Despite a strong year-end performance by the stock market and a post-election jump in confidence among consumers and businesses, limited information on the new Administration’s potential economic policies led to a conservative 2017 growth projection of 2.0 percent, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s January 2017 Economic and Housing Outlook.
Improved consumer spending in the third quarter drove a slight upward revision from the prior forecast; moreover, a friendly labor market and rising household wealth should continue to support consumers. Business fixed investment is expected to pick up – particularly in the equipment space – as the drag from declining oil prices faded and should add to 2017 growth. Additionally, government spending and inventory investment are expected to add to growth this year, while the dollar should continue to weigh heavily on net exports. Mortgage rates are predicted to rise gradually in the coming year, ultimately reaching a fourth quarter average of 4.3 percent. There is risk that rates could rise faster and higher than forecasted, but the impact on housing could be offset by strengthened income growth.
“Policy changes under the new Administration – in its nature, sequencing, and magnitude – will determine the direction of economic growth in 2017,” says Fannie Mae Chief Economist Doug Duncan. “Incoming data suggest improving consumer spending, diminished labor market slack, and advancements in wages, but until we can more clearly read the political tea leaves, it’s difficult to say whether this late-cycle expansion will continue into its eighth year.”
We specialize in helping people negotiate better home prices! if you would like a better price, give us a call at (757)466-1009 or check out our site at www.searchcoastalvahomes.com!
Multi-talented, multi-faceted, and creative are all words that accurately describe Traci K. Georges. She is licensed Virginia REALTOR® and agent at EXIT Realty Central in the beautiful city of Norfolk, VA.
A native of the Hampton Roads area and a resident of Chesapeake for most of her life, Traci is an enthusiastic member and leader in her local area. As a strong voice in her community, she helps to lead many of the creative, administrative, and organizational aspects of community service projects along with demonstrating her true heart for empowering people in every area of their lives. She also enjoys singing, and motivational speaking.
She initiated her higher education at Oral Roberts University majoring in Music Education. She received her Bachelor’s of Science in Entrepreneurial Studies from Norfolk State University and later furthered her career in business administration and sales.
Traci’s real estate goal is to show clients the best that Hampton Roads has to offer. When choosing Traci as your agent, you will have access to her full service firm, honesty, expertise, integrity and professionalism.
Traci is passionate about the needs and goals of her clients and she desires to bring peace of mind to buyers and sellers wanting to obtain a piece of the American dream – home ownership.
When you think about your dream home, are you seeing the house, or the neighborhood it’s in?
It’s easy to get caught up in bedroom and bathroom counts when you’re shopping for a new home, but the biggest choice you’re going to make in the process is of course the ‘where’ question. So how do you find the home that’s going to be the perfect fit for your whole lifestyle?
Here are three of my favorite tips to see if an area or a particular area is right for you:
Check out the basic stats.
What is the median sale price of homes in a given neighborhood? How do the local and nearby schools perform? What amenities are nearby? How popular is the neighborhood in today’s market?
See what the neighbors are doing.
Get a sense of local activities, and see if it looks like a place with frequent block-parties or if people may keep more to themselves.
Learn the traffic patterns.
Knowing that you’re close to the highway or a public transportation center is one thing. You should find out if there are frequent jams at key commuting times, or if a nearby farmers’ market limits road access during weekends. You may also want to consider how much parking is available, both for yourself and for when you want to entertain.
Give us call anytime you’d like to discuss which neighborhoods you’re considering. We’d love to talk about local real estate issues and market conditions you should consider as you’re building your home buying plan.
Regina Thomas’s extensive knowledge and experience in real estate provides her a unique view of the real estate market and market trends that she is able to share with her clients to help them make the best decision for their individual needs. Regina has been investing in real estate for over 27 years.
Based in Norfolk, Regina is the expert to help you with all your home buying and selling needs in Norfolk, Virginia Beach, Chesapeake, Portsmouth, Suffolk, Hampton, Newport News and Williamsburg. Specializing in first time home buyers, the military, short sales, and foreclosures, Regina has the expertise necessary to assist her clients as they realize their real state goals.
Regina takes great pride in finding buyers the right home for them in the quickest time possible and with easy financing, often with low down payments.
Regina uses the latest internet technologies to market and find homes expertly to achieve outstanding results.
Regina believes that education is paramount to success and has completed intensive training covering a variety of topics from marketing listings for quick sale to negotiating contracts and helping sellers in danger of foreclosure.
Regina attended Norfolk State University, Tidewater Community College and furthered her education at Phoenix Online. Her work ethic didn’t start in the real estate industry, but followed her from her past career; she was awarded top sales person in the region during her time at Verizon Yellow Pages while in sales and marketing.
