Scott MacDonald's Blog

Real Estate Broker/Owner - RE/MAX Gateway
Current Market news in Northern Virginia Real Estate.
Our group met today for our regularly scheduled meeting and the conversations were lively as usual.  Any time you get together with a group of movers and shakers in the industry with a history of production, sharing, and enthusiasm, how can you not get excited? Here is what we covered:  What is h...
In a recent listing presentation I explained to the sellers that selling their home was like a crew team rowing down a river.  Picture the scenario - a boat going down the Potomac River in front Georgetown and you have the team in the boat - in order to get from point A to point B, everything nee...
Inventory levels on active listings are creeping up and they have been consistently increasing since the beginning of the year.  We have seen an escalation in the number of houses going on the market each week, week over week except one.  This is definitely something to watch especially as mortga...
There is so much confusion in what is being reported about the real estate market it is understandable why so many people are unsure of what to do in regards to housing.  Information recently reported from Standard and Poor's is just one reporting outlet where mixed signals are being sent out to ...
The Northern Virginia real estate market remains strong for both buyers and sellers.  Although inventory levels have increased slightly over the last few weeks – more houses are selling as well!  Our absorption rate remains steady at a 1.8 month supply of houses!  Be careful what you read.  In a...
  Condominium homes have always been, and will likely always be, an efficient and economical route to becoming a first-time homeowner. They can offer the comfort, prestige, and even luxury appointments that apartment living may lack, often at a cost that is not much different than rent. With the ...
There are houses selling…2 contracts per listing of late – and in different price points, $250,000 and $850,000.  The contracts came in close to list price even though they were in competition. Some agents like Equator, the new Bank of America short sale portal – because of their quick responses ...
Northern Virginia is fortunate to have the fundamentals to be one of the top real estate markets in the country.  Residential real estate prices in the area had declined considerably in many areas over the past few years but have likely bottomed in 2009.  The demand for real estate in Northern Vi...
AMSHI is charging $5,000 to buyers and $5,000 to sellers to negotiate short sales…short sales are getting tougher – for example, Bank of America is taking forever and in many cases sends you back to square one.  Banks are setting unrealistic expectations for closing dates with approvals on their...
The question surrounding our market lately is shadow inventory and how will it affect us.  Well in my opinion, it is a very good question as it is a question I have been asking myself and our agents for several months.  Over the past 18-24 months we have heard about foreclosure being released int...

Scott MacDonald

Scott MacDonald, Broker of REMAX Gateway
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