Washington DC, Maryland & Northern Virginia
Real Estate & Community News

Nov. 19, 2020

Winter Will Bring a Flurry of Activity to the Housing Market

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

The typical winter slowdown in the housing market is simply not on the radar. Here’s why.

While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent articleBankrate explained:

“If you’re looking to buy a home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.”

As long as we continue to see low interest rates, we’ll see hopeful buyers on the hunt for their dream homes. Yun confirmed:

“The demand for home buying remains super strong…And we’re still likely to end the year with more homes sold overall in 2020 than in 2019…With persistent low mortgage rates and some degree of a continuing jobs recovery, more contract signings are expected in the near future.”

The challenge, however, is the lack of homes available for sale. With that in mind, all eyes are on homeowners to see if they’ll sell this winter or wait until spring. Danielle Hale, Chief Economist for realtor.comsays it’s best for sellers to capitalize on this moment sooner rather than later:

“We currently see buyers sticking around in the housing market much later than we usually do this fall. If that trend continues, we will see more buyers in the market this winter, too. So, this winter is likely to be a good time to sell.”

With buyers ready to stay active this winter, sellers who want to close a deal on the best possible terms shouldn’t wait until spring to put their homes on the market.

Bottom Line

Experts agree the winter housing market could potentially be bigger than ever. Whether you’re ready to buy or sell, contact Charles and The Heyward Homes Team of RE/MAX Specialists today so you can be in your dream home by the new year.

Nov. 16, 2020

Working from Home Could Spark Your Next Move

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.

While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.

A recent study from Upwork notes:

“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”

To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.

The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):

 

In some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:

“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”

Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with The Heyward Homes Team to assess your evolving needs and determine your path together.

Bottom Line

This has been a year of change, and what you need in a home is no exception. Reach out to Charles today at 240.203.8991 to make sure you have expert guidance on your side to help you find a home that fits your remote work needs.

Nov. 11, 2020

Helping HEROS Find Homes: VA Home Loans

Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes.

As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being knowledgeable about what’s available and how they work may be a game-changer for many.

Facts about 2019 VA Home Loans (most current data):

·       624,546 home loans were guaranteed by the Veterans Administration.

·       306,879 VA home loans were made without a down payment.

·       2,055 grants totaling $118 million were provided to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs.

VA Home Loans Often Offer:

·       No down payment options as long as the sales price isn’t higher than the home’s appraised value.

·       Better terms and interest rates than loans from other lenders.

·       Fewer closing costs, which may be paid by the seller.

Bottom Line

The best thing you can do today to celebrate Veterans Day is to share this information with those who can potentially benefit from these loan options. For more information, contact Charles and The Heyward Homes Team, who can assist you in the process. Thank you for your service.

Nov. 11, 2020

Making A Home For The Brave Possible

Some Highlights

  • VA Home Loans provide unique opportunities for Veterans, active-duty personnel, and their families in recognition of their service to our Nation.
  • For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality.
  • If you or someone you know may benefit from a VA Loan, reach out to Charles and The Heyward Homes Team today to learn more.

 

Nov. 2, 2020

2020 Looks A Lot Like 2005...here's why.

Remember the housing bubble of the mid 2000s...and the housing crash that followed? The insane competition between buyers?...the skyrocketing prices?...all fueled by historically low interest rates? Well, we are once again at a similar point in time. 

 

Back in 2005, I begin advising clients to sell. Why? Because history has proven that the best returns are realized when you sell just BEFORE price peaks...not after the peak has been realized.

 

Well....Welcome back to 2005! And I'm making that same recommendation to anyone thinking of selling in the next 12 to 24 months. Just as it was back in 2005, we have now seen nearly 10 continuous years of nonstop price appreciation, under historically low interest rates. We are seeing the same ultra-competitive market, where each home listed is receiving multiple offers, with price pushed upwards tens of thousands of dollars above list price.....once again we are in a STRONG sellers market with "no end in sight". Which means the shift will come suddenly and abruptly.

 

If you don't plan to be in your current home another 10 years, give me a call today, and let's exam if now is the right time to maximize the investment you've made in your home.

Oct. 20, 2020

Just Listed! 4 Bedroom Townhome in Bowie, MD

Beautifully maintained townhome in highly sought Bowie, Maryland. Convenient to everything! This property will not last long so submit your application quickly!

See the virtual tour below...or view the full MLS Listing here.

To Schedule Your Viewing Contact Charles TODAY at (240)203-8991

UPDATE: This property is now also listed FOR SALE! View sale listing here

 

 

Oct. 12, 2020

Thinking of Moving?

Some Highlights

  • If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you?
  • New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs.
  • Reach out Charles & The Heyward Homes Team to understand how to sell your house while buyer demand is high and find a new home to call your own while you’re at it.

 

Oct. 8, 2020

Why Selling this Fall May Be Your Best Move

If you’re thinking about moving, or cashing out on an investment property, selling your house this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an easy one.

1. Buyers Are Actively in the Market

ShowingTime, a leading real estate showing software and market stat service provider, just reported that buyer traffic jumped 60.7% compared to this time last year. That’s a huge increase.

It’s clear that buyers are ready, willing, and able to purchase – and they’re in the market right now. Throughout the DC, Maryland & Virginia markets, multiple buyers are entering bidding wars to compete for the home they want. Take advantage of the buyer activity currently in the market so you can sell your house for top dollar and at the best terms available.

2. There Are Not Enough Homes for Sale

In the latest Existing Home Sales Report, the National Association of Realtors (NAR) announced that there were only 1.49 million units available for sale. That number was down 18.6% from one year ago. This means in the majority of the country, there aren’t enough homes for sale to satisfy the number of buyers.

Due to the health crisis, many homeowners were reluctant to list their homes earlier this year. That will change as the economy continues to recover. The choices buyers have will increase going into the new year. Don’t wait until additional sellers come to market before you decide to make a move.

3. The Process Is Going Quickly

Today’s ultra-competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to the latest Origination Insights Report from Ellie Mae, the time needed to close a loan is just 49 days.

4. There May Never Be a More Important Time to Move

You’ve likely spent much of the last six months in your current home. Perhaps you now realize how small it is, and you need more space. If you’re working from home, your children are doing virtual school, or you just need more space, your current floor plan may not work for your family’s changing needs.

Homebuilders are beginning to build houses again, so you can choose the exact floor plan to match what your family needs, and you can make sure the outdoor space is what you want too.

Bottom Line

The DMV housing market is prime for sellers right now, so call Charles and The Heyward Homes Team to get the process started. If the timing is right for you and your family, the market is calling your name.

Oct. 8, 2020

Congratulations Gayle & Gigi!

  

       

Posted in Buyers, Recent Sales
Sept. 11, 2020

Want An Agent Who Actually Knows Their Stuff?

All Realtors/Agents/Brokers are not the same.

Let us put 20 years of knowledge and experience to work for you.

The Heyward Homes Team of RE/MAX Specialists