From hunt country to the suburbs and every town in between, our approach to real estate is this: simply better.
We’re thrilled to launch our rebrand! Check out our press release detailing our approach to serving our clients – Simply Better.⠀
2018 was a great year in Real Estate! Thank you to all my clients, family & friends that have made my past 9 years in this business a success.
Closing out 2018 I was awarded for doing $5+ million in sales! This would not be possible without the referrals from my family and friends. I am never too busy for referrals as they are the greatest gift.
Going into 2019 I am eager to help even more people find their way home.
Punxsutawney Phil emerged from his burrow and did not see his shadow, predicting an early spring for us all!!!
What does this mean for you?
Well in Northern Virginia, the few weeks that follow Super Bowl Sunday is the kickoff to the Spring real estate market.
That may sound wild because most people think of Spring starting in April or May but when that time comes around, every seller lists their home. Inventory increases and creates more of a buyer’s market.
If you list your home during the early Spring market it’s a lot less competitive. A lot of buyers are out looking to get a head start on the competition and we expect interest rates to still be relatively low.
It’s never too early to develop an aggressive marketing strategy… And I’m here to help with that! So if you’re considering selling your home in the Spring of 2019, think about February and March as Spring (so long as we don’t have terrible weather) because it’ll most likely be the highest prices and lowest days on the market!
This Week’s Mortgage Industry New (At a glance): Courtesy of Bill Stern with RMS
-The stock and bond markets both realized modest gains with the major stock indexes recording their seventh consecutive weekly gain. The main driver of investor sentiment this week seemed to be news centering on the trade dispute between the U.S. and China.
-In housing, CoreLogic released their Home Price Index (HPI) and HPI Forecast for December 2018 this past Tuesday showing home prices increased year-over-year by 4.7%, the slowest price growth rate since August 2012. Month-over-month, home prices increased by 0.1%. After gazing into a crystal ball, the CoreLogic HPI Forecast predicts home prices will increase by 4.6% on a year-over-year basis from December 2018 to December 2019.
-This past week, the national average 30-year mortgage rate fell to 4.44% from 4.53%; the 15-year mortgage rate decreased to 4.05% from 4.12%; the 5/1 ARM mortgage rate declined to 4.38% from 4.40% while the FHA 30-year rate decreased to 4.13% from 4.18%. Jumbo 30-year rates decreased to 4.28% from 4.35%.
-Bond prices this coming week should trade between support found at the 61.8% Fibonacci retracement level ($101.856) and resistance at $102.469. Trading between current support and resistance levels with a bias toward slightly higher prices should result in stable mortgage rates or rates moving slightly lower.
*If you are interested in Bill’s complete review of this week’s mortgage industry news, please let me know and I can send you the full report. Also, if you would like to speak to a lender to see what financial options you may have when buying or selling please contact him and he would be happy to help.
Bill Stern | Lender | Residential Mortgage Services | (540) 222-0164 | Bill.Stern@RMSmortgage.com
MARKET STATS
January 2019 Market Stats
The real estate numbers have just been finalized for Loudoun, Fauquier, and Clarke for the month of January.
Key Trends…
- Sales were slightly down. The 286 Closed sales in January represented a decrease from the 327 closed sales from January 2018.
- Seller activity increased. The 536 units listed in January increased from the 520 units listed in January 2018.
- Days on Market dropped. The average days on market in January were only 68 days when the days on market in January 2018 were 167 days.
- Prices increased. The median sales price in January was $486,250 representing an increase from January 2018 when the median sales price was $450,000.
- Sales were slightly down. The 7 Closed sales in January represented a decrease from the 12 closed sales from January 2018.
- Seller activity increased. The 17 units listed in January increased from the 14 units listed in January 2018.
- Days on Market dropped. The average days on market in January were 97 days when the days on market in January 2018 were 111 days.
- Prices increased. The median sales price in January was $399,000 representing an increase from January 2018 when the median sales price was $366,950.
- Sales were slightly up. The 47 Closed sales in January represented a increase from the 39 closed sales from January 2018.
- Seller activity increased. The 119 units listed in January increased from the 82 units listed in January 2018.
- Days on Market increased. The average days on market in January were 107 days when the days on market in January 2018 were 89 days.
- Prices slightly decreased. The median sales price in January was $329,900 representing a slight decrease from January 2018 when the median sales price was $330,000.
FUN OUTSIDE THE OFFICE
Our sweet pups Betty, Bailey, & Beau helping with winter chores outside.
Please let me know if you are thinking about making a move, as I would be happy to help you with any/all of your real estate needs.
Kristin Dillon-Johnson’s passion, drive and focus keep her rising to the challenge when competing horses. As an experienced real estate agent, these same traits push her to be her best every day professionally, as well. When Kristin is focused on your investment goals, she is committed to helping you achieve exceptional results. For your next move in Loudoun County or Northern Virginia, call Kristin Dillon-Johnson and seize your opportunities.
