Our Bright Night: Celebrating 10 Years of Our Minds Matter

Our Minds Matter (OMM), formerly the Josh Anderson Foundation (JAF), was founded in 2012 in Vienna, VA with the vision to end teen suicide.  The Foundation was named after Josh Anderson, who died by suicide in 2009 at the age of seventeen. Josh was what you might call a “typical” teenager and had his whole life ahead of him. The Foundation’s goals are to equip teens with mental health education, resources and support so they never die by suicide. 

On Friday, December 9th, OMM will be celebrating their 10 year anniversary at their Our Bright Night event and The Belt Team is honored to be one of the sponsors.

“10 years is an amazing milestone, and we’re excited to celebrate on December 9th at the Showroom in Washington, D.C. with the partners and supporters who have gotten us to where we are today — including The Belt Team at Keller Williams. We started in 5 clubs in Fairfax County, VA — and now we’re in 140 schools in the DMV and throughout the country! It’s amazing to see so many dedicated teenage students promoting mental health at their schools, and prioritizing their own mental health. OMM has built the platform and structure over this past decade — but it’s the students who make the difference every day within their school communities.”

Lauren Anderson, Executive Director

If you are interested in attending Our Bright Night and supporting this wonderful foundation, tickets are still available. Visit their event website HERE to find out more details about the event, how to purchase tickets and/or become a sponsor. Also take some time to read about OMM’s mission and values and how they are making an amazing impact on our teens and community at www.ourmindsmatter.org.

Top Questions About Selling Your Home This Winter

There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision.

1. Should I Wait To Sell?

Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market:

Top Questions About Selling Your Home This Winter | MyKCM

While buyers have regained some negotiation power as inventory has grown, you haven’t missed your window to sell. Your house could still stand out since inventory is low, especially if you list now while other sellers hold off until after the holiday rush and the start of the new year.

2. Are Buyers Still Out There?

If you’re thinking of selling your house but are hesitant because you’re worried buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As an article in Forbes explains:

At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. If you’re wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

3. Can I Afford To Buy My Next Home?

If current market conditions have you worried about how you’ll afford your next move, consider this: you may have more equity in your current home than you realize.

Homeowners have gained significant equity over the past few years and that equity can make a big difference in the affordability equation, especially with mortgage rates higher now than they were last year. According to Mark Fleming, Chief Economist at First American:

“. . . homeowners, in aggregate, have historically high levels of home equity. For some of those equity-rich homeowners, that means moving and taking on a higher mortgage rate isn’t a huge deal—especially if they are moving to a more affordable city.” 

Bottom Line

If you’re thinking about selling your house this season, reach out to The Belt Team so you have the expert insights you need to make the best possible move today.

703-242-3975 | Info@TheBeltTeam.com | Contact Us

Home Sale Statistics in Northern Virginia – October 2022

We are still experiencing a seller’s market in the Northern Virginia Region mostly due to the supply & demand equation, however, sales are down significantly (about 40%) from this time last year. Why? Partly due to inventory but a lot due to affordability issues because of the significant increase in interest rates.

In reality, we see this as a more “normal” seller’s market. What does that mean? Terry answers this and more in his latest market update video.

Northern Virginia October 2022 home sales:

2,119 homes went under contract in the region. This is down 46% from the same time period in 2021.

41% of the homes that went to settlement in October 2022, sold in 10 days or less from when they hit the market.

• Average sold price was $699,532 (up 3.7% from the same time period in 2021).

2,720 homes came on the market. That’s down 33% from October 2021.

• Homes that sold (closed) averaged 25 days on market, 6 days slower than in October of 2021.

• There is currently a 1.2 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,778 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained in a Seller’s Market. Inventory decreased from the prior month but was up 8.1% year-over-year.  The number of homes going under contract and coming on the market also declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was up from September and compared to October last year.

If you are thinking of buying or selling, please reach out to Terry & The Belt Team and let our experience work for you.

(703) 242-3975 | Info@TheBeltTeam.com | or fill out our Contact Us form

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: October 2022 Home Sales

Oakton: October 2022 Home Sales 

McLean: October 2022 Home Sales 

Great Falls: October 2022 Home Sales 

Reston: October 2022 Home Sales 

Falls Church: October 2022 Home Sales 

Arlington: October 2022 Home Sales

Alexandria: October 2022 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

10200 Martinhoe Dr, Vienna VA 22181 – Just Listed by The Belt Team!

Welcome to 10200 Martinhoe Drive…a lovely split colonial situated on a .46 acre lot in the Lewis Manor neighborhood! With 4BR/2.5BA on 5 finished levels, this home features hardwood floors on the main level, crown molding throughout, built-in bookcases/shelving, a stone wood burning fireplace, eat-in kitchen, separate dining room, private office/den, spacious primary bedroom suite, finished lower level and more. Outdoor living & entertaining space includes a back deck overlooking the beautiful in-ground pool and fenced-in yard. 2-car attached garage, unbeatable location for commuters & amenities, and great schools! Don’t miss this opportunity to make this home your own!

See full listing: 10200 Martinhoe Drive, Vienna VA 22181

Call Terry Belt at 703-242-3975 for more details or to schedule a showing!

Call The Belt Team at (703) 242-3975 if you are thinking of buying or selling. The Belt Team has been in business for over 54 years and has sold over $1 Billion in transaction volume!

703-242-3975 | Info@TheBeltTeam.com | Contact Us

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