As Summer Winds Down…

Wow, did the summer fly by or what? It seems like it just started and it is already nearing the end.  Mine was helped along thanks to my annual trip to Liberia from which I just returned.  Have you all had any adventures this summer?  I hope so.

In what is good news for everyone we continue to open up the Wall Street Journal and see economic news that is largely superb which bodes well for a continued healthy real estate market!

This month we saw inventory levels stay steady – which is typical for this time of year. The biggest difference is the amount of inventory available in the resale market. We are currently down 12% from this time last year. The good news for sellers is the pace of sales is comparable to last year’s sales –  resulting in a 1.9 month supply of homes versus 2.1 last year. Unfortunately, while overall home prices are up, they are not flying off the market as quickly as they did earlier this year. Therefore, patience is required in some selling situations. The buyers in today’s market are taking their time making decisions as they are not feeling compelled to write an offer on the home the first time they view it. The market dynamics have shifted, and sellers need to be aware of this, so they remain patient and not anxious. If you are thinking  of selling, let’s get together to discuss your plans in more detail.

Mortgage interest rates are about a half point higher than last year, so this may also be impacting a buyer’s decision-making process. In addition, some houses have higher price tags than what they are worth resulting in some buyer hesitation on making offers as they don’t want to offend the seller. It is a complex transaction and will, in many cases, be someone’s largest asset, so taking the time and analyzing the house, the market and various options available to them can be a good thing for many people. In any of these situations, I’d be happy to assist in helping find the best location and home  for you when deciding to make a move.

As high school sports are back in full swing with their practices starting and the vacation season behind us, let’s see if we don’t have a quick uptick in housing sales before September. As always, time will tell. Enjoy the hot rainy weather and feel free to call me anytime.

It’s a good life.

Chris

 

Local Events

There is always something fun to do in and around Northern Virginia! 


 

 

 

 

Arlington County Fair

Arlington

Arlington County Fair –  August 15-19, 2018
Free Admission: Thomas Jefferson Community Center 3501 Second Street South Arlington, VA 22204 – Parking at the fairgrounds is prohibited making shuttles the most effective way to reach the fun. Shuttles will run approximately every 30 minutes during the Fair’s operating hours from the Arlington Career Center, I-66 parking garage, Pentagon City Metro Station and Virginia Square Metro. The first shuttles will pick up approximately 30 minutes before the Fair opens each day. The last shuttle will pick up from all four stops approximately 1.5 hours before closing and the last shuttle to leave the fairgrounds be 10 minutes after our closing hours each night.

Manassas

Prince William County Fair – August 10-18, 2018

Tickets are sold at the fair grounds – 10624 Dumfries Rd. Manassas, VA 20112
One Admission Adult Ticket $10 | One Admission Child/Senior Ticket $6
Ride wristbands: Weekdays: $18 | Sun : $22 | Fri : $20 | Sat : $22  – Specials:

Tickets are half price on Half Price Night. | Ladies admitted FREE on Ladies Night.
Children 4 and under and Active Military admitted FREE daily.

Ashburn

The Carnival at One Loudoun – August 15-26, 2018
BACK BY POPULAR DEMAND!!! The Carnival at One Loudoun returns ONE MORE TIME August 15th-26th to complete your summer. Bring your kids, or just be a kid yourself, as you experience over 40 different attractions including awesome rides for all ages, classic carnival games, prizes, food & fun!
Hours of Operation –  Monday – Friday 6pm to 11pm, Saturday 1pm to 11pm and
Sunday 3pm to 11pm (Closing time may vary due to weather and crowd attendance.)

Chantilly

Reels on the Ramp – Udvar-Hazy Center – 14390 Air & Space Museum Parkway

Enjoy a family movie night under the stars while watching a movie (rated PG or G) on the Udvar-Hazy Center’s outdoor airplane ramp at this inaugural series! Doors open at 8:00 pm and the movie will start at 9:00 pm. Bring chairs, blankets, and insect repellant. The Reels on the Ramp outdoor movie series takes place most Saturdays from June 23 to August 25 at the Steven F. Udvar-Hazy Center in Chantilly, Virginia. Dates subject to change.

Schedule for August:

Aug 4th –  Star Wars: The Force Awakens
Aug 11th – Planes
Aug 18th – Guardians of the Galaxy
Aug 25th – Sully

August is also Back To School Month for many area counties!

