Whew!  Mortgage interest rates, inflation, the supply of homes at record lows, and it's still a seller's market.  There's no doubt that there's a lot going on right now in the economy and in the real estate market.  It can be overwhelming, confusing, and down right frustrating.  And when you're frustrated, a lot of times, you can become paralyzed.

It's totally understandable to be overwhelmed right now.  The good thing is, we've prepared this 2023 Fall Home Selling Guide to break it all down, show your the facts (not the fear), and the graphics to help it to all make sense.

Here are some of the headlines in this quarter's guide:

• How Equity is a Game Changer for those Looking to Sell
• Today's Housing Inventory is a Sweet Spot for Sellers
• Your Needs Matter More than Today's Interest Rates

Download your free copy today.  You're already here, so there's no registration.  I want you to have the right information, and the accurate information you need to help you make the best decision for you and your family when it comes to selling your home in today's market.  When you're ready, let's connect and put the right plan together to help you get to where you need to be on time.

Beautiful Tayloe Ridge Home Just Sold

This luxurious Tayloe Ridge home has just sold.  Only two years young, this home included modern finishes, an abundantly spacious floorplan, and lots of storage, just what today's buyers are looking for!  With over 2800 square feet, this home had a spacious main level that's perfect for receiving and entertaining guests and a comfortable eat-in kitchen with oversized island and top-of-the-line appliances. The upper level offered a full laundry room (not closet), wide hallway, and larger than standard sized secondary bedrooms, and a primary bedroom with luxurious bath.  The lower level had 9' ceilings, a true 4th bedroom with full-sized window and closet, full bath, and additional storage.

Located between the Cardinal Drive Corridor and Dale Boulevard, this is home near Fannie Fitzgerald Elementary School is great for commuters who need to quickly get to I-95 for a north- or south-bound commute.

What makes me different as a top listing agent?  This seller called me after being frustrated with the previous listing agent.  Even though we're in a seller's market, the previous agent did not have a defined marketing plan or a communication plan to capture as many buyers as possible or to keep the seller informed on market conditions and showing feedback.

We received not only one offer, but three!  The seller had an assumable loan, which we incorporated into our marketing strategy, and one of the offers that we received was from a buyer who wanted to assume the loan (which had a 2.25% interest rate).

Are you considering selling your Woodbridge VA home?  If so, I'd love to interview with you to see if I can help you sell your home on your terms.  Let's connect so we can put together the right strategy for you.

What Barbara Corcoran Says About Mortgage Rates and Home Prices

'Shark Tank' star Barbara Corcoran recently appeared on Good Morning America to chime in on mortgage rages and prices.  Here's what she had to say:

Corcoran explains,

"The housing market is surprisingly strong, everybody's surprised by it. Houses are not staying on the market, they all sell, one third of them sell for over ask price, and there are just not enough houses to go around. So, as a result of that, the housing market is as strong as ever and it's so frustrating for buyers."

For those asking about waiting until the interest rates come down, Corcoran predicts,

"Every buyer on the sideline is going to jump into the market...and houses are going to go up in price all over again."

Does the Alexandria VA real estate market back up Corcoan's assessment?  Let's take a look.  

Regarding housing not staying on the market long, here's how long it's taking homes to sell:

When you look at the interactive chart, you'll see that it's like slicing through a piece of bread.  Clearly December 2022 and January of this year, buyers had time to look at home and think about what they were buying, but notice the dive that started in February.  Homes went from a median of 34 days on the market, to 12.  And February was the last month (the second month, first quarter) where we had double-digit days on the market.

Are homes in Alexandria VA selling for over asking price:

Can you spot the window of opportunity that buyers had?  Yep, right around the end of the year 2022.  In November 2022, Alexandria homes sold at 98.4% of original list price, in December 97.8%, and at the very start of 2023 for 97.5%  After January, sellers were getting exactly what they were asking, or more.

And finally, what about the statement, "there's just not enough houses to go around.";

For this, I wanted to go back 10 years so that you can really grasp and follow the decline in inventory.  Remember, in order to have a bubble, it must be preceded by a flood of listings.  When you look at the number of active listings in Alexandria VA, you'll see that we're not even close to the number of active listings that we saw in 2013-2018.  So, we would need double the number of houses for sale, and we still wouldn't be close to the levels of inventory that we saw in 2008 when the crash happened.

What are your thoughts on Barbara Corcoran's comments and the Alexandria VA real estate market?  Comment below.

Real Estate Review |
What Are the Experts Saying About the Spring 2023 Housing Market?

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.

Take a look at what the industry experts are saying right now about the spring housing market and what it means for you:

Selma Hepp, Chief Economist, CoreLogic:

“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.”

