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mortgage pre-approval

mortgage pre-approval

Your Complete Guide to Mortgage Pre-Approval: Why It’s Your First Step to Homeownership

Whether you're buying your first home or your fifth, the journey starts the same way: with a solid mortgage pre-approval. It’s not just a piece of paper—it’s your homebuying permission slip, budget outline, and negotiation advantage all rolled into one.

MORTGAGE & FINANCE

Samantha Tunador

Sep 52 min read

🌟 Ready to find your dream home in Northern Virginia? 🏡✨ With Geri Deane, REALTOR®, you get personalized guidance throughout your home search! Discover the best options in Loudoun, Clarke, Fairfax, Purcellville, and Leesburg today! 💼 Link in bio for more details! #NorthernVirginia #HomeBuying #DreamHome #Realtor

🌟 Ready to find your dream home in Northern Virginia? 🏡✨ With Geri Deane, REALTOR®, you get personalized guidance throughout your home search! Discover the best options in Loudoun, Clarke, Fairfax, Purcellville, and Leesburg today! 💼 Link in bio for more details! #NorthernVirginia #HomeBuying #DreamHome #Realtor

On October 2nd, 2021, my husband Kenny was in a devastating car accident, but a miracle changed everything. Join me in remembering that moment and the angels among us. Link in Bio

On October 2nd, 2021, my husband Kenny was in a devastating car accident, but a miracle changed everything. Join me in remembering that moment and the angels among us. Link in Bio

Unlock the keys to a successful real estate career! 🌟 Whether you're just starting or looking to enhance your expertise, mastering essential skills like communication, negotiation, and market knowledge sets you apart. 📚 Dive into our latest post to elevate your real estate journey. 🚀 #RealEstateCareer #ProfessionalGrowth #RealEstateTips #CareerSuccess

Unlock the keys to a successful real estate career! 🌟 Whether you're just starting or looking to enhance your expertise, mastering essential skills like communication, negotiation, and market knowledge sets you apart. 📚 Dive into our latest post to elevate your real estate journey. 🚀 #RealEstateCareer #ProfessionalGrowth #RealEstateTips #CareerSuccess

Unlocking the secrets of real estate in Northern Virginia! 🏠✨ Join Geri Deane, REALTOR®, as she dives into the nuances of new construction homes and the importance of local expertise. 🗝️ Ready to make informed property decisions? 🌟 #RealEstate #NorVaHomes #NewConstruction #GeriDeane #LoudounCounty #ClarkeCounty #FairfaxCounty #Purcellville #Leesburg

Unlocking the secrets of real estate in Northern Virginia! 🏠✨ Join Geri Deane, REALTOR®, as she dives into the nuances of new construction homes and the importance of local expertise. 🗝️ Ready to make informed property decisions? 🌟 #RealEstate #NorVaHomes #NewConstruction #GeriDeane #LoudounCounty #ClarkeCounty #FairfaxCounty #Purcellville #Leesburg

☕ Happy International Coffee Day! Celebrate the cozy moments in life as you sip your favorite brew. Let Geri Deane, REALTOR®, help you find your perfect home in beautiful Northern Virginia. 🏡✨ You deserve a place where everyday feels special! #InternationalCoffeeDay #CozyHomes #NorthernVirginia #GeriDeane #Realtor #HomeSweetHome #CupOfJoe #RealEstate #HouseHunting #VirginiaHomes

☕ Happy International Coffee Day! Celebrate the cozy moments in life as you sip your favorite brew. Let Geri Deane, REALTOR®, help you find your perfect home in beautiful Northern Virginia. 🏡✨ You deserve a place where everyday feels special! #InternationalCoffeeDay #CozyHomes #NorthernVirginia #GeriDeane #Realtor #HomeSweetHome #CupOfJoe #RealEstate #HouseHunting #VirginiaHomes

