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Northern VA Real Estate News - The BELT Way!

Kiss Your Landlord Goodbye - Special For Millennials

Today is a great time to enter the real estate market!  Why throw money away on rent when you can be your own landlord? 
 
Freedom rocks. And so does putting money in your OWN pocket instead of your landlord’s! 
 
Mortgage rates are low (for now!) and you may even be able to pay less by owning than renting. Not sure how the process works? We’ve gathered these local experts to share their knowledge with you:
 
  • Aaron Gagnon, Loan Officer, Apple Federal Credit Union
  • Brad Pace, Loan Officer, EverBank
  • Chris Melnick, Owner, Double Eagle Title
  • Several local millennials who recently bought their first home
  • The Belt Team, nationally recognized Top 100 Team with  Keller Williams Realty
Next Class Scheduled: Sept 30th 6:30-8PM in McLean
 
Register at: www.TheBeltTeam.com/Classes  (Register FREE before 9/10)
 
Parents: Are YOU your adult child’s landlord? Send them to our class. Invest in their future!
 
Here are some of the topics we will discuss: Could I actually pay less by owning than renting? How much money do I need? Do I qualify for a mortgage? What would my payment be? Mistakes to avoid. What about inspections? Search tips & tricks. Best apps to use.  

Financial Markets Are Rumbling – Should I Sell Now or Later?

As summer comes to an end, children go back to school, and the days start getting shorter – we often get calls from folks who are thinking of selling in the Spring asking us to stop by to consult with them about what does and does not need doing between now and then.

Well – in light of the current upheaval in the financial markets, our phones are ringing a little more frequently than normal. And we are happy that our clients consider us to be part of their “financial health team”.

We have set up consultations this week to discuss our clients’ short and long term plans and where real estate fits into those plans. We have advised several to stay where they are because their plans are not likely to be influenced by a normal real estate cycle. We have also advised some to move up their timetable. If you would benefit from this type of consultation, ring us at (703) 242-3975 and we’ll set up a time to visit.

Here’s what CEO Terry Belt had to say recently when a past client in Vienna inquired about meeting over Thanksgiving in anticipation of selling next Spring:

CEO The Belt Team“To the extent that your plans for selling are certain, I recommend you go on the market before Spring – some time in late January or February.  Homes sell faster and for more in recent years at that time because of less competition.  I am particularly concerned about next Spring and Summer as I believe we are topped out in the current cycle and we are at the very beginning of a shift.  The inventory in Vienna has almost doubled in the past 6 months, price appreciation has flattened, the contract price to list price ratio has deceased, days on market to sell has lengthened, and buyer/showing activity levels have decreased. The current market is still what I consider very healthy, but I do see changes coming and if interest rates nudge up and the stock market adjusts, I think the trends we are seeing here will not favor Sellers. Interestingly, Gary Keller, the chairman of our company, went on record this month predicting a national shift in the market that we will start to feel in the next 6-8 months and a full downturn within 2 years.  He has predicted the last 3 housing cycles in advance very accurately.”

If you would like to speak to one of our Senior Listing Specialists about today’s market – call (703) 242-3975. We are happy to leverage the wisdom and experience we have gained in the previous downturns to YOUR benefit.

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Keller Williams Realty
The Belt Team
6820 Elm Street
McLean VA 22101
(703) 242-3975