It's the most wonderful time of the year...

There are many reasons to buy or sell a house in the Winter.

"But winter is the slow time for real estate Nicole!"

      ...Exactly! :D

It's all relative, and slow does not mean non-existent. There are ALWAYS people in the market place - especially here in Northern Virginia. Fewer people in the market means fewer people who are competing with you - no matter if you are buying or selling. The market functions on supply and demand; lower competition can lead to successful transactions for both buyers and sellers. The people who are in the market this time of year are motivated ready to make it work so great transactions happen in the colder months.

Traditional 'wisdom' is that winter is a slightly better time for buyers, since they are less likely to be competing with other buyers - but data also shows that winter home sales in recent years have sold faster, with a increased chance of getting better than the asking price.

My take on this is that more often than not, those people who are in the winter market are taking a reasonable approach to the process. The Spring Fever can lead to unrealistic expectations on both sides, but in winter cooler heads often prevail.

No matter the time of year a home in good condition, priced correctly for the market, will sell quickly. No matter the time of year a buyer with great representation will be able to find the best home for them and negotiate a great contract for it.

If you'd like to talk more about Real Estate in Northern Virginia email me
nicoleduffey@kw.com

Novmber 2014 Northern Virginia Housing Market Update

The median sales price DC Metro area continues to rise - November 2014 saw a 1.3% increase from last year. The number of closed sales fell slightly, but the number of single family homes closed increased 6.3% from this time last year.

What that means for DC metro homeowners is a pretty balanced and stable market. New lending options requiring only a 3% down payment for 2015 are poised to make this a great year for first time home buyers, and move up, or right sizing sellers.

The median sales price of a home in Fairfax County was up 3.4% in November from last year.
November 2013   $439,900
November 2014   $455,000

If you've not been tracking the housing market since the recession (and who could blame you) we are back to a stable and more "normal" market. The foreclosures, short sales and bank owned properties are more or less gone (back down to pre-recession levels) and so the inventory we have is mostly healthy "normal" home owners selling and buying. The balancing has caused some investors to back out of the market for now, which is great news for more traditional home buyers who won't be as likely to compete with cash offers from investors.


Monthly Reminder: Real Estate is always a LOCAL market. Just because your home (or your dream home) is in the DC Metro area doesn't mean that this analysis will apply to that property in particular. If you'd like a detailed analysis of a particular neighborhood because you're thinking of buying or selling then give me a call or send me an email - I'm happy to help. 

nicoleduffey@kw.com

703-303-2889

Whats an "affordable townhouse" in Northern Virginia?

I get asked a lot about "affordable townhomes" in Northern Virginia. 

The smart first question is "Well my friend, what do you consider affordable?" Since that can be quite different from family to family, person to person. Each buyer is unique in their needs and wants with their new home purchase. 

My focus is largely in townhomes in the Fairfax County Parkway corridor of Northern Virginia from Centreville east to Lorton. I live in West Springfield and talk about Burke VA a lot too. 

As a thought exercise let's say you're looking to purchase a town house in NOVA and want to spend $300,000 or less. Here's an idea of what your options would look like right now: 

As you can see there are a few options in the Springfield/Burke area, but not many. You'd have MUCH more choice in your new home if you chose to consider Centreville in your search. 

But let's say that Burke is where you want to end up - an increase in your price opens up many more options in Burke. 

  

I hope that this was informative for anyone thinking about buying a town house in Northern VA. If you'd like to discuss this in depth I'd be happy to chat, give me a call 703-303-2889.

October 2014 Northern Virginia Housing Market Update

The median sales price DC Metro area is on the rise - October 2014 saw a 5.3% increase from last year. The number of closed sales fell slightly, but the reduction was from the distressed properties section of the market.

What that means for DC metro homeowners is a pretty balanced and stable market. Active listings are on the rise and have been increasing since the lows of the recession. This is good news as more homeowners find their property values sufficient to pay off their mortgages, and more houses for sale means more choices for buyers.

The median sales price of a home in Fairfax County was up 2.3% in October from last year.
October 2013   $440,000
October 2014   $450,000

If you've not been tracking the housing market since the recession (and who could blame you) we are back to a stable and more "normal" market. The foreclosures, short sales and bank owned properties are more or less gone (back down to pre-recession levels) and so the inventory we have is mostly healthy "normal" home owners selling and buying. The balancing has caused some investors to back out of the market for now, which is great news for more traditional home buyers who won't be as likely to compete with cash offers from investors.


Monthly Reminder: Real Estate is always a LOCAL market. Just because your home (or your dream home) is in the DC Metro area doesn't mean that this analysis will apply to that property in particular. If you'd like a detailed analysis of a particular neighborhood because you're thinking of buying or selling then give me a call or send me an email - I'm happy to help. 

nicole.duffey@gmail.com

703-303-2889

3 Great Reasons You Need a Realtor - Explained with memes

As a Realtor I serve as an expert adviser for people looking to buy or sell a home.

It sounds simple, and in some ways it is:

     Step 1. Know all the things!
     Step 2. Tell people about all the things!






With the introduction of the internet to the real estate space, it is absolutely true that anyone who wants to can become educated about how real property is bought and sold, best practices for each step of the process, and what is for sale at any given time. There are books, and classes and websites and YouTube videos... the info is out there.

but

My guess is that if you can afford to own a home, you likely have something taking up most of your time already, something other than becoming an expert in real estate - much less a expert in the local market where you want to buy or sell.

That's why I'm here.

