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Monday, April 25, 2016

Is Waiting to Buy or Sell a Good Idea?

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A question I am often asked by buyers and sellers is, “Should I wait until next year to buy or sell my home?” It’s a difficult question to answer, and if I knew the future, I’d be the first one to tell you exactly what to do. What I do know, however, is that there is a cost to waiting to buy a property.

We have no idea where interest rates are going to go, but we do know that right now they are the lowest they’ve been in a long time. We are currently on the back-end of an 8-year increase in home prices, but we’ve never seen a 9- or 10-year period of increases in history. At some point, the market is going to flatten out, and so are home prices. Another sign of an impending market slowdown is the fact that our average days on market is up. More units are being sold, but they are taking longer to sell.

If you’re thinking about buying, you’ve got to do so before rates go up and if you’ve been thinking about selling, now is the time to get your home on the market. Prices are going to flatten out and rates are going to go up. You want to be ahead of that curve. If you’re thinking about making a move, I would be happy to have a conversation with you where we can talk about the options you have right now, and why they are only going to get worse in the future. Just give me a call or send me an email. I look forward to hearing from you!

Tuesday, March 22, 2016

Why You Should Own, Not Rent

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Today, we’ll address why it’s better to own rather than rent in Northern Virginia.

The reality is, you have to live somewhere. You’re either submitting a monthly payment to a landlord or paying off a mortgage every month. It’s far better to pay off your own mortgage than someone else’s!

A mortgage allows a tax deduction, and that savings is huge for you! Whenever I help a first-time home buyer, they’re always shocked and delighted to see the tax savings by deducting mortgage interest. It’s incredibly rewarding.

Additionally, owning a home is a kind of forced savings. Since you have to either pay a mortgage or rent, a mortgage invests in interest and your principal.

If you’re thinking about buying or selling a home in the surrounding area, reach out by phone or email! I'm delighted to serve your real estate needs and answer any questions you might have.

Monday, March 7, 2016

The Latest News on Interest Rates for Northern Virginia

Selling your home? Get a free home value report

Surprisingly, interest rates are still historically low. Many economic experts predicted interest rates would increase steadily through 2016. However, due to the combination of volatile economic reports and our falling stock market, we’ve actually seen interest rates decline.

No one really knows what will happen next. What we do know is that rates are the lowest they have been since April of 2015. Many of the experts in the industry still expect interest rates will rise throughout 2016, but nobody knows for sure. Not the National Association of Realtors, nor Fannie Mae, nor Freddie Mac.

What you need to know is that rates are incredibly low. Read more about it in this article here. If you’ve been thinking about buying or selling, now is the time to take action. If you have any questions, give me a call or send me an email. I would be happy to help you!