Northern Virginia Real Estate, Housing Inventory and Snowmagedon 2016

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

Scott Market Minute 2016JAN22

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.

Scott MacDonald

RE/MAX Gateway

NFL Super Bowl Challange and a “No Deflate-Gate” in the Northern Virginia Real Estate Market!

Watch Scott’s Market Minute!

Low interest rates, low resale housing market inventory and great loan options.  If you are considering buying or selling real estate – contact me for a free consultation 703-652-5777 or scottmacdonald@remax.net

Will You accept Scott MacDonald’s NFL Challange?

How To THRIVE IN 2-0-1-5

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.THRIVE IN 2015

The sacrifices you will have to make will come in various areas. 

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

Scott MacDonald

RE/MAX Gateway

New Year Sparks Hope and Much Anticipated Home Sales As Early Spring Real Estate Market 2015 Approaches

The beginning of the year always brings about hope, excitement and anticipation of good things ahead and 2015 is no different.  We believe that this year will be a much better year for real estate in Northern Virginia.  There are many reasons for this optimism – great rates, new financing programs, lower inventory levels, positive consumer confidence and pent-up demand.

Let’s review each of these areas.HOPE SPARK IN 2015 REAL ESTATE MARKET

  • Great rates. Although there has been a very slight uptick in rates recently, rates remain very low historically.  Additionally, the interest rates will remain low through 2015 perhaps not reaching 5% until later in the year.
  • New financing programs. Freddie Mac and Fannie Mae have both begun to accept 3% down payments for first time home buyers.  There will be guidelines such as a minimum 620 credit score, borrowers will have to take an educational class, and they couldn’t have owned a home in the last 3 years to qualify.  With 45% of renters delaying a home purchase because of available funds for a down payment, this should increase the number of home buyers in 2015.
  • Lower inventory levels. In September of this year, we reached a 7 year high in inventory in Northern Virginia with 9,163 houses for sale.  Since that time, the number of available homes has declined each week.  We now have just 5,944 homes for sale which resulted in a brisk sales month for December.  Some of these properties will come back on the market this upcoming spring, but many sold.  As long as we have a moderate winter weather-wise, inventory will slowly enter the market and we won’t have the accelerated inventory levels we experienced in May of 2014 due to the weather.
  • Positive consumer confidence. Many more people today believe that the economy, their personal situation and the real estate market are all going to be better in the future.  These optimistic expectations are leading indicators to people purchasing in the upcoming months – including housing.  Additionally, Freddie Mac and builders also have high expectations of the housing market.  These expectations will have a positive impact on housing in 2015.
  • Pent up demand. As previously mentioned, December experienced a brisk sales month here locally.  We continue to receive calls, emails and internet requests on our homes for sale.   This shows us that there are many people ready to buy the right home that suits their personal lifestyle needs.  Also, many people who went through distressed sales just a few years ago are able to purchase again.  Job growth coupled with population growth locally will also increase demand for housing.

One other area to see home ownership grow in 2015 and beyond is the Millennial homebuyers.  They believe in home ownership as a wealth building opportunity and an overwhelming majority of them will be buying in the next 5 years.  Lastly, rising rental rates will push more people into ownership as a cost savings measure.

All of these positive influences in our region will strengthen our housing market in 2015 and beyond.  As we see our local economy continuing to rebound after 4 years of stagnant growth, this will have a positive impact on housing.  To see what this means to you, please feel free to contact me.

Cheers in the New Year!

Scott MacDonald

RE/MAX Gateway

Happy New Year 2015 _ ScottyMacsBlog Real Estate Market

 

Hey, Why Is It Taking So Long To Sell My Home? Theme Park: Northern Virginia Real Estate Market

July 2014 REAL ESTATE MARKET is like a carnival rideThe summertime real estate market is a lot like a theme park – ups and downs like a roller coaster with sales, activity and interest rates and a lot of unknowns like a haunted house.

There are a lot of questions around what is happening in the market from sellers and builders we are working with to sell their houses.

It is an interesting dynamic where we have extremely low interest rates – at or near 4% – and a high home affordability index yet sales are not as strong as we expect them to be considering this situation.

July 2014 REAL ESTATE MARKET for sellers is like a haunted house
What are the reasons for this?

One potential reason is price appreciation along with the multiple offers earlier this year. Many potential homebuyers naturally paused to wonder: is it a new bubble? Or can I afford these prices? But price appreciation has greatly moderated as we have seen inventory rise dramatically since the beginning of the year.

Therefore, potential homebuyers will no longer face the sticker shock and can now make rational decisions about whether or not it makes sense to buy a home.

