5 Reasons to Sell Your House This Summer

5 Reasons to Sell Your House This Summer | MyKCM

Here are 5 compelling reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Index  from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days. (Last numbers available.)

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to start living the life you desire.

That is what is truly important.

Thinking of selling? Call/text us at 703-242-3975!

Visit http://www.northernvirginiahousevalues.com for your FREE home valuation.

Homebuyers Are On Borrowed Time, Sellers Take Note

Buyers Market or Sellers Market

If you’re thinking of buying a home in 2015, you may want to do it sooner rather than later. Why is that? Well, according to Gary Keller, Chairman of the Board of the world’s largest real estate company, “Home buyers are on borrowed time.” Keller made this comment back in February at Keller Williams Realty’s annual gathering of top associates from around the world as part of his economic update.

In case you’re thinking the comment made by Keller may have been self-serving just to encourage urgency among potential homebuyers, you might be interested to know that the Federal Reserve’s moves last week seem to corroborate Keller’s statement. From The Washington Post on March 19th: “The Federal Reserve cleared the way Wednesday for raising interest rates for the first time since the financial crisis.” The Fed was clear that a rate hike is not immediate or even imminent, but they definitely opened the door for that to happen this year. And as we see the economy improve, we also believe this will happen.

CEO The Belt TeamTerry Belt, CEO of The Belt Team says he is “advising our serious buyers that NOW is the time to buy. Rising interest rates, combined with rising home values mean that buying later will equal lower affordability and much less house. It is for this reason that we are also advising Sellers to sell sooner rather than later. If and when interest rates rise, some home buyers will be priced out of the market. And while home values are projected to rise in 2015, the projected rise is very moderate – about 3%, as compared to the 11% rise we saw in some areas over the past few years.”

Today, we spoke with Christine Todd, CEO of the Northern VA Association of Realtors (the 11th largest association in the U.S.). She told us that housing inventory in Northern VA is at a five year low and that throughout Northern VA, inventory is at 2 months. Two months of inventory translates to a Seller’s Market. That puts Sellers in the driver’s seat – making now a fabulous time to sell. It also means that Buyers have less options and it make take more time to find your dream home. And unlike the Rolling Stones song “Time Is On My Side”, it may only be a matter of time before rates rise. Another reason why waiting may not be to your benefit.

Whether you’re buying or selling, there are challenges on both ends. Buyers seek guidance on getting through credit hurdles, loan approvals and financing options. They need advocates who can advise on how to best compete, what their options are and how to find homes not already on the market. They want the RIGHT home. And while it sounds good to be a Seller during a Seller’s market (and it is!) – you still want to make sure you don’t leave money on the table and that once you are under contract, your sale actually goes to closing. THIS is where a top notch Realtor makes a difference and why the number of people selling by owner has gone down year after year.

The Belt Team has navigated the Northern Virginia real estate market since 1973. We have serious, long-term, committed Realtors on our team who are here to educate, navigate and advocate for you. When you read our online reviews, we think you’ll soon see why it’s in your best interests to work with what we think is the best real estate team in Northern VA. Our mission statement is “Changing Lives For The Better”. If it’s time to change yours, give Terry Belt & The Belt Team a call at (703) 242-3975. It would be a pleasure for our family to help your family make the right move. And that right move just might be NOW!

Best Real Estate Agents in Northern Virginia

Home Sellers – Don’t Be An April Fool. You Deserve Einstein!

The Belt Team Northern VA Real Estate

April 1st is approaching, and that means April Fool’s Day!

Here’s our April Fool’s Tip for Real Estate:

Don’t list your home with the agent who gives you the highest price recommendation.

Why not?

That seems backward, doesn’t it. Because of course you want to sell for the most amount of money possible. Right?!

Many agents will overprice a home in order to get the listing… and then ask for a price change down the line. But does it really matter? Can’t you just try out a higher price & then lower it if it doesn’t work?

You can. But not if you want to net the highest price possible. Statistics prove that the longer a home is on the market, the lower the price it will sell for. Overpricing a home is the worst mistake you can make!

First, select your real estate agent based on his/her credentials. Then, with your agent’s input and a comparative market analysis, decide on price, and price it right from the start.

Never let an agent “buy” your listing. It’s tempting to “tell you what you want to hear”, but integrity and a professional price opinion are in your best interests. No one has a crystal ball & pricing can validly have some variability, but pricing realistically from the start is one of the strongest tools you have in winning the “Sales Game”!

