Watch Out For Shark Infested Waters in the Real Estate Market

Wondering how the real estate market is faring? Take a look at this snapshot from Keeping Current Matters:

Home Sales November 2015 Real Estate

What’s most important in the infographic is the quote from Lawrence Yun. You see, sales in November 2015 were down from sales in November 2014. In our opinion, the real reason for this is TRID.

TRID (Truth-In-Lending RESPA Integrated Documentation – or as some Realtors call it, “The Reason I Drink”) is a new government regulation that affects people who are buying and selling homes. We won’t go into all the details (and there are a LOT of them), but the bottom line is that TRID is causing increased costs and delays in settlement. We expect that when numbers come out for December, that many of the expected November closings will show up.

That said – TRID is just another reason why it’s SO important for consumers to be represented by Realtors who do this every day and can help their clients navigate what often feel like shark infested waters. Part of what we do is manage all the details of the buying & selling process. We make sure deadlines are met, you are protected, and that you get where you want to go when you want to be there.

We have heard all kinds of horror stories about delayed closings – Buyers with their household belongings on trucks for days, staying in a hotel because their settlement was pushed back due to a TRID delay. Others where their mortgage loan lock-in expired, only  to have to pay hundred or thousands of dollars to extend the rate. Sellers who pack up and move out – but can’t get their money when they need it because the Buyer was held up by TRID.

Terry Belt Realtor The Belt TeamTerry Belt, CEO of The Belt Team says, “You don’t need to know all the ins & outs of TRID, but your Realtor does. Our advice to you – whether buying or selling a home – is to make sure to work with a seasoned real estate team – the best you can find. It’s in your best interests to use their years of experience and their immense resources to your advantage. When problems arise, and with new regulations like TRID it’s not unusual – you need someone with creativity & pull on YOUR side. The more homes a Realtor sells, the more likely they are to be a great problem solver. So ask for details when you’re interviewing your Realtor. (We even have a list of questions you should ask your Realtor!)”

Schedule an appointment with The Belt Team by calling (703) 242-3975.

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The Belt Team is one of the Top 20 Best Real Estate Agents in the State of Virginia (as named by Real Trends) and one of Washingtonian Magazines Best Realtors in 2015. Our mission statement is “Changing Lives For The Better”. If it’s time to change YOURS, call us at (703) 242-3975 TODAY. It’s our pleasure to help you make the RIGHT move.

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Homebuying Can Be Easy!

Homebuying Can Be Easy - With The Belt Team

Just ask Ian & Lauren Forbes! They bought their first home and went to settlement last week. They were kind enough to share their thoughts about the process on independent review site Zillow.com. Zillow notified us today about their review. And it made our day!

Here’s what they said:

“My wife and I recently worked with The Belt Team, and in particular with Tom Reilly and Beth Dadisman. As this was our first home purchase, we had no idea what to expect going in, but we really couldn’t have had a better experience. Tom and Beth helped us every step of the way, from narrowing down our search to finding the right home to guiding us through the closing process. Tom is a Northern Virginia native and is extremely knowledgeable about the neighborhoods in the area, which helped us greatly to focus our search. We always felt like Tom and Beth were on our side–they never pushed us toward a specific house or neighborhood, but always provided honest answers to any of our questions and added value by pointing out things that we, as first time home buyers, wouldn’t think about when looking at homes. We looked at a decent number of houses, and Tom and Beth were readily available whenever we asked to tour a home–we would always get a response within a few hours and they were always willing to work around our schedules to show us a house. After we found our home, Tom and the team helped us navigate the closing process–daunting for any home buyer–and prepared a checklist of all the things that needed to happen between signing the contract and closing, which was fantastic. Even after signing the contract, Tom worked with the sellers on a few issues that popped up before closing, resolving all of them in our favor and within a day. Finally, Tom attended our closing and even brought us a bottle of champagne to celebrate, which was truly a nice touch. If you’re thinking of purchasing a home in the Northern Virginia area, there’s really no other choice than The Belt Team.”

Thanks for taking the time to write Ian. It was our pleasure to help you make dreams come true. WELCOME HOME!

Our mission is “Changing Lives For The Better”. If it’s time to change YOURS, click here to schedule your Buyer Consultation online or call (703) 242-3975. No cost. No obligation!

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