🏡✨ Curious about the current real estate trends in Loudoun, Clarke, Fairfax, Purcellville, or Leesburg? Our latest market analysis has all the insights you need! 📊✨ Whether you're buying or selling, I'm here to help you navigate your local market. Want to chat? DM me! #RealEstate #MarketUpdate #LoudounCounty #ClarkeCounty #Fairfax #Purcellville #Leesburg #HomeBuying #RealEstateAgent #PropertyInsights

🏡✨ Curious about the current real estate trends in Loudoun, Clarke, Fairfax, Purcellville, or Leesburg? Our latest market analysis has all the insights you need! 📊✨ Whether you're buying or selling, I'm here to help you navigate your local market. Want to chat? DM me! #RealEstate #MarketUpdate #LoudounCounty #ClarkeCounty #Fairfax #Purcellville #Leesburg #HomeBuying #RealEstateAgent #PropertyInsights

Discover the advantages of working with a local REALTOR® like Geri Deane! 🏡✨ With her in-depth market knowledge and dedication to client satisfaction, you're in great hands. Reach out to find your dream home in Loudoun, Clarke, Fairfax, Purcellville, and Leesburg! 💖🏠

Link in bio for more!

#LocalRealtor #HomeBuying #RealEstateExpert #LoudounCounty #FairfaxCounty #ClarkeCounty #VirginiaHomes #Realtor

Discover the advantages of working with a local REALTOR® like Geri Deane! 🏡✨ With her in-depth market knowledge and dedication to client satisfaction, you're in great hands. Reach out to find your dream home in Loudoun, Clarke, Fairfax, Purcellville, and Leesburg! 💖🏠

Link in bio for more!

#LocalRealtor #HomeBuying #RealEstateExpert #LoudounCounty #FairfaxCounty #ClarkeCounty #VirginiaHomes #Realtor

🌟 Real estate knowledge is a powerful tool that can save you time, money, and stress. Dive into our latest article to discover why professional expertise is a game-changer in property transactions. 🏡✨

#RealEstateTips #ExpertiseMatters #PropertyInvesting

🌟 Real estate knowledge is a powerful tool that can save you time, money, and stress. Dive into our latest article to discover why professional expertise is a game-changer in property transactions. 🏡✨

#RealEstateTips #ExpertiseMatters #PropertyInvesting

Fall is here! 🍂✨ Embrace the beauty and warmth of the season while exploring amazing real estate opportunities. Whether you're buying, selling, or just dreaming, let's talk! Link in Bio

Fall is here! 🍂✨ Embrace the beauty and warmth of the season while exploring amazing real estate opportunities. Whether you're buying, selling, or just dreaming, let's talk! Link in Bio

🌟 Looking to buy or sell? Geri Deane's website is your go-to resource! Explore valuable insights and schedule a consultation to get started. 🏡✨

Link in bio!

#GeriDeane #RealEstate #LoudounCounty #VirginiaHomes #ClarkeCounty #FairfaxCounty #Purcellville #Leesburg #HouseHunting #RealEstateResources

🌟 Looking to buy or sell? Geri Deane's website is your go-to resource! Explore valuable insights and schedule a consultation to get started. 🏡✨

Link in bio!

#GeriDeane #RealEstate #LoudounCounty #VirginiaHomes #ClarkeCounty #FairfaxCounty #Purcellville #Leesburg #HouseHunting #RealEstateResources

🏡✨ Are you ready to navigate the home buying process? From understanding financing options to what to expect at closing, I’m here to guide you every step of the way! 💪 Let's make your dream home a reality in the beautiful Loudoun, Clarke, Fairfax, Purcellville, and Leesburg areas! Drop a comment if you have questions! 💬 #HomeBuying #RealEstate #VirginiaHomes #DreamHome #HomeBuyers #GeriDeane #YourHomeJourney

🏡✨ Are you ready to navigate the home buying process? From understanding financing options to what to expect at closing, I’m here to guide you every step of the way! 💪 Let's make your dream home a reality in the beautiful Loudoun, Clarke, Fairfax, Purcellville, and Leesburg areas! Drop a comment if you have questions! 💬 #HomeBuying #RealEstate #VirginiaHomes #DreamHome #HomeBuyers #GeriDeane #YourHomeJourney

