

Scott’s Market Minute 1/18/19

The temperature is dropping (again)… so is inventory (again). So how low will it go? Inventory is needed, now is the time to sell. Learn more in my latest Market Minute Message.

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

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 ask you a question – are you mentally tough? How do you handle adversity? Are you letting setbacks hold you back? Do you bounce back? Learn more about the importance of being mentally tough in my latest Motivational Minute message.

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

Now go sell something!

January Market Update

Happy New Year!

Happy New Year everyone!  “Wow” … that’s what I have to say about our current invent18_300720_q4 social_shares_new_yearory level of homes for sale. As many of you know, I have been tracking active inventory of resale homes since the first week of March 2005. At first it was monthly, now it is weekly as the market can be very dynamic. The reason I initially started this tracking routine back in March 2005 is because I had heard there were 148 contracts on a house in Arlington. We all thought there was little inventory available, so I ran numbers for Arlington, Fairfax, Loudoun, Prince William and Fauquier Counties, in addition to all the cities within those counties. My analysis concluded that there were only 1,652 houses for sale. With the high demand and unrestricted lending guidelines back in 2005, it is no wonder that we would see so many contracts on ONE individual property. What is even more interesting is by July 2005 there were 7,705 houses listed for sale – truly a rapid ascent, but what is really crazy is that number soared to 22,898 in November 2006. As we all recall, the market crashed in 2007.

So, why do I say “wow”?  Today our inventory level is at the second lowest number since I have been tracking them (March 2005) – only 2,713 homes are currently for sale. I don’t believe we are going to see the rapid ascent as we did in the past, as there is not the exuberance in the market place like there was in the early 2000’s. That being said, we need houses to sell! Buyers are out looking. We had multiple showings on both Christmas Day and New Year’s Day – there is a strong demand for housing. Interest rates are creeping lower, so buyers are looking to take advantage of this opportunity. If you are considering selling, now is a great time. Typically, we see inventory rise the second or third week of February. Let’s see how the market trends this year. Obviously, every situation is personal and different so if you are considering a move, call me to discuss how we can help you.

Wishing you and your family a very prosperous 2019!

 

A Quick Minute of Motivation

In this new motivational series, Scott will highlight how to become a Peak Performer.

In today’s Peak Performer Series message, Scott has an important question for you – How do YOU think about money? Does it stress you out? Is it a negative in your thoughts? Watch my quick video and see if you need to change your thinking when it comes to money.

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

Now go sell something!

Scott’s Market Update

It’s November and the housing inventory is dropping as quick as…. ???
Learn more in Scott’s latest Market Minute message. #marketminute#REMAX

Is it time for you to sell your home?  Maybe you are looking to buy, well now is a great time!  Give me a call at 703-652-5777 or email me at scottmacdonald@remax.net to talk about your situation.