If we were going to make up statistics about our local real estate market that would make a seller happy, they would look something like this:
We didn’t make these numbers up! They are the actual numbers from the Real Estate Information Network (our local MLS). The majority of them are year over year comparables (July 2019 vs.July 2018).
Looking at some other numbers, there is an interesting trend when comparing the numbers for June and July of this year. July had over two thousand fewer active listings than there were in June, but July had a small increase in the number of pending sales (100, roughly 3%) and settled or closed sales (62, roughly 2%).
Because the number of listings is down, this is a good time to list your house, especially if it is under $300,000, where inventory is the tightest. It will be interesting to see where the August numbers come in, since it is traditionally one of the slowest months for sales.
We do have some good news for buyers and everyone with a mortgage. If you haven’t checked your current interest rate in the last two or three years, you should read what Bill and Hunter Duggan with Atlantic Bay have to say below.
During the last update we asked: Over the last three years in zip codes 23434, 23437, and 23438 how many houses were listed and sold for more than $600,000? The answer is that 12 homes sold for over $600,000, and Lee was the only agent to have listed and sold more than one of those homes. Whatever your home’s price range is, we are ready, willing and able to help get top dollar for your home.
Give us a call to talk about your options: Lee 757-726-SOLD (7653), Harry 757-434-9084, or just reply back to this email.
Lee and Harry
Grab Your Dog and Go!
Who doesn’t like a walk in the park with your favorite 4 legged friend? So, grab your dog and join your friends and neighbors at Bennett’s Creek Park for the 11th Annual Mutt Strut.
This year’s event will be held at Bennett’s Creek Park on Sunday, September 15, from 11am-4pm promises lots of pet related activities and fun for the entire family, including the four-legged ones. Best of all, it’s free!
Thanks to the generous support of businesses and individuals in our community, Suffolk Humane has been able to make a huge difference for so many animals since it was founded in 2007. Their goal is to raise $35,000 to help make 2019 the best year yet!
Make a plan to spend the day in the park and don’t forget there are lots of pets looking for their fur-ever homes that will be available at the Adopt-a-Thon on Saturday and Sunday, September 14 and 15 at the PetSmart stores in Western Branch and Northern Suffolk.
Interest rates have been moving lower since the start of June and have recently reached the lowest levels we have seen in three years. Not only is it a great time to purchase, it’s a great time to refinance. If you would like to know how much you can afford when purchasing, or how much you can save with refinancing, give me a call.
Bill Duggan, Sr. Mortgage Banker, Atlantic Bay Mortgage Group (757)615-5172 or [email protected]
When The Weather Gets Bad
We are heading into peak Hurricane Season and we still have a few weeks left to deal with our usual and sometimes severe thunderstorms. Understanding severe weather terms can help you and your loved stay safe when the weather gets bad.
Hurricane Warning: Hurricane conditions are expected in the warning area within the next 48 hours. Complete your storm preparations. Leave the affected area if directed by local officials–Know your zone.
Hurricane Watch: Issued when a hurricane with sustained winds of 74 mph (65 knots, 118 km/h) or higher is possible.
Severe Thunderstorm Watch: There is a possibility that severe thunderstorms may occur in your area.
Severe Thunderstorm Warning: A severe thunderstorm is occurring or will likely occur soon in your area.
Flash Flood Watch: Due to heavy or excessive rainfall in a short period of time; your area may experience flooding.
Flash Flood Warning: Flash flooding is in progress, imminent, or highly likely. Seek higher ground immediately or evacuate if directed to do so.
Tornado Watch: Tornadoes are possible in your area. Remain alert for approaching storms.
Tornado Warning: A tornado has been sighted or indicated by weather radar. Take shelter immediately.
Prepare For Severe Weather: More steps that you can take to keep yourself and loved ones safe include: An emergency kit prepared with supplies. Include things such as: Alternate fuel source for heating your home, flashlights and batteries, blankets, food that needs no cooking or refrigeration, 3 day supply of water, prescription medicines, battery operated radio, flashlights and cell phone chargers. Prepare your car with emergency supplies. Check batteries in smoke detectors and carbon monoxide monitors. Update important documents: insurance information and home inventory. Store them in your emergency kit or a waterproof container.
Remember, days without power means days without electronic devices. Make sure that you have a written list of important phone numbers and medications!
For more information and printable checklist visit the Virginia Department of Health at: