Tavon Turley Realty

11/05/2023

It’s important to remember that the scales are always balancing. When one area of the economy may suffer a hit, the hit may serve as a benefit to other areas of the economy.

As potential buyers, it’s important to keep your eyes on how that affects YOUR buying power. I’ll continue to continue to keep you updated as we hopefully see progressive change moving into the new year.

We’re almost half way through the last quarter of the year. The time to start planning is NOW!

To all the homebuyers dreading the toxic mix of low inventory and 8% mortgage rates, how does a cooling economy and a 7.4% rate sound?

10/22/2023

Veros: U.S. Home Prices Forecast to Increase 2.2 Percent Over Next 12 Months
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According to Veros Real Estate Solutions, U.S. home prices are forecast to increase 2.2% over the next 12 months, leading to a decrease in affordability. This situation is likely to persist for the foreseeable future due to higher mortgage rates and a lack of inventory. However, certain smaller citi...

10/21/2023

Trade Association Forecasts More Housing Sales in 2024 Despite Continued Low Inventory
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Virginia REALTORS has released its 2024 Economic & Housing Market Forecast, predicting more sales in 2024 despite low inventory that is likely to keep market activity constrained. It is projected that net job change in Virginia and the unemployment rate will increase in 2024, and home sales and pric...

10/19/2023

Northern Virginia Homes Selling Faster Than National Average

10/18/2023

United States Home Loan Market Analysis Report 2023-2028: Increasing Number of Fintech Companies Entering the Market & Rising Focus Towards Loan Sector by Bank and NBFCs
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The United States home loan market is expected to experience significant growth to 2028, driven by several key factors such as a growing pool of potential home buyers, the automation of loan processes, and the pervasive trend of digitalization. This surge has generated substantial demand within the....

10/17/2023

Ask Me Anything!
Have questions about real estate but not sure where to start?

Have questions about real estate but not sure where to start?

10/16/2023

Northern Virginia's Real Estate Market Improves in Mid-Q3

10/16/2023

How to Negotiate Mortgage Rates
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Buying a house includes a negotiation process with both the seller and the mortgage lender. Research from Fannie Mae in early 2022 showed that 26% of homebuyers successfully negotiated their mortgage rates for a better deal. However, only one-third of homebuyers actually tried to haggle with their l...

10/15/2023

Virginia Realtors forecast home sales to rise in 2024 after steep decline this year
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The Virginia Association of Realtors predicts that home sales activity in Virginia will decline 23.6% in 2023, with home prices increasing 4.4% statewide. Prices in Southwest and Southside Virginia have been rising faster than other communities, with prices increasing at least 10% in some areas. Des...

10/14/2023

Virginia Realtors Association looks ahead to 2024 economic and housing markets
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The Virginia Realtors Association released its economic and housing market forecast for 2024, predicting an 11.4% increase in overall sales compared to 2023, a 1.2% increase in median home prices, and a 7.1% increase in new housing construction. They also predict a drop in the 30-year-fixed mortgage...

10/13/2023

3 Signs You Can't Afford to Buy a Home Despite Paused Interest Rates
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This text discusses the importance of considering more than just the mortgage rate when thinking of buying a home. It provides three signs that one might not be able to afford a home, such as not having any emergency savings, only expecting a mortgage payment, and having significant debt already. It...

10/12/2023

Navigating Virginia's Housing Maze: The Challenges of Homebuying