Beltway Suburban Realty

Tag: #market

  • Spring 2025 Real Estate Market Insights

    April marks the start of the busy season in real estate. If you are considering buying or selling there are four points to keep in mind about the 2025 spring market.

    • Continued Price Appreciation. Home prices are still on the rise. The increases are less significant than in prior years. This moderate appreciation may ease the concerns of potential buyers. It suggests improvements in inventory and affordability.
    • Varying Mortgage Rates. With mortgage rate fluctuations, it is a good idea to consult a mortgage consultant sooner rather than later. Thirty-year rates have remained below 7% almost all year. Locking in a rate now can be beneficial for your long-term plans.
    • Example:
      • At a 3% interest rate: For a $300,000 mortgage, a 30-year loan would cost about $1,265 a month.
      • At a 6% interest rate: The same mortgage would increase to roughly $1,798 a month.
    • Growing Inventory. Real estate conditions vary by location. There is an increase in the number of homes for sale in parts of the Mid-Atlantic and Northeast. If you’re interested in a specific market, please reach out. I can track inventory levels and keep you updated on any listed properties that meet your needs.
    • Balanced Market. For the first time in years, experts predict a balanced market in 2025. This shift benefits both buyers and sellers after a long period during the pandemic when the market was dominated by sellers.

    Real estate trends vary significantly from one area to another. If you would like more details about our local community, feel free to contact me. I am happy to provide a competitive market analysis for your home or share insights from our local market reports.

    Plus, if you are house-hunting, consider attending Long & Foster’s Open House Weekend on April 26 and 27. You can find open houses near you here. Wishing you a happy spring.

    Spring Open House weekend April 26-27, 2025.
  • Importance of Credit Scores in Renting and Buying Homes

    Importance of Credit Scores in Renting and Buying Homes

    Credit scores are used in the US to assess if a person will pay debts. This score is important if you are interested in purchasing or renting a property.

    1. Loan Approval: Lenders use your credit score to evaluate your risk as a borrower. A high credit score suggests you are unlikely to default on payments. This makes lenders more willing to approve you for a mortgage. A low score can make it harder to get approved, especially for traditional loans.
    2. Interest Rates: If you are approved for a loan or mortgage, a high score results in a low interest rate. This saves you thousands of dollars over the life of a loan.
    3. Renting in Competitive Markets: In cities with limited housing availability, it is easier to rent with a high credit score.

    What is a good credit score?

    A “good” credit score can vary slightly depending on the scoring model used but generally speaking:

    • Excellent: 750–850
    • Good: 700–749
    • Fair: 650–699
    • Poor: 300–649

    If you want the best mortgage or loan offers, a score of 740 or higher is ideal. Scores in the “fair” range can still get you approved, but the terms are unlikely to be as favorable.

    How can you improve your credit score?

    Improving your credit score takes time, but with consistent effort, you can boost your score. Here are some effective strategies to help you improve your credit:

    1. Pay Your Bills on Time

    • Payment history is the biggest factor in your credit score. Always pay your credit cards, loans, and other bills on time. Even one missed payment can significantly impact your score.

    2. Reduce Credit Card Balances

    • Try to keep your credit utilization ratio below 30%. For example, if your credit limit is $1,000, try to keep your balance under $300. The lower your balance, the better it is for your score.

    3. Avoid Opening Too Many New Accounts

    • Each time you apply for a credit card or loan, it results in a hard inquiry. This temporarily lowers your score. Try to limit the number of new accounts you open.

    4. Check Your Credit Report for Errors

    • Errors on your credit report can drag down your score. Obtain your free credit report once a year from Equifax, Experian, and TransUnion to check for inaccuracies. Dispute any incorrect information.

    5. Settle Outstanding Debts

    • If you have any outstanding collections, try to pay them off or settle them. Some lenders are willing to remove a collection entry from your credit report if you settle the debt.

    6. Keep Old Accounts Open

    • Length of credit history: Keeping old accounts open can help improve your score by showing a longer credit history. Just make sure not to incur any fees for maintaining these accounts.

    7. Diversify Your Credit

    • A mix of credit types (credit cards, car loans, mortgages, etc.) can help your score. However, only take on new debt if you can manage it responsibly—don’t open unnecessary accounts just to diversify.

    8. Pay More Than the Minimum on Credit Cards

    • Paying more than the minimum will reduce your debt faster and lower your credit utilization ratio.

    9. Consider a Secured Credit Card

    • If you have limited credit history or a low score, applying for a secured credit card. This can be a good way to build or rebuild credit. With a secured card, you deposit an amount equal to your credit limit. Your responsible usage will be reported to the credit bureaus.

    Improving your credit score is a gradual process. While results take time, these steps will help set you on the right path. Keep monitoring your credit, and over time, your score will improve.

    #housing #credit #interest #realestate #MD #MontgomeryCounty #HowardCounty #FrederickCounty #AnneArundelCounty

  • Guide to Buying and Selling Homes This Spring

    Guide to Buying and Selling Homes This Spring

    Long and Foster: For every moment, it's the one.

    The spring real estate season is right around the corner and all predictions are for a very strong market.

    If you or a family member or friend are planning to buy or sell a home, you may wonder where to start.


