Aug. 23, 2017

The Importance of using a Realtor


When a homeowner decides to sell their property, they obviously want the highest possible price for it with the least amount of stress along the way. However, for the vast majority of sellers, the most important result is getting their homes sold and sold fast.

In order to accomplish these goals, a seller should realize the importance of using a realtor. We realize that technology has changed the purchaser’s behavior during the home buying process. The National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, stated  “…44% of recent buyers took in the home buying process was to look online at properties for sale.

However, the report also revealed that 96% of  home buyers who used the internet when searching for homes purchased their homes through either a Realtor or from a builder or builder’s agent. Only 2% purchased their homes directly from a seller whom the buyer didn’t know.

Buyers search for homes on the internet but then depend on an agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the entire home buying process (61%).

The plethora of information that is now available has resulted in an increase in the percentage of buyers who reach out to Realtors to “connect the dots.” This is obvious, as the percentage of overall home buyers who have used agents to buy their homes has increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process. And the earlier you contact one, the better.




July 24, 2017

84% of Americans Believe in Home Ownership

According to the National Association of Realtors®’ 2017 National Housing Pulse Survey84% of Americans believe that buying a home is a good financial decision. This is the highest percentage since 2007. Those surveyed pointed out five great reasons why they believe becoming homeowners is a good financial decision:

1.    Homeownership means the money you spend on owning a home goes towards building equity, rather than building a landlord’s equity.

2.    Homeownership creates the opportunity to pay off a mortgage and own your home by retirement age.

3.    Homeownership is an investment that builds long-term wealth and increases your net worth.

4.    Homeownership means a stable and predictable monthly mortgage payment.

5.    Homeownership allows for various deductions on federal, state, and local income taxes, contact your tax account to see how!

The majority of Americans strongly agree that homeownership helps create safe, secure, and stable environments.

Bottom Line

Homeownership has always been and always will be a crucial part of the American Dream.

Posted in Home Buying
June 7, 2017

Why Should You Sell this Summer?

1. Demand is high due to low inventory within Mount Airy and surrounding communities.

Buyer demand remains very strong throughout the vast majority of Maryland. These buyers are ready, willing and able to purchase… and are in the surrounding market right now! Multiple buyers are competing with each other to buy a home.

2. Listing Competition is Low

In April, housing inventory in Mount Airy, MD was at a 2.9-month supply, well under the 4.2 5-year average. This means, in the majority of the 21771 zip code, there are not enough homes for sale to satisfy the number of buyers. This is good news for home sellers in our region.

Mount Airy homeowners are now seeing a return to positive equity as values have increased over the last 5 years. Some of these homes will be coming to the market soon.
Buyers home choices have will continue to rise. Don’t wait until all this other inventory of homes comes to market before you sell.

3. Expect a Speedy Process

As the market strengthens, banks will receive more applications and process more loans causing slower turnaround times. Selling now will help avoid this delay.

4. This is a Great Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now before interest rates rise. According to CoreLogic, prices are projected to appreciate by 4.9% over the next year.

You can also lock in your 30-year housing expense with a lower interest rate right now. Rates are projected to increase in the next year.


April 21, 2017

Home Mortgage Rates Increase While Requirements Loosen

Have you noticed an increase in mortgage interest rates? We have too! According to Freddie Mac, we have gone from 3.42% last September to the current 4.1%.  But as interest rates increased, we have also seen a decrease in the requirements to obtain a loan.

The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with their Mortgage Credit Availability Index (MCAI). According to the MBA, the MCAI is: “A summary measure which indicates the availability of mortgage credit at a point in time.” Basically, the higher the index, the easier it is to get a mortgage. Luckily for home shoppers, the MCAI over the last several months has increased.

The down payment required to buy a home has also reduced over the years. To buy a home, you don't need to make a 20% down payment. Some qualified borrowers can actually get into a home for as little as 0% down!

In a nutshell, it is easier to get a mortgage today than it has been at any other time in the last ten years. Send us a message or call us at 240-793-4118 if you want to discover your borrowing power! 

#getamortgage, #mortgagerates, #buyingahome

March 7, 2017

Most Buyers are Surprised by Closing Costs

In most real estate transactions, there are fees that go along with the closing. A recent survey by ClosingCorp revealed that more than 1/2 all homebuyers are taken aback by the closing costs associated with obtaining their mortgage. “Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title, insurance and appraisal fees.” Knowing this information prior to closing can put your mind at ease, and avoid unexpected hits to your wallet at the settlement table. Our advice is to speak with your lender and agent from the get-go to learn the fees that you're responsible for paying at closing.

Does the idea of buying a home have your stomach in knots? Take a deep breath, and give us a call. Let The Home Force Team help you to buy your Maryland or Virginia home with confidence. 

#buyingahome, #mortgageinsurance, #homeforceteam, #marylandrealestate




Feb. 28, 2017

How Long Do Families Stay in their Home?

Happy Tuesday! We hope that you're enjoying this unusually warm weather as much as we are!

We recently came across an interesting fact that we felt compelled to share. The National Association of Realtors (NAR) reported that the median time that a family stays in their home has increased drastically, by almost 50%! For 23 years (1985-2008), the median tenure averaged 6 years. However, since 2008, that average has raised to almost 9 years.

Reasons for this increase include the trend toward more conservative spending and an emphasis on saving as many homeowners were left in a negative equity situation after the housing crisis. With the economy bouncing back and wages starting to increase, many homeowners are in a much better financial situation.

Would you like to know the value of your home? Click here!

#realestatetrends, #realestate #realestatemarkettrends