Greg McBride, Chief Financial Analyst, Bankrate:

“I don’t expect big moves in prices in the span of a month, but like the flower buds of spring, the housing market is showing signs of improvement. A pick up in activity with inventory still low does bode well for home prices.”

Rick Sharga, Founder and CEO, CJ Patrick Company:

“If you can find a home you love and can afford at today’s prices, don’t wait. Home prices in most of the country are unlikely to crash, and mortgage rates will only come down very gradually if they decline at all this year.” 

Jeff Tucker, Senior Economist, Zillow:

“The market is still much friendlier this spring for buyers who can overcome affordability hurdles, but buyers are going to see more competition than they might expect because there are not many homes on the market to go around. New listings are increasing, which they almost always do this time of year, but not nearly as quickly as usual.”

Active Listings in Alexandria VA

Take a look at the inventory of homes in Alexandria VA over the past two years:

Use your mouse to hover over the interactive chart above.  As you can see, we're entering the spring market with an inventory of homes in March 2023 4.1% higher than March of last year.  But in looking at the overall trend, you can easily see how the inventory levels in Alexandria VA are nowhere near what they were in 2021.  This goes to Jeff Tucker's point where you can expect to see buyers competing, simply because there's not a lot of homes to choose from in the market.

Bottom Line

If you’re thinking about selling your house, this spring’s a great time to do so while inventory is still so low. And if you’re in a good position to buy, lean on your local real estate professional for the best advice. Whatever your plans, let’s connect to make sure you’re able to navigate the spring housing market with confidence.

Coming Soon | 1BR Reston Condo at The Savoy

Reston Town Center Condo Coming Soon

Thinking about renewing your lease? This condo may be an opportunity for you to own for less than rent.  Why not take advantage of low monthly condo fees with an abundance of community amenities, walking distance to metro, and a move-in home that has been freshly painted, plus a garage space that conveys.

Located steps away from the Reston Town Center, Inova Reston Hospital, and close to metro, this second floor condo will be listed at $310,000.  Who wouldn't want to be close to a wide variety of restaurants and shopping, also Dulles Toll Road, and Fairfax County Parkway.

Interested in More Information?

The address is 12000 Market Street, Unit 242, Reston VA.  To be notified when this home goes active on the market, give me a call at 703-623-8759 or fill out our Contact Form today.  

• More condos for sale in The Savoy at Reston Town Center
• All condos for sale in Reston
• Condos for sale in Fairfax
• See if you're eligible for Down Payment Assistance

Why Aren’t Alexandria VA Home Prices Crashing?

There have been a lot of shifts in the Alexandria VA housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer on a national level. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

“[H]ome prices will be steady in most parts of the country with a minor change in the national median home price.”

You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low prices will go:

“We simply don’t have enough inventory. Will some markets see a price decline? Yes. [But] with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”

As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now.

Bottom Line

Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households

Let's face it, keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks.

The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.¹ Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.²

The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles of unopened mail or a messy kitchen reminding us of work to be done. And don’t we all feel more inclined to entertain family and friends when our homes are well-kept?

That’s why we’ve rounded up our favorite tactics—from overall strategies to little tips and tricks—for keeping things tidy without spending all our spare time cleaning.

Set a Schedule for Daily and Weekly Cleaning

We’ve all been there—you put off vacuuming or mopping your floor for a few days, only to realize that weeks have passed. Creating a cleaning schedule that works for you is the best way to stay on top of things and avoid overwhelm. Here are a few of our favorite strategies:

1. Designate a day of the week for each task—then, add them to your calendar so you can’t forget.
2. Create a shared schedule that assigns specific responsibilities to each member of the household. Post it in a prominent place, like on the refrigerator, or create a shared digital calendar.
3. Carve out 15 minutes a day for cleaning and decluttering. Set a timer on your phone and get as much done as you can before it goes off.

It may take some trial and error to find the tactics that work best for you. The most important thing is to make a habit of cleaning so that clutter and grime don’t have a chance to build. And if you’d like some professional help, reach out for a referral to one of our favorite cleaning services!

Tackle Bigger Chores Seasonally

Many home care tasks are seasonal by nature and only need to be completed once or twice a year. But when we don’t have a plan to tackle them, it’s all too easy to put them off. Here are a few tips to stay on top of these chores:

4. Mark days on your calendar in advance to attend to annual or semi-annual chores, like cleaning gutters, washing windows, turning mattresses, and shampooing carpets.
5. Schedule just one primary task each weekend instead of blocking out a full two days. This will help ensure a good balance between chores and relaxation.
6. Designate a date two to four times a year, depending on your lifestyle, to put away out-of-season items like clothes, holiday decorations, and sporting goods.
7. Take some time to sort through your seasonal items when you pack them away. Then you can toss, sell, or donate items that you no longer need or enjoy.

