FINE NEST MAY 2022 NEWSLETTER

6/14/2022

? Summer is making itself comfortable

Summer has certainly made itself at home with outdoor daytime temperatures holding strong in the high 70's, 80's and even 90's! As the warmth settles in early, it looks like we're in it for the long haul with hot days and scattered thunderstorms in the foreseeable summer forecast. To help stay cool, check out the news on the evolving market cool down, awesome recommendations for home made popsicles & beverages you can make on Independence day, and more in the events section.

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

June Market Metrics Report

Hot Sellers Market Cool Down

The seller market cool down is definitely making its first major impression on housing. Continuing from last months market report, inventory is still trending up with homes spending a little more time on the market and prices minimally budging from their sellers market increases. Stated in a Market Watch article, market predictions suggest listings are going to continue to sell, however days on market are likely to continue to increase. The culprit? Mortgage applications are down 40% compared to last year. A not so surprising result following the increase in interest rates that are currently hovering around 5.23% for a 30-year fixed mortgage. Simply put, buyer demand still exists, but with current inflation and higher interest rates, more and more buyers are getting priced out of the market.

Where's the bright side? Here at Fine Nest we're seeing more and more VA and FHA loans winning offers, as well as contingencies such as home inspections and appraisals being brought back to the negotiation table. This is a huge win for buyers who have been waving contingencies since 2020 just to secure housing. However, for houses in the goldilocks price ranges such as starter homes or homes in high demand areas, bidding wars haven't made their exit quite yet. Nevertheless, contingencies like home inspections are helpful in balancing transactions. Buyers are held accountable on the financial end while sellers are held accountable on the quality of the home they're selling. As the scales of the market continue to rebalance, Fine Nest will be here every step of the way to make sure everyone stays in the know.

Virginia is for Sunflowers

Enjoy a day trip to one of Virginia's many sunflower fields. Blooming from June through July, you can frolic in a sunflower field as close by as Purcellville to as far south as the Virginia Beach area. If you're vacationing in Virginia or looking for a cool place to picnic, you can capture the summer magic (and some great Instagram worthy photos too) virtually anywhere in the state!

4th of July Kid Friendly and Adult Friendly Treats

Delight all your guests this Independance Day by making these 4th of July themed popsicles & beverages that can be customized for kids and for the 21 and up club!

July 4th Bomb Pop

Red, White and Blue Cheesecake Pop

Patriotic Jell-O Shots

Red, White & Blue Slushy Cocktail

Fathers Day Events in the Area

Fathers day is just around the corner and June is chock full of events and places that dads everywhere can appreciate!

Sully Antique Car Show

Chantilly, VA
June 19th
Event Details HERE

Family Day & Outdoor Aviation Display

Centreville, VA
June 18th
Event Details HERE

Autobahn Indoor Speedway

Jessup, MD
Buy Tickets HERE

Columbia Pike Blues Festival

June 18th
Arlington, VA
Event Details HERE

Great American Campout at Sky Meadows State Park

Delaplane, VA
Join the Great American Campout campaign by spending a night under the stars at Sky Meadows State Park.
Campsite details HERE

Independance Day Pet PSA

A friendly reminder for pet owners to make sure your pets are in a secure and safe environment during 4th of July fireworks. Stated in a PetAmberAlert article, animal control officials across the nation see a 30-60% increase in lost pet reports around the Independance day holiday due to the loud noises produced by our beloved fire works. To help your pet remain calm this year, follow theseASPCA holiday tips to guarantee comfort for you and your furry friends.

Lumber Prices are Declining

Despite inflation hitting everything from food to electronic goods, according Business Insider, lumber prices are 50% lower compared to the price hikes seen last year. For anyone looking to start a new construction build, now is the time to lock in your lumber prices!