Regina is a member in good standing of the Virginia Association of REALTORS® (VAR), National Association of REALTORS® (NAR), and Hampton Roads REALTORS® Association (HRRA) in addition to the REIN Multiple Listings Service (MLS). Regina believes REALTORS® should be involved in the communities where they work and Regina has served her community in many capacities. She and EXIT Realty Central also support Habitat for Humanity having donated $2.25 million to the charity building 15 plus Habitat Homes.
Regina understands the stresses involved in the buying, selling, and relocation process and strives to alleviate these concerns for her clients.
Regina enjoys fishing, outdoor concerts and long walks on the beach.
Regina prides herself on accountability, attention to detail, and personal service allowing her to build lifelong relationships with her clients. For Regina, it’s not about helping you purchase one home, it’s about helping you purchase a lifetime of homes.
Regina is ready to assist you with all your buying and selling needs on the Southside and Peninsula. Call, text or email Regina today!
1 a : a right, claim, or interest existing or valid in
equity b : the money value of a property or of
an interest in a property in excess of claims
or liens against it c : a risk interest or ownership
right in property
Equity is the part of your property that you actually own. If you own property that’s worth $250,000, and you have a mortgage with a remaining loan balance of $100,000, your equity in the property is $150,000. Repeat home buyers usually rely to some extent on the equity in their current home to help buy their next home. The more equity you have, the larger the possible down payment for the trade- up home.
Home equity also equals security, especially at the beginning of a mortgage loan, so little of your payment goes to principal that equity builds slowly.
Naturally, building home equity comes at a price, usually in the form of larger payments. If building home equity means incurring debt to make ends meet, then you’ve defeated the purpose of building equity in the first place.
One way is to make additional principal payments. Additional principal payments make sense when you save more on your mortgage interest expense on an after-tax basis than you would earn on your investments on an after-tax basis.
If you are able to deduct your mortgage interest from your income taxes and your marginal federal income tax rate is 27 percent or higher, then your after-tax cost of mortgage debt is between 3 and 4 percent. For instance, if you earn 4 percent pretax on a five-year CD, and you’re in the 27-percent bracket for federal income taxes, the after-tax return is less than 3 percent.
Before you start making additional principal payments, use one of the many amortization calculators you can find on the internet to do the math – how much interest you would save if you made additional principal payments and how much it would shorten your loan and increase your home equity.
The other way to build home equity faster is to refinance. Recently, the reason most people have refinanced is to lock in a lower interest rate and/or lower their monthly payment. But you can also refinance to shorten the term of your mortgage, which builds equity.
If you had a $200,000 30-year ARM at 8.13 percent and replaced it with a 15-year fixed rate loan at 6.75 percent, your monthly payment would go from $1485.69 to $1769.82.
Most sellers use part of their equity to pay selling costs, such as brokerage commissions and transfer taxes. Also, if you are delinquent on your property taxes, or have other liens secured against the property, such as an IRS tax lien, these would have to be paid at closing.
Janette Woodruff has over 17 years of marketing, sales and real estate experience. Passionate about real estate and an investor herself, she can advise her clients on property management, repairs, renovations and more. As a former top producing mortgage banker, she understands the lender’s perspective. Janette is a longtime resident of Norfolk, she focuses her efforts on helping neighbors in the areas of Suburban acres and Norview of Norfolk along with Virginia Beach, Chesapeake.
Janette graduated top of her class from Old Dominion University. Her degree in Business Management taught her a wide range of valuable tools including marketing, finance and the science of managing complex processes and projects, like that found in real estate. Additionally, her second focus, Data Analytics, equips her with the advanced skills to analyze past market data, recognize trends and anticipate future market changes. These academic skill sets allow her to effectively determine a home’s optimum price, one of the most complex challenges of real estate.
Ms. Woodruff is a member of the National Association of REALTORS (NAR), Hampton Roads Association of REALTORS (HRRA), Suburban Acres and Norview Civic Leagues of Norfolk as well as Tidewater Real Estate Investors Group (TRIG). In her spare time, she enjoys riding her road bicycle, home staging, flipping houses and organic gardening. She is an avid animal lover and eagerly contributes to the Norfolk Society for the Prevention of Cruelty to Animals (SPCA). Further, she regularly supports Habitat for Humanity as does her company, EXIT Realty Central.
Here are some of what people have said about Janette
“I knew Janette personally for many years, but it wasn’t until I worked with her that I realized what a truly smart and intelligent person she really is. Even when I was burning up her phone with questions and concerns, she was always there with a reassuring answer. She is very knowledgeable in what she does and I am glad she was always there for me. I would highly recommend Janette to anyone looking to buy a home.” Susan R.
