Northern Virginia Real Estate Podcast with Michael Putnam

Casino Night Was a Huge Success

Mike@PutnamGroupSells.com (Mike Putnam) — Mon, 15 May 2017 12:09:00 -0700

Our casino night was a huge success and today, we wanted to give a quick recap of the good times had by all.

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I'm very excited to say that our Casino Night was a huge success!

I want to thank everyone who joined us and helped make the night such a great time. We played blackjack, craps, roulette, and gave away some great prizes like an iPad. It's safe to say that everyone went home a winner!

If you weren't able to make it, we hope the video above will give you an idea of what good time we have when we celebrate our wonderful clients. We appreciate your business and we love giving back with celebrations like these.

Everyone went home a winner!

Stay tuned for details about our next event—we can't wait to see you there.

In the meantime, don't hesitate to give us a call or send us an email if you're thinking of buying or selling home here in the northern Virginia area. We're here to help!

3 Inexpensive Ways to Increase Your Home Value

Mike@PutnamGroupSells.com (Mike Putnam) — Fri, 5 May 2017 07:35:00 -0700

How can you net the most money from your home sale? There are three simple things you can do now to improve your home’s value.

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There are three simple, inexpensive things you can do to increase the value of your home and ensure that you get the most amount of money from your home sale.

1. Get rid of the clutter. This is one of the hardest and most time-consuming things to do but it will net you more money from your home sale in the end. Take all of the belongings that you don’t need or use and put them in storage, throw them away, or give them away. Decluttering will make your home look a lot more spacious to buyers.

2. Improve the lighting in your property. Take down the drapes, clean the windows, and increase the wattage of your lightbulbs so that the property looks its absolute best.

Do not make unnecessary upgrades or completely renovate your home before selling.

3. Don’t overimprove your home. One of the biggest mistakes sellers make is making unnecessary repairs or renovations to the home thinking that they will get a huge return. In the end, quick fixes and small touch-ups are always better than a mammoth makeover.

These three simple things will help you get more money for your property. Remember, it’s not just about making your house look expensive; it’s about making the most money on the sale of your property.

If you have any other questions about preparing your home for the market, give me a call or send me an email. I would be happy to help you!

Rising Rates Mean Buyers Are Running out of Time

Mike@PutnamGroupSells.com (Mike Putnam) — Wed, 19 Apr 2017 10:08:00 -0700

How do rising interest rates impact you if you want to buy a home? Allow me to explain why you don’t want to wait.

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With interest rates on the rise, is now a good time to buy a home? Think back to the peak of the market in 2006—interest rates were at 6%.

Today though, interest rates are at just 4%, or 30% less than they were at the market peak. Many buyers today don’t realize when buying a home that the most important part isn’t the sales price, it’s the interest rate.

If you waited until next year and they rose to 5%, you would face nearly a 20% increase in your monthly payment. It’s the same as buying a $400,000 house and making a $500,000 payment on it if you wait for rates to go up.

Interest rates are as low as they are going to be.

When you buy a house, the interest rate is your greatest asset and right now, rates are the lowest they will be. Low rates can mean two things when buying a home: a lower payment or a higher amount you qualify for.

If you’re interested in how much you would qualify for to buy a home here in the Northern Virginia market, give us a call or send us an email. We’re here to help!

Why It's Such a Great Time to Sell in Northern Virginia

Mike@PutnamGroupSells.com (Mike Putnam) — Fri, 31 Mar 2017 10:03:00 -0700

Should you sell your house if you've been thinking about moving? Allow me to explain why conditions are perfect for you to get a great value for your home right now.

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Is now the right time to sell your house in the northern Virginia market?

Yes, yes, and yes!

The current inventory of homes in our market is down nearly 73%. Out of the 31 houses we've sold this year, 28 sold at or above market value and also received multiple offers.

The main reason inventory is so low is because many people decided to wait until the end of May to sell their house, creating the perfect opportunity for anyone who wants to sell their house in the next 60 days. You'll face almost no competition and there are a ton of buyers looking for homes.

When selling a home, you want inventory and rates to be low, and our market offers both right now.

Why are there so many buyers out there right now? Mortgage interest rates started the year at about 4% but they've gone up to about 4.3%. Buyers see that rates are rising, so they're incentivized to buy a home soon.

Anytime you sell a home, you want the market to have low inventory and low interest rates. The great thing about the market in the next 60 days is that it will offer both those things. If you've thought about selling your house or you're just curious about its value in this hot market, just give us a call or send us an email. We'd love to help you out!

What Does Our Market Look Like So Far in 2017?

Mike@PutnamGroupSells.com (Mike Putnam) — Tue, 14 Feb 2017 13:26:00 -0800

Today I want to give you a look at what our market looks like so far in 2017.

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What does our market look like in 2017 so far?

We’ve already seen a lot of interesting things happen this year. Our inventory has decreased by 62% from only two months ago, which was probably caused by the uncertainty surrounding the election results. A good amount of our winter sellers decided to hold off for the spring market.

May is going to present a huge opportunity for sellers.

There has also been an increase in buyers who want to take advantage of low interest rates while they can. Since the election, interest rates have gone up from 3.5% all the way to about 4.1%, so buyers want to purchase a home before another increase occurs.

If you’re a seller, May is going to present a huge opportunity for two reasons: low inventory and a surplus of buyers.

If you’re thinking about selling your home or are just curious about your home’s value, give me a call or send me an email. I would be happy to answer any of your real estate questions!