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Northern VA Blog

Friday, September 23, 2022   /   by Laura Larson

Can I sell my House in this current Market?

Here's what you need to know if the recent news about the cooling of the housing market and decreasing buyer demand have you scared you might have missed your chance to sell. The buyer demand is still there; it has just slowed down from the peak intensity it reached over the previous two years.
Then and Now: Buyer Demand
Mortgage rates reached record lows throughout the COVID pandemic, which significantly increased buyer demand. Buyer demand retreated or slowed this year as rates rose as a result of growing inflationary pressure.
The data from the previous few months and the market's apparent cooling off is reflected in the number of home showings since mortgage rates started to rise. Context, though, is crucial. So, despite the slowing down in home showings compared to the frenzy in 2020 and 2021, home touring activity is still outpacing pre-pandemic levels, which were excellent years for the housing market. That proves that there is still a market for homes that are ...

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Friday, September 23, 2022   /   by Laura Larson

If you are following the stock market? Check your home's value for good news.

While keeping up with the fluctuations of the stock market may have become difficult, determining the value of your property should provide much-needed comfort during this tumultuous period. If you own a property, recent increases in housing prices have greatly increased your net worth. Your home equity played a part in the growth of your wealth. This is how it goes.
Your home's equity is its current value less any loan balance. Over the past several years, there was a big mismatch between the number of homes for sale and the number of people looking to buy, which led to a large increase in property prices. Home prices across the country are still high despite recent market cooling brought on by increased inventory and mortgage interest rates.
That’s why, according to the latest Homeowner Equity Insights from CoreLogic, the average homeowner equity has grown by $60,000 over the last 12 months.
Why is this so important at this time?
The National Association of Realtors ( ...

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Friday, September 23, 2022   /   by Laura Larson

Top Motives for Listing your House for Sale

Many homeowners are hesitant to list their properties for sale because they don't want to lose the record-low mortgage rate they are paying now. 
According to data from April of this year, 51% of homeowners had mortgage rates under 4%. While it is true that mortgage rates are currently higher than that, there are other non-financial variables to take into account when considering relocation. In other words, regardless of where rates are at the moment, your mortgage rate is crucial, but you can also have other circumstances in your life that make a relocation necessary or desirable. As the National Association of Realtors (NAR) Vice President of Demographics and Behavioral Insights Jessica Lautz explains: "Historically, people who sold their homes did so because of a change in their lives, such as the birth of a child, a marriage, a divorce, or a new career...”
So, if you're considering selling your home, it might be beneficial to look into the additional factors inf. ...

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Friday, September 23, 2022   /   by Laura Larson

What Experts Foresee for Housing Prices Next Year

Home price projections for 2023 are currently being calculated by real estate experts. Most analysts concur that properties will still increase in value, albeit at a slower pace than in recent years. There has been a lot of speculation about how long the recent unsustainable spike in property prices will last. If you're wondering what the price of your property will be in the future, be aware that specialists are now providing answers. This is good news for homeowners who might have been misled by the media into thinking their homes will depreciate in value.
Historically, home prices have appreciated at a rate near 4% annually. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation.
Look to supply and demand economics to comprehend why specialists are urging for appreciation in the upcoming year. As a financial specialist asserts: "The fundamental fact. ...

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Friday, September 23, 2022   /   by Laura Larson

Checklist for Preparing Your Home for Each Season

The majority of us don't want to spend our Saturdays doing home upkeep. Few people might say, "I can't wait to flush out the hot water heater today." The majority of us, though, place the most money into our homes. You have to keep it in good shape. If you allow the paint to flake off the shutters or the gutters to fill with leaves, you risk incurring expensive repair costs.
Home upkeep might seem burdensome, especially for a first-time buyer used to having the landlord handle it. However, it need not be intimidating. Plan to complete one set of quick tasks by the month and additional tasks by the season.
Monthly Tasks
Clean the furnace filter. Your HVAC will operate more effectively and last longer if you have clean filters. This can also save you money on costly maintenance and cleaning expenses. Depending on factors including if you have allergies or pets, the quality of the filter, and how often you replace your filters, you may want to do it either monthly or every . ...

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Larson Fine Properties
Laura Larson
7294 Joffa Circle
Warrenton, VA 20187
703-743-4410

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Larson Fine Properties participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2022 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: September 25, 2022 12 PM.
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