Financial Markets Are Rumbling – Should I Sell Now or Later?

Credit: KCM

Credit: KCM

As summer comes to an end, children go back to school, and the days start getting shorter – we often get calls from folks who are thinking of selling in the Spring asking us to stop by to consult with them about what does and does not need doing between now and then.

Well – in light of the current upheaval in the financial markets, our phones are ringing a little more frequently than normal. And we are happy that our clients consider us to be part of their “financial health team”.

We have set up consultations this week to discuss our clients’ short and long term plans and where real estate fits into those plans. We have advised several to stay where they are because their plans are not likely to be influenced by a normal real estate cycle. We have also advised some to move up their timetable. If you would benefit from this type of consultation, ring us at (703) 242-3975 and we’ll set up a time to visit.

Here’s what CEO Terry Belt had to say last week when a past client in Vienna inquired about meeting over Thanksgiving in anticipation of selling next Spring:

CEO The Belt Team“To the extent that your plans for selling are certain, I recommend you go on the market before Spring – some time in late January or February.  Homes sell faster and for more in recent years at that time because of less competition.  I am particularly concerned about next Spring and Summer as I believe we are topped out in the current cycle and we are at the very beginning of a shift.  The inventory in Vienna has almost doubled in the past 6 months, price appreciation has flattened, the contract price to list price ratio has deceased, days on market to sell has lengthened, and buyer/showing activity levels have decreased. The current market is still what I consider very healthy, but I do see changes coming and if interest rates nudge up and the stock market adjusts, I think the trends we are seeing here will not favor Sellers. Interestingly, Gary Keller, the chairman of our company, went on record yesterday predicting a national shift in the market that we will start to feel in the next 6-8 months and a full downturn within 2 years.  He has predicted the last 3 housing cycles in advance very accurately.”

If you would like to speak to one of our Senior Listing Specialists about today’s market – call (703) 242-3975. We are happy to leverage the wisdom and experience we have gained in the previous downturns to YOUR benefit.

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Where Are Home Values Headed?

Keeping Current Matters” has provided us with some excellent information about where home values are headed. Whether you’re thinking of buying or selling a home in Northern VA – you’ll want to check what they had to say:
Home Values Going Up KCM

“Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

  • Home values will appreciate by 4.1% in 2015.
  • The cumulative appreciation will be 18.1% by 2019.
  • That means the average annual appreciation will be 3.4% over the next 5 years.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 10.5% by 2019.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.”

FREE INSTANT Online Home Valuation

———————————————————————————————————————————–In addition to the info from Pulsenomics, we also know the government has indicated it likely that interest rates will rise. In fact, we have seen the FHLMC 30 year rate rise already from 3.84% in May to 4% in June and 4.09% in July. In light of the urgency to buy now, we are holding a special MILLENNIAL EDITION of our “Kiss Your Landlord Goodbye” Seminar.

Homebuyer Seminars Northern VA

Today is a great time to enter the real estate market!  Why throw money away on rent when you can be your own landlord? Freedom rocks. And so does putting money in your OWN pocket instead of your landlord’s!  

Mortgage rates are low (for now!) and you may even be able to pay less by owning than renting. Not sure how the process works? We’ve gathered these local experts to share their knowledge with you:

  • Aaron Gagnon, Loan Officer, Apple Federal Credit Union
  • Brad Pace, Loan Officer, EverBank
  • Chris Melnick, Owner, Double Eagle Title
  • Several local millennials who recently bought their first home
  • The Belt Team, nationally recognized Top 100 Team with Keller Williams Realty

Next Class Scheduled: Sept 30th 6:30-8PM in McLean

Register at: www.TheBeltTeam.com/Classes  (Register FREE before 9/10)

Parents: Are YOU your adult child’s landlord? Send them to our class. Invest in their future!

Here are some of the topics we will discuss:

  • Could I actually pay less by owning than renting?
  • How much money do I need?
  • Do I qualify for a mortgage?
  • What would my payment be?
  • Mistakes to avoid.
  • What about inspections?
  • Search tips & tricks.
  • Best apps to use.

Questions? Call Terry Belt & The Belt Team at (703) 242-3975

National Real Estate Update – August 2015

Interest Rates RisingWondering what’s happening in real estate across the nation?

Well, for one thing, according to FHLMC, the national average for mortgage interest rates went up AGAIN. From 3.84% to 4% when we reported in July and up to 4.09% this month.

This may not sound like a big increase, but here’s what it means in dollars and cents:

$41,417.64

That’s the additional interest you would pay the bank if you had an $800,000 – 30 year loan  – paid monthly. YIKES!

The other reason this small increase of .25% might scare you is that if this trend continues (and most are predicting it will), buyers will be able to afford less, some buyers may be priced out of the market, and sellers will see less prospective purchasers in the market.

All things that point to NOW being an ideal time for both buyers AND sellers.

Watch more “real estate by the numbers” here:

real-estate-agent-Terry-Belt

Call Terry Belt & The Belt Team at (703) 242-3975 for a market analysis “by the numbers” for YOUR neighborhood or the neighborhood you’d like to live in. Every market is different. And in Northern VA, we currently have some markets that are Buyers Markets and some that are Sellers Markets.

GOLF Can Be A Serious Matter. And We’re NOT Kidding!

KW McLean Cares Golf Tournament

Most of what we write about on our blog is real estate. And that’s serious business. But sometimes things come up that are even more important. This is one of them.

Our office is gearing up for October 5th and our SIXTH ANNUAL KW McLean Great Falls Charity Golf  Classic! .

Here’s more info about the charities:

KW McLean Cares is our 501(c)(3) charitable arm. Our motto is “We Give Where We Live“. And so we have chosen two local charities to benefit from our KW McLean Charity Golf Tournament & Auction: “Our Military Kids” and “Semper Fi Fund“.