Preparing for your mortgage just got easier. 🌟 Dive into clear steps—from assessing your financial health to gathering essential documents and navigating the pre-approval process. Take confident strides toward your dream home today! 🚪🏡#HomeBuyingTips #MortgageGuide #FinancialPlanning

Preparing for your mortgage just got easier. 🌟 Dive into clear steps—from assessing your financial health to gathering essential documents and navigating the pre-approval process. Take confident strides toward your dream home today! 🚪🏡#HomeBuyingTips #MortgageGuide #FinancialPlanning

15019 Lynnford Ct, Waterford Open Sunday July 27 2-4:00
#yournextdestination #youwillloveit #dontmissout #betterthannew #gerideane.com

15019 Lynnford Ct, Waterford Open Sunday July 27 2-4:00
#yournextdestination #youwillloveit #dontmissout #betterthannew #gerideane.com

Hello Winter ❄️ More To Come ❄️❄️❄️❄️❄️❄️

Hello Winter ❄️ More To Come ❄️❄️❄️❄️❄️❄️

Happy Heavenly 75th Anniversary Mom and Dad 💚💚 Best parents ever 🎉🍾

Happy Heavenly 75th Anniversary Mom and Dad 💚💚 Best parents ever 🎉🍾

Stop by to tour your next 🏠

Stop by to tour your next 🏠

Welcome to The Nook which is easily accessible from The Nest 💚

Welcome to The Nook which is easily accessible from The Nest 💚

Welcome to Purcellville 💚 The Nest & Nook just opened and has so much to offer. These are photos of the Nest. Will share photos of Nook which is the perfect setting to enjoy a coffee/tea/sweet and savory for all ages.

Welcome to Purcellville 💚 The Nest & Nook just opened and has so much to offer. These are photos of the Nest. Will share photos of Nook which is the perfect setting to enjoy a coffee/tea/sweet and savory for all ages.

I love to support local businesses🌞 Thank You Emily at Melissa Franklins for a fabulous day 💄💋💚

I love to support local businesses🌞 Thank You Emily at Melissa Franklins for a fabulous day 💄💋💚

My peonies are beautiful and blooming 💚 My favorite part of Spring 🌞💚

My peonies are beautiful and blooming 💚 My favorite part of Spring 🌞💚

So honored to receive this recognition 💚 Thank you for all of the opportunities to make a difference in my REALTOR role 💚

So honored to receive this recognition 💚 Thank you for all of the opportunities to make a difference in my REALTOR role 💚

Whohooooo we are ready. Come see us 22West Market Market St 💚👯‍♀️👯‍♀️👯‍♀️🌷🌻

Whohooooo we are ready. Come see us 22West Market Market St 💚👯‍♀️👯‍♀️👯‍♀️🌷🌻

Get ready for a fun day tomorrow at the Leesburg Flower & Garden Show 🪴Beautiful 🌞 Delicious Food 🥘 Creative Ideas for Outdoor Living & So Much More 🥳. You Will Love It 💚

Get ready for a fun day tomorrow at the Leesburg Flower & Garden Show 🪴Beautiful 🌞 Delicious Food 🥘 Creative Ideas for Outdoor Living & So Much More 🥳. You Will Love It 💚

Save the date - the weather will be perfect🌞 I will be in front of our office on Saturday 🌷Stop by to receive a fun shopping bag, water and treats 🌻 See you then 🪴

Save the date - the weather will be perfect🌞 I will be in front of our office on Saturday 🌷Stop by to receive a fun shopping bag, water and treats 🌻 See you then 🪴

“Yep, it’s real! This water-filtered air clear didn’t cost me a dime! It traps allergens in the water and aromatizes your air! Get yours today! 👇 (Use my name!)
www.freerainmate.com