Along with the increase in houses on the market, we will be creating new buyers as these homes sell. So demand will increase as more sales happen in many instances.

Another reason is the economy isn’t growing as quickly as was expected and consumer confidence is not extremely strong. Once buyers gain confidence in the economy, housing will follow suit and grow with the economy. Until then, we will see moderate house sales as well as price appreciation.

We also are still experiencing tight lending guidelines and underwriting policies on mortgages. It is still hard for many potential buyers to obtain loans. The “qualification pendulum” is still too far to one side and needs to be moderated to allow more buyers into the marketplace with sound lending practices.

So, in order to be a seller in today’s market, you need to be patient. Good houses, properly priced, in the right condition will sell. It will just take a little longer.

If you have any questions or concerns, please call me (703) 652-5777 so we can discuss your personal situation in more detail. We are here to help.
Happy 4th of July!

Scott MacDonald

RE/MAX Gateway

With No True Spring-Selling Market, What Will It Take To Sell Your Home in 2014?

Housing Inventory Increase

Wow, it is hard to believe that we are almost half way through 2014 and summer is just about to get into full swing.  It is going to be interesting to see how we get through the real estate market this summer as we had no true spring selling season.  At our June Quarterly Meeting, I announced our numbers were up so far this year but we were expecting to have helped more families buy and sell homes up to this point.  Of course the weather got in the way early on and now that school is about to get out, people will be taking their vacations.  So it is important for sellers to be prepared for the upcoming situation.

Our inventory levels have continued to escalate since the warm weather broke in May.  It has resulted in us having more homes for sale than any time since October on 2011.  As we enter the summertime, the season generally slows down which will increase inventory as well, so sellers need to do all they can to attract the buyers that are out looking for a new home.  Sellers need to position their properties accordingly, as there is currently a 2 month supply of houses on the market.  The inside and the outside of the house needs to shine and show like a model home, as well as be priced to sell!  We are not able to “push” prices like we did earlier this year. What it takes to sell your house in 2014The sellers who overprice their properties, even just above what we recommend, sit on the market.  Additionally, we are having appraisal issues with properties in areas where there are no sales to support the higher values – even in multiple contract situations in arm’s length transactions.  The underwriting guidelines have made it tougher to get above market values approved, so please price your house accordingly.

If you have any questions, concerns, or would like to discuss your specific situation or the market, feel free to call me today (703) 652-5777.

Scott MacDonald

RE/MAX Gateway

Hyper-local Northern Virginia Real Estate Market Has Sellers and Realtors Nervous

Watch Scott’s Market Minute on YouTube:   Hyper-local Northern Virginia Real Estate Market Has Sellers and Realtors Nervous

 

Inventory of houses for sale in Northern Virginia increased again this week.  A hyper-local real estate market can be a challenge for buyers, sellers, and their REALTOR.

Watch and listen as Scott MacDonald of RE/MAX Gateway offers the insight and explains strategies necessary for success in the Northern Virginia real estate market.

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

Scott MacDonald

RE/MAX Gateway

Video

No Need To Panic. Its Just Another New Normal For Northern Virginia Real Estate

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

Things Heat Up: Valentines Day and the Northern Virginia Real Estate Market

Thinking of buying or selling a home in Northern Virginia? Scott MacDonald of RE/MAX Gateway offers valuable information to home sellers, buyers, and REALTORS and what is driving the real estate housing market in his video blog Scott’s Market Minute.

If you are thinking of selling in 2014, now is the time to get the answers to your questions. Contact Scott MacDonald (703) 652-5777  There’s still time to get your home listed for sale in this early Spring market!

Buyers, the resale home inventory is very low and rates are beginning to climb, now is the time to buy a home! Email Scott for a free optimized homes for sale search engine or list. ScottMacDonald@remax.net or read more… https://scottymacsblog.com/

Scott MacDonald

RE/MAX Gateway

What’s HOT? The Washington Wizards and the Northern Virginia Real Estate Market!

Scott MacDonald of RE/MAX Gateway offers valuable information for home buyers, home sellers, and real estate agents on the Northern Virginia real estate market trends.

What is driving the real estate housing market? Watch Scott’s Market Minute.

Want to know how to increase your odds of multiple offers? Sellers are urged to price houses competitively and make repairs as recommended by an experienced REALTOR, as this will help to ensure the home shows well to prospective home buyers.  Contact Scott MacDonald (703) 652-5777  ScottMacDonald@remax.net

Now is a great time to list your home for sale!

Scott MacDonald

RE/MAX Gateway, LLC