“I was a first time homebuyer and thanks to Janette, I am now I homeowner. This achievement was not an easy endeavor. It was fraught with trials, rejoicing, pitfalls and victories… However, through the delays, heartaches and heartbreaks, Janette suffered along with me. … She was encouraging and positive. … Her professionalism continued even when the seller did not want to cooperate. … When other companies turned their backs on me, Janette welcomed me and stood by me to the very end. … It is because of her dedication I have an inheritance for my daughter. GOD BLESS JANETTE!” –Melissa P.T.
“I would like to express my sincere appreciation to Janette for her commitment to excellence. … The dedication and attention to detail and family oriented friendly professionalism she possesses is comparable to none. Because of her consistent communication efforts, our professional relationship has blossomed. … She has given me the opportunity to save thousands in interest and financial hardship, this has saved my financial future. … I am thankful for her gracious and persistent efforts in managing my [real estate] portfolio throughout the years!” Suzanne S.
“Janette always puts ours needs first, and always remembered that she was working for us. … She was timely, knowledgeable, courteous, and diligent in her tasks to please us and get the job done to our satisfaction. She has a vast network of friends and associates to help her find a solution when a unique situation should arise. Her knowledge expands past the real estate industry, on may occasions. … She often finds a way around unfavorable conditions for her clients. We do not hesitate to recommend her.” Larry and Peggy R.
“I did not think I could buy with my financial past. But, after meeting with Janette and having her explain the process and a lot of the terms, I learned differently. … The whole process from first contact to closing has taken less than 4 weeks! WOW! It has been a whirlwind and one of the most wonderfully exciting and humbling experiences that I have had. I am so thankful to have met and worked with Janette – her knowledge and expertise of the real estate industry, her expedience and thoughtfulness are to be commended. I am appreciative of the fact that she has helped my family to recognize the dream of home ownership.” – Alesia K.
According to Stefan Swanepoel, real estate industry trend-watcher, the Swanepoel Power 200 “is not a popularity contest. It is not based only on a single criterion such as head count, office count or revenue. And it is never ‘pay to play’.”
The website goes on to state, “Leaders are evaluated based on their personal influence, tenure, office, decision-making power, the financial resources at their disposal, their company or organization’s industry significance and geographic reach, and public announcements about pending changes.”
Have you noticed yet? Bad leadership creates a bad atmosphere. We are super proud of our leadership here at EXIT Realty Central. We are extremely fond of our franchise leadership, and regional leadership! And our International leaders are always approachable and take time to make you feel welcome. This lends to our perception as EXIT as a family. We definitely feel like we are part of a bigger something. If you would like to see for yourself, call Ronda Morrison at 757-466-1009.
I have been serving my Community in the Real Estate Industry since 2006. Born and raised in Virginia Beach, I am knowledgeable in all the Hampton Roads cities. In 2009 I was the direct assistant to my Broker, Kimberly Plourde, assisting her with listing foreclosure properties for Bank of America, Fannie Mae, Chase, Wells Fargo & more.
I was in this role until July 2013 when I went on my own and began to work with Investors to buy & flip and buy & hold. These experiences have provided me with the tools & knowledge to continue my career in assisting 1st time home Buyers, move up Buyers, Investors, & Sellers with their real estate needs. I am passionate about real estate & can’t wait to get started helping you!
One of EXIT Realty’s true differentiators is our unparalleled support at all levels: Region, Franchise, Associate and Administration.
Offering abundant tools and resources is important but teaching agents how to use them to get, keep and grow their business is what really matters – EXITRealty excels at both. EXIT‘s Resource Center offers training modules available on demand and includes a comprehensive tracking system in “My Reports” where associates can view their own production and that of the people they’ve sponsored.
EXIT provides many tools and resources to assist with brokerage administration. Training modules are available in the Resource Center 24/7, and webinar training with a support rep is available on EXIT‘s proprietary production software, MEMO. Once administration training is complete, unlimited ongoing support is available. EXIT‘s Resource Center contains many useful and customizable documents including an Administration e-Manual, helpful and mandatory forms, job descriptions, and much more to assist in the effective and efficient running of a brokerage.
EXIT Realty’s experienced, professional support team is dedicated to helping associates and offices understand the various programs and resources EXIT has available. A support representative can be reached Monday to Friday, 10 hours a day, by phone, email or via live, online chat.
Feel like your brokerage dropped the ball on support? We love that! Come see how our company is geared from the ground up to support our agents! Call 757-466-1009 for Ronda and schedule a confidential meeting!
Quality new construction with 4 bedroom 3 full bathroom with modern open floor plan. Features to include granite countertops, laminate wood flooring, stainless steel appliances, 42 inch cabinets and custom crown molding throughout. First floor bedroom with full bathroom and vaulted ceiling. Large laundry room with storage space, nice deck with lots of yard space. Picture is of similar home. Close to shipyard, old towne, N.O.B, Naval hospital, and tunnels.