“Yep, it’s real! This water-filtered air clear didn’t cost me a dime! It traps allergens in the water and aromatizes your air! Get yours today! 👇 (Use my name!)
www.freerainmate.com

My last day of my 1st chemo treatment 🥳 Thank you Joy Greenly for my T-shirt 💚 5 more to go 💚 #makethebestofeachday #stayingpositve #beatlymphoma

My last day of my 1st chemo treatment 🥳 Thank you Joy Greenly for my T-shirt 💚 5 more to go 💚 #makethebestofeachday #stayingpositve #beatlymphoma

Gorgeous day, gorgeous living space inside and out 🏡 Would you like to know more feel free to contact me at 703.615.4126

Gorgeous day, gorgeous living space inside and out 🏡 Would you like to know more feel free to contact me at 703.615.4126

McEnearney Associates profiles the most important market indicators for the DMV area every month! This includes:

• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit the link in bio.

#dmvrealtor #dmvrealestate #marketstats #realestate #realestateexpert #contractactivity #homebuying #homeselling

McEnearney Associates profiles the most important market indicators for the DMV area every month! This includes:

• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit the link in bio.

#dmvrealtor #dmvrealestate #marketstats #realestate #realestateexpert #contractactivity #homebuying #homeselling

November often feels like the calm before the storm that is the winter holiday season. The weather is cool, but hopefully not too cold to enjoy the outdoors. Between fall home maintenance projects, it's a great time to gather with friends or take some quiet time to relax. Check out these top selections for things to do around the DMV this November.

#novemberevents #dmvliving #dmvrealtor #dmvrealestate

November often feels like the calm before the storm that is the winter holiday season. The weather is cool, but hopefully not too cold to enjoy the outdoors. Between fall home maintenance projects, it's a great time to gather with friends or take some quiet time to relax. Check out these top selections for things to do around the DMV this November.

#novemberevents #dmvliving #dmvrealtor #dmvrealestate

Contract activity for the week of November 5 - 11, 2023, in the Metro DC area fell by 3.8% compared to last year's seven-day period.

Key Takeaways:
· Despite the overall drop, three of the six jurisdictions in the metro area posted increases in contract activity. That follows four areas that posted increases the previous week.
· Year-to-date, contract activity is down 18.6%, but that gap has narrowed over the last few months. Through May, contract activity was down over 25%.
· Homes that went under contract were on the market for an average of 31.2 days, ten days faster than this time last year.

Why it Matters:
· Even though mortgage interest rates almost reached 8% in early November, they are down a quarter of a percent over the last week.
· Home prices are still rising at a modest pace, but we've been in a housing recession this year in the metro area because so many buyers have been pushed to the sidelines by high rates.
· Slowly but surely, buyers seem to be adjusting to high rates, and if we haven't reached the bottom of the recession, we're pretty close.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

Contract activity for the week of November 5 - 11, 2023, in the Metro DC area fell by 3.8% compared to last year's seven-day period.

Key Takeaways:
· Despite the overall drop, three of the six jurisdictions in the metro area posted increases in contract activity. That follows four areas that posted increases the previous week.
· Year-to-date, contract activity is down 18.6%, but that gap has narrowed over the last few months. Through May, contract activity was down over 25%.
· Homes that went under contract were on the market for an average of 31.2 days, ten days faster than this time last year.

Why it Matters:
· Even though mortgage interest rates almost reached 8% in early November, they are down a quarter of a percent over the last week.
· Home prices are still rising at a modest pace, but we've been in a housing recession this year in the metro area because so many buyers have been pushed to the sidelines by high rates.
· Slowly but surely, buyers seem to be adjusting to high rates, and if we haven't reached the bottom of the recession, we're pretty close.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

What's the best way to end a busy workday?

Happy hour, of course! 🙌

I enjoyed networking with my #MCE colleagues at @naturecomposed's happy hour last week. 🌺

The food and margaritas from @bluewatercocina were fantastic and so was the company!

