September Market Update & Newsletter

As we step into the beginning of fall with cooler temperatures and apple-picking season in full swing, the Northern Virginia real estate market is also experiencing some noticeable changes. While mortgage rates have dipped by nearly 1% since June, this hasn’t yet brought a rush of eager buyers back into the market as many initially expected. I think that reflected 1st level thinking. Instead, we’re noticing a trend: homes that once sparked bidding wars are now sitting on the market a bit longer, prompting sellers to reconsider their pricing strategies and expectations. To set the right price, it’s important to closely watch local trends — such as the number of competing properties, recent foot traffic, and how long homes are staying on the market.

One reason for the slower pace is the uncertainty around the upcoming election. As we enter an election year, many potential buyers are taking a “wait-and-see” approach. But I believe that the larger explanation is that many people’s economic situations are more tenuous than what is being reported. For example, the Biden administration just revised down the number of jobs created in the last year by over 810,000!

That is not just a statistic. Those 810,000 people know they didn’t get a job. And credit card debt, despite carrying interest rates in the high 20’s on average, sits at the highest levels in US history. Not to mention what 3 years of inflation has done to people’s budgets. Now, there are still loads of would-be buyers out there, but it looks like the 1% drop in rates is not enough to overcome some of these headwinds and spur action. I’m guessing that we’re still another 1% drop in rates from dramatically moving the needle on both the buying and selling side.

Additionally, there is some confusion around buyer agent compensation due to some recent commission lawsuits. Many buyers mistakenly think they need to cover down payments, closing costs, and their agent’s fees, which is rarely the case. There’s also a belief that mortgage rates might drop further in the months ahead. Waiting too long to buy, however, could mean facing higher prices if demand increases against our current low inventory. This can be a mistake as the math clearly says to buy now since prices are continuing to rise and refi when the rates come down. For sellers, this evolving market means that adjusting your strategy is key. This market is shifting almost weekly folks. With multiple contracts becoming less common, proper pricing, timing, staging, and marketing are essential to making your home stand out. Overpricing in this market can result in a longer time on the market and missed opportunities. If you’re thinking about selling, call me to learn how we’re helping our clients and our sellers maximize their pricing and time on the market. While the market is showing signs of a slight slowdown, there are still opportunities for strategic sellers who stay informed and adaptable. The coming months will reveal more as we see how the election, the economy, employment trends, mortgage rates, and consumer confidence shape our real estate landscape. Stay tuned for more updates, and enjoy the beginning of this beautiful fall season!

Coffee Shop Ambiance: How to Bring the Cozy Cafe Feel to Your Own Home

Who’s ready for a PSL? (pumpkin spice latte, that is). For many, fall is the time to switch from iced beverages to their toasty warm counterparts. While a local café offers an undeniable charm, with a few smart adjustments, you can recreate that inviting atmosphere right in your home. If a steaming cup of coffee (or tea!) is your morning fuel, these tips can help you design the ultimate beverage nook and bring a touch of autumn coziness to your space:

1) Transform an Alcove

Use a small nook or alcove to set up your coffee station. Install floating shelves to hold your coffee maker, mugs, and syrups, keeping everything organized and accessible. A nearby table adds a cozy spot to relax, sip, and enjoy your morning routine.

2) Use Your Pantry of Cabinets

For a discreet setup, dedicate part of your pantry or kitchen cabinets to coffee supplies. Add pull-out shelves to keep things tidy. This approach is ideal for small spaces and keeps your station functional and seamlessly integrated.

3) Repurpose a Bar Cart

A bar cart offers a flexible coffee nook that can be moved around. Style it with stirring sticks, to-go cups, and jars for sugar and spices. Hang some art above it to define the space and add a personal touch.

4) Make a Bold Statement with an Accent Wall or Colored Tile

Add personality to your coffee nook with an accent wall, colored tiles, or marble details. Choose a look that matches your style – from earthy sage green for matcha lovers to textured wallpaper for classic coffee drinkers.

Create a space that inspires you to enjoy your favorite beverages at home, whether it’s a morning coffee ritual or an afternoon tea break. By adding a few thoughtful touches, you can turn any corner into a warm, inviting nook that brings joy throughout the fall season and beyond. Ready to find a home that fits your style? Reach out, and let’s make it happen!

Recipe of the Month | Easy Apple Pie

By LittleSpoonFarm.com

Prep time 1 hr – Cook time 1 hr

Serves 8

This apple pie recipe is hands down one of my absolute favorite, completely made from scratch! Crisp apple slices are coated in sugar and spices, then baked to perfection inside a flaky homemade pie crust. You don’t have to worry about mushy apples or a soggy crust – this pie comes out perfectly every time. Whether you’re hosting a holiday gathering or just craving the taste of cinnamon and apples, this recipe is the one you’ve been searching for!

INGREDIENTS

• 2 (9″) pie crusts
• 7 large Granny Smith apples (peeled, cored and sliced into ½ inch slices)
• ½ cup granulated sugar
• ½ cup light brown sugar (loosely packed)
• 2 tablespoons all-purpose flour
• 1 teaspoon ground cinnamon
• ⅛ teaspoon ground nutmeg
• 1 tablespoon lemon juice (plus the zest of half of a lemon)
• 1 large egg (lightly beaten in a small bowl for egg wash)
• 2 tablespoons sanding sugar (optional)

INSTRUCTIONS

• Start by preparing this flaky pie crust recipe which makes 2 (9″) pie crusts, one for the bottom and one for the top of the pie. The pie dough will need to chill for at least 1 hour before rolling out. Or use a store-bought pie crust and follow package directions.
• Place oven rack in the center position and Preheat the oven to 400°F (204°C).
• In a large bowl, combine the sliced apples, granulated sugar, light brown sugar, flour, cinnamon, nutmeg, and lemon juice and lemon zest; toss to coat evenly.
• Remove the pie crust dough from the fridge and let rest at room temperature for 5-10 minutes. On a lightly floured surface, roll one disc into a 12″ circle that is ⅛” thick. Carefully lay the crust into the bottom of a deep dish pie plate.
• Spoon the apple filling over the bottom crust and discard juices at the bottom of the bowl. Roll out the second disc of pie crust until it is ⅛” thick and lay it over the apple filling.
• Use a sharp knife to trim the dough along the outside edge of the pie plate. Lift the edges where the two pie crust meet, gently press to seal and fold them under. Rotate the pie plate and repeat this process until edges are neatly tucked under themselves. Cut 4 slits in the top of the dough to allow steam to vent. Place the pie on a baking sheet.
• Brush the surface of the pie crust with the egg wash and sprinkle with sanding sugar. Cover the edges with a pie shield or a strip of foil to keep them from over browning during the first 25 minutes.

Monthly Home Maintenance Tips

• Check Your Heating System: It’s a good time to schedule a maintenance check for your heating system. Make sure it’s working efficiently and replace filters if necessary.
• Inspect and Clean Gutters: Falling leaves can quickly clog gutters. Clean them out to prevent water damage to your roof and foundation. Check for any loose/damaged gutters that need repair.
• Trim Trees and Shrubs: Overgrown branches can cause damage during storms or high winds. Trim trees or shrubs that are too close to your home to prevent potential problems.
• Seal Gaps and Cracks: Inspect your windows, doors, and any other areas where cold air might seep in. Use caulk or weatherstripping to seal gaps and cracks, improving your home’s energy efficiency.