May Newsletter

By |2021-05-07T17:47:31-04:00May 7th, 2021|

Market Update The real estate market reminds me of the great Bill Murray movie Groundhog Day. It seems like every month I am conveying the same story. Housing inventory levels are still low, we continue to have multiple offer situations, interest rates continue to stay modest, and prices are rising. Sorry, but that’s [...]

April Newsletter

By |2021-04-16T14:24:13-04:00April 16th, 2021|

Market Update The Northern Virginia real estate market continues to amaze me. Inventory levels remain extremely low, demand remains extraordinarily high, and this is still occurring even though rates have increased slightly over the last few weeks. I do not believe this will change or slow down any time in the near future. The [...]

The REAL Market Update

By |2021-03-31T15:05:21-04:00March 31st, 2021|

Spring has Sprung! I can't believe I've already had to mow my lawn twice.  Just as my grass has been growing so has buyer activity in the market.   Contracts last week are up 23% from last year which was really about the last week of the normal market before the COVID induced market [...]

Market Update

By |2021-03-19T12:54:47-04:00March 19th, 2021|

Despite the incredible inventory shortages there are still some people overpricing homes and having to take price reductions, and usually having to sell for less than they would have if they had priced properly to begin with.  Why?  Market perception and the competitive mindset.  Buyers used to bidding against 10 other people who see a [...]

March Newsletter

By |2021-03-11T11:53:48-05:00March 11th, 2021|

March Newsletter It's hard to believe that one year has passed since our world changed with the pandemic. There have been so many changes in our daily routines, the way we interact with each other, how we conduct business, and so much more. The hardest part for many of us was that we [...]

Market Update

By |2021-02-26T15:31:27-05:00February 26th, 2021|

New Home Prices Going Through The Roof! This week let's talk a little bit about the new home sector.  Home price appreciation in the new construction sector has risen quite a bit more than the resale market for a number of reasons. One is that buyers tired of losing out on resale homes are OK [...]

The Non Existent Housing Bubble

By |2021-02-19T15:53:43-05:00February 19th, 2021|

The Non Existent Housing Bubble As the market gets more and more crazy I'm hearing more questions and concerns about a market bubble.  I've addressed facets related to this in previous posts but let me take those concerns on in a comprehensive fashion right now.  In the Northern Virginia region a bubble is [...]

February Newsletter

By |2021-02-16T15:27:12-05:00February 16th, 2021|

Market Update Again, I have said it before, and I will repeat it, inventory levels on homes for sale in Northern Virginia are critically low! We currently have just 1,701 homes for sale in all of the counties we serve in Northern Virginia. The amazing fact is the number of condos that are currently [...]

Time to Move Out of the Basement!

By |2021-02-10T16:56:44-05:00February 10th, 2021|

Time to move out of the basement! Kicking off this week's post with a fascinating study I recently read.  It seems that 52% of young adults are still living with their parents, which is a 110 year high!  Surely the pandemic is impacting this section of the housing sector as it is all [...]

The name of the game is: More Bidding Wars!

By |2021-02-04T14:09:00-05:00February 4th, 2021|

The name of the game is: More Bidding Wars! Well we have a month's worth of new data and the message is: A strong sellers market driven by limited inventory that I've been reporting on for a long while has reached DEFCON 1.  On Friday we ran the numbers and we were down [...]

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