{"id":3350,"date":"2023-03-26T15:13:14","date_gmt":"2023-03-26T19:13:14","guid":{"rendered":"https:\/\/dominicksellshomes.com\/?p=3350"},"modified":"2023-03-26T15:16:58","modified_gmt":"2023-03-26T19:16:58","slug":"march-newsletter-6","status":"publish","type":"post","link":"https:\/\/dominicksellshomes.com\/2023\/03\/26\/march-newsletter-6\/","title":{"rendered":"March Newsletter"},"content":{"rendered":"

March Market Update & Newsletter<\/h1>\n

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And you thought roller coasters were only at amusement parks, right?\u00a0 Well, it seems that they\u2019re present in the real estate market as well.\u00a0 In February we saw rates go from the high 5’s to the high 6’s in less than 10 days, and now they are just over 7%.\u00a0 In January buyers came out in full force, and guess what?\u00a0 They\u2019re still getting into the market as we head into March and the traditional spring market.\u00a0\u00a0Inventory continues to be the biggest adversary today; we only had 180 houses come on the market in the 4th week of February, which is well below the last 5-year average of 675.\u00a0 It was only 251 on the first Friday in March, while in the previous 5 years, we averaged 800.\u00a0\u00a0We continue to see around 1,200 active homes for sale in the Northern Virginia market, which is 65% below 2018\u2019s numbers and 45% below 2019\u2019s numbers (pre-pandemic data is a better reference point).\u00a0 I believe if we had more homes for sale, we would have more sales.\u00a0 \u00a0There is a lot of anecdotal evidence out there about the vibrancy of the market.\u00a0 Showings, attendance at open houses, and some multiple contract situations speak to that.\u00a0 At the same time around 30% of listings have taken price reductions so pricing, promotion and condition continue to matter.\u00a0 This is all happening even though rates have crept back up.\u00a0 In the third and fourth quarters of last year, when rates were approaching 7%, buyers were hibernating.\u00a0 I think they feel this is the new norm and now is the time to step up and buy.\u00a0 Because inventory is so low and we have multiple offers in some instances, prices will not crash, as many are predicting.\u00a0 It\u2019s a simple economic equation of supply and demand\u2013low supply, high demand, high prices.\u00a0\u00a0In summary, don\u2019t listen to reports in the media.\u00a0 If you want real information on the Northern Virginia real estate market, rely on me.\u00a0\u00a0As always, if you are looking to sell or buy, I can give you the right advice to make the best decisions.<\/p>\n

It’s a good life.<\/p>\n

Chris<\/p>\n

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4 WAYS TO FALL IN LOVE WITH YOUR HOME ALL OVER AGAIN<\/h2>\n

Read the full article on news.remax.com<\/em><\/p>\n

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Home sweet home. It’s the place that greets you after a hard day at work \u2013 or in your home office. The place where you relax, laugh, celebrate, eat, drink, and do the things you want to do. What’s not to love about a place like that? Many buyers find love in their home search \u2013 “I love this kitchen!” “The dogs would love this backyard!” “I’d love to spend Friday nights on this porch!” \u2013 and even in the idea of moving on (“We’d love to have more space than our cramped apartment”).<\/p>\n

Home is where families and friends share love for one another, and where everyone loves the dog (How can you not? “Who’s a good boy?”). And what makes this love affair with home even more rewarding and long-lasting? Homeownership! Here are four reasons to love a home you own.<\/p>\n

1. It provides shelter \u2013 and comfort<\/u><\/p>\n

A long day or a trip away reinforces the idea that there\u2019s no place like home. Not only does a home provide shelter by way of a roof overhead, but it also acts as a template for recharging. From lounging in a favorite recliner chair to snagging the best spot on the couch to gathering around the kitchen table for memorable conversations, a home you own is a sanctuary of comfort.<\/p>\n

2. It helps generate equity<\/u><\/p>\n

For many, homeownership is a significant way to build wealth that can span across generations. Equity is built by paying down a mortgage, plus completing regular maintenance, making necessary repairs, and even renovating the home over time. By paying your mortgage rather than a landlord’s, you add to your financial wellbeing.<\/p>\n

3. It allows room for personalization<\/u><\/p>\n

Renting a home comes with strings attached \u2013 many of which involve following regulations with paint color, nails to hang art, landscaping, d\u00e9cor, and more. When you own your home, the opportunity to customize the place is virtually limitless.<\/p>\n

Best of all, the style of your home can evolve over time. Knowing you have the freedom to shake things up at any moment means your home can grow alongside you and your family. Additionally, many dog owners know the difficulties of trying to rent a property with a pet. When you own your home \u2013 short of some condo stipulations \u2013 Fido is welcome, too. And if your home has outdoor space, you can help make it as pet-friendly as possible.<\/p>\n

4. It\u2019s the backdrop for lifelong memories<\/u><\/p>\n

In recent years, more of life happens at home. Across time, a house continues to be the center for gathering with friends and family, celebrating holidays, hosting neighbors, cooking meals indoors, enjoying sunshine outdoors, and so many other things you love to do. Many people appreciate their home for its convenient location, proximity to family, nearby entertainment, and the surrounding community. When homeowners look back on the purchase of their house, they often fondly reflect on the memories that have since made it into a home.<\/p>\n

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Recipe of the Month\"\"<\/a><\/h2>\n

Irish Soda Bread<\/h2>\n

Total Time: 1 hour & 25 Min<\/i><\/p>\n

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INGREDIENTS<\/b><\/p>\n