Posts from September 2017

Good News!

Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. The chart below is showing what each entity is projecting in sales for the remainder of this year and the next. 

As we can see, each entity is projecting sizable increases in home sales next year. It looks like an optimistic market for 2018!

According to Nerd Wallet's Millennials & Homebuying Study, "The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home."

93% of millennials agree the top reason they choose to buy is to have control over their living space. Many millennials who rent a home or apartment prior to buying their own homes dream of the day that they will be able to paint the walls whatever color they'd like, or renovate an outdated part of their living space.

Millennials also realize they will have control of their future decisions by using their monthly housing cost as a savings account that can be borrowed against in the future.

This is the right house for us!

Many first home buyers wonder how they will know when they have found the right house, and that's perfectly normal! Here are a few preliminary things you should know about finding the right house.

• First, an ethical real estate agent will never, pressure you into buying a house.
• Second, you will instinctively know it when you see it.
• Third, you may want to sleep on the decision. Don't.

Forget the fact that you are not the only one looking at this house. Trust your instincts. 

Real estate professional of 40 years, Elizabeth Weintraub, cleverly draws from her experience the following signs that will clue you in!

10 Little Signs You Will Know You Have Found the Right House

• You Really Want to Go Inside the House
• The House Embraces You the Momen...

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RICHMOND, Va. (August 23, 2017) – According to the July 2017 Home Sales Report released by the  Virginia REALTORS®, there is no slackening in the residential real estate market. Year‐to‐date volume  (the sum of all sales) for the period January through July rose 9.7 percent over the same period in 2016,  from $22.411 billion to $24.593 billion. Year‐over‐year, transactions in the month of July contracted by  less than half of one percent, from 11,549 to 11,495. Inventory constraints continue to affect the  number of sales and also drive price upward, as eager buyers demand more than the current market  supplies.  

Claire Forcier‐Rowe, 2017 President of the Virginia REALTORS®, shares "Low rates and lasting consumer  confidence have propelled buyers into Virginia's market faster than sellers are committing to list their  properties. Withou...

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