We all know men and women who are nurses and Nurses "Day is Wednesday, May 6th, but let's take the time to thank the nurses we know, and don't know, ALL WEEK.
People are home and some are finding their current home isn't the one that is optimal. Perhaps they need a dedicated home office or two. Many realize they will be working from home more when the social distancing is over.
Some are realizing that interest rates under 4% give them tremendous buying power with lower monthly payments.
We have special showing procedures and virtual views and virtual open houses make it much easier than just "looking at pictures." Some of these are done live so it is possible to ask questions of the listing agent including, show me "what's behind that door" or "what does the back yard look like from the kitchen window?"
Home inspections still are done, although without being able to look over the inspector's shoulder. Many appraisals can be done without the appraiser needing to go inside. Settlements aren't all done at the table these days and in some cases even the notary services are done electronically.
All of that said, I can help you during these times if this is your opportunity to make the move. Or, if you want to have a selling or buying consultation virtually, we can talk using Zoom about your next steps months down the road. I am here to share information, insights and ideas.
Technology comes and goes as the perceived 'need" by real estate agents will buy into the marketers. And I will readily admit, many of these new shiny objects appear irresistable. Occasionally one of these shiny objects became tools in our quiver to help you. And that's my key point of this blog.
As Realtors we have access to tools like the Multiple Listing Service for accurate data, and despite the wonderful advertising sites out there that have listings, they make more money selling their services if they keep listings long after they have become UNavailble.
As agents we have to be familiar with neighborhoods before your call on us, or we need to take a crash course learning through conversations. As we socially distance, this may be less personal, be it 10' apart or virtually, or by phone and text. But the knowledge is beneficial and pays off for my clients. The two pictured tools above were around a decade ago, but are long gone. I'm still here for you. Reach out. 703-220-0406 https://David-Houghtaling.Weichert.com
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Here's a 3 Bedroom, 2 Full Bath Condominium with 1,307 SF of Living Space located very close to the Vienna/Fairfax GMU METRO stop. Included is a Garage Space and an Outdoor Space, a Deck, Granite Kitchen Counters, Stainless Steel Appliances all in an elevator building. Sound Good, Check it Out at: rebrand.ly/9yfr93y or Reach out to me by text, phone or email!
November 13th marked a time when 15 or so buyers gave up 90 minutes (over the dinner hour) to learn about some potentially free and great loan options. One type includes a down payment grant that never has to be paid back.
Another benefit of VHDA loans is the MCC 20% income tax credit that can be used annually by the buyer even on returns not itemized.
A third benefit is the VHDA loans can include FHA, Conventional, USDA and VA programs "under the umbrella."
We will host another seminar early in 2020, but if you cannot wait, reach out to me and lets get started so you're ready to buy sooner!
Agents from our Weichert Realtors office in Reston will be out in front of the South Lakes Safeway collecting non-perishable items. It will be Friday, evening, September 20th from 4-7 PM. Please look for us, stop and say hello, and add an item to our table and carts. You can find a list of especially appreciated items here.
According to the Joint Center for Housing Studies at Harvard University, the profile of 1st-time homebuyers has been changing. They studied the 2-decade period from 1997-2017 and had some conclusions. But first, I should mention that a little more than one third of the homes purchased last year were by 1st-time homebuyers.
Harvard's study found that 35% of the 1st-time homebuyers in 2017 had never been married compared with 20 years ago. Married 1st-time homebuyers dropped from 61% to a low of 46% in 2013 and rose again to 52% by 2017.
The average age of 1st-time homebuyers was 32 back 20 years ago and is now 34, so that is not mirroring the aforementioned data. A link to the study is at: CLICK
People have different life circumstances and in our area there are a lot of singles capable of buying a home and paying a mortgage who anticipate living here for at least the next 3-5 years. They would rather be paying their own mortgage than their landlord's and building wealth. If you are wondering if this is a good time to buy, let's talk. Certainly your buying power is terrific with the current interest rates!
Weichert Raised $200,000 for the American Cancer Society in August
Our office in Reston had our fundraising activities, principally one in conjunction with all of the Glory Days Grills where you dined out for a week and they contributed 10% of the guest checks.
In some offices there were silent auctions, other restaurant alliances, a big golf tournament in New Jersey, but the goal united us for an important cause. And we would like to thank our friends, clients and fellow Realtors for their support!
First-time homebuyers who would like to buy have more loan options when they have funds for down payments because lenders like to see "skin in the game." But what if you don't have it and because rental prices aren't cheap in Northern Virginia, how do you accumulate the down payment?
I may have a solution where you, your relatives and friends can shop their usual online stores through UpIt and the stores will rebate a percentage to your down payment fund.
And, what if you could put out there that you are working towards buying your first home so that parents, friends, relatives, gift givers could donate online to your fund?
Both can be done. There is no charge. You can start now and buy next summer (or anytime). CLICK here and then the green button to get started or reach out to me.
Reports from Fannie Mae and Freddie Mac show that more than half of the new mortgages created last year were for 1st time homebuyers. That's significant because it shows individual and family unit confidence that owning a home is financially possible and preferable to the other living arrangement options.
The market has been a so-called, sellers' market for some time and basically that means there are fewer good housing options than there are qualified buyers. But the lower interest rates have made buying power greater for more and more homes.
Changes in interest rates and inventory of homes is not expected to happen any time soon, but predicting the future is not my greatest ability. What I have seen is people buying and living in their homes, bought with a comfortable monthly mortgage, in a neighborhood that brings them pleasure, almost always is positive.
Renting for most is a temporary solution - a getting started stance. Getting started on a career, a relationship, or possibly a city. A substantial portion of one's wealth comes from their home, however so month-to-month paying down your mortgage combined with that usually gradual appreciation in home value, are important. Just as the person who puts a little into saving every pay period, putting it into your house matters.
Would you like to talk about your plan? Contact me. Buying a home doesn't have to be now and it won't be the last step in your plan, but for most, it will be on one of the landings in your staircase to wealth.