@tsghuntcountry #happyhour #networking #mcelife #middleburgva #varealtor #varealestate #gerideanerealtor

What's the best way to end a busy workday?

Happy hour, of course! 🙌

I enjoyed networking with my #MCE colleagues at @naturecomposed's happy hour last week. 🌺

The food and margaritas from @bluewatercocina were fantastic and so was the company!

@tsghuntcountry #happyhour #networking #mcelife #middleburgva #varealtor #varealestate #gerideanerealtor

Honoring those who served. Thank you for your service.

Honoring those who served. Thank you for your service.

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

The most important part of my job is my relationship with my clients. I "win" when my clients find the home of their dreams, whether they are first-time home buyers, sellers, or tenants.

I support my clients during the real estate process, ensuring all of my contacts (lenders, inspectors, settlement attorneys) are experts and take excellent care of them.

Many of my clients are making a life transition, and I support them with positivity and am there for them....always!

If you are looking to make a move, send me a DM and let's chat! I would love to help you achieve your real estate goals.

#varealtor #leesburgva #realtoring #realestateagent #varealestate #realtorlife #lovemyjob #realestatelife #homebuying #homeselling #gerideanerealtor

The most important part of my job is my relationship with my clients. I "win" when my clients find the home of their dreams, whether they are first-time home buyers, sellers, or tenants.

I support my clients during the real estate process, ensuring all of my contacts (lenders, inspectors, settlement attorneys) are experts and take excellent care of them.

Many of my clients are making a life transition, and I support them with positivity and am there for them....always!

If you are looking to make a move, send me a DM and let's chat! I would love to help you achieve your real estate goals.

#varealtor #leesburgva #realtoring #realestateagent #varealestate #realtorlife #lovemyjob #realestatelife #homebuying #homeselling #gerideanerealtor

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Every Vote Counts!

Every Vote Counts!

Contract activity for the week of October 29 – November 4, 2023 in the Metro DC area rose by 5.3% compared to the same seven-day period last year.

Key Takeaways:
· Remarkably, four of the six jurisdictions in the metro area posted increases in contract activity. And this is the first overall week-over-year increase this year.
· Don't read too much – or too little – into the positive news this week because one week doesn't make a trend. But it is nonetheless encouraging.

Why it Matters:
· Even though mortgage interest rates are still near 8%, they ticked down slightly last week.
· That modest decrease in rates, combined with crisp, pleasant fall weather all week, may have been enough to coax some buyers back into the market.
· Once again, homes that went under contract sold much faster than last year – almost two weeks faster. Overall, last week, homes went under contract in an average of 30.2 days, compared to 42.8 days this same week last year. Only Washington, DC, had higher days on the market.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

Contract activity for the week of October 29 – November 4, 2023 in the Metro DC area rose by 5.3% compared to the same seven-day period last year.

Key Takeaways:
· Remarkably, four of the six jurisdictions in the metro area posted increases in contract activity. And this is the first overall week-over-year increase this year.
· Don't read too much – or too little – into the positive news this week because one week doesn't make a trend. But it is nonetheless encouraging.

Why it Matters:
· Even though mortgage interest rates are still near 8%, they ticked down slightly last week.
· That modest decrease in rates, combined with crisp, pleasant fall weather all week, may have been enough to coax some buyers back into the market.
· Once again, homes that went under contract sold much faster than last year – almost two weeks faster. Overall, last week, homes went under contract in an average of 30.2 days, compared to 42.8 days this same week last year. Only Washington, DC, had higher days on the market.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

It's time to Fall Back! Don't forget to set your clocks back one hour tomorrow. ⏰

It's time to Fall Back! Don't forget to set your clocks back one hour tomorrow. ⏰

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Happy Halloween!

Happy Halloween!

Contract activity for the week of October 22 - 28, 2023, in the Metro DC area fell by 12.0% compared to the same seven-day period last year.

