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Luxury for Less: Jan. 16

Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.

The big question on everyone’s mind right now is, “How will the government shutdown affect the housing market?”

The honest answer right now is, not that much. While there are many people who are opting to wait until this is over to buy, it hasn’t affected the overall market just yet. Time will tell how much it will affect the market but according to the National Association of Realtors, 75% of realtors have experienced no impact at all.

This prompted me to think of the VA loan, a loan I am very familiar with as an Army veteran myself and one that is not affected by the current shutdown. I thought this would be a great time to discuss how you can use your VA loan to get into an expensive real estate market such as this one.

When many people think of VA loans, they think of low limits and young soldiers trying to buy a home with little or no money down. In the D.C. metro area, we are surrounded more by senior officers and retired military who are embarking on their second career than young soldiers. The VA loan can be a great loan for those active military and veterans to get into what seems like an impossible market.

First, the VA loan “limit” is not a limit at all. It’s just the amount you can borrow with no money down. Any amount above that limit, $726,525 for the D.C. metro area, requires a down payment of 25%. For example; if you are purchasing a home for $1.3M, you are responsible for a 25% down payment of $573,475 or $143,368.

The VA loan has many benefits including possible lower interest rates so I encourage those who are eligible to consider using their VA loan rather than a conventional loan.

To better understand what loan programs work best for you, be sure to contact an experienced loan professional. To learn more about how the VA loan can work for you, contact my go to VA loan professional, Heather Devoto at [email protected].

Now check out some of this week’s luxury properties for less:

The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.

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Luxury for Less: Jan. 9

Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.

The real estate market is leaping into the new year with confidence. In the first week of the new year, 44 homes in the Tysons Corner region came on market either for the first time or after a holiday break.

As a matter of fact, the holidays did not stop the real estate market at all. In the month of December, 264 homes closed and 68 went under contract. This is within 1% of the closed homes in December of 2017 proving that in this area, there is always a market for sales.

The winter months can be a challenging time to buy or sell real estate with unpredictable weather, holiday celebrations and the focus on resolutions not real estate. It can also be a great time to move quickly and act strategically.

The spring market is well known for it’s bidding wars, abundance of open houses and buyers and sellers alike dipping their toes in the water to see how it feels. The winter market, in contrast, has buyers and sellers who are serious and ready to move.

For sellers, this means fewer people just checking out their home in case they decide to make a leap in the future and more people who are ready to write a contract. For buyers, there are fewer bidding wars and a better opportunity to buy a home without competition. Sellers who put their home on the market in winter are also more likely to be ready to sell, meaning they aren’t testing the market to see how high they can price. They price to sell! Fewer homes on the market mean less choice but a great opportunity to get a great home before the market heats up.

This week has quite a few great homes on the market at a great new price. Check out the homes recently reduced this week:

The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.

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Luxury for Less: Jan. 2

Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.

Happy New Year and welcome to 2019! The real estate market in 2018 was particularly difficult due to low inventory and high demand for housing. 2019 isn’t looking to slow down any time soon in respect to demand so think about getting your house on the market!

The Tyson’s Corner area has seen a lot of growth over the past ten years and prices are rising quickly. The real story of Tyson’s Corner real estate is the new construction detached homes popping up everywhere.

McLean saw the most dramatic rise in the average price of a new build from 2017. The average price of a new build dramatically climbed from $1.95M in 2017 to $2.1M in 2018 according to MLS data.

Vienna and Falls Church are rapidly ticking upward as well with the average price of a new build in Vienna surging from $1.57M to $1.77M and Falls Church from $1.26M to $1.37M. With land prices on the rise, homes will likely keep getting larger and more expensive.

The area also saw the emergence of luxury condos. Monarch in Tyson’s has 1 bedrooms starting at $629k and go up to $3.396M for a 3 bedroom and den. Verse is in the highly anticipated The Boro neighborhood and have units ranging in price from $500k to just over $1.2M.

The suburban areas around Tyson’s Corner are even getting in the luxury condo market with The Signet in Mclean and Glyndon Falls Condominiums in Vienna.

The luxury market in Tyson’s Corner show no signs of slowing down or falling in price. If you’re looking in the luxury market, despite the rising prices, there are still opportunities to buy in this market for less. Check out the listings below to see some of the luxury for less properties this week.

The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.

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