    While making one of your most important financial decisions, it’s more important than ever to align yourself with a trusted real estate agent who can provide the necessary experience and resources needed when purchasing a home.


    Here are a few of the ways I’ll be there to guide you through every step of the way.


    Expertise & Market Knowledge: I will analyze market trends, property values, and assess the features of each property to identify listings based on your preferences and budget.


    Guidance & Support: I’ll help you make informed decisions by providing insights into neighborhoods, schools, and local amenities – guiding you to the finish line.


    Advocacy & Negotiation: I will strategize with you to craft the strongest possible offer and negotiate on your behalf to secure the best deal, to protect your interests and maximize your investment.


    Streamlining the Process: I’ll handle all the paperwork, schedule inspections, and coordinate with my Long & Foster partners, ensuring a smooth and efficient process from start to completion.


    Overall Value: Through expertise, advocacy, and dedication I’ll help you achieve your real estate goals and provide a rewarding home buying experience.

    Let me help you explore your options.

    At Long & Foster, we’ve created an All-Inclusive Real Estate Experience to streamline the buying and selling process. From Mortgage, Insurance and Inspection, to Title, Moving, Property Management and beyond, we do it all. Let’s schedule a time to meet.

  • Understanding the Annual Home Demand Index

    The Annual Home Demand Index is used by real estate professionals to gauge the home demand in a market area for a period of one year. It takes into account factors like buyer activity, inventory levels, and overall market conditions. It measures how strong or weak the demand is relative to the number of homes for sale.

    When it comes to the month a house is listed, the Annual Home Demand Index can offer some useful insights. For example: In January the home demand index is low, but buyer activity picks up in February to April. After that many houses get listed. So, listing a house before late spring and summer is a good time to catch increased demand but not compete with many listings.

    Seasonality: The index can highlight whether the time of year is a “high-demand” or “low-demand” period. For example, demand tends to be higher in spring and summer. Because many buyers prefer to move during these months due to school schedules and weather. A house listed in a month with high demand can get more buyer interest and higher offers.

    Price Strategy: If a house is listed during a month with a low demand it affects the pricing strategy. Homes listed during slow months need more competitive pricing or enhanced marketing to attract buyers.

    Buyer Competition: A high demand month usually indicates more buyers in the market, meaning there’s more competition for homes. Sellers listing during these months may see quicker sales and multiple offers. While homes listed during lower-demand months might sit on the market longer.

    Market Trends: By looking at trends over the course of the year, the index can determine whether a particular month favor sellers or buyers. If a market is experiencing high demand but the supply of homes is limited, a seller has an advantage for getting a higher price for their home.

    In summary, the Annual Home Demand Index provides a snapshot of the broader market conditions and helps both sellers and buyers understand the best timing for listing or purchasing a home. It can be a valuable tool for determining how competitive the market will be in the month a house is listed.

    See home demand index for Washington DC.

    To get a market report for your neighborhood, subscribe here:

    Washington D.C. | January 2025

  • 2024 Ends Strong: D.C. Real Estate Market Insights

    2024 Ends Strong: D.C. Real Estate Market Insights

    As we close out 2024, the housing market in Washington, D.C. and Montgomery County is showing remarkable strength, with several key indicators pointing toward robust growth. December data reveals a healthy surge in sales and prices. This is great news for both sellers and prospective buyers in these areas.

    1. Closed Sales See Significant Uptick

    In December 2024, closed sales in both D.C. and Montgomery County saw an impressive 24.4% increase compared to the same month last year. The rise in sales is a clear sign that both buyers and sellers are finding opportunities in the local market.

    2. Average Sale Price Rises

    The average sale price in the region rose by 8.7% year-over-year, signaling a continued upward trend in property values. This increase suggests that demand for homes in the D.C. metro area remains high, with home buyers willing to pay a premium for properties in desirable locations.

    3. Median Sale Price Gains Ground

    Similarly, the median sale price for homes in D.C. and Montgomery County also saw notable growth, climbing 7.4% from December 2023.

    4. Homes Are Selling Faster

    Despite higher prices, homes are selling quickly. The median days on the market in December 2024 was 24 days, indicating that homes are being snapped up at a relatively fast pace. This short time frame highlights the competitive nature of the market, where buyers are eager to secure a property before prices increase further. For sellers, this is encouraging news, as quick sales can help maximize returns.

    What Does This Mean for Buyers and Sellers?

    For buyers, the data shows that while prices are rising, the market remains active and there are still opportunities to find homes that meet their needs. However, quick decision-making may be essential as properties continue to sell fast.

    For sellers, December’s data signals a favorable environment, with strong demand and rising prices. If you’re considering listing your home, now could be a prime time to take advantage of the market’s momentum.

    In Conclusion

    The housing market in Washington, D.C. and Montgomery County ended 2024 on a high note, with substantial growth in sales and prices. With strong buyer demand, rising values, and homes selling quickly, both sellers and buyers should feel optimistic as we head into 2025. It’s clear that the D.C. metro area remains one of the most sought-after real estate markets in the country, and this trend looks set to continue well into the new year.

    Contact me to learn more or subscribe to neighborhood news. If you liked this post, please subscribe.