You may have noticed an uptick in construction and newly built homes. But it’s not just a trend we’re seeing here in Northern Virginia and the Eastern Panhandle. In fact, about one-third of single-family homes for sale today are newly constructed, a dramatic increase from pre-pandemic levels. Let’s dive into why new construction homes are dominating the market and what you should keep in mind if you’re thinking about buying one. The Rise of New […]
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Now, more than ever, having the right home insurance is essential. But with rates on the rise, how do you ensure you’re getting the best coverage without breaking the bank? Let’s explore the ins and outs of home insurance and uncover some strategies to secure the best deal for your home. Understanding the Rising Costs of Home Insurance Since 2019, home insurance rates have surged by 37.8% across the United States. Several factors contribute to […]
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Are climate risks part of your home search checklist? If not, you might be missing critical information that impacts your long-term investment. The Zillow Consumer Housing Trends Report 2024 shows that a growing number of buyers are considering factors like flooding, wildfires, and extreme temperatures when choosing where to buy. In fact, nearly three-quarters (73%) of buyers said climate risks affected their home search. Let’s dive into how climate change is influencing homebuyers in 2024 […]
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If you’re about to buy a home, you might think you’ve budgeted everything. But are you prepared for all the fees that come with closing? Nearly 91% of buyers in the Zillow Consumer Housing Trends Report 2024 said they encountered at least one unexpected cost during the closing process. Let’s break down these fees and help you avoid the same pitfalls so your closing day goes as smoothly as possible. 1. The Loan Origination Fee […]
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When it comes to selling your home, one of the biggest questions sellers have is: “Do open houses still work?” With so many digital tools available, from virtual tours to high-resolution photos, it might seem like open houses are a thing of the past. But in 2024, we’re seeing a comeback. If you’re thinking of selling your home, here’s why open houses might still be one of your best strategies—especially with buyer demand and seller […]
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Thinking about updating your home? You’re not alone. Over the past five years, 94% of homeowners completed a major renovation project. Whether it’s a fresh coat of paint or a full bathroom remodel, staying on top of the latest trends can help you make smart decisions that add value and enjoyment to your home. But here’s the catch—78% of those renovations came with budget overruns, and many also encountered unexpected delays and even regret. Today, […]
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For the first time since 2020, housing affordability improved year over year. This is largely due to a drop in mortgage rates, which have dipped from 7.07% to 6.09% over the past year. While this is undoubtedly great news for home buyers, affordability remains a challenge for many. According to recent data, U.S. buyers now need to earn around $115,000 annually to afford the typical home, down 1.4% from last year. Yet, the average U.S. […]
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No matter how many elections you’ve lived through, each one can feel a bit like a wildcard when November draws near and you’re wondering whether you should make a move—or wait until the dust settles. Generally speaking, presidential elections have only a small and temporary impact on the housing market. That said, it’s natural to be curious as to how an election could impact your decision to buy or sell a home this year. So, […]
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When it comes to long-term investments, Americans have a clear favorite: real estate. According to a recent Gallup poll, 36% of Americans believe real estate is the best long-term investment, outpacing stocks (22%), gold (18%), savings accounts (13%), bonds (4%) and cryptocurrencies (3%). Why is that the case? Let’s dive into why so many people believe that owning property is the ultimate way to build wealth over time. The Popularity of Real Estate as a […]
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By now, you’ve probably heard about the news: the Federal Reserve recently cut interest rates for the first time in four years. But what does that really mean for home buyers and sellers? You might be wondering how this impacts mortgage rates, home prices, or your ability to make a move in today’s market. Understanding these changes could be your key to making smart real estate decisions—so let’s break it down. A Closer Look at […]
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