Our Military Kids Our Military Kids provides support in the form of grants to the children of National Guard and Military Reserve personnel who are currently deployed overseas, as well as the children of Wounded Warriors in all branches. The grants pay for participation in sports, fine arts, camps, and tutoring programs that nurture and sustain children while a parent is away in service to our country or recovering from injury.

You might recognize the name Gabby Douglas. She’s a young athlete who won 2 gold medals in gymnastics at the Olympics in London last year. Well – guess who received a grant that enabled her to attend a gymnastics camp 6 years earlier in Texas with renowned coaches Bela & Marta Karolyi? Yup – Gabby Douglas. (You can read more about Gabby & Our Military Kids here.)

Semper Fi FundThe second charity we selected is “Semper Fi Fund”. The Semper Fi Fund, and its program America’s Fund, provide immediate financial assistance and lifetime support to post 9/11 wounded, critically ill and injured members of all branches of the U.S. Armed Forces, and their families, ensuring that they have the resources they need during their recover and transition back to their communities.

Here’s how you can help (and have fun while doing so!)

GOLFERS: This year’s event is back at Trump National! Be one of the first 120 to register to ensure that you will get to play on the newly designed Championship Course–home of the 2017 Senior PGA. Space is limited. Your $350 fee will provide you with your round of golf, a cart, breakfast, lunch, beverages and a gourmet reception/dinner, open bar, live music, plus a live and silent auction ticket! We expect a sell-out, so register NOW! (Register here.)

NON-GOLFERS & GOLFERS: LIVE & SILENT AUCTION: In the evening, we have a great event plan that will include a gourmet reception/dinner, open bar, live music. The highlight will be a silent & live auction. So bring your checkbooks & credit cards! You can check out last year’s auction list here to get an idea of how much fun we’ll have! (Get your holiday shopping done early!) Tickets are $75. (Buy tickets.)

SPONSORS: We are seeking sponsors for the event. LOTS of opportunities remain. And 100% of sponsor donations go to the charities. Whether you are prepared to donate $10,000 to be a Presenting Sponsor – or $500 to sponsor a Tee Box, there’s an opportunity to help. This is a PREMIUM opportunity to get your name & face in front of quite a few Realtors, CEOs and other Power Brokers and Power Connectors in Northern VA!

CAN’T COME, BUT WANT TO DONATE: You can donate online here.

Contact The Belt Team for more information.

1637 Lozano Dr Vienna VA 22182 – Listed by The Belt Team – Open House August 16th

1637 Lozano Dr Vienna VA 22182 has just been listed by The Belt Team and will be OPEN ON SUNDAY, AUGUST 16 from 1-3PM.

Here’s a sneak peek:

More info, price & additional photos of 1637 Lozano Dr Vienna VA 22182

Call Kevin Kleifges & The Belt Team at (703) 242-3975

Welcome to this beautiful classic colonial sparkling with updates!  Delightful and tranquil location yet just minutes to the Town of Vienna, Tysons Corner, Reston Town Center and easy commuting.  Along with 3 finished levels, 4 bedrooms & 3.5 baths, this property offers a flowing floor plan, lovely hardwood floors, crown molding, an eat-in kitchen with stainless steel appliances that is open to the family room, a separate dining room, wood burning fireplace, and living room.  Other exceptional features include a fantastic master suite with sitting room & terrific bath, a finished lower level with spacious rec room and a back deck. All of this & more on a premium almost half acre lot!

Homes FOr Sale Sun Valley Vienna

For more questions or for a specific update on YOUR neighborhood – call Kevin Kleifges & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.

Best Real Estate Agents in Vienna VA

Vienna Real Estate Market – July 2015 Stats

Vienna Real Estate Update

Wondering what’s happening in the greater Vienna real estate market?

  •  The average price of home sales rose in July as compared to June – and was almost $800,000! (Keep in mind that homes that go to closing in July likely went under contract in May or June.)
  • Average days on market for those homes sold was the same as the previous month – 54 days.
  • It looks like we are seeing a bit of a slowdown in the market. New listings were down 24% in July from June. And the number of homes that went under contract dropped 29% from June.

(Note: Our Vienna update includes zip codes 22180, 22181 & 22182. If you’d like a personalized analysis – email Terry Belt & The Belt Team.)Click here to see the Vienna homes that have been on the market for less than a week!

Here’s a quick update by the numbers for July 2015 Home Sales:
 
 Housing Market Vienna VA 2015

For more questions or for a specific update on YOUR neighborhood – call Terry Belt & The Belt Team at (703) 242-3975 for a FREE Buyer or Seller Consultation. The Belt Team is Vienna’s Top Real Estate Team and has sold more homes in Vienna than another other Realtor or team since 1973.

2765 Centerboro Dr #349 Vienna VA 22181 – Listed by The Belt Team

2765 Centerboro Dr #349 Vienna VA 22181 was just listed by The Belt Team! Here’s a sneak peek!

Price and LOTS more photos of 2765 Centerboro Dr #349 Vienna VA 22181

Welcome to Marquis at Vienna Station! Not only is this lovely two bedroom/two bath condominium mere minutes from all the amenities of the Town of Vienna, it’s across the street from the Vienna Metro! A commuter’s dream with 2 reserved parking spaces!

Enjoy all the amenities the Marquis has to offer, such as…

  • State-of-the-art fitness center
  • Indoor half basketball court
  • Outdoor pool
  • Billiard & game room
  • Media room
  • Business center
  • Cyber café
  • Party room

Price and LOTS more photos of 2765 Centerboro Dr Unit 349 Vienna VA 22181

Call Tom Reilly & The Belt Team at (703) 629-1263 to schedule a showing!

Vienna Condos For Sale

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