An Update from Terry Belt…

What are we seeing happening in the Northern Virginia real estate market? Here’s an update from Terry Belt about what is happening and how we are adjusting to meet the needs of our clients.

Don’t forget, The Belt Team is here to help…real estate related or not! Please don’t hesitate to contact us at 703-242-3975 or info@thebeltteam.com.

Please stay safe and healthy everyone!

5822 Bent Twig Rd, McLean VA 22101 – Just Listed by The Belt Team!

Price and LOTS more photos of 5822 Bent Twig Rd, McLean VA 22101

Fabulous updated home on a quiet cul-de-sac in The Dogwoods. Wonderful close-in location only one traffic light to DC and close to downtown McLean! This property features 5 BR/3.5BAs on 3 finished levels, attractive hardwood floors on most of all levels, 2 wood burning fireplaces (one 2-sided), kitchen with large island, wine cooler, gas cooking & breakfast room, formal dining room, private main level office, large master suite with dressing room, finished walk-out lower level with spacious guest suite, laundry room, and an abundance of storage. Also enjoy the lush and beautiful landscaping, back patio and pergola. Don’t miss out on this must see home in an unbeatable location!

Call Terry Belt & The Belt Team at (703) 242-3975 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 50 years and has sold over $1 Billion in transaction volume! (Sellers –  you’ll be interested to know that Belt Team Sellers sell FASTER and for MORE money than average!

Coronavirus and the Real Estate Market

How is the coronavirus affecting the real estate market? Terry Belt shares what we are seeing in Northern Virginia. Give him a call at 703-242-3975 to discuss your goals and create a strategy during this challenging time for everyone.

Historically Low Mortgage Rates!

Another update from Terry…mortgage rates did drop yesterday so we’re now looking at historically low numbers! Something everyone should consider…buyers, sellers, homeowners not looking to make a move. Take a listen and give us a call 703-242-3975!

Fed’s Emergency Rate Cut 3/3/20…What Does It Mean For Mortgage Rates?

Wondering if the recent emergency interest rate cut by the Feb will affect mortgage rates/the real estate market? Our CEO, Terry Belt, shares his industry knowledge and addresses questions he’s been getting today.

And as always, feel free to reach out to The Belt Team to discuss selling your home or help you find your new house. 703-242-3975

Housing Inventory Vanishing: What Is the Impact on You?

Housing Inventory Vanishing: What Is the Impact on You? | MyKCM

The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains:

“Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.”

The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:

Housing Inventory Vanishing: What Is the Impact on You? | MyKCM

George Ratiu, Senior Economist at realtor.com, explains how this drop in available homes for sale comes at a time when more buyers are expected to enter the market:

“The market is struggling with a large housing undersupply just as 4.8 million millennials are reaching 30-years of age in 2020, a prime age for many to purchase their first home. The significant inventory drop…is a harbinger of the continuing imbalance expected to plague this year’s markets, as the number of homes for sale are poised to reach historically low levels.”

The question is: What does this mean to you?

If You’re a Buyer…

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be ready to make a competitive offer from the start, and understand that a shortage in inventory could lead to the resurgence of bidding wars. Calculate just how far you’re willing to go to secure a home, if you truly love it.

If You’re a Seller…

Realize that, in some ways, you’re in the driver’s seat. When there is a shortage of an item at the same time there is a strong demand for that item, the seller of that item is in a good position to negotiate. Whether it is price, moving date, possible repairs, or anything else, you’ll be able to demand more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

Bottom Line

The housing market will remain strong throughout 2020. And it will be very important to work with an experienced agent who can help you understand what that means to you, whether you’re buying, selling, or doing both. That’s where The Belt Team comes in…give us a call or send us an email to help you navigate this market. We’ve been in business for over 50 years and have sold over $1 Billion in transactions throughout the years. It would be our pleasure to work with you and make your dreams come true!

703-242-3975 | Info@TheBeltTeam.com

Our CEO, Terry Belt recaps the 2019 Real Estate Market and what’s ahead for 2020.

Our CEO, Terry Belt, recaps the 2019 real estate market and discusses what he thinks 2020 will look like. 2019 was a healthy market bolstered by conditions like the strong economy, low interest rates, low unemployment, etc. There was also the emergence of what he calls a “segmented” market in 2019 and he anticipates it to continue into 2020. He also talks about stats that show why the spring market has already hit!

Watch Terry’s complete message for more specifics and learn why it is so important to work with experienced agents like The Belt Team to navigate this market. Call TODAY (703-242-3975) to make sure you don’t miss out on the market and talk with one of our agents…we have been in business for over 50 years and have closed over $1 Billion in transactions.

703-242-3975

info@TheBeltTeam.com

http://www.TheBeltTeam.com

National Cut Your Energy Costs Day

National Cut Your Energy Costs Day [INFOGRAPHIC] | MyKCM

Some Highlights:

  • On January 10th of each year, “National Cut Your Energy Costs Day” encourages consumers to reduce their overall energy costs by improving home efficiency.
  • According to Freddie Mac, a typical U.S. family spends $2,200 per year on energy bills. By making energy efficient upgrades, you could reduce your energy bills by up to 30%.
  • To assess the energy efficiency of your home and see how it measures up, take a moment to check out Home Energy Yardstick to calculate your estimated opportunity. Don’t forget to have your energy bills nearby!

What is the Best Investment for Americans?

What is the Best Investment for Americans? | MyKCM

Some are reporting that there is trepidation regarding the real estate market in the United States. Apparently, the American people are quite comfortable.

Porch.com, a major network helping homeowners with their renovation projects, recently conducted a survey which asked Americans:

“What do you believe is the safest investment over the next 10 years?”

U.S. housing came in at number one, beating out other investments such as gold, stocks, bonds, and savings.

Here is a graph showing the top five investments Americans selected:

What is the Best Investment for Americans? | MyKCM

The findings of the Porch.com survey also coincide with two previous surveys done earlier this year:

  1. The Federal Reserve Bank’s 2019 Consumer Expectations Housing Survey reported that 65% of Americans believe homeownership is a good financial investment, and that the percentage has increased in each of the last four years.
  2. The Gallup survey showed that Americans have picked real estate as the “best” investment for six straight years.

Bottom Line

Based on all three surveys done this year, we can see that Americans still believe in homeownership as a great investment, and that feeling continues to grow.

Contact The Belt Team if you are thinking of purchasing real estate…we have over 50 years of experience and would love to help! 703-242-3975 | info@thebeltteam.com

You Need More Than a Guide. You Need a Sherpa.

You Need More Than a Guide. You Need a Sherpa. | MyKCM

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a “normal market” right now. The media is full of stories about an impending recession, a trade war with China, and constant political upheaval. Each of these potential situations could dramatically impact the real estate market. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

A Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region – some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.

They are much more than just guides.

This is much more than a normal real estate market.

The average guide just won’t do. You need a ‘Sherpa.’ You need an expert who understands what is happening in the market and why it is happening. You need someone who can simply and effectively explain it to you and your family. You need an expert who will guarantee you make the right decision, even in these challenging times.

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” 

Bottom Line

Hiring an agent who has a finger on the pulse of the market will make your buying or selling experience an educated one.

Call The Belt Team at 703-242-3975 and talk to one of our experienced agents. We have been in business for over 50 years and have closed over $1 Billion in real estate transactions.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.