Spring, is that you? Warmer weather is officially in the forecast! Springtime is a period of awakening in NOVA. Northern Virginia is one of the few sweet spots in the U.S. that experiences all four seasons and spring is one of the most beautiful to witness. Soon, Northern Virginians can anticipate seeing higher traffic on local nature paths and bike trails as many begin to emerge from their winter cocoons. Outdoor (COVID friendly) events will start to take place in urban areas like Reston Town Center, Main Street Shopping Center in Vienna, Old Town Alexandria, and many more!
As plants and flowering trees begin to bloom, one of the most anticipated is the Dogwood, state tree of Virginia due to show off its beauty of white or pink flowers from lateMarch to mid May. Many locals also visit D.C. to witness the Cherry Blossom Tree Festival that is forecasted to be in peak bloom between April 2 and April 5 for 2021. Don't miss out on your chance to see all that Virginia has to offer in the springtime. Scroll down to see what other events are happening in celebration of the new season!
Fine Nest gladly provides the most up-to-date real estate information, along with COVID-19 updates, and other resources we hope are useful to assist you and your loved ones continue navigating this unusual time.
The Latest News
March Market Metrics Report
It is no surprise that the Spring 2021 Real Estate Market has been setting records nation wide. According to Realtor.com, February came in with half the amount of inventory in 2021 than it did in 2020. With such low inventory, even buyers hoping to take advantage of the lower interest rates are struggling to compete with multiple offers that are in turn increasing the sale price on homes. Despite these set backs, buyers are still opting to engaging in offer battles for home ownership over renting. This is because rental rates are currently near equal to mortgage rates, and buyers are desiring to pay rental rates towards mortgages vs property managers. On the flip side, Fine Nest listings are doing well and are going under contract in under 7 days with multiple offers above asking price. However, there is a change on the horizon for the July market...
Recently, the White House announced the extension and expansion of forbearance and foreclosure relief programs. Foreclosure moratorium for homeowners was extended through June 30, 2021. The mortgage payment forbearance enrollment window was extended to June 30, 2021. Those who entered forbearance on or before June 30, 2020 may also qualify for an additional six months of mortgage payment forbearance. With these changes, we can anticipate the current market to remain as it has been until these programs come to an end. Fine Nest will keep its readers updated on how these programs will effect the market closer to July.
Fine Nest still encourages home owners looking to sell their homes to take advantage of this competitive market and obtain the best value on their homes. Buyers are still encouraged to take advantage of the low interest rates. The competition remains extreme and it's recommended buyers should anticipate potentially placing multiple offers to purchase their dream home.
Third Stimulus Check: When are the $1400 Payments Coming and Who Is Eligible?
The inventory of homes for sale is astonishingly low. The pandemic is part of the reason, but there's a bigger picture. Read the in-depth explanation HERE
March Home Maintenance Checklist
Get your home summer ready now before you miss out on all the great weather ahead!
Clean The Gutters: Remove leaves, pine needles, and other debris that have accumulated over winter so your gutter system is ready to handle those April showers
Clean the AC Condenser: Remove dust and debris that have accumulated on the AC condenser (the big metal box outside your house). Doing so prevents unwanted jams during the hot summer months
Clear Your Yard for Spring/ Summer Gardening by Removing Debris, Stones, and Branches
Clean The Siding: Get rid of dirt and grime buildup that can shorten the life of your siding. Doing so also makes your siding look fresh and new!
Clean and Repair Your Outdoor Deck: Cleaning your deck of leaves and debris—especially between deck boards. This prevents staining and reduces the chance of rot. Check for loose boards, and reset protruding nails to keep your deck safe.
See the Complete March Home Maintenance Checklist HERE
March 2021 Outdoor Activates
Spring has sprung! For all of you interested in spending some time outdoors, check out these March 2021 NOVA outdoor events!
Lucky Leprechaun Virtual 5K
Mar 5 - Mar 31
Celebrate the luck of the Irish with a fun 5K race on the route of your choice
Pre-Registered Runners willreceive completion prizes and more!