I spoke with Courtney recently about interest rates, our market, and more. As a real estate agent, I have a lot of experience in our market. If you want to sell or buy a home, I know exactly what you need to do to succeed. Likewise, my friend Courtney Lalonde is a loan aficionado because she helps people acquire them every day. Recently, we sat down for a wide-ranging conversation on loans and our current market. You can listen to our full conversation in the video above or skip to each topic using the timestamps provided: 0:00 — Introduction 0:34 — What’s happening with interest rates? 1:42 ..read more

With the market as hot as it is right now, many buyers ask if they should buy now or wait out the market. Interest rates are on the rise, but do those changes really even matter in the grand scheme of things? Let’s look at some examples to show you how much of an impact rising rates can have.   Suppose you’re looking to buy a $200,000 house at a 3.5% interest rate, and you want to put $10,000 down on it. For that home, your monthly payment would be $808. Over the course of the 30-year loan, you’ll pay $110,981 in just interest.   Now, if the rates rise slightly to 3.75%, that will ma ..read more

I explain why it doesn’t make sense for buyers to wait in this market.  Want to Buy a Home? Search All HomesWant to Sell a Home? Get a Home Value Report We’re in the middle of an extremely competitive market for buyers. If you’re looking to purchase a home, should you just wait? It’s tempting, but I don’t think the math adds up. Today I want to go over an example that proves it doesn’t pay to wait to buy.  You can watch my full explanation in the video above, or you can skip to each topic using the timestamps provided: 0:00 — Introduction 0:32 — What does it look like to buy a $200 ..read more

Here’s what you need to know about the Virginia Beach real estate market. Want to Buy a Home? Search All HomesWant to Sell a Home? Get a Home Value Report I get asked by friends and clients all the time, “What’s our real estate market like?” Today I want to answer that question. The truth is, the market is still very competitive. People have been talking about a slowdown and debating whether it’s seasonal or permanent. In my opinion, this is just a result of more homes entering the market. Earlier in the spring, inventory was so low houses would have 20 or even 30 offers. You probably heard ..read more

Why are so many teams suddenly joining eXp Realty? Recent months have seen team after team decamping for eXp. The leaders of those teams say they were persuaded by lucrative revenue sharing options and by watching fellow agents switch first  eXp Realty BY JIM DALRYMPLE II Jonathan Lahey had been looking to make a change for a long time.For more than a decade, Lahey had been leading a RE/MAX team in the Washington, D.C., area. He wanted to expand his business’ footprint, but the logistics always got in the way. “I tried and tried,” Lahey told Inman. “I tried to make the numbers work ..read more

There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case. This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in ..read more

It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market. It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home ..read more

The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities. Selling in the winter can give you a few advantages. There will be fewer h ..read more

Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family. Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mort ..read more