Tuesday, April 7, 2020

Why Experience Matters

Today I’m sharing why experience in the real estate market matters now more than ever. During the Great Recession of 2008, things went a bit berzerk in the market. We at the AJ Team sold a ton of homes during that time; we learned what to do to not only keep our business afloat, but also how to help our clients in uncertain times. That is particularly needed in the volatility of today’s market amid health scare concerns. Think about it: Would you hire a doctor or lawyer that had no experience? To learn more about our team’s experience in difficult times and how we’ll help you now, watch the video above.

Tuesday, March 31, 2020

These Are Challenging Times, but We’re Still Here to Help

The DMV real estate market is still very active, but the way the industry does business has changed in an instant. These are challenging times, but buyers still need to buy, and sellers still need to sell, so we’ve adapted to assist you no matter what your real estate needs are. Today’s message is not just about real estate, though: We want to let you know that we’re here for you if you need help with anything at all.

Thursday, March 12, 2020

How is the Coronavirus affecting our local housing market?

How will the coronavirus affect the DMV real estate market?

Everyone has been asking how or if the coronavirus will impact the real estate market. There are three key ways we may see an impact:

1. Interest rates have dropped. Just let this sink in: For a 15-year fixed-rate mortgage on an investment property, I was quoted at 3.5%! I’ve never seen rates that low.

2. Inventory low across the board. Ours has only been a seller’s market in most cases because inventory is so low. If there is a pause in buyers purchasing homes, we may see inventory levels begin to catch up. It doesn’t take much to scare buyers.

Sellers shouldn’t get complacent.

People are now more hesitant than ever, and that means sellers shouldn’t get complacent— the hyper seller’s market we’ve been in might not be here in a few months. If homes sit on the market a little longer, this could swing us back to a balanced market.

3. Home values. We haven’t had a decline in real estate values in nine to 10 years—we are in the longest local real estate recovery in history, so could coronavirus be the game-changer?

In the end, there are so many different things that can affect local real estate like elections, interest rates, inventory, consumer confidence, etc. We also live in a very global-centered area, which means that we have money coming in from many different countries and that we’re more globally affected when it comes to real estate.

If you have any questions about the market or how it’s likely to be affected by coronavirus or other factors, don’t hesitate to reach out to me. I’d be happy to speak with you.