Northern Virginia Real Estate Market Update

With the real estate market of Northern Virginia becoming more active every day, there is a constant surge of property in demand. If you're a prospective buyer, CLICK HERE for a Full Home Search, or if you're interested in placing your property on the market, click here obtain a Free Home Value Report. For any other questions about current market conditions or the value of your property, contact me at (703) 909-3939.

 

We were doing a bit of market research lately and found some information you might find helpful.

The expert analysts over at Keeping Current Matters have filed their report for the Fall of 2015, and as you probably already know things are looking up in real estate.

According to numbers gathered by the Federal Housing Finance Agency (FHFA), home prices have risen in every region since this time last year.

The FHFA report shows that every state is appreciating at a different rate. While some states are experiencing more rapid appreciation than others, there is a very good chance your home has gone up in value regardless of where you live.

The above map is just a general overview of home appreciation by state. To get a more specific idea of how much your home has appreciated, we recommend using our free home evaluation tool.

You might be surprised by how much your home is really worth. Simply follow the link:

AlexandriaHouseValues.com

This broad home appreciation is indicative of a recovering market. As home prices recover, and even rise above their pre-recession levels, the market will begin to normalize.

According to the Home Price Expectation Survey, by the end of this year, values will have appreciated by 4.1%. Next year, prices are expected to rise 3.7% before flattening to just over 3% from 2017 to 2019.

This expected slowdown in home appreciation is the result of a normal, healthy market.

As a homeowner, now is a great time to cash in on the equity you’ve built in recent years. With interest rates as low as they are, there is no better time to sell your current home for top dollar and lock in an incredibly low rate on your new one.

Obviously, whether you’re ready to sell is ultimately up to you. We just wanted to let you know how favorable the market is for sellers right now.

If you’ve been waiting for ideal market conditions to sell, it won’t get much better than this.

Again, if you’re simply curious about how much your home’s value has increased in recent years, don’t hesitate to use our free home evaluation tool: 

AlexandriaHouseValues.com

If you’re really serious about taking advantage of these great market conditions, and want to begin the home search now, we’ve got you covered as well:  

http://www.homesearchwebsite.com/search/advanced_search/

Or, if you’re unsure about what to do and would like more information about the Northern Virginia market, give me a call or shoot me an email! It’s my job to keep you in the loop with what’s going on in our area, and I would love to hear from you!

We hope you found this information helpful!

Don't Let Your Home Get Damaged this Winter!

With the real estate market of Northern Virginia becoming more active every day, there is a constant surge of property in demand. If you're a prospective buyer, CLICK HERE for a Full Home Search, or if you're interested in placing your property on the market, obtain a Free Home Value Report RIGHT HERE. For any other questions about current market conditions or the value of your property, contact me at (703) 909-3939.

Today, we want to discuss how you can get your home in top condition during the winter months. We've compiled this short list to help you avoid costly damages this season:

• Get your head in the gutter! Make sure there aren't any leaves clogging your gutters and downspouts. 
• Button up your overcoat! Seal cracks around windows and doors with weather stripping and caulk. 
• Get on-top-of-the-roof problems! Inspect your roof for damaged shingles and leaky vents. 
• Walk the walks and drives! Take steps to repair damaged sidewalks, driveways, and steps. 
• Chill out! Drain and winterize outdoor faucets and irrigation systems. 
• Freshen your filter! Clean and replace dirty furnace filters. Have a professional inspect your system while you're at it. 
• Gather round the hearth! Check fireplaces for soot or buildup. Better yet, schedule a visit from a reputable chimney sweep.  
• Keep the humidifier humming! Clean the plates and pads to ensure efficient operation. 
• Head off gas problems! If you have a gas-fired room heater, have it inspected by a professional.  
• Keep the wood fire burning brightly! Wood stoves are making a comeback. To avoid a dangerous situation, be sure to inspect yours before firing it up. 
• Keep your family safe this winter! A home safety check should be an annual ritual in every household. Check smoke and CO2 detectors, fire extinguishers, and review fire escape plans.

These are just a few of the things you can do to protect your home and make sure everything goes smoothly during the winter months. Since you still have time to prepare your home before the cold weather really sets in, we want to share some energy saving ideas as well. Caulking around windows and doors is easy, and will keep cold air out and warm air in. 

Although newer homes may not require caulking, all homeowners should be checking their weather stripping and door sweeps. Install ceiling fans to help push warm air down and circulate it throughout the home. Using a hot-water-heated blanket, checking attic insulation, replacing windows, and having an energy audit done can all save you big money down the road.

If you have any questions about getting your home ready for the winter season, please give us a call. We would love to help you out!

Can You Refinance When Switching Careers?

With the real estate market of Northern Virginia becoming more active every day, there is a constant surge of property in demand. If you're a prospective buyer, CLICK HERE for a Full Home Search, or if you're interested in placing your property on the market, obtain a Free Home Value Report RIGHT HERE. For any other questions about current market conditions or the value of your property, contact me at (703) 909-3939.

As you've probably heard, Ben Bernanke was recently denied financing when he tried to secure a new mortgage. Why was this? Well, now that he has retired from the Federal Reserve, he doesn't necessarily have a clear source of income. He plans to be a speaker and author, but since he hasn't yet established himself in that field, he was denied.

Because he was shifting careers, lenders determined that he didn't have enough job security for him to qualify for a loan. These standards apply to everyone, so switching jobs while trying to acquire financing can be risky. Hopefully these standards will be loosened up soon to help home buyers in a similar position.

If you are thinking of buying a home and changing job fields at the same time, we highly recommend you reach out to us. We can run everything by our lender and see what your options are - sometimes you have to wait a while to buy a home when you switch job fields. The bank often wants to see that you're secure in your new field before lending to you. 

If you have questions about this or any other real estate topic, don't hesitate to give us a call or shoot us an email. We would love to give you a hand!