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Real estate this year has been a rollercoaster ride. The economy has been progressively worsening, and a housing market reset is potentially on the horizon. There are definitely better times to be in real estate – or are there? On the contrary, this might be one of the best times to sell your house. The bearish market also comes with many opportunities. Let me explain further. What Does It Mean to Sell As Is? Say you’ve just received news that a relative bequeathed a house to you. However, you already have a home, or the location of this property is
You’re likely aware of how hot the housing market has been for the last couple of years. Low inventory created a housing market squeeze, which resulted in bidding wars and homes selling above the list price. Due to limited options, many buyers are deciding to rent instead, and that’s creating a heightened demand for rentals. Historically low vacancies have propelled rent prices to record levels. In this blog, we’ll look at the climbing cost of renting and provide advice for those looking to rent or buy in this market. Why is Rent So High? Regarding current housing trends, the basic
In an attempt to combat inflation, the Federal Reserve began increasing interest rates. The goal is to cool down a super hot real estate market. If you’re a homeowner, you likely loved seeing the value of your home skyrocket over the last couple of years. However, if you’re a tenant looking to buy eventually, the outrageous pricing and bidding wars will naturally be discouraging. How Are Interest Rates Affecting the Market? Raising mortgage interest rates means a borrower will qualify for a lower loan amount. Higher interest rates also mean a buyer who buys a home for $300,000 will pay
What are the factors that affect home value? Whether you’re thinking of buying or selling a home, understanding the elements that affect its value might help you navigate this processes a lot easier. Although the market value and shifts in the economy can impact real estate, here are a few factors to take into account to better understand how the value of property increases and decreases. Location & Proximity Firstly, and perhaps the most important of all key factors that affect home value is location. Property in affluent neighborhoods, low-crime areas, quiet zones, and high employment opportunity areas tend to
Online platforms like Zillow are one of the most popular ways to get real estate information. Sellers may use these websites to list homes and properties for sale, while buyers flock there when looking for a new home. Examples of these websites include Realtor.com, Trulia, and, of course, Zillow. The difficulty is that some of these platforms are only designed to extract your information for lead generation and revenue creation. So, how do you separate the good from the bad? It’s difficult, however, let’s focus on Zillow today. What are the Pros? Before we cover the cons, let’s go over
It’s a competitive market, with prices climbing higher every month. This factor makes many feel uncertain about their chances of finding a home in their price range. When it comes to using Zillow, there are a few things you have to consider. Platforms like this have their pros and cons, watch along and let’s discuss them! Interested in buying a home? Then you’ll need an experienced realtor to assist you along the way. Contact me today by clicking here or give me a call at 757-880-2945 and let me help you navigate this market with confidence!
You’re likely aware, but home prices are booming, and homeownership is still a goal for many that is becoming more unreachable as time goes by. In these scenarios, it’s understandable why many potential buyers would postpone their buying decision for yet another year, but why delay owning your home? That rain check mentality often causes people to close themselves off to several benefits that come with owning a home. As a result, they may fall into the rent trap, thinking it was their best choice. When, in reality, they may be giving up a massive opportunity to secure their future,
It’s a hot market, and many are jumping into it with wide eyes and unrealistic ambitions. Right now, making the proper moves can impact sales by thousands of dollars. Join me, Bubba Hutchison, as I explain from a realtor’s perspective what you should be doing, and what you should be avoiding in this springtime Virginia market. Interested in buying or looking to sell your home? Then you’ll need an experienced realtor to assist you along the way. Contact me today or give me a call at 757-880-2945 and let me help you navigate the process!
The real estate market took a major hit in early 2020 as the Covid-19 pandemic ravaged the world. However, since that point two years ago the market has recovered impressively, with home sales peaking in 2021. As mortgage rates hit a historic low, and the supply of homes trended downwards, the average home prices skyrocketed. This spring market in Virginia isn’t any different. Here are the trends defining the market this spring: What’s the Current State of the Market? The Virginia real estate market has recovered steadily from the lows of the pandemic. As of February 2022, real estate prices
The real estate market is constantly changing, and as it does, it’s important to know whether it’s defined as a seller’s or a buyer’s market. This is the same with every market, including Virginia’s. So, is Virginia in a buyer’s or seller’s market? Before we dive into the question, here’s a brief explanation of both market trends and their signals. If Virginia is a seller’s market, it means there are more houses available, enabling a seller to sell real estate at an inflated price and turn a profit. If Virginia is a buyer’s market, it means the exact opposite. Sellers
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