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P. Dennis Connelly

Item of Value Letter May 2022

Real Estate Market Update The housing market is influenced by the state of the economy. With so many economic developments recently, you may be wondering about the impact on the housing market. To keep you informed, we looked at a few factors that are currently affecting the real estate market. Rising Mortgage Rates The recent increase in mortgage interest rates – currently over 5% – are the highest they’ve been in more than 14 years. Although still historically low, these higher rates have resulted in hesitant buyers, so fewer people are looking for homes. Persistent Seller’s Market It’s still a […]

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Real Estate as a Hedge Against Inflation

With the recent stock market volatility, inflation and all that’s going on in the world, you may be looking for opportunities to diversify and protect your investment portfolio. Over the long term, real estate provides steady appreciation and is usually an excellent investment response to inflation. Savvy consumers are becoming increasingly interested in owning property to get the many benefits that help offset stock market volatility and inflation.

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Item of Value Letter

Mr. & Mrs. Homeowner, Spring Home Maintenance Tips March is here, bringing rising temperatures, longer days, and the first signs of spring. Before the arrival of April showers, it’s a good time to get started on some spring maintenance tasks to shed the winter layers and give your home a fresh new start. Groom your lawn. Get ready to mow by picking up debris that accumulated on your lawn over the winter. Fill bare spots with grass seed and fertilizer. Clear gutters and downspouts. Prevent damage from spring rains by clearing out debris. Make sure water is diverted away from […]

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Item of Value Letter

Hi Everyone, Tax season is upon us and this year, the filing deadline is April 18. The deadline was pushed back from April 15 because of Emancipation Day, which is a holiday in Washington, D.C. As you prepare your 2021 taxes, here are a few housing-related items to keep in mind. 

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March 2020 Item of Value

tax time

Hi Everyone, March has arrived and with the first signs of spring, we’re reminded that tax season is upon us and the April 15 tax filing deadline will be here before we know it. As you prepare your 2019 taxes—if you haven’t already done so—here are a few housing-related items to keep in mind. Home interest deductions. Mortgages that closed before Dec. 14, 2017: A married couple filing jointly and single filers can deduct mortgage interest on a combined debt limit of $1 million. Mortgages that closed after Dec. 14, 2017: For both primary residences and second home loans, mortgage […]

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April News Letter of Value

housing rates increasing

I am sure you’ve heard the headlines: Interest rates are rising. Homeownership is no longer affordable. The real estate market is headed for a bubble. While what is being said in the news media attracts attention, it’s critical to take a broader look at the housing market and historical trends to understand what’s actually occurring. Housing affordability is still high. The U.S. Housing Affordability Index (HAI) surpassed 155 this January. That means the average U.S. family has 155 percent of the income needed to purchase a home. This is higher than at any time between 1980 and 2008—when the housing […]

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January 2020 Item of Value

2020 homes

By: P. Dennis Connelly at CRS Long & Foster Real Estate Happy New Year! The start of the year is always an exciting time. It’s a chance to plan for the future and look back on the past year. It’s also the time of year that I hear from many clients who want to know how the real estate market ended and where it’s headed. Getting perspective on the past year’s trends helps us see how the future will unfold. Here are a few of the key developments the real estate market experienced in 2019. Interest rates were low, so money […]

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December 2019 Item of Value

for sale sign

By: P. Dennis Connelly at CRS Long & Foster Real Estate Hi Everyone, If you’re thinking of buying or selling a home next year, you’re likely wondering what’s expected to happen in the housing market. Here are a few trends that our team at Long & Foster Real Estate expects to impact the market in 2020. Resolution of uncertainty in the world economy could affect interest rates. Interest rates have been at historic lows the past few years largely due to investors flocking to US treasuries and rates are likely to remain low next year.  However, should more stability in […]

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Special Item of Value: iBuyers

home value

By: P. Dennis Connelly at CRS Long & Foster Real Estate Hi Everyone, Special Item of Value: iBuyers If you’re thinking about selling, you might be considering an iBuyer—companies that provide nearly instant purchase offers on homes. iBuyers bring the certainty of a specific sale date and relieve you of making home improvements or opening your house to buyers. But when it comes to selling your home—often the largest investment most people ever make, is the convenience worth the cost? As with most financial decisions, it’s best to evaluate your options before selecting the path forward. That’s why I wanted […]

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November Item of Value – Third Quarter 2019 Update

for sale open house

By: P. Dennis Connelly at CRS Long & Foster Real Estate Hi Everyone, November Item of Value – Third Quarter 2019 Update While real estate is hyper-local and each area experiences its own ebbs and flows, a number of trends still affect the market as a whole. Throughout the third quarter of 2019, inventory challenges and declining mortgage rates certainly remained a common theme. If low mortgage rates have you thinking about buying or selling, continue reading to learn why the holiday season can be a great time to do so.  Declining mortgage rates. Despite most industry predictions at the […]

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