Key Takeaways:
· High mortgage interest rates continue to soften buyer demand. There were 9% fewer contracts last week than just the week before – but remember, that’s not unusual for late October.
· Over the last couple of weeks, the Virginia side of the Potomac has fared a little better than the DC/MD side.

Why it Matters:
· Last week, there was a 29.5% decrease in the number of new listings coming on the market compared to the same week last year, and a 6.2% drop from just last week.
· This seemingly contradictory market of falling buyer demand and homes selling for fewer days on the market continues.
· Overall, homes sold an average of 30 days last week, five full days faster than last year. There isn’t enough inventory, and it’s not going to change anytime soon.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

Contract activity for the week of October 22 - 28, 2023, in the Metro DC area fell by 12.0% compared to the same seven-day period last year.

Key Takeaways:
· High mortgage interest rates continue to soften buyer demand. There were 9% fewer contracts last week than just the week before – but remember, that’s not unusual for late October.
· Over the last couple of weeks, the Virginia side of the Potomac has fared a little better than the DC/MD side.

Why it Matters:
· Last week, there was a 29.5% decrease in the number of new listings coming on the market compared to the same week last year, and a 6.2% drop from just last week.
· This seemingly contradictory market of falling buyer demand and homes selling for fewer days on the market continues.
· Overall, homes sold an average of 30 days last week, five full days faster than last year. There isn’t enough inventory, and it’s not going to change anytime soon.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Here are the top three reasons you should work with a Realtor when buying/selling your home. 🏡

👉 Expertise and Market Knowledge - real estate is local. Working with a realtor can help you find the right property at the right price. We have in-depth knowledge of neighborhoods, property values, and the latest market trends.

👉 Negotiation Skills - Whether you're buying or selling a property, a Realtor can negotiate to secure favorable terms, such as the purchase price, contingencies, repairs, and other contract details.

👉 Access to a Network and Resources - Realtors have access to a vast network of industry professionals, including mortgage lenders, inspectors, appraisers, contractors, and other essential service providers. We recommend trusted experts to assist with various aspects of the real estate transaction, ensuring the process is efficient and reliable.

These advantages can lead to better outcomes, whether buying or selling a property.

Ready to make a move? I'm here for you! Send me a DM or comment below to get started!

#varealtor #varealestate #homebuying #homselling #realtoring #realtorsofig #realtorsofinstagram #gerideanerealtor

Here are the top three reasons you should work with a Realtor when buying/selling your home. 🏡

👉 Expertise and Market Knowledge - real estate is local. Working with a realtor can help you find the right property at the right price. We have in-depth knowledge of neighborhoods, property values, and the latest market trends.

👉 Negotiation Skills - Whether you're buying or selling a property, a Realtor can negotiate to secure favorable terms, such as the purchase price, contingencies, repairs, and other contract details.

👉 Access to a Network and Resources - Realtors have access to a vast network of industry professionals, including mortgage lenders, inspectors, appraisers, contractors, and other essential service providers. We recommend trusted experts to assist with various aspects of the real estate transaction, ensuring the process is efficient and reliable.

These advantages can lead to better outcomes, whether buying or selling a property.

Ready to make a move? I'm here for you! Send me a DM or comment below to get started!

#varealtor #varealestate #homebuying #homselling #realtoring #realtorsofig #realtorsofinstagram #gerideanerealtor

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Take a look at the newly listed homes at McEnearney Associates! To view the full list, click on the link in bio. #homesofinstagram #dmvrealtor #dmvrealestate

Contract activity for the week of October 15 - 21, 2023, in the Metro DC area fell by just 3.2% compared to last year's seven-day period.

Key Takeaways:
· Mortgage interest rates hit 8% last week, a full point higher than this time last year. Yet, three of the six jurisdictions we track posted increases in contract activity.
· Northern Virginia, Loudoun County, and Prince William County all had a positive week, and Prince George's County was almost unchanged (down just 0.6%). The outlier was Washington, DC, with a 26.4% drop in buyer activity. But that significant drop is primarily because of the continuing weakness in the condo market, which saw a 36% drop last week.

