Temeka Thompson - DC Metro Realtor, Coach, Public Speaker
  • Temeka
  • Blog
  • Real Estate
    • Sell my home
    • Buy a home
    • Veterans
  • Work with Temeka
    • Business Coaching
    • Career Coaching
    • Buy Real Estate with Temeka
    • Become an Agent
  • Booking
  • Marriage Takeover
  • Women of Worth
  • Free Resources
Temeka Thompson - DC Metro Realtor, Coach, Public Speaker
Temeka
Blog
Real Estate
    Sell my home
    Buy a home
    Veterans
Work with Temeka
    Business Coaching
    Career Coaching
    Buy Real Estate with Temeka
    Become an Agent
Booking
Marriage Takeover
Women of Worth
Free Resources
  • Temeka
  • Blog
  • Real Estate
    • Sell my home
    • Buy a home
    • Veterans
  • Work with Temeka
    • Business Coaching
    • Career Coaching
    • Buy Real Estate with Temeka
    • Become an Agent
  • Booking
  • Marriage Takeover
  • Women of Worth
  • Free Resources
Buy a Home, Real Estate

The Luxury Market Is Attracting Buyers in 2021

February 11, 2021by Temeka ThompsonNo Comments

The Luxury Market Is Attracting Buyers in 2021 | MyKCM

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

“Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.com, notes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.

Temeka leaning up against the wall

Charles County MD Real Estate, PG County MD Real Estate, DC Real Estate – Temeka Thompson, REALTOR® – EXIT Landmark Realty and its Real Estate Professionals focus in the DC metro area. We list and sell in White Plains, La Plata, Waldorf, Brandywine, Fort Washington, Upper Marlboro, Bowie, Washington DC and all nearby communities.

 (202) 670-6787

Buy a Home

What Record-Low Housing Inventory Means for You

February 2, 2021by Temeka ThompsonNo Comments

What Record-Low Housing Inventory Means for You | MyKCM

The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low. The report explains:

“Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million). Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.”
(See graph below):

What Record-Low Housing Inventory Means for You | MyKCM

What Does This Mean for You?

If You’re a Buyer:

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean you’ll enter a bidding war. Calculate just how far you’re willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun, Chief Economist at NAR, notes:

“To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homes…However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand.”

If You’re a Seller:

Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate the best possible terms. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to request more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

Bottom Line

The housing market will remain strong throughout 2021. Know what that means for you, whether you’re buying, selling, or doing both.

Temeka leaning up against the wall

Charles County MD Real Estate, PG County MD Real Estate, DC Real Estate – Temeka Thompson, REALTOR® – EXIT Landmark Realty and its Real Estate Professionals focus in the DC metro area. We list and sell in White Plains, La Plata, Waldorf, Brandywine, Fort Washington, Upper Marlboro, Bowie, Washington DC and all nearby communities.

 (202) 670-6787

Search Homes

Recent Posts

  • 2021 Real Estate Myth Buster [INFOGRAPHIC]
  • Buyer & Seller Perks in Today’s Housing Market
  • Why You Should Think About Listing Prices Like an Auction’s Reserve Price
  • Should We Fear the Surge in Cash-Out Refinances?
  • What Credit Score Do You Need for a Mortgage?

Archives

  • March 2021
  • February 2021
  • December 2020
  • May 2020
  • March 2020
  • January 2020
  • December 2019
  • November 2019

Categories

  • Buy a Home
  • Coaching
  • Mortgage & Financing
  • Real Estate
  • Sell your Home

Connect with Me

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

RSS Unknown Feed

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
FOLLOW ME ON INSTAGRAM

iamtemekathompson

Thank you Coach @nicolescooper for sharing this!!! Thank you Coach @nicolescooper for sharing this!!!

This is such confirmation. In this season, there’s going to be a steady flow……. Flow of favor, flow of resources, flow of divine connections, flow of peace, flow of joy, flow of opportunities, a steady flow……
💎
💎

#flow 
#favor 
#thekingsdaughter 
#daughteroftheking 
#kingdomentrepreneur 
#wifelife 
#marriagecoach 
#mdrealtor
Praying for @d.ham3 and his family.

🙌🏾🙏🏾
.
.

#prayersup 
#damarhamlin 
#damarhamlin🙌🏿
Fellas your MENTAL HEALTH is important. Just becau Fellas your MENTAL HEALTH is important. Just because you see someone about your mental DOES NOT MEAN YOU ARE WEAK. THAT IS A BIG SIGN OF HOW STRONG YOU ARE. Fellas please stop suffering in silence. I do understand the weight of the world being on our shoulders. But we can’t truly live our lives to the fullest if we don’t take great care of ourselves. Love y’all!!!
.
.
.
.
#mentalhealth 
#mensmentalhealth 
#menshealth 
#mentalhealthmatters 
#marriagetakeover
#ripdjtwitch
It’s a choice!! You can win in your marriage and It’s a choice!! You can win in your marriage and we have a community to help you through your journey. We’re changing the marriage culture. 

If you’re married and need more support for a happy marriage, DM me.

#win 
#marriageworks 
#christianmarriage 
#marriagegoals 
#marriagetakeover
Rolling into October like…. 📣 Keep your head Rolling into October like….

📣 Keep your head up Sis
📣 Keep the FAITH Sis 🙌🏾
📣 Don’t STOP Sis ✋🏾
📣 You’re doing GREAT Sis!!

😊

#savedbygrace 
#kingdomgirl 
#godsgirl 
#faithoverfear
If trust is the foundation of a relationship and y If trust is the foundation of a relationship and you admit to yourself that although you love your spouse but you don’t trust them, then the very foundation of your relationship is missing.

If you want to start building the foundation of marriage, drop an emoji in the comments below.

#trust 
#trustissues 
#triggers 
#godlymarriage 
#marriagerocks 
#kingdommarriage 
#marriagetakeover
I think she forgot it was my office space!!! It ha I think she forgot it was my office space!!! It has become her entire play area 😂😂!! Love me some Buttercup 🐾!!!

#cavapoo 
#crockettdoodles 
#cutedogsofinstagram 
#cutedogsofig
#iamtemekathompson
I remember being younger and an uncle told me that I remember being younger and an uncle told me that I’d never amount to anything and that I’d be pregnant before graduating high school.  Never EVER believed someone else’s narrative for your life!!! God had other plans ✨!!! Remember He always gets the final say so 😘!!! Stay encouraged no matter what it looks like. God’s got you!!

#godsgirls #onassignment #faithoverfear #kingdomgirl #wifeyinspired #inspire
Don’t let ANYTHING or ANYONE take your 💡!!! K Don’t let ANYTHING or ANYONE take your 💡!!! Keep loving on YOU 😘!!
Load More

Hi, I'm Temeka. I'm a Mom, Wife, Realtor, and Coach living in the DC Metro area. Here I'll share all things real estate, coaching, marriage tips, and trends. Let's stay connected!

Search Homes

© 2020 copyright Temeka Thompson All rights reserved