Tips for Buying & Selling Over the Holidays

Should you buy or sell a home during the holidays? The holidays can be a great time to be in the real estate market for both buyers and sellers, and there are a few reasons why.  

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Should you buy or sell a home over the holidays? Many people are uncertain about whether they should enter the real estate market during the holidays, but the 4th quarter can be a great to buy or sell a home.

As a buyer, the holidays can be an outstanding time to purchase a home. Some of our most cherished memories center around the holiday season. Why not have moving into your house be one of them? I remember a family that was only able to get their Christmas tree moved in before the 25th but it has become such a great story for them. 

OUR MARKET NEVER TOTALLY DIES DOWN!

Secondly, there are still plenty of homes on the market. There is always movement in our local market. There tends to be a swell of activity in the spring, but at the same time, buyers face more competition in the spring. Don’t be afraid to buy during the holidays!

As a seller, keep in mind that buyers looking this time of year tend to be ready to go. Most buyers aren’t out between Thanksgiving and Christmas if they don’t need to find a home quickly. Holiday buyers are typically very serious and already pre-approved, creating a good opportunity to sell your home despite a smaller buyer pool overall.

You will also face less competition this time of year. If you waited until spring to put your home on the market, you could be competing against 10 other houses in your neighborhood. By listing during the holidays, you may only have to compete against one or two homes for sale in your area. Staging and professional photography will also help you stand out from the reduced competition.

If you have any other questions about buying or selling during the holidays, give me a call or send me an email. I have a few other tips to make the whole process more fun and enjoyable for you and your family. I look forward to hearing from you!

5 Easy Steps to Prepare Your Home for the Winter

There are five easy steps you can take to winterize your home. They will help you avoid headaches down the road this winter and keep your home warm and running efficiently.

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What are the best ways to prepare your home for the winter? These five tips will help you avoid major headaches during the colder months.

1. Winterize your hose bibs around Thanksgiving. It's easy to do, but if you don't know how, you can find instructional videos on YouTube, or we can recommend a contractor to you to help out. It will help prevent frozen pipes and water issues in the winter. Additionally, don't forget to remove the hose to prevent ice from making its way into your house. 
2. Clear your gutters and downspouts, especially if you live in a wooded area. Clogged gutters hold excess water and can cause 'ice damming,' which can cause ice to get into your house through the eaves and cause all kinds of issues. 
3. Service your HVAC. This will help the system run efficiently and put less stress on it. If there is an issue, it's better to find out now when it's nice out than when it's below freezing. You should service the unit yearly or twice a year, once during the fall.
4. Check all insulation points, especially as it starts to get cold. There can be a ton of heat lost at your attic hatch, no matter the type. Check around your exterior doors as well, which can be a huge heat loss point. 
5. Make sure windows are completely closed and locked. This may sound silly, but I hear plenty of stories from contractors going to a cold house only to find a window that's open by a half inch in the dead of winter, killing the house's ability to stay efficient and warm.

If you have any questions about winterizing your home or about the real estate market, give us a call or send us an email. We're always here to help.

October Market Snapshot

In our market, sales prices are up and interest rates are still sitting at historic lows. What does this mean for buyers and sellers?

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What’s happening in our local market?

Overall, we’re seeing really great activity. There have been some really good price gains over the second quarter—right around the 4% range. Over the year, we’re sitting at a 2% to 2.5% sales price increase, which is pretty healthy growth. In general, listings are getting great showing activity.

As far as home values go, they’re going to be directly affected by the amount of activity that’s happening in the market, so that 2% to 2.5% increase that we’re seeing tells us that we don’t have a glut of inventory. Though things are moving quickly, we’re not in a pure seller’s market, either. That said, the ratio of a seller’s list price to actual sale price is up almost a whole percent over the second quarter of 2015. This is a hugely positive statistic!

Currently, our market is carrying three to four months of inventory. This generally indicates a market that’s in balance – the number of buyers is sustaining the inventory that’s hitting the market but isn’t eating it up at a rate that would severely deplete inventory. The average days on market can vary between price ranges, but in the area as a whole, we’ve seen 18 to 20 days on market. Our Team Gillies listings in the area’s core price range average 12 to 13 days on market.

