Currently viewing the tag: "Long & Foster Real Estate"

Real Estate – Is It Still a Seller’s Market?

By On · Add Comment · In Columns

By Julie Byrd & Erin Kelly

Realtors, Long & Foster Real Estate, Inc.

The housing market is influenced by the state of the economy. With so many economic developments recently, you may be wondering about the impact on the housing market. To keep you informed, we looked at a few factors that are currently affecting the real estate market.

Rising Mortgage Rates

The recent increase in mortgage interest rates—currently over five percent—are the highest they’ve been in more than 14 years, and these rates are expected to continue to rise throughout the rest of 2022. We have noticed that in some instances, these increasing rates are resulting in hesitant buyers.

Persistent Seller’s Market

It’s still a seller’s market, with low inventory of homes available; however, we are starting to see a shift in the amount of days properties are on the market and the amount of offers coming in. In past months, many homes were going under contract in less than seven days, but we are now seeing homes sit on the market a little longer. We are also seeing fewer offers on available properties—1 or 2, instead of 8 to 10—as had been common. Since real estate is hyper-local though, this trend varies in different areas.

Increased Job Openings

We’re experiencing an all-time high for job openings in the United States. As the job market heats up, employers will be competing for qualified candidates, which should push wages higher.

Inflation

Inflation, however, is currently outpacing wage increases. But, as it stabilizes, higher wages should boost consumer buying power, helping minimize the affordability issues that come with higher mortgage rates and home appreciation.

The good news is that buying a home is an excellent hedge against inflation. While the amount you’re paying for food, gas, and materials has increased, locking in a 30-year fixed rate mortgage will keep your housing costs steady.

If you’re planning to sell your home while it is still a seller’s market, we would be happy to provide you with a comparative market analysis of your home’s value and guide you throughout the entire process. Alternatively, if you’re planning to buy a home, we can help you prepare, so you’ll be ready to make a winning offer. Our best wishes for a great July!

Long & Foster Real Estate Opens New Thurmont Office

By On · Add Comment · In Business News

Town of Thurmont commissioners Wayne Hooper and Marty Burnes (far left), and Wes Hamrick and Bill Buehrer (far right) are pictured with Mayor John Kinnaird and Taylor Huffman (center) during the grand opening of her Long & Foster office at 3 W. Main Street in Thurmont.

Photo by Grace Eyler

Long & Foster Real Estate is pleased to announce that it opened a new office in Thurmont on May 20, 2017. Located at 3 W. Main Street, the office is led by Taylor Huffman and will be managed by Jackie Sellers, branch manager of the Frederick office.

“Long & Foster is committed to growing our presence in Maryland, and the opening of the Thurmont office allows us to increase our footprint and better serve home buyers and sellers throughout the area,” said Cindy Ariosa, senior regional vice president of Long & Foster Real Estate. “Additionally, having a leader like Taylor, who was raised in Thurmont, provides us with a unique understanding of the local market and the needs of its residents.”

Huffman, who has been a real estate agent for six years, will be joined at the office by three additional Long & Foster agents. She is a top-producing agent, a member of the Long & Foster Gold Team, and sold more than $8 million in real estate volume in 2016. In 2012, she was named Long & Foster Rookie of the Year. Huffman is a member of the Frederick County Association of Realtors.

“I’m thrilled to be launching this new Long & Foster office and leading a team of agents who will be supported with the best training, tools, and technology available,” Huffman said. “Long & Foster is a company that puts its agents and clients first, and I saw a need to bring the services the company offers to Thurmont and the surrounding area. We’re excited and ready to put our skills to work in the local community.”

The Thurmont office is a direct result of Long & Foster’s Elite Entrepreneur Platform, which allows agents to build their own business while aligning with the No. 1 private residential real estate company in the United States.

“Opening this new office aligns with Long & Foster’s plan to expand our ability to provide unparalleled customer service to our buyers and sellers,” said Gary Scott, president of Long & Foster Real Estate. “We have no doubt that the new Thurmont office will be the go-to resource when consumers in this area of Maryland are looking to make confident, well-informed buying and selling decisions.”

Huffman grew up on a 350-acre farm in Thurmont, which helped her cultivate a hard-work ethic from a young age. She has experience in all types of real estate, especially in the sale of land and farms, and she is a member of the Maryland Agricultural Commission, helping the state connect with farmers. In her spare time, Huffman works alongside her husband, Brandon, on their family farm, Lawyer’s Winterbrook Farm. For more information, visit LongandFoster.com.