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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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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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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The past few years have been tough for buyers. And if you think back to before the pandemic, you’ll likely remember hearing that spring was always the ideal time to buy a home. After all, that’s when the majority of homeowners list their homes for sale, and more homes on the market means more options for buyers. This fall, however, marketing conditions are aligning in favor of homebuyers in many markets, creating a unique window […]
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Let’s get real. Do you have to use a real estate agent when buying or selling a home? The answer, of course, is no. You can absolutely go it alone, and there are people who opt to do so every year. After all, with the internet at your fingertips, you can search for homes, look up property values, and even negotiate deals on your own. Yet, even with all that info, 89% of people choose […]
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