Selling a home at Smith Mountain Lake — whether it’s a cherished weekend retreat, a full-time residence, or an investment property—is more than just putting a listing online. Our local market is unique. The rhythm of lake life, the seasonal swings in buyer interest, and the high value of waterfront property make experience and insight essential.
Here’s something you need to know. The housing market is getting back to a healthier, more normal place. And even though it may not sound like it, this shift is actually a good thing.
It’s what you should expect. It’s just that our expectations have been skewed by the intense seller’s market over the past few years.
Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk.
According to the latest data from the National Association of Realtors (NAR), the number of homeowners selling without an agent has hit an all-time low (see graph below):
Headlines are saying home prices are starting to dip in some markets. And if you’re beginning to second guess your plans based on what you’re hearing in the media, here’s what you need to know.
It's true that a few metros are seeing slight price drops. But don't let that overshadow this simple truth. Home values almost always go up over time (see graph below):
Now that buyers have more options for their move, you need to be a bit more intentional about making sure your house looks its best when you sell. And proper staging can be a great way to do just that.
It’s not about making your house look super trendy or like it belongs in a magazine. It’s about helping it feel welcoming and move-in ready, so it's easy for buyers to picture themselves living there.
If you're a first-time homebuyer, chances are you'll come across some terms you’re not familiar with. And that can be overwhelming, especially while going through one of the biggest purchases of your life.
The good news is you don’t need to be an expert on real estate jargon. That’s your agent’s job. But getting to know these basic terms will help you feel a lot more confident throughout the process.
If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life.
If you have a 3% mortgage rate, you’re probably pretty hesitant to let that go. And even if you’ve toyed with the idea of moving, this nagging thought may be holding you back: “why would I give that up?”
As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says:
“... today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix: Some homes are flying off the market, while others sit for weeks.”
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