Interest rates are still at historic lows.

Interest rates are still at historic lows, so it’s an awesome time to get a mortgage. Money on a home priced between $300,000 and $600,000 is still super cheap. A lot of the government loans are still well under 4% as well. The Fed is about as split on this as we’ve seen, though, so a lot of speculators are looking for a possible rate hike in December.

These numbers mean it’s a good time to be both a buyer and a seller, but it’s an especially good time of year to be a buyer because you have less competition from other buyers that are moving into the area and we’re still seeing a good amount of homes coming on the market. Also, low rates mean your purchasing power near historic levels. I can explain further if you’re interested.

If you have any questions about the market, please feel free to email me or give me a call. I look forward to helping you!

Why Are Housing Inventory Levels Important?

We are here to provide valuable information whether you’re buying or selling.

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Housing inventory is a measurement of the number of homes that are on the market at a given time. We can look at inventory broadly in a market or in different price ranges to find out which section of the market is hottest and which presents more buyer opportunity. In this video I explain how inventory is measured and how the level of inventory affects buyers and sellers. 

A balanced level of inventory is typically defined as three to four months of available homes based on the rate at which homes are being sold. At this level, neither buyers nor sellers have a defined advantage and the market is generally stable. If inventory dips to one or two months’, buyers are forced to compete for the relative lack of homes and sellers have stronger pricing and negotiation leverage. When buyers experience an inventory shortage they tend to make offers more quickly with less negotiation - this puts upward pressure on prices and helps homes sell more quickly. 

A buyer’s market, on the other hand, occurs when there is a surplus of inventory - say five to seven months or more. The tables turn and a buyer gains the leverage in this situation. Instead of buyers competing for the very best listings, sellers have to compete for the best qualified purchasers. If there is only one qualified buyer for every 5 or 7 homes on the market, he or she is a hot commodity and sellers will do what they can to secure that buyer.

WE ARE HERE TO PROVIDE VALUABLE INFORMATION WHETHER YOU’RE BUYING OR SELLING.

Whether you’re buying or selling, we are here to provide valuable information like this to help you make the best decisions for your unique situation. If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

Maximizing Your Corporate Relocation Benefits

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For the fifth video in our relocation series, I want to talk about corporate relocation. In the Greater D.C., Fredericksburg, and Stafford areas, we have a ton of clients with great relocation benefits. It’s important that you are able to maximize these benefits. Here are a few things to think about when preparing for a relocation move:

1. There are a lot of moving parts. It’s important the agent you choose knows what those moving parts are. They need to know about possible problems as well, so they can easily guide you through them. This will make you feel a lot more comfortable with your benefits program.

2. Appraisers. The relocation company may give you a list of appraisers to choose from. The evaluation process is a huge part of reaping the benefits of your relocation services, and we want to ensure you get the top value for your home.

3. Marketing. There are times when a relocation company might recommend an agent or company, but you as the homeowner have got to be your first and best advocate. We can market your home in a way that helps you hit required timelines and have the best shot at incentives that may be offered through your relocation program. 

The key here is that your benefits can set you up to be in an awesome position, so make sure you’re not missing out on anything. We would love for you to give us a call or send us an email to help you maximize these benefits. If you have any other questions, don’t hesitate to contact us.

Are You Prepared for the Appraisal Process?

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One of the most crucial aspects of buying or selling your home is the appraisal process. Today, I’d like to define “appraisal” and go over some of the key parts of the process so that you know how it affects you as a buyer or seller. 

What is an appraisal? The short answer is that an appraisal is a valuation of the property at one point in time. The purpose of an appraisal is for the buyer’s lender to determine whether the property is worth the value that the buyer and seller have agreed upon. This way, the lender can base their loan amount and their numbers off of the current market value.

When a buyer and seller go under contract, the lender is going to order an appraisal. The appraiser will reach out to the show contact (in our case it’s our listing agent) who will go out and visit the house. The appraiser is not there to do an inspection. He or she will come to the home to take photos and measurements prior to completing appraisal report in order to ensure that what is pictured online is accurate. This makes it possible for the appraiser to put an accurate value on the house.