The other reason you don’t want to select your agent solely based on the price he/she recommends is that you want to ensure you have an agent who gets results, who negotiates like a Ninja and who solves problems like Einstein.

Marketing your home & getting a contract are only half the battle. Negotiating, getting it ratified and getting successfully to closing are the other half. In today’s markets, lots of contracts are falling apart. And what we are observing is that the agents with the most talent, skill & experience have the highest success rates.

Oftentimes, the agent recommending the higher price is doing so because that’s the easy way out. They don’t have the skills to compete with other agents except for on price (whether that is list price or commission.) Sometimes it’s because they don’t do a lot of business and just don’t know the market well. But in either case, that doesn’t bode well for you as a Seller. This person will be representing you and is most likely NOT going to get you the results you want. You don’t just need a good marketer or a good sales person or someone you “click with”. You need the person who will get you the highest price for your most valuable financial asset and who will do it in the least amount of time with the least inconvenience, because that’s in your & your family’s best interests!

(Note: today most of Northern VA is seeing a Seller’s Market. So even newer & less talented agents can “sell” homes. But you don’t just want to “sell” your home, you want to maximize your profit and not leave money on the table!)

How do you find an agent who gets results, negotiates like a Ninja and solves problems like Einstein? (Well, you could just call us of course – LOL.) But seriously, ask a lot of questions. We advise people to ask 42 questions actually. Once you conduct that 42 question interview, you’ll know if you have a Ninja on your hands. You should also read their online reviews – not the ones on their web site, but on independent sites like Zillow. You’ll get a real feel for what it’s like to work with each agent you read about. (Just make sure they have enough reviews to paint a real picture!) (Read Belt Team Reviews here.)

If you’re thinking about selling, don’t be an April Fool! You deserve the BEST Real Estate Team in Northern VA. Call (703) 242-3975 to schedule a FREE consultation or email The Belt Team to request our FREE REPORT “42 Questions To Ask BEFORE You Sell Your Home.”)

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What Does A Shift In The Market Mean For Home Buyers?

In Northern VA, the housing market has shifted into a strong Seller’s market; so what does this mean for Buyers? Watch this 2 minute video to find out:

 

The one thing we would point out that is slightly different than what you saw in the video, is that The Belt Team recommends that buyers get pre-APRROVED, not just pre-qualified. In order to compete in today’s market, Buyers need to be fully approved for their mortgage and have a full approval letter from their lender BEFORE they write a contract.

Tom Reilly Buyer Specialist Northern VA Real EstateHappy Belt Team Buyer

For more tips on what Buyers can do to succeed in today’s market, contact Belt Team Lead Buyer Specialist Tom Reilly at (703) 629-1263 (or email Tom). His legal and technology background have provided him with some superb strategies that he implements on behalf of his buyers!

Yes, Northern Virginia, It’s Still A Seller’s Market

Are you wondering how the real estate market is in Northern Virginia, and whether it’s a Buyer’s Market or Seller’s Market? Well, wonder no more. Inventory is low, low, low. And Buyers all over Northern VA are competing for the same homes.

The areas we get most asked about are Vienna & Oakton, so real estate stats for those areas are below. (Call 703-242-3975 or email us if you need real estate stats for Reston, Fairfax, Herndon, McLean, Falls Church, Arlington or any other area of Northern Virginia).

If you’re in the market to buy or sell NOW, you may want to read these articles:

Last week in Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 13 (down from 18 the week before)
  • Average Days on Market for Active Listings: 100 days (down from 103 the week before)
  • Average Days on Market for Listings That Went Under Contract: 52 days (up from 36 the week before)
  • Inventory: 124 homes on the market (up from 115 the week before)
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.0 months (up from 1.9 the week before)
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 1.5 (up from 1.35 the week before) months

What Is My Vienna Home Worth?

Last week in Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 13 (twice as many as the week before)
  • Average Days on Market for Active Listings: 88 days (down from 94 the week before)
  • Average Days on Market for Listings That Went Under Contract: 35 days (down from 125 the week before)
  • Inventory: 57 homes on the market (just 1 more than the week before)
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 1.8 months (down from 2.1 the week before)
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 1.2  months (down from 1.4 the week before)

What Is My Oakton Home Worth?

No matter why you’re moving, we can help you make the BEST move. If you’re thinking of buying or selling a home, Contact The Belt Team at (703) 242-3975. We think you deserve the BEST Realtors in Northern Virginia!

Our mission is “Changing Lives For The Better – One Family At A Time!”