I work full time to stay current on all aspects of the Northern Virginia market and you have access to my time and expertise when I become your Realtor®. Whether buying or selling, my job is to protect your interests and save you money as I walk you through the process making sure you know everything you need to, each step of the way: decreasing your stress through what is a very complex and stressful process, while increasing the success of your end result.

There are a ton of articles online explaining why my job is a thing that still exists in the age of the internet. Here are a few for your consideration. Below I've summed their points up in meme fashion because this is my blog and I can. Enjoy!

If you'd like to read more: 

http://www.forbes.com/2010/05/25/why-you-need-real-estate-agent-personal-finance-commission.html

http://www.realestate.com/advice/why-you-need-a-real-estate-agent-93132/

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/08/22/why-do-real-estate-agents-still-exist/

http://www.realtor.com/advice/why-you-should-use-realtor/

https://www.facebook.com/notes/nicole-duffey/food-for-thought-the-best-deal-in-real-estate/1519200464978284?pnref=lhc

Dear Entrepreneur, your friends should like your Facebook business page

Dear Entrepreneur,

You have a FaceBook Business page for good reasons (that we won't get into here). Maybe you're a Realtor® like me, or maybe you have an etsy shop, or a photo studio, sell Avon, etc.

You also have friends. My definition of friend in this case is: people who think you are a quality human. 

They should like your FB Biz page.

Yes all of them. If they have a FB account they should like your Biz page.

Why?

1. Because they like YOU!

If you're an entrepreneur, you are what you do! Your business is so much more than a job to you. It's your income, sure, but its also your heart and dreams. Your friends should support that.

2. Because they WANT to help you.

If they are your friends they are excited to see you succeed. Having likes on your Biz page helps your business in so many ways - most importantly providing legitimacy to your potential customers through their likes ("Oh, this is a real business, not some random thing on the internet.") and helping convince the FB algorithms to actually SHOW your content to real people.

3. Because it is FREE and EASY to like your Biz page. This is a very simple way for your friends to help your business. They don't have to sign up for notifications. They don't have to engage (like posts, comment, share) if they don't want to, they simply need to click like.

If your friends are afraid to like your page because they are not planning on patronizing your business for some reason assure them that its OK! It is VERY NORMAL to like a page just because they like the business (you) and want to support it somehow.

According to a study done by consulting agency Syncapse last year, almost 50% of Fans Liked a Page because they simply wanted to support their brand – that’s awesome! However, 42% of fans Liked a page in order to get a coupon or discount while 35% Liked a page to participate in contests. Read more: http://blog.heyo.com/like-gate-is-dead/#ixzz3Hdy5W0CY

So go ahead and ask your friends to like your business page. There's no reason not to - your friends want you to succeed, they may just not know how to help - and your, like my FB Biz page is a great place to start! 

When should I talk to a Realtor?

You're thinking about the future.

There are thousands of reasons people buy and sell homes.

    Maybe your last child graduating from high school soon.
    Maybe you're getting married next spring.
    Maybe you're growing your family and know that you'll need more space.
    Maybe your dreams are coming true, or your heart is getting broken.

Trust me, as Realtors we have heard it all, and we are honored to be a part of your family's journey no matter where in your story you are.

When should you talk to someone about buying or selling? Even if you think you are years away from sitting at the closing table, if you have any questions about how to get there, there is no reason to not have them answered today. It doesn't hurt to ask.

You may find there are things you can start doing now to set yourself up for success.

Just drop me a line.

Nicole

September 2014 Northern Virginia Housing Market Update

DC Metro home prices are overall pretty flat and holding close to what they were this time last year.
Nothing dramatic to report this month.

What that means is a balanced stable market. However, inventory is on the rise and has been increasing since the lows of the recession. Good news as more homeowners find their property values sufficient to pay off their mortgages, and more houses for sale means more choices for buyers.

The median sales price of a home in Fairfax County was down 1.3% in September from last year.
September 2013   $456,000
September 2014   $450,000

If you've not been tracking the housing market since the recession (and who could blame you) we are back to a stable and more "normal" market. The foreclosures, short sales and bank owned properties are more or less gone (back down to pre-recession levels) and so the inventory we have is mostly healthy "normal" home owners selling and buying. The balancing has caused some investors to back out of the market for now, which is great news for more traditional home buyers who won't be as likely to compete with cash offers from investors.

Monthly Reminder: Real Estate is always a LOCAL thing. Just because your home (or your dream home) is in the DC Metro area doesn't mean that this analysis will apply to that property in particular. If you'd like a detailed analysis of a particular neighborhood because you're thinking of buying or selling than give me a call or send me an email - I'm happy to help. 

If you want more data RBI has tons of numbers HERE.

Welcome

Hi!
Thank you for checking out my blog!

As a Realtor® in Northern Virginia (metro Washington DC) I have a lot to say about the real estate business, the local and national housing market, the ups and downs of home ownership, entrepreneurial/soloprenurial endeavors, how I am loving life in NOVA and most importantly, what its like to buy and/or sell a home here!

I plan to use this space to collect my ideas and anecdotes regarding a wide set of topics pertaining to real estate, NOVA life, online marketing, becoming a real estate agent, what my work life is like as a Realtor® and of course: home-ownership in general.

If you have anything you'd like to see me address please feel free to email me nicole.duffey@gmail.com

And finally - if reading blogs isn't your thing check me out on these other social media sites:

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And if you are searching for a new home in the Northern Virginia area there are lots of great resources or you here www.buyandsellnovahomes.com

Thanks for stopping by!