THE R&R TEAM QUARTERLY NEWSLETTER
At this Holiday Season, we on The R&R Team send best wishes to you and yours and hope the coming year will bring you happiness, health and prosperity.
Also, we wanted you to have this R&R Team Quarterly Newsletter with updated information on the local real estate market and other realty items of interest. Please feel free to forward this Newsletter to a friend and ask them to send us an email if they want to be included next time.
New Enhancements Just for YOU:
- Team Web Site Enhancements: We are continuing to add enhancements to our Team web site specifically intended to make our site YOUR Real Estate Resource Center. Please visit our Team web site at http://www.therandrteam.com and please keep an eye out for many new features to be added very soon that are intended just for you.
- ListingBook Accounts for All Clients: Our Team is in the process of rolling-out a new system called ListingBook. We will be establishing accounts initially for each of our past clients and then subsequently for all our newer clients. This effort should be completed in the next couple of weeks and you will be sent an email when your account has been set up. ListingBook is the latest rave for real estate nationwide and is just beginning locally. This system will give our clients real-time/ anytime access to the MLS and to current property data with nearly the same fidelity as is available to realtors. Buyers with an account with us can do detailed searches, sort and save much like realtors and track changes to their searches real-time. Homeowners can get real-time and very accurate comparative market analyses (CMAs) on what their home is worth based on current/ updated market activity. Sellers who have their properties listed with us will get daily updates on what is happening with their direct competition, see how many buyers are interested in their property and get updated CMAs on how their current list price is faring based on changing market performance. Watch for our email and your ListingBook account information very soon.
Current Market Status: We on the R&R Team continue to tack market indicators near real time for the Dulles Market Corridor of Northern Virginia. Here is what is happening and what you can expect:
- The local real estate market continues improving. We no longer have a declining market for homes in the below $500K price range -- for such homes, we now have a seller's market on the Dulles Market Corridor and surrounding areas. Prices inflated from February through September 2009 and have leveled out since September. Overall, data analyses indicate that real estate prices have improved by nearly 4% over the past year. We expect a return to inflating real estate prices for the more affordable homes starting again in January. Also, prices are stabilizing for homes priced above $500K and, while still a buyer's market in these higher price ranges, market activity is still quite robust. Multiple competing contracts and escalation addenda have become common again, especially for properties in the lower price ranges. Currently, sellers are putting their homes on the market with reasonable price expectations and they are getting their expectations satisfied.
- We expect the Spring 2010 market on the DMC to be very robust beginning as early as January 2010. Inventory levels continue to be critically low at pre-May 2005 levels and these inventory levels keep dropping as buyer activity remains quite active. During the first quarter of 2010, interest rates are expected to continue hovering below 5% which represents an all-time historical low for 30-year fixed rate mortgages. Buyers will be further motivated to participate in an early Spring market based on recent announcements that the Federal Government will cease spending for purchase of mortgage-backed securities. The current artificially low mortgage interest rates are expected to increase by as much as 1-2% once this spending has stopped after the first quarter 2010. Likewise, most buyers are finding that they qualify for the extended and/or new tax credits but must have a property under contract not later than April 30, 2010, to get the tax credit. Based on all these factors, we expect the Spring 2010 market to begin in January and to be over earlier than normal. If you are thinking of selling and/or buying, we would suggest that you be an early bird to the Spring 2010 market for best success.
- Market Status Updates: You can always see what is the current market status for the Dulles Market Corridor by visiting our Team Blog at http://www.trulia.com/blog/RandRTeam/2009/09/real_estate_market_--_dulles_market_corridor_in_northern_virginia.
Helpful real estate-related links: Below are a number of useful links on topics of current interest to many of you. These links are also always accessible on our Team web site at http://www.therandrteam.com.
- View all active MLS listings in Northern Virginia: This is one of the very best free property search engines available on the Internet. Click on VAHomeSearcher.com to access all available MLS listing data, large full-color photos, virtual tours, location maps, driving directions and satellite photography for all active MLS listings in Northern Virginia. You can save your work and return as often as you wish.
- Making Home Affordable Program: Need help refinancing or restructuring your current loan under the current Federal homeowner assistance programs, visit http://www.makinghomeaffordable.gov/.
- Short Sales: If you are having financial problems, please do not lose your home to foreclosure – let us help you. Please see our short sale process checklist at http://www.the-r-and-r-team.com/short-sale-checklist.asp. We use a professional short sale negotiator to increase the possibility of success.
- First-time Homebuyer and Repeat Homebuyer Tax Credit Program: Get the straight facts on these programs http://www.federalhousingtaxcredit.com/2009/home2.html.
- Downpayment Assistance Program: If you want to buy a home and need some help coming up with any or all of the cash to make the FHA 3.5% downpayment, you may find help at http://vhda.com.
- Recommended lenders: Get mortgage pre-approved or assistance with any loan questions at http://www.the-r-and-r-team.com/Mortgage_info.asp.
- Free Credit Check: Check your credit score for free in two easy steps and not lower your existing credit score. Go to http://www.freecreditreport.com/.
- Realty Times: If you would like additional timely information on topics of current interest in real estate, please click here.
- R&R Team Recommended Vendors: See our recommended vendor list for repair or other assistance on almost any aspect or feature of your home.
If you are about to do anything real estate related, we recommend that you first get sound professional advice before proceeding. We have four outstanding, full-time realtors on our Team with the requisite training and experience to guide and assist you – and, we want your business. If you, a family member or an associate are contemplating selling and/ or buying, please contact us at 703-421-1433 or send an email to us at TheRandRTeam@mris.com.
As proven performers, we continue to take pride in providing world-class service to our clients…and we love referrals. The finest compliment we can ever receive is your referral of our services to friends and associates. We are continuing to provide $100 gift cards as added recognition to our clients and friends who provide referral business to us. Likewise, we are continuing to provide CASH-BACK assistance to all buyers.
WE WISH YOU AND YOURS THE VERY BEST! HAPPY HOLIDAYS! THANK YOU!
The R&R Team, Realtors®
RE/MAX Premier
45245 Business Court, # 101
Dulles, VA 20166
703-421-1433
MARKET EXPERTS! MARKET LEADERS!™
PROVEN PERFORMERS – WORLD CLASS SERVICE!!!™