FINE NEST MAY 2022 NEWSLETTER

5/15/2022

Chilling by the Pool

Come Memorial Day most community and public pools will be open for the summer time action! This is after 2021 had many outdoor pools open with COVID restrictions or not open at all. With summer break fast approaching, many are already planning their summer vacations and weekend getaways. If you're looking for some unique ideas to try out this summer, check out the events section below.
We wish everyone a pleasant May and we'll catch you all poolside!

Fine Nest gladly provides the most up-to-date real estate information and local resources we hope are useful to you and your loved ones as we continue to navigate the real estate market.

The Latest News

May Market Metrics Report

The market is changing. What can we expect?

Since interest rates increased last month, the market is already showing signs of change. Inventory is continuing to increase, homes have begun to stay on the market a little longer with some homes even seeing price reductions. Could this be the beginning of a significant market cool down? Maybe, but there are still some important components to keep in mind.

Housing demand is still at a record high, and according to the National Association of Realtors, the US housing supply fell to the lowest observed levels in over 20 years. That has left millennials, who currently make up 43% of home buyers, working with very minimal options for finding a place to live. What a 2022 market cool down could realistically look like is detailed in this Reuters article that helps compare similar market changes from the last 30 years with today's unique combination of high demand, tight job market, low inventory and increased worker mobility. A key takeaway from this article points to 2022 being the year where buyers may begin to have buying leverage once again. Although, that doesn't come without its own hurdles. Buyers are still battling the increase in interest rates on top of navigating higher home prices and a 4-decade high inflation rate. The slightly good news is that the rise in inflation has seemingly started to plateau. According to AP News, consumer prices for the month of April grew 8.3%, which is slightly less than March's 8.5%. Despite the buyer set backs, homeowners aren't seeing offer battles like they were before. In fact, some areas are seeing increased DOM and price reductions, which is something to keep an eye on. Buyers are especially tired of being priced out and compromising on homes that don't quite fit their needs or require obvious updates. It's possible that the more buyers are priced out of the market, the more market corrections such as higher inventory and price reductions may follow.

It's important to note here that this market change is likely to draw out into 2023. The historic sellers market of 2020-2022 has been boiling for two years and it's going to take some time for things to simmer down. What is known for sure, is that the stage seems to finally be set for something new to arise.

Did you just say Lamb Mowers?

You heard it here! A unique company now offers an alternative approach to lawn mowing: Lambs! Expert grazers, lambs can now be booked to come to your home and eat away at your tall grass! Not only is this a fun sight to behold within the busy metropolitan area, but it's earth friendly, educational, and an all around peaceful experience compared to a loud lawn mower. Book Lamb Mowers today!

Master-planned Communities can help make the Suburbs more affordable?

Facing the prospect of even higher rental rates and unaffordable housing in Suburbs across the nation,this informational video by CNBC covers a solution to this problem that's growing in popularity: Master-Planned Communities. Previously used to build retirement communities, master-planned communities are beginning to be applied to suburban areas. Featuring our local Mosaic District in Falls Church as an example, CNBC covers how urban retrofitting helped give birth to mixed-use districts by combining livable space and public amenity space centered around a core of easily accessible stores and restaurants. Similar to college campuses, these types of centers increase social engagement, boost local businesses and allow the middle working class to grow/continue their lives in place. Click HERE to watch the full video.

Local happenings across NOVA and MD throughout May

May often starts the spring and summer clock for outdoor events throughout the area. See what's happening near you:

Bull Run Jurassic Encounter

Manassas, VA
May 20-30th
Enjoy getting up close with over 50 animatronic dinosaurs, digging for fossils, and learning about the daily lives of these extraordinary beings at Bull Run in Manassas!
Buy Tickets HERE

Butterfly Walk

River Farm Alexandria, VA
May 18th
Event Details HERE

MD Memorial Day Weekend Events

Multiple Locations in MD
Event List HERE

NOVA Memorial Day Weekend Events

Multiple Locations in NOVA
Event Details HERE

Extended Weekend Getaway Fun

Extended weekend or day trips are an easy and fun way to get out of the house and also save on traveling costs. Check out some of the attractions around VA, WV and MD that are great fun for the whole family.

Go Ape Zipline & Adventure Park in Springfield, VA

For ages 10+ in Springfield, VA
Enjoy up to 3 hours worth of navigating through the treetops while ziplining!
Buy Tickets HERE

Salamander Resort & Spa in Middleburg, VA

If you're looking for a family trip that has something for everyone, consider visiting the Salamander Resort and Spa to enjoy activities like archery, river floats, horse riding and more. No overnight stay is required to enjoy all they have to offer!
Details HERE

River & Trail Outfitters - MD and WV locations