Rising Prices Help You Build Your Family’s Wealth

Over the next five years, home prices are expected to appreciate, on average, by 3.6% per year and to grow by 18.2% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home this January. If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years? Since the experts predict that home prices will increase by 5.0% in 2018, the young homeowners will have gained
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Categories: Home Buying Tips, Northern Virginia Real Estate, Pearson Smith Realty, and realestatedc.

STAGING TO SELL!

Our client’s condo needed a little boost to give it a little pizazz but they were on a low budget. Using most of their existing furniture, we brought in art, accessories, bedding and a few pieces of our furniture to spruce it up. They were thrilled with the outcome and hope that this update will bring them a contract soon. Here are a few before and after pics.
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Categories: Pearson Smith Realty, realestatedc, Selling Your Home, and Staging to Sell.

7 Factors to Consider When Choosing a Home to Retire In

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement. According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home. 1. Affordability “It may be easy enough to purchase your home today but think long-term about your monthly costs. Account
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Categories: Downsizing, Northern Virginia Real Estate, Pearson Smith Realty, realestatedc, Selling Your Home, and Senior Downsizing.

Latest NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house. Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report. REALTORS® CONFIDENCE INDEX Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that homebuying demand continued
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Categories: Homeforsale, Northern Virginia Real Estate, Pearson Smith Realty, realestatedc, and Selling Your Home.

2 Ways To Get the Most Money From The Sale Of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of the seller trying to
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Categories: Homeforsale, Northern Virginia Real Estate, Pearson Smith Realty, realestatedc, Selling Your Home, and Senior Downsizing.

THE #1 REASON TO SELL NOW BEFORE SPRING

The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017: Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense. Bottom Line Buyers in the market during
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Categories: Downsizing, Homeforsale, Northern Virginia Real Estate, Pearson Smith Realty, and Selling Your Home.

LOW INVENTORY PUSHES HOME PRICES HIGHER.

According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation, “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited
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Categories: Home Buying Tips, Northern Virginia Real Estate, Pearson Smith Realty, and Selling Your Home.

Where Are Mortgage Interest Rates Headed in 2018?

  The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months. How Will This Impact Your Mortgage Payment? Depending on the amount of the loan that you secure, a half of
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Categories: Home Buying Tips, Northern Virginia Real Estate, and Pearson Smith Realty.

JUST SOLD!

Our beautiful listing in Oakton is now sold! We withdrew the listing in December so the sellers could enjoy and recover from the holidays and then we were going to go active again the end of February. Lo & behold a buyer appeared the end of January and fell in love with the house, so now we await settlement. We couldn’t be happier for both the seller & purchaser. It’s going to be a very active Spring market! If you are thinking of buying or selling we would love to help you through every step of the process. Feel free
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Categories: Northern Virginia Real Estate, Pearson Smith Realty, realestatedc, Selling Your Home, and Staging to Sell.