Category: Real Estate Market

Impact of Rising Interest Rates on Mortgage Plans The Concern Around Increasing Mortgage Rates The recent and rapid increase in interest rates has certainly created concern. While the 11 increases in the Fed Benchmark Rate since the Fed began its inflation fight in March 2022 do not have a direct impact on mortgage rates, 11 straight rate increases currently the top story all over the media does shock the market. Mortgage rates have increased from a low of 2.96% in 2021 to an average mortgage rate close to 7% in 2023 creating concern for prospective buyers. Understanding the 30-Year Mortgage...

Arlington, Virginia, is a thriving urban area with a robust real estate market. The city is known for its high-quality schools, excellent public transportation, and vibrant cultural scene. Navigating the Arlington real estate market can be complex. This is true whether you’re a seasoned investor or a first-time home seller.   This infor will give you an overview of the market. It will also provide practical advice to help you make the most of your real estate transaction. Understanding the Arlington Real Estate Market Key Market Trends Rising Property Values: Over the past decade, property values in Arlington have consistently...

Selling a house can be daunting, especially when you need to figure out the right time to sell. The timing of your home sale can significantly impact the selling price, the number of offers you receive, and the time it takes to sell your property. In Arlington, Alexandria and the surrounding Northern Virginia area, there are certain times of the year are considered better for selling a house. And according to REALTOR.com, there is a week that represents a balanced selection of market conditions that favor sellers. “The week of April 16-22 is expected to have the ideal balance of...

The real estate market has changed a lot in less than a year, mainly due to higher interest rates. To help make sense of it, we’re breaking down what this means for buyers and sellers, how we got here, and where the market is going. Multiple rate increases by the Federal Reserve have drastically increased what were record-low mortgage interest rates. The average mortgage rate at the beginning of 2022 was 3.22% and was 6.70% by the end of September. For a $500,000 home with 5% down, the difference in monthly payment is over $1,000 per month! To put it...

The **Fairlington real estate market in Q1 2022** reflected continued buyer demand and an active housing market in Arlington, Virginia. This quarterly market report provides a look back at Fairlington real estate trends from January through March 2022, including home sales, pricing, inventory, and days on market. Whether you are researching past Fairlington home values, comparing market conditions over time, or interested in the neighborhood’s real estate history, this report offers valuable insight into the market during the first quarter of 2022. Explore the data and trends to better understand how Fairlington homes were performing during this period and how...

Arlington, VA Overwhelmed with options in a competitive market, a new trend in real estate is emerging as home sellers are eschewing customary methods of selecting the winning bid.  While many traditional facets of an offer – price, closing date, and contingencies – are still in play, some sellers have begun entertaining a more unconventional way of selecting their buyer: trial by combat. “I received seven offers on my home after the first open house,” says Shirley W. of Arlington’s popular Fairlington neighborhood.  “And one of them had this nice letter from the buyer.  He mentioned that he was a martial...