Real Estate Blog

The Impact of Higher Interest Rates | Keeping Current Matters

Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:

“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”

How can this impact the housing market?

The article reported that recent analysis from found that -

“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”

This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home.

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We know you love living in Virginia Beach, but how does it stack up Nationally--pretty well! 

"Virginia Beach rated highest in walkability and lowest in commute. It was above average in educational opportunity, economic opportunity and real estate confidence. Cities with similar rankings included Orlando, Washington andDetroit."  For complete article and lots of stats, click here. 

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Ahhhh, you’ve finally found your dream home. Right?

Before you commit to buying, make sure you consider whether some of your favorite features might actually hold back your house when (way down the line) it comes time to sell. Some design and architectural details—such as pools and multiple stories—split homeowners evenly, with half considering them a no-go and the other half completely obsessed.

So be informed! While these features won’t necessarily be the main factors determining whether or not you sign on the dotted (home-purchase) line, it’s best to know exactly what you’re getting into. Here’s what to look for in your future home.  For the complete story from, click here. 

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If you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait!  This is simple supply and demand.  Selling when demand is high and supply is low is how you make the most money on your sale.  You have to act fast though.  Things can change quickly.  If you have been thinking about making a move, now is the time!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years.

The graph below shows the significant increase in foot traffic experienced this year compared to 2014.

Foot Traffic Year-Over-Year | Keeping Current Matters

The latest Existing Home

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Home values in 29 states and the District of Columbia are within their historically normal range, according to Freddie Mac’s latest housing index.

The Multi-Indicator Market Index now stands at a value of 81, indicating a national housing market that is on its outer range of stable activity. The MiMi has improved 6.17 percent year-over-year and has rebounded 37 percent since its all-time low in October 2010. Still, the index remains significantly off its high of 121.7.  To read the article, click here. 

If you are thinking of selling, now might be the time--contact us for more information, we would love to show you what your home may be worth! 

(Source: Realtor Mag)

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Do you know what the value of your home is?  If you are thinking of selling or are just curious, give us a call so we can price your home right the first time! 

"For the seventh consecutive month, the gap has widened between what home owners say their home is worth compared to what appraisers say, according to Quicken Loans’ August 2015 Home Price Perception Index."  To read the complete article, click here.  (Source: RealtorMag)

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"Although kitchens and bathrooms always steal the spotlight in a home remodel, they aren’t necessarily the ones that have the highest return on investment when you sell your home.

Since 2002, trade magazine for contractors and builders “Remodeling” has been tracking how much it costs to do common home improvement projects — and then calculating how much of that cost is recovered when the home sells. 

Each year, we highlight the projects with the highest return on investment (ROI) from the magazine’s “Cost vs. Value Report.” 

Related: The Best Home Improvements for 2015

But this year, we decided to focus not just on the new data, but how projects have performed since 2002.

So, what’d we find?"  To find out, click here. 

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What building materials are trending in new-home construction? The latest Annual Builder Practices Survey, conducted by Home Innovation, reveals what buyers can expect to see in the new-home market.

1. Garages: The garage door is getting more enhancements, including windows, insulated doors, and doors made of composite or plastic materials. In 2014, 32 percent of all new single-family homes had bays for three or more cars—the most ever recorded in this study's history.

2. Flooring: Carpeting continues to be the most popular flooring option for new construction, with about 83 percent of all new-home bedroom installations having carpeting. However, only about 40 percent of living rooms now have carpet. Hardwood flooring – both solid and engineered

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