Tag Archive for virginia real estate

A Guide to Winter Curb Appeal

If you’re listing your home in the winter, or if your home is still on the market during winter months, there is plenty that can be done to put yourself at an advantage. Curb appeal is not just a springtime activity!

United Country has a new article called “Amp Up Your Curb Appeal This Winter,” that lists a few simple things you can do to spruce up your home when it’s cold out, including improving your lighting and adding color around the place.

One interesting point the article makes is that winter can be an advantageous time to list because there’s not as much competition for buyers. Therefore, this winter or next, don’t hesitate to put your property on the market.

The Year Ahead Is Looking Good for Real Estate

People occasionally ask me what the Virginia real estate market is expected to do, or how it’s doing now. Often it’s because they are looking to list their home, but sometimes they are just curious.

The end of 2017 was particular good for the real estate market. A report in September showed that the majority of U.S. homes had recovered their value to pre-2007 levels. Many experts are predicting continued success in 2018.

Much of this has to do with a healthier economy.

“The economy is healthy overall and people have money again,” said Mike Duffy, president of United Country Real Estate. “There isn’t anything specific that will sink our economy so there’s no end in sight for the next year or two. Residential sales have really exploded. The challenge is the lack of supply. But interest rates remain low, so I think this will be another year of strength. It’s all a reflection of people having money, jobs and taking care of bad debt. Now, people want houses.”

Recreational land sales (land purchased for hunting and fishing, etc.) have also added to the recovery.

“We could see things boom even more in 2018 and I’m excited and enthusiastic about that,” said Duffy. “Our agents excelled in recreational land sales last year and I think that trend should continue. My guess is that vacation properties, or second homes, will also do well since people have the money.”

Click here for the full story from United Country.

Virginia Real Estate Update

People often ask me how the real estate market is from time to time, mainly to decide whether to list a home in Virginia or to decide when to buy a home. Some new figures show a very healthy real estate market in Virginia, along with some interesting stats for those in the market to list.

The Virginia Real Estate Indexes have dropped a little since the second quarter, though they are well above the historical average.

Inventory is at its lowest level in two years, which is good news for those about to list.

Home prices are higher than their historical average in most areas across the Commonwealth.

Click here for more from the Roanoke Star.

Want to list your home in Virginia? Contact me today.

Report: Northern Virginia Home Sales Increase

For Virginians waiting for the right time to sell their home, now is a good time to consider it. According to October numbers, days on the market were a low 32 to 44 days, while most homes received full asking price.

Those looking to buy might want to soon get active in the Virginia real estate market. Inventory levels decreased across most of northern Virginia last month. This low inventory is pushing prices higher.

Click here for more in this report. And feel free to contact me if you have any questions about listing your home or buying a new home,

MLS, CMA and Other Important Real Estate Terms

If you’re getting ready to buy real estate, or preparing to list your home for sale in Virginia, you’ll begin to hear terms like MLS, PITI and others, and it’s important to understand what they mean, especially as you begin to search for a Realtor to be the agent for your home sale.

United Country has some very helpful information on their web site, including this cheat sheet for real estate terms.

Once you get the hang of this terminology, you’ll be able to talk like a real estate pro.

Featured Listing: Unique Log Home with Acreage

Here’s a listing that’s just perfect for fall/winter homebuyers looking for a charming and comfortable home in the Virginia countryside.

With 5,000 sq. ft. of living space, I love the warm wood used throughout the house. The spacious kitchen with gas fireplace and the lodge-style sitting room with wood burning fireplace are two of my favorite features of the log home.

The master bedroom suite is on the ground floor and the room opens to the extensive deck located on the river side of the home. The upper level has two bedrooms and full bath. The lower level is very inviting for guests and family alike.

While you walk out on ground level from the lower basement area other features include an open floor plan from the kitchen, dining, and sitting room. A full bath, large pantry, cellar are also located in this space. A half bath is located in the front hallway on the ground floor.

The land is also a jewel having meadows, pastures, spring-fed pond, the small river Back Creek and at the far rear of the land is the forest which extends up Lantz Mountain. A roomy 2 car log garage has a workshop and storage upstairs w/a green house on the side. There is a large pole barn and yet another building on the property which houses the forced air furnace and a second outdoor wood furnace.

All in all this property has many sought after features and just as important is located in Virginia’s Little Switzerland, beautiful Highland County in the southern end of the Blue Grass Valley.

It’s an exceptional piece of Virginia real estate.

Virginia Home Sales, Prices Continue to Rise

A surge in Virginia’s home sales and prices has pushed sales volume up 20 percent to more than $13 billion in the second quarter of the year, according to a new report form the Virginia Realtors Association.

“Buyer motivation remains very high, and the relatively low financing rates offer great opportunity for market entry,” said Claire Forcier-Rowe, president of Virginia Realtors.

Most areas of Virginia saw an increase in numbers, including Northern Virginia at 5.1% and the Shenandoah at 3.3%. Central Virginia had the largest increases 8.2%.

If you’re looking to sell your home or Virginia horse farm, it’s a good time to start thinking about a fall listing. And if you’re looking to buy, it’s a good time to get into the market before the prices get too much higher.

Source:

http://www.insidenova.com/news/arlington/home-sales-prices-push-higher-in-virginia/article_134b2260-712e-11e7-b3f3-a38f545fc70d.html

Essential DIY Fixes for Your Home

For those looking to list in the fall, or if you listed in the spring and weren’t able to find a buyer, summer is a great time do a few little things to fix problems around your house. Either way, it makes you much happier to live in a home that works for you!

Some of these you won’t want to leave on for a listing (like the rubber band on the door) but the rest are good pointers (like the many uses of WD-40!)

The Virginia real estate market is expected to have a good remainder of the year, so this extra effort is worth it.

Read more here from Lighter Side of Real Estate.

Surviving the Summer Real Estate Season

Spring gets all the attention and hoopla in real estate, but summer can be just as hot. Northern Virginia real estate is always a good market, but it could be very active this year.

Inman has a new article directed at REALTORs offering advice on how to take advantage of this market. There are four big tips, and they are pretty smart, including leveraging technology and creating a relationship with a builder.

For the full article, click here: 4 tips for surviving the summer real estate market

Helping the Kids Buy a House

United Country Real Estate has been creating some good, useful content for real estate buyers and sellers. I’ve been sharing these articles lately on my Facebook page and the blog here.

Here’s an article for people out there whose children are ready to buy a house. There are a number of ways parents can help kids with this big purchase.

Parents helping their children invest in their first home is certainly not a new idea. We see a variety of choices being made in the marketplace. Some elect to co-sign on the mortgage with the children. It doesn’t cost Mom and Dad
any money, but it may help the children qualify for a loan. Others either give or lend money for the down payment.

A few even decide to put enough money to “buy down”
the mortgage interest rate, allowing for the rate to be
lower in the first few years, making it easier to qualify for the loan by lowering the monthly payment.

 

Read more from United Country.