For the first time in over three years, existing home sales increased year over year, reaching a seasonally adjusted annual rate of 3.96 million in October. So, what exactly does this mean? So glad you asked! Even though 2024 is shaping up to have the fewest home sales on record, the rise in sales this October could be a sign that the housing market is starting to recover. After a long stretch of slowing home […]
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A recent study by Fannie Mae revealed a surprising lack of confidence among consumers about the mortgage process. There’s good reason to feel a little cautious. However, homeownership remains a top priority for most, with many considering it a sound long-term investment. All of this can lead to feeling overwhelmed and unsure of your ability to qualify for a home loan. The good news is there are options available—options you may not even be aware […]
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The holidays are almost here, and your home is about to be center stage for festive gatherings and cozy reunions. Whether you’re looking forward to hosting or dreading it, the good news is that you don’t have to empty your wallet while prepping your home. As real estate agents, we’ve seen firsthand how a few strategic staging tweaks can completely transform a home—and we’re sharing our insider tips for getting your space guest-ready on a […]
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You might be thinking, Am I missing out on options if I don’t buy a home during the peak season? While it’s true that spring and summer typically bring an influx of listings, they also bring more competition and, in turn, higher prices. According to the National Association of Realtors (NAR), home sales peak during the warmer months and then decline in the fall and winter. This seasonal shift creates opportunities that most buyers overlook, […]
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Selling a home is considered more stressful than planning a wedding. Yes, you read that right! According to a recent study by Opendoor, selling a home is 35% more stressful than planning to exchange vows. And for many homeowners aged 55 and over, selling a home is often intertwined with major life transitions, adding another layer of emotional complexity. This statistic might surprise some, but it highlights the significant emotional and logistical hurdles involved in […]
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Let’s face it—between repairs, closing costs and commissions, the costs associated with selling your house can add up fast. Case in point: homeowners reported spending $54,616 when selling their homes, according to a recent survey from Clever Real Estate—an amount that was surprising to 42%. Despite the costs, the majority (64%) made a profit on the sale of their home, with the median profit totaling $100,000. With the right strategy, you can maximize your profits […]
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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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