Why it Matters:
· Buyers have adjusted to the higher interest rate environment better than sellers, as we continue to see a steep drop in new listings coming on the market. Last week, there was a 32% decrease in the number of new properties.
· We continue to be encouraged by the fact that the market isn't softer than it is. The cost to purchase a home is significantly higher than a year ago, and buyer activity has held up remarkably well in the face of the increase.
· And the lack of listing inventory contributes to the fact that homes are selling a full week faster than last year – an average of 27 days last week vs. 35 last year.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

Contract activity for the week of October 15 - 21, 2023, in the Metro DC area fell by just 3.2% compared to last year's seven-day period.

Key Takeaways:
· Mortgage interest rates hit 8% last week, a full point higher than this time last year. Yet, three of the six jurisdictions we track posted increases in contract activity.
· Northern Virginia, Loudoun County, and Prince William County all had a positive week, and Prince George's County was almost unchanged (down just 0.6%). The outlier was Washington, DC, with a 26.4% drop in buyer activity. But that significant drop is primarily because of the continuing weakness in the condo market, which saw a 36% drop last week.

Why it Matters:
· Buyers have adjusted to the higher interest rate environment better than sellers, as we continue to see a steep drop in new listings coming on the market. Last week, there was a 32% decrease in the number of new properties.
· We continue to be encouraged by the fact that the market isn't softer than it is. The cost to purchase a home is significantly higher than a year ago, and buyer activity has held up remarkably well in the face of the increase.
· And the lack of listing inventory contributes to the fact that homes are selling a full week faster than last year – an average of 27 days last week vs. 35 last year.

#weeklymeter #dmvrealtor #dmvrealestate #realtoring #realestatemarket

McEnearney Associates profiles the most important market indicators for the DMV area every month!

This includes:
• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit the link in bio.

#dmvrealtor #dmvrealestate #marketstats #realestate #realestateexpert #contractactivity #homebuying #homeselling

McEnearney Associates profiles the most important market indicators for the DMV area every month!

This includes:
• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit the link in bio.

#dmvrealtor #dmvrealestate #marketstats #realestate #realestateexpert #contractactivity #homebuying #homeselling

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Take a look at this weekend's open house guide! For more information on these homes visit the link in bio. #dmvrealestate #openhouseguide #realestate

Open House this Sunday, 1-4 PM! 🏡

Welcome to your new sanctuary in the desirable Exeter Community, a picturesque neighborhood known for its charming tree-lined streets and inviting sidewalks. This stunning single-family detached home perfectly blends modern luxury and timeless elegance. With 4 bedrooms, 3.5 full baths, and an array of desirable features, this residence is a true gem. Offered at $735,000.

Send me a DM to schedule a tour!

#leesburgva #varealtor #varealestate #openhouse #realtoring #realestate #newlisting #gerideanerealtor

Open House this Sunday, 1-4 PM! 🏡

Welcome to your new sanctuary in the desirable Exeter Community, a picturesque neighborhood known for its charming tree-lined streets and inviting sidewalks. This stunning single-family detached home perfectly blends modern luxury and timeless elegance. With 4 bedrooms, 3.5 full baths, and an array of desirable features, this residence is a true gem. Offered at $735,000.

Send me a DM to schedule a tour!

#leesburgva #varealtor #varealestate #openhouse #realtoring #realestate #newlisting #gerideanerealtor

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Geri Deane

REALTOR®

CALL OR TEXT

(703) 615-4126

EMAIL

geri.deane@huntcountrysir.com

Sotheby’s International Realty® is a registered trademark and used with permission. This website is not the official website of Sotheby’s International Realty. Sotheby’s International Realty does not make any representation or warranty regarding any information, including without limitation its accuracy or completeness, contained on this website. Real estate agents affiliated with Sotheby’s International Realty, Inc. and some independently owned offices are independent contractor sales associates and are not employees of Sotheby’s International Realty. Equal Housing Opportunity.

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