Where is the Housing Market Headed in 2020?

  • Some Highlights:

  • Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020!

  • According to CoreLogic, home prices will appreciate at a rate of 5.4% over the course of the year.

  • Experts predict that the number of homes sold next year will be equal to or outpace 2019.
2020 Outlook – Positive

8101 Connecticut Avenue Chevy Chase, MD

8101 Connecticut Avenue Condominium, recorded in 1982 by the Maryland State Department of Assessments and Taxation has seen increasing attention over the past several years. The 175 unit development is one of the few in Chevy Chase, MD and the surrounding area where you can find true value for your investment. With sale prices increasing 6.8% and 5.5% over the last two years, understanding this micro real estate market is becoming more and more advantageous. What has your experience with 8101 been?

2019 in REview

By providing market knowledge and experience that lets clients break down the process step by step, we make their experience a positive and exciting one. A metric for Laurel Murphy Real Estate to gauge whether we are achieving our goal is the percent of business we do from referrals or repeat business. 

In our first full year we serviced 50% sellers and 50% buyers with 85% from referrals or repeat clients. Helping family and friends of past clients is a responsibility we appreciate and take seriously.  Going into 2020 we have every intention to increase our numbers, one referral at a time. 

Real Estate Market Conditions Are Optimal Right Now For Home Buyers To Wield Their Increased Buying Power

This is a good time to use your increased buying power. The majority of buyers are occupied with holiday preparations and family gatherings. This means competition is lower when writing offers for a pre-Spring move-in date.

Although home prices were up 5.7% in the last year, according to First American, this is balanced by low interest rates and increasing wages. 

Concerned about the reports on inventory levels? This is another reason to combine the recourses available to you to navigate the process. Not only Searching on the internet, but more important working with a real estate professional and the network they have built will help ensure your success.

Sellers, It Doesn't Have to Feel Like You're Venturing Into The Unknown

Like Frozen II’s theme song “Into The Unknown”, the process of selling your home can feel like it’s shrouded in fog and even considering selling can be overwhelming. It’s been non-stop singing in my household since seeing it. (don’t worry, no spoilers here) But seriously, if you’re considering selling your home follow Elsa and Anna’s example and don’t go it alone. You don’t need to. Hiring a real estate professional who has a finger on the pulse of the market will make your selling experience a positive and educated one.

Let Laurel Murphy Real Estate guide you through the home selling process. Things to Consider When Selling Your House. Download a Sellers Guide

Contact me for an in depth consultation.

Referral Based Brokerage

My clients are some of the best. When they refer me to their friends and family members, it means that I have accomplished another one of my goals. That is making the process of selling or buying a home a positive experience that they are happy to share.
Congratulations to Tiara and Nelson, celebrating two years in their home in Manassas, Virginia, and to their friend and referral Adrienne, who purchased her first home a month ago.

November 11th is Veterans Day

But it doesn’t have to be November 11th to take advantage of a VA Home Loan. There can be so many obstacles for those who serve, buying a home shouldn’t be one of them. As a spouse, daughter, friend to and niece of a veteran, THANK You. Not sure if you are eligible, it’s not hard to find out. Let me help.

Veteran Home Owner

First Time Home Buyer

A real estate transactions success relies on ALL parties involved doing their part well, including agent, clients, inspectors, lender and title. The value is beyond measure when you’ve been connected to professionals who work together to get it done. Your agent is with you from the beginning, throughout closing. They’re in the optimal position to bring everyone together. An agent’s network of professionals is part of the value they add.

From left to right: Malcom Crane, Lender, Laurel, Happy Buyer Adrienne, Deirdre Brown, Title Attorney.

It’s a start..

I have been hesitating, waiting for just the right thing to say for my first blog post. Realizing that may take a while and remembering the reason I chose to publish a blog not a static website, I decided to just go for it.

We have plenty of time for future posts to cover the endless topics regarding real estate. For example, What’s the best way to start the home buying process?, What criteria should I use to determine the value of my house?, First time home buying 101, What is an appraisal?, How do I apply for a loan?, What do agents do anyway?, What makes a successful transaction?, Do I need a home inspection? Does it really matter if I use a “neighborhood expert” to sell my house?
If you have topics that you’re interested in or feel would be valuable to readers please share them in the comment section below.