Remember—breaking down these larger tasks can make them less overwhelming. If you space them out so that you can handle them one by one, even the most time-consuming chores become a lot more manageable.

And since all your time is valuable, don't hesitate to delegate these larger home care tasks to professionals. Give us a call for a list of our recommended service providers.

Reduce the Barriers to Cleaning

Set yourself up for success by ensuring you have the tools on hand to tackle small tasks with ease. Here are a few ways to make your cleaning supplies more accessible:

8. Store a broom, dustpan, and vacuum on each floor of your home so they’re easy to reach.
9. Stash containers of disinfecting and glass wipes under every sink for a mid-week wipe-down.
10. Place extra bags beneath the liner of your garbage pails, so you’ll have a replacement ready when you take out the trash.
11. Keep a paper shredder and recycling bin handy so you can dispose of unwanted mail as it’s opened.

By strategically placing your tools and supplies in the locations where you’re most likely to need them, you’ll make cleaning less of a chore and more of a habit.

Stop the Clutter Before It Starts

From coats to shoes to mail, it’s all too easy to find clutter taking over your home. Once these piles start to form, they can feel overwhelming—which only makes it harder to address them.

To avoid this problem, stop the clutter before it starts. Assign every item a home and create storage spaces and “drop zones” in key locations.³ Here are a few ideas to get you started: 

12. Install coat hooks and shoe racks in the entryway for easy access.
13. Add a key caddy or shelf for essential items to get you out the door.
14. Hang a letter bin to capture mail and newspapers as soon as you walk into the house.
15. Place a donation box in each closet for items you no longer want or need.

It can take a little time to get in the habit of returning items to their assigned space. But once you do, staying on top of clutter will become far more manageable.

Are you considering a larger organizational upgrade, like a custom closet or pantry system? Reach out for a free consultation to find out how the investment could impact the value of your home! 

Tackle Small Tasks Right Away

Sometimes, the mental load of thinking about a chore you need to do is worse than the chore itself. Plus, handling small tasks right away can reduce the need for lengthy cleaning sessions.³ 

Try working these changes into your routine:

16. Learn to clean as you cook, rather than piling it all up for later. As you wait for water to boil or food to cook through, wash the bowls and utensils you used for prep.
17. Hang bath towels on a bar immediately after use. By allowing them to properly air dry, you can cut down on the frequency of laundering.
18. Bring items with you when you leave a room. For example, return plates and cups to the kitchen right away rather than letting them stack up in your home office.
19. Take out the trash when you leave for work, school drop-off, or errands. This will save you the time and hassle of a second trip.

If you implement these small changes, your home will stay neater—and you’ll minimize the number of dedicated cleaning sessions you need to take on each week.  

Embrace an Evening “Shutdown” Routine

Kitchens can get dirty and cluttered fast. But a few minutes spent cleaning up each evening can prevent the mess from getting out of control.⁴

Imagine your kitchen is a restaurant and you’re tidying it up before closing down for the night. These simple steps will prepare you for the morning rush:

20. Wipe down all surfaces, including countertops, stove, microwave, and sink. Then toss your soiled washcloth in the hamper and lay out a fresh one for tomorrow.
21. Load and run the dishwasher every night so you can empty it the next morning.
22. Prepare for breakfast by programming your coffee pot and setting out some grab-and-go options.

We all know it can be hard to find the energy for chores in the evening. But if you complete these small tasks each night, you’ll start the next day off right in a tidy, clean kitchen. 

Think Outside of the Box When It Comes to Storage

Most of us have limited storage space. Unfortunately, without the right spots to stash our items, it’s easy to become disorganized.

But we’ve found that using household items in innovative ways can help keep mess and clutter under control.⁵ Here are a few of our favorite swaps:

23. Place a magazine file in your kitchen for cookbooks, takeout menus, and meal kit cards.
24. Hang a pocket-style shoe organizer inside your pantry door to store granola bars, spice jars, and other small items.
25. Separate dress and athletic socks by turning an old shoe box into a drawer divider.
26. Repurpose jam jars by using them to store office supplies or bathroom essentials.
27. Store out-of-season clothes inside rarely-used suitcases, so all that space doesn’t go to waste.

A little creativity goes a long way when it comes to making the most of your space. Just be sure that you’re creating systems you can stick with and not putting things where you might forget about them later!

WE’RE HERE TO HELP YOU MAKE THE MOST OF YOUR HOME

Keeping your home clean and organized can be a continuous struggle—there’s no need to feel ashamed of that. But taking the time to implement systems that work for you can make life more pleasant and less stressful in the long run.

