Press Club

Just Listed in Arlington

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Summer made its entry this week with hot temps and low real estate sales.

On cue, our market shifted downward a bit after the July 4th holiday with only 59 ratified contracts for the week. But sellers did their part by listing 79 homes which helps with our low inventory problem.

July and August are traditionally good times for buyers as fewer purchasers are in the market competing, so those who are can actually negotiate a deal. Remember, the market picks up again in September right after Labor Day.

Mortgage rates inched up just a few basis points this week to 4.65%-4.75% for 30-yr fixed rate with no points. Rates are 1/2% higher than a year ago.

While economists expect mortgage rates to continue a slow steady climb, we can expect a few periods of drops as investor capital seeks the safe haven of US bonds during our current and escalating trade wars with numerous countries.

While the price of all kinds of goods are likely to go up, we might get a few reprieves on mortgage rates. So pay attention and time your home purchases strategically. Good luck.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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