Once the appraiser has finished their report, they’ll then submit it to the lender. As long as everything meets value and there aren’t any conditions or repairs that need to be made, the loan will move forward. The exception to this is when the value doesn’t come in at the value that the buyer and seller have agreed upon. In this event, the process will continue.

We want to make sure the buyer is not paying too much for the house to begin with.

To prevent a low appraisal, we have an appraisal package that we send out to the appraiser before they even go out to look at the house. The reason we do this is because we want to make sure that the appraiser has accurate information about the house before they go out and generate their own opinions. This package includes the best comps we can find, in addition to a list of special features about your house that distinguish it from others that have sold recently. This appraisal package, along with the relationships we have with local appraisers, makes it much less likely for there to be issues with the value of your home when the appraisal comes in.

For our buyer clients, we have less influence over the appraiser; however, before our clients submit an offer, we do an analysis on the pricing. This protects the buyer against any appraisal issues down the road and ensures that they are not paying too much for the house to begin with.

Whether you’re getting ready to buy a house, thinking about selling, or simply have questions about how the appraisal process works, reach out and send us an email or give us a call. We’d be happy to make sure you’re well-prepared for your purchase or sale.

How to Help Your Kids with the Relocation Process

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Today marks our fourth video in our relocation series, and this one’s going to be a little bit different.

What I want to focus on today is relocating with kids. We’ve talked about the stresses involved with relocating in general, and a lot of that is housing related. Today let’s talk about some things that can help your kids specifically with the relocation process.

The first thing to do is have them involved. Get them excited about it. Have them prepped for the timeline and when things are going to happen. Give them expectations, just like we talked about with nailing down expectations for your move timeline. If you’ve got older kids, especially if they’re involved in sports and activities at school, a really great thing you can do is to set up an appointment with school administrators and coaches. This can help avoid a huge stressor for your kids. If they’re in 9th or 10th grade and on a sports team, what’s it going to be like? Set that up, and involve them in the process, because it’s a huge part of their life. Meeting with school administrators can help give them a feel for the school and the culture.

Get them excited about it.

Another thing you can do is drive through communities. If you have younger kids - drive through when the buses are coming through to show them how many new friends they will make. Make sure it’s a place that you feel is like home when you’re driving through at 3 p.m. and 5 p.m. when kids are getting home and people are getting home from work. It’s a great way to start feeling connected with the neighborhood.

One other thing is to use a really outstanding agent as a resource. A great agent is going to know the communities and, in a lot of cases, they’re going to know the schools, the administrators, where the best wrestling program is in the county, and so on. All those things are so important to kids, and you can take a lot of that workload off yourself and let us help you with that.

If you have any more questions or comments regarding relocation, please feel free to contact me. I’d love to continue this conversation with you.

How to Sell Fast When it's Time to Move

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 Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

In part 2 of our relocation series, I want to talk about how to get your home sold quickly in Stafford in the timeline that works for you.

1. Make sure that you're well prepared. We've put together a 75-point comprehensive marketing and photo checklist. If you're in good shape with these items, then you're going to be ready to show your house and get outstanding photos. If we're better prepared than our competition, buyers will notice the difference when they come through your house.
2. Have a team. Sometimes a home doesn't sell and you've got to move, and your timeline can be shorter than you wanted. It can be nerve racking. That's why it's important to have a team, not just an agent. A team can handle everything from showings to marketing, even in your absence.


A great marketing plan goes a long way.


3. A solid marketing plan. If your home isn't getting the exposure that it needs, you're missing out on potential buyers. You have to get good exposure, especially to sell fast and for a good price. The prep makes a good difference, as does professional photography and a video walkthrough. We wanted to feature them on multiple YouTube channels and some of the biggest websites to make sure we're advertising everywhere that our clients should be. A great marketing plan goes a long way.

Stay tuned for more information in our series. In the meantime, please feel free to reach out to us with any questions you may have.

Finding Real Estate Help in a New Town

Looking to buy in the Stafford/Fredericksburg area? Perform a full home search 
 Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

When moving in the Stafford and Fredericksburg area, how can you best prepare yourself? Many people try to start this process alone and start their search online. Although this is a great start, there’s so much you can’t find online. When you’re first planning your next move, you should talk to two people.

