Spring Market in Full Bloom … Snow? What snow?
Last year the REALTORS® lamented; “We never had a Spring market”, well, this year, Spring came early in January, with listings coming on the market right and left and buyers snapping them up fairly quickly. It’s mid February now and our “big snow storm” with 8″ expected, turned into 3-5 in Leesburg. Not complaining, mind you, just reporting:) Speaking of forecasts …
I think the forecast of rising interest rates, beginning in 2016, has fueled much of the Spring markets pace. We could be looking at interest rates of 6%. I am grinning as I write that … I have to confess. When I got into the business in 1988 we had interest rates of 16-21% and anyone who had 10 or less found them selves in the cat bird seat. Loans were still assumable back then and most of them didn’t require you to qualify!! Imagine! Owner held notes were popular in the mid 1990’s and I was the lucky recipient of one. I was a single mother or 2, not making lots of money in Real Estate yet, and it allowed me to buy my first home. The owner was nervous to hold the note, but the market was slow and the house was just sitting. For 5 years I paid that note to Jeff and at the end he begged me to continue to let him hold the note; he was making better interest than he could in the stock market! But, I was a successful REALTOR® now and I could qualify for a bank loan … I had arrived.
I say that, to say this: If you have thought, even for a second, about selling your house, moving up, down or sideways; now is a good time. More to choose from, interest rates under 4%, and banks have relaxed some of their “knee jerk reaction” qualifying guidelines. And, more interesting products are coming on the market in Leesburg, I am very excited about that.
27 years of selling homes in Loudoun County and I love it as much today as I did then. Guiding people through the sometimes stressful process of buying or selling makes me happy. I get to be a part of peoples lives in a very profound way; that’s a responsibility I don’t take lightly. Those 2 children work with me now and they are finding homes for all of their friends … yes, the ones who had their heads in my refrigerator most of their school age years:) Those children are having children and one day we will find them a home too, close to Gran ma and Gran pa, of course. Gwen’s Think?
I look forward to getting to know you and your family one day soon.