The Spring Market Has Arrived!
Despite limited inventory and frigid weather in the area, we’re helped 5 clients with their settlements in January 2019, and already a few in February too! We’re excited for a strong start to the year and we’re excited to help more with their Real Estate needs. Our goal is to reach 100 transactions this year, so if you know anyone thinking of buying or selling, please think of us!
As we typically see in January and February, multiple offers are commonplace because sellers are waiting for “Spring,” but buyers are out ready to write offers! We expect appropriately priced properties to move quickly throughout the rest of February and into March when inventory finally starts to slowly inch up. BUYERS: NOW is the time to get your pre-approval lined up and start exploring the market so you can hit the ground running when the inventory starts popping up — call us, and register for our free webinar via the link below.
We received a lot of questions about the previous government shutdown and its impact on the market, and Amazon’s decision to pull out of New York as its second HQ2 location. Fortunately, we did not see much of an impact with our clients and our current listings as a result of the shutdown–none of our settlements were delayed, and buyers were still excited to continue their home searches. We did see a slight increase in buyer activity in the Fall after the news was announced, but activity has returned to normal in anticipation of local hires and discussions of Metro and transit improvements as part of the Amazon deal. Amazon has confirmed that they are moving forward with the Arlington portion of their HQ2 build-out, and they are currently looking to “organically” grow the 25,000 jobs that were planned in NYC, rather than name a new location. Time will tell if our area ends up with more than our originally planned 25,000, but it makes sense that if things go well over the next few years, that we might see more job creation here than originally planned since Crystal City has the commercial space capacity, and our region can handle such a big influx of jobs. We’re not surprised that Amazon wouldn’t want to announce that in advance though, given the activist reaction in NYC.
Have you been considering selling your home? There is a lack of inventory right now, and buyers are actively looking for a property in your neighborhood. While there is limited inventory, buyers are looking for certain items and will pay more for renovated homes with specific updates. Contact us today for a FREE Home Valuation, and to learn what buyers are looking for your home! Special incentives for those who book an appointment with us before the end of the month!
Taxes & Tax Law Changes
All of our clients that bought or sold a home in 2018 should have received a copy of their Closing Statement via email. If you are unable to find yours, please let us know! Don’t forget that new tax brackets and tax rates were passed late last year, and there are a host of changes, especially for homeowners. Consult your tax adviser for details.
Rates have recently dropped this past week to the lowest in a year! Now that the Fed has backed down from their hints of rising rates throughout 2019, we should see steady state for awhile.
30-Year Fixed 4.37%
30-Year Fixed VA 4.125%
15-Year Fixed 3.625%
FREE Home Buyer Webinar
Are you interested in buying, but don’t have 10-20% for a down payment? We have options and advice to help you! There are programs available to buyers that require less than 5% down, you can finance PMI payments and help you achieve owning your own place. There are also lenders and programs for as little as 0-3%, and down payment assistance options that we can discuss too!
We’re hosting a free Home Buyer webinar on Wednesday, Feb 27 which will include an Amazon update, tax law update, and other factors to consider when buying a home. Click here to register.
Finally, keep an eye out for invitations to some of our client appreciation events! We’re planning a Final Four Basketball party, and will also be hosting a Free Car Wash Day at a local car wash TBD, and our Spring Picnic at a Winery in May (weather dependent). We hope to see you throughout the Spring season!
Thinking about selling your home in 2019, or know someone who is? Meet with us by the end of February and you’ll receive Commission incentives, a FREE HOME VALUATION and a FREE HOME CLEANING (up to $350) when you list with us. Contact Katie to schedule your appointment!
HOME CARE CORNER
Winter is in full swing! With the snow we’ve been receiving make sure your gutters are clear prior to storms and melted snow/rain is able to drain away from your home. Also, take a quick visual inspection of your roof (and peek up into your attic if you have one) to help catch any early leaks and avoid larger repair costs. Here’s a tip if you see a water stain in your attic–take a sharpie or pencil and outline the spot…then check it again after another rain or snow to see if it has spread outside the outline to tell if it’s an active leak or an older stain.
LOANER PROGRAM ITEM OF THE MONTH: CHAFING DISHES
Hosting a party on a cold winter’s night? Or perhaps a Sunday brunch? Borrow one or more of our chafing dishes (both sterno and electric available) or warming trays to help make serving your guests a breeze! Large coffee urn also together
Have something you’d like to see us add to our collection of client items available to borrow? Just email us!
We’re happy to help with all your residential and commercial real estate needs throughout the DC metro area. Remember to Like us on Facebook
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We have a nationwide network of quality agents–let us know if you or someone you know needs a referral to another city.