Arlington County – August 4th (Barcroft Only)
Loudoun County – August 23rd
Prince William County – August 27th
Fairfax County – August 28th

 

5 Reasons School Ratings Matter  (Whether You Have Kids or Not)

Schools can have a big impact on property value and quality of life. If you’re buying a home, here are a few reasons local school ratings matter, even if you don’t have kids.

#1 – The next buyer will consider the school ratings, too. According to the 2014 National Association of REALTORS Profile of Home Buyers and Sellers, 29 percent of homebuyers listed school quality and 22 percent listed proximity to schools as deciding factors in their home purchase. Another survey conducted by Realtor.com showed that 91 percent of the people surveyed included school district boundaries in their decision-making process. You may be surprised to learn that not all of the shoppers involved in the studies had kids.

#2 – Money spent on schools means more money spent on homes. There’s a correlation between school expenditures and home values in any given neighborhood, according to the National Bureau of Economic Research. Their report, “Using Market Valuation to Assess Public School Spending,” found that for every dollar spent on public schools in a community, home values increased $20.

#3 – Higher school ratings equal higher home values. A Brookings Institution study looked at the 100 largest metro areas in the country and found an average difference of $205,000 in home prices between houses near high-performing and low-performing schools.

#4 – Good school ratings help homes maintain value. While changes in the economic landscape and local area can ripple across the market, a great school district can sometimes help insulate a home from market fluctuations.

#5 – Great school districts usually mean great neighborhoods. Often there’s a correlation between super school districts and safer neighborhoods, better shopping and transportation and great public amenities like parks. All of these factors increase the desirability of the neighborhood, which translates to higher home
values and a better deal for you when it’s time to sell.

 

Recipe Corner

Broccoli Pesto Salad

 

INGREDIENTS

  • 1 head of broccoli (about 8 oz.)
  • Kosher salt
  • 6 ounces orecchiette or other short pasta
  • ½ cup grated Parmesan
  • ½ cup (packed) fresh basil leaves
  • 3 tablespoons olive oil
  • 2 teaspoons fresh lemon juice
  • Freshly ground black pepper

RECIPE PREPARATION

  • Separate broccoli stalk from florets and finely chop florets. Trim woody end of stalk, then peel and finely chop. Cook stalk in a large pot of boiling salted water until bright green, about 3 minutes. Add florets and cook until crisp-tender, about 3 minutes more. Using a slotted spoon or mesh spider, transfer broccoli to a large bowl of ice water, then drain on paper towels.
  • Add pasta to same pot of boiling water and cook until al dente. Drain pasta, reserving 1 cup pasta cooking liquid, and return to pot.
  • While pasta cooks, transfer broccoli (reserve a handful of florets) to a food processor and add Parmesan, basil, oil, and lemon juice. Season with salt and pepper, then process until smooth.
  • Toss pasta with broccoli pesto, adding more pasta cooking liquid as needed to coat evenly. Toss in reserved broccoli florets and season with salt and pepper.

Do Ahead: Broccoli pesto can be made up to 1 day ahead. Let cool, then press plastic wrap directly on surface before covering to avoid discoloration, chill.

 

RE/MAX Celebrates 26 Years of Miracles

Every minute, 62 children enter a Children’s Miracle Network Hospital for treatment. For the past 26 years, RE/MAX agents have donated generously to make sure they receive the treatment they need.

Since 1992, RE/MAX agents and brokers have invested in the well-being of their local communities through the Miracle Home Program, where an agent donates a portion of their commission to their local Children’s Miracle Network Hospital. Every dollar helps fund pediatric medical equipment, treatments, charitable care and other healthcare services for local CMN hospitals.

In addition to participating in the Miracle Home and Miracle Property programs, RE/MAX offices and agents generate donations through benefit dinners, golf tournaments, auctions and other community involved fundraisers.

August is the RE/MAX Month of Miracles. To support the RE/MAX network’s ongoing effort to raise money for CMN Hospitals, look for a RE/MAX yard sign with the CMN Hospitals balloon, or contact me for more information on how you can help our local CMN Hospital, Children’s National Medical Center.

In 2017, through RE/MAX Gateway’s Miracle Home Program, agent donations and our charity golf  tournament, we raised over $52,000 for Children’s National Medical Center!