December Market Update & Newsletter

In the blink of an eye, this year is coming to a close.  It has been a true whirlwind, to say the least, regarding the real estate market, hasn’t it?  We had a furious pace of sales and activity at the beginning of the year with artificially low interest rates, escalating prices, and extremely high demand.  Now we will finish the year with interest rates that doubled over the last year (though they are coming back down), stabilizing prices, and less demand.  We are in a more balanced market, and it’s nothing like it was earlier in the year. This “slowdown” has the media going crazy and they continue to put out sensationalized headlines to grab your attention.  One topic we’ve all been reading about is the crash of housing prices.  While there are some areas that will see price declines, most will instead see a decline in price appreciation.  Areas across the country where prices skyrocketed (and are now seeing spiking inventory levels) will indeed see prices decline-and decline rapidly. These areas saw the most benefit from the pandemic and remote working environments, and that was not sustainable.  Overall, prices are up year-over-year, but we have been seeing prices decline month-over-month. Historically, price appreciation is 3.8% and the numbers far exceed those historical averages, even today.  These declines are slowing down.  Remember most of these articles and media reports relate to National housing data, not the more focused, and more relevant local housing data.   Check out my blog for detailed and insightful information about our region.

As a result of the year-over-year price increases, the Federal Housing Finance Agency (FHFA) recently announced the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023 will be increased to $726,200.  This is an increase of$79,000 over 2022.  In Northern Virginia we have a new loan limit for properties–that number is $1,089,300. These are crazy numbers indeed, but the numbers show that prices may have hit the bottom.  Price declines month-over-month have slowed, showing more realistic prices today than earlier this year.  Raising these ceilings is incongruous with any expected nationwide price crash.  In my opinion, the media is not telling the whole story. To get a much more accurate story about the current state and the future of our local housing market, please rely on me, your trusted real estate advisor.  Real estate is extremely local, so call me to learn more how this affects you if you are selling or buying a home today. Next month, we will debunk another media fallacy–so stay tuned! In the meantime, have a Merry Christmas and a great holiday season with family and friends!

It’s a good life.

Chris

5 SIMPLE HOME HOLIDAY DÉCOR IDEAS

Read the full article on blog.inspireq.com

It’s that time of year again! With everyone home for the holidays, there is no   better time for intimate gatherings with warm mugs of hot cocoa by the light of the fire. But sometimes, decorating our homes for the festivities may seem more daunting than our favorite holiday classics make it out to be. We have 5 simple holiday home decorating ideas to help you deck the halls!

Less is more: create a main focal point!

Of all our holiday home decorating ideas, creating a focal point is a great first step. You don’t need to decorate every surface to have a fun and festive space. In our family room, we used the fireplace as our focal point. Once you have  chosen a piece to anchor your space with, use small touches of holiday sparkle throughout the rest of the room.

All about the ambiance

Ambiance is what makes a holiday setting so heartwarming. You can easily achieve this through lighting! Fireplaces are great for this. If you don’t have a fireplace, candles work just as effectively. Hanging twinkle lights on and off the Christmas tree are another great alternative too! All of these are great ways to establish that warm and cozy vibe.

Bring out the heirlooms

For many, nothing brings the family together better than the holidays. The holidays are just as much about reflecting and building memories as they are about giving gifts. Don’t be afraid to fall back on your favorite childhood holiday traditions! Dust off the ornament collections, pull out the vintage eggnog glasses, and use Grandma’s famous Christmas cookie recipes!

Make it a winter wonderland

You can never go wrong with a natural aesthetic. That’s why it’s called a winter wonderland! Evergreen touches make lovely accents to a space, whether from a Christmas tree, a wreath, or even just some branches in a vase. Frosted glass is a cool and classy choice for décor as well. And you can always set your holiday décor by some windows for a natural winter scenery as your backdrop!

Get cozy!

Soft blankets and plush throw pillows are necessary in the colder months, but even more so when the holidays roll around! Some of our fondest memories are created while curled up on the couch in our pajamas under a warm blanket.

