Dreaming of a Luxury Home? Now is the Time!

Dreaming of a Luxury Home? Now's the Time! | Simplifying The Market

Dreaming of a Luxury Home? Now’s the Time!

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call their house their new home.

The sale of your starter or trade-up house will help you come up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

A recent Bloomberg article gave some insight into what many millennials are choosing to do:

“A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding ‘the rise of the new aristocracy.’”

Bottom Line

The best time to sell anything is when demand is high, and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

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Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years

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Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years | Simplifying The Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal.

When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.

In the latest release, the disparity was the narrowest it has been in over two years, as the gap between appraisers and homeowners was only -0.5%. This is important for homeowners to note as even a .5% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home)

The chart below illustrates the changes in home price estimates over the last two years.

Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years | Simplifying The Market

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges homeowners to find out how their local markets have been impacted by supply and demand:

“Appraisers and real estate professionals evaluate their local housing markets daily. Homeowners, on the other hand, may only think about their housing market when they see ‘for sale’ signs hit front yards in the spring or when they think about accessing their equity.”

“With several years of growth, owners may have more equity than they realize. Many consumers use the tax season at the beginning of the year to reevaluate their entire financial life. It also provides a good opportunity for them to consider how best to take advantage of their equity while mortgage interest rates and borrowing costs are still near record lows.”

Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise.

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Gorgeous Condo in Sterling VA!

You must see this first floor James model condo meticulously maintained and upgraded! 2 bedrooms and 2 full baths, granite counter tops and bathroom counters, gorgeous wood floors, beautiful appliances, and lovely bathroom tile all await you! Gas fireplace, built in shelving, security system and master bedroom with a walk in closet round out this wonderful, centrally located condo. Call now! 540-710-4205.



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Just Listed!! 219 Bailey Drive, Louis VA 23093

Awesome opportunity to own in Lake Anna! Sold as is and priced right! This is a renovation in progress with enormous potential! Come put your finishing touches on this home! Two septic systems on the land, and a boat slip is included! Listed as 1 bedroom, but can easily be finished as 2! Garage on first level has been converted to living space, with a kitchen area & full bath. Must see!! Perfect for a 203K renovation loan! Don’t miss this one! An additional 1.29 acre lot on Paddock Lane is also offered under LA9984016! Call for a private showing: 540-710-4205.

See the slideshow: http://slideshow.mris.com/slideshow/slideshow.htm?ListingKey=300172156674

Click on the image below to enlarge!



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Millionaire to Millennials: Buy Now!

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First Time Home BuyersFor BuyersMillennialsMove-Up Buyers

Self-made millionaire David Bach was quoted in a CNBC article explaining that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show appearing more than 100 times, has been a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS, and has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, The Washington Post, The Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

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Why Pre-Approval Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

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87 Wateredge Ln, Fredericksburg VA 22406

This home has it all! 4 bedrooms, 3 bathrooms, bonus room, 3 fireplaces, 2 decks, a pool, swings for children and adults, surround sound in the basement, 2 refrigerators, 3 sheds, 3.27 acres of beautiful land. Well manicured landscaping, great patio furniture, everything you need to call it home. Well maintained, this beautiful oasis is awaiting it’s next owner. It should be you.

View the slideshow HERE.

Click on the flyer below to enlarge it.


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**SEVEN DAY SALE** – 102 Santa Maria Ave, Colonial Beach, VA 22443

Owner intends to accept highest and best offer received by midnight 7/8/2016! Updated home in quiet neighborhood with water views! Newer kitchen with slow-shut drawers, and granite counter tops! Upgraded and renovated bathrooms! Newer roof, gutters and deck! Hot tub! Natural light throughout. Lot size approximate. Refrigerator does not convey. This is a great house at a great price in a great location! House shows very well, and is priced at $199,900 as a minimum. This is not an auction, but is a standard sale and is subject to the normal inspections. Show it and sell it! All offers must be received by midnight 7/8/2016.

View Slideshow HERE

Click on the picture below to enlarge the flyer.

Seven Day Sale

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Immaculate Home in Spotsylvania County!!

Just listed in the Edinburgh subdivision of Spotsylvania County!! This best kept secret is IMMACULATE and a must see! Located near the 22407 zip code, you will love the location. Pride of ownership shows on this meticulously maintained beauty. 4 BR 2.5 baths, fireplace, upgraded kitchen and fixtures, extra freezer, beautiful deck and landscaping. Pick up the phone today to schedule a showing! 540-710-4205.

View the slideshow HERE.

Click on the picture below to enlarge the flyer.


10409 Edinburgh Drive, Fredericksburg VA 22553

10409 Edinburgh Drive, Fredericksburg VA

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Private Oasis in Stafford County!

Welcome Home! Enjoy this beautifully appointed smart home in Stafford County VA on almost 40 acres of land, conveniently located 15 minutes from Fredericksburg Virginia and less than 10 minutes from the Virginia Rail Express. Privacy and serene views await you in this home which boasts 2 master bedrooms, 2 kitchens, handmade woodwork, Brazilian hardwoods, home theater, geothermal heat, pool, hot tub, Palladian windows, green house, wood shop, in-law suite and more!

This smart home has an Omni automation system, solar panels, and a fireplace. This is truly a unique, one of a kind home, priced to sell. It is located minutes from the Belle Plains Boat Club, and public boat access to Potomac Creek. There is enough land for horses, dogs, gardening, and more. The owner is a wood worker and handmade many of the unique cabinets and doors in the home. There is a green house and a shed shop on the premises. This beautiful home truly has it all.

Currently offered at $705,000.

To view the slideshow, click HERE!

To enlarge the flyer click on the image below.


Private oasis in Stafford County VA

Private Oasis in Stafford County VA

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