First off, you need an exceptional lender to know what price range you can afford within your budget. An online calculator isn’t enough. This person mediates the financing process and provides you the resources you need to make an educated decision for your family.

Secondly, you need an outstanding agent to fight on your behalf. They should be active in the specific neighborhood you’re looking to purchase a home in. They’re familiar with the school districts, builders, and more.

When you hire us, we can help you pre-screen Realtors to pick out top talent. Remember to not only put your ducks in a row in town, but the area you’re moving to. We understand how crucial it is to plan a move before you start packing up that first box. Utilize our team as a resource to mediate this process for you and your family.

As always, if you have any questions about buying or selling a home in the surrounding area, consider me your local real estate resource. Contact me by phone or email with any needs you might have!

What Happens When You Get Word You're Being Relocated?

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 Looking to sell in the Stafford/Fredericksburg area? Get a free Home Price Evaluation

What happens when you find out you're being relocated? It can be a stressful time, and we want to help you avoid as much stress as possible. We help make sure you’re well prepared and you know exactly what to expect going forward.

1. Make sure you get your timeline set as soon as possible. Even if you’re not moving for another six months, having the timeline allows us to create a plan to get you into your next home.

2. What do you need to do to prepare your house for the market? Do you have to make any repairs, or do you just have to add a fresh coat of paint? Either way, we know great vendors who can help get your house ready to go.

3. What will you do when you get there? We will help you get in touch with a good agent wherever you’re going. That way, you can set up some plans with that agent, even if you’re not moving for another six months.

Over the next couple weeks, we’ll go more in-depth on this topic so that you are fully prepared to move when the time comes. In the meantime, if you have any questions, give me a call or send me an email. I would be happy to help you!

What’s the Key to Getting Your Home Sold for Top Dollar?

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We get a lot of questions around this time of year about what people should be doing to get their home ready for sale on the market. Today we want to share three quick tips with you that will not only help you get your home sold, but get it sold for top dollar. Here’s what we recommend:

1. Check off that honey-do list. Make sure any deferred maintenance items, even small ones like minor smudges or paint cracks, are fixed. Buyers will be able to see if they are not, and it will take away from your home’s value in their eyes.

2. Declutter and neutralize. Have you ever been in a model home? The builders know what they are doing when it comes to organizing the home to make it look brand-new. We want to sell that same emotional experience of buying a new home, and we have a better shot at getting them through the door if we can do that.

3. Don’t forget about curb appeal. The first impression buyers will get of your home will be your curb appeal. The first photo that the buyer will see online is of the front yard of your home. If they can’t get past that, they won’t be able to see what’s on the inside. Make sure your lawn is well-maintained and add a pop of color somewhere to make the home stand out.

These are three core things you can do to prepare your home to sell for top dollar on the market. For more tips, we’ve got a 75-point marketing and photo prep checklist we would love to share with you. Just give us a call or send us an email if you want a copy of it, or have any other questions for us. We can’t wait to hear from you!

What Can Buyers and Sellers Expect in Virginia?

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Today we’re going to talk about whether we’re seeing a buyer’s or seller’s market here in Virginia. We’ve had a lot of questions about this lately, and we are going to give you a rundown of exactly what you can expect in this market.

Truthfully, both buyers and sellers are in a great position. Our current inventory has dropped by 9.2% compared to last year, and this low inventory can bump sale prices up for sellers as more and more buyers are bidding on fewer homes. This can lead to multiple offers and bidding wars, which sellers love to see.

 

As far as buyers are concerned, interest rates are still historically low, in the 3-4% range for 30-year fixed loans. The lower the interest rates, the higher purchase prices buyers can qualify for. We are anticipating a strong market for both buyers and sellers this year and if interest rates continue to stay low, sellers are going to continue to be in a great position as well. An interest rate hike would take some buyers off the fence to purchase, which would lead to a lot more activity on seller listings.

If you have any questions, or are thinking about buying or selling, give us a call or send us an email. We would love to hear from you!