 

Recipe of the Month

Peppermint Bark

Total Time: 20 minutes

INGREDIENTS

  • 12 oz white chocolate, chopped
  • 12 oz semi-sweet chocolate, chopped
  • 1½ tsp peppermint extract, divided
  • 2 tsp canola oil, divided
  • 5 candy canes, crushed

DIRECTIONS

  • Prepare the pan you choose to use by lining it with a Silpat mat, parchment paper, or aluminum foil.
  • Melt your semi-sweet chocolate in a microwave-safe bowl with 1 tsp oil in 30-second bursts until melted, being careful not to overheat. Stir in ¾ tsp peppermint oil and spread evenly in your pan. Chill until firm, about 15 minutes.
  • Melt your white chocolate and 1 tsp oil in 30-second bursts until melted, being careful not to overheat. Stir in ¾ tsp peppermint oil. Spread evenly over the semi-sweet chocolate layer and top with crushed candy canes. Gently press the candy canes into the chocolate.
  • Chill until firm and cut into bars.

 

6 Checklist Items to Make a Home’s Interior Ready for Winter

Written by RE/MAX News

Have you checked the forecast? Winter is almost here – and some places have already received their first snowfall of the season! For homeowners in chillier climates, now’s the time to prepare for the challenges of winter weather. In addition to turning off outdoor waterlines and stocking up on shovels and sand, it’s important to get the interior of the home ready for frosty temps, too.

Consider these checklist items to help prepare the inside of your home to withstand the colder months – and run smoothly throughout them.

Stock the entryway with winter gear

If you live in an area that experiences the harsh weather of the season, it’s  officially time to remove summer items from the entryway and replace them with more insulated options. Store away warm weather shoes like sandals and bring out the boots and slippers. In bins or on hooks, find convenient space to store coats, mittens, and hats.

Invest in plastic or rubber shoe trays for each entrance to prevent dragging snow into the house. Some people even opt for a boot brush mat outside the door to wipe off shoes before stepping inside.

Make sure nothing is touching the heater

Redecorated recently? Whether the answer is yes or no, furniture can scooch around throughout the year with use. To prevent risk of damage or fire, make sure items like furniture, blankets, or drapes aren’t touching the heating system, including baseboards or a radiator.

The same awareness goes for candles. Lighting a candle is a great way to make a room feel cozy on a winter day, but be cautious when placing them throughout the house. Put them in exposed areas situated far from notoriously flammable items like drapes and curtains, holiday decorations, and more.

Switch out linens for warmer options

If your house runs cold, try swapping out lighter bedding for toastier options, including flannel sheets or a more insulated comforter. Also consider adding a few throw blankets in common seating areas to make evenings more comfortable.

Organize the garage for indoor parking

Home to yard supplies, sports equipment and outdoor recreation gear, the garage can get messy in the warmer months when people tend to park outdoors more frequently. Take time now to organize the garage, sweep the floor, and make room for a parked car. This could save you from the trouble of windshield scraping when overnight frosts and snowstorms arrive.

Reverse ceiling fans

Did you know the direction a ceiling fan’s blades spin determines whether it pulls air up or pushes air down? This little fact can help cut costs on energy bills throughout the year.

In the summer months, it’s best to have the fan run counterclockwise, blowing air down to create a cooling effect. And in the winter months, it’s best to have the fan run clockwise, redistributing hot air throughout the room. Figure out which way you currently have it running by turning off the fan, standing underneath (looking upward) and having someone else switch the fan back on. Pay attention to the first few revolutions. To change the direction of the blades, turn off the fan (wait for a complete stop!) and then flip the switch that is often found on either the motor housing or the base.

Clean up the fireplace

Whether you have a wood-burning or gas fireplace, make sure it’s in good shape prior to using it! For a gas fireplace, ensure you have a sufficient supply of propane and, while the fireplace is off, clean the vent and glass panel of any dust and buildup. For a wood-burning fireplace, have the chimney inspected by a professional chimney inspector and hire a professional chimney sweep. These annual services will help keep your fireplace in pristine condition and safe to use.