Remember, we’re not just here to help you buy or sell a home. We want you to love living in it, too. Reach out today if you need referrals for house cleaners, window washers, or other service providers that can help you make the most of your space.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     Healthline -
https://www.healthline.com/health-news/5-health-benefits-of-spring-cleaning

2.     Forbes -
https://www.forbes.com/health/mind/mental-health-clean-home/ 

3.     My Domaine -
https://www.mydomaine.com/house-cleaning-schedule

4.     Housewife How-Tos -

https://housewifehowtos.com/clean/10-tips-to-keeping-a-clean-house/

5.     Better Homes and Gardens -

https://www.bhg.com/decorating/storage/projects/simple-solutions/

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Buying a Home in Alexandria VA |
How Homeownership Is Life Changing for Many Women

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.

Why Is Homeownership So Important to Women?

The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.

On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:

“For single women, housing has always made up a large share of total assets. Over the last 30 years, the average single woman’s wealth has increased 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, and housing has remained the single largest component of their wealth.”

The financial security and independence homeownership provides can be life changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.

A recent report from the National Association of Realtors (NAR) shares the top reasons single women are buying a home right now (see chart below):

Bottom Line

Homeownership can be life changing no matter who you are. Let’s connect today to talk about your goals in the housing market.

9960 Longford Court in Vienna Townhome |
Just Listed

Homes for Sale in Vienna - Just starting your real estate journey?  This end unit townhome at 9960 Longford Court in the Vienna community of Waterford could be just right for you!

Not only is it rare to find an end unit townhome for sale in Vienna, but this one has not three, but four bedrooms!  There's so much room to grow.

The main level welcomes you with an open and bright side-entry foyer.  The powder room is just before the kitchen, where your guests can freshen up before enjoying a meal.  So much light and natural sunshine bursting through the eat-in kitchen.  There's a second water line and space for you to add a second refrigerator with ice maker, which is ideal for extra drinks.  The owners are conveying three stand alone countertops, which add space for your meal prepping and extra storage needs!

Also on the main level, is the rear facing dining room, and living room with wood burning fireplace.  There's a sliding glass door that opens to the fully fenced yard with patio.

Upstairs are four spacious bedrooms!  The primary bedroom opens up to the 4th bedroom, making it ideal for use as a nursery, home office, or exercise area.

The lower level is finished, the recreation room has beautiful built-in shelving, in addition to the separate den which is a perfect space for your overnight guests.  There's also a full bath, and a storage area with a full sized washer and dryer.

This home has many upgrades and special features, lots of storage, and great square footage.  Located close to Oakton High School, Vienna metro, and close to I-66, and routes 29/50/123.

Check out the 3D Virtual Tour Below

Are you interested in scheduling a tour of this beautiful townhome in Vienna.  Don't wait.  Call Tamara Inzunza, listing agent, today at 703-623-8759 or fill out our Contact Me form for an immediate response.

Related Links

• MLS Listing for 9960 Longford Court
• Homes for Sale in Vienna $500,000 - $600,000
• Homes for Sale in Vienna $600,000 - $700,000
• Spring 2023 Buyer's Guide

Buying in Alexandria VA |
Reasons To Consider Condos in Your Home Search

Are you having trouble finding a home that fits your needs and your budget? If so, you should know there’s an option worth considering – condominiums, also known as condos. According to Bankrate:

“A condo can be a more affordable entry point to homeownership than a single-family home. And as a homeowner, you’ll build equity over time and have access to tax benefits that a renter wouldn’t.”

That’s why expanding your search to include additional housing types, like condominiums, could help you accomplish your homeownership goals this spring, especially if you can be flexible about the space you need. Condos are typically smaller than a single-family home, but that’s part of what can make them more budget-friendly (see graph below for the nation-wide comparison):

Now, take a look at the interactive chart below that shows the median prices of condos vs single-family homes in Alexandria Va:

In addition to providing more options in your home search and possibly your price point, there are several other benefits to condo living. They tend to require less upkeep and lower maintenance – and that can give you more time to spend doing the things you enjoy. Plus, since many condos are in or near city centers, they offer the added benefit of being in close proximity to work and leisure.

Remember, your first home doesn’t have to be your forever home. The important thing is to get your foot in the door as a homeowner so you can start building wealth in the form of home equity. In time, the equity you develop can fuel a future purchase if your needs change.

Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could provide the added options you need in today’s market.

Bottom Line

It could make a lot of sense to add condos to your home search. Let’s connect today if you’re ready to check out the options in Alexandria or other parts of Northern Virginia.