Doug Veit ⁽⁷⁰⁾

Recent changes at the Department of Housing and Urban Development (HUD) have sparked a lively debate among home buyers and industry watchers alike. The agency has embarked on a restructuring mission that includes significant workforce reductions aimed at modernizing its operations. Alongside the staff cuts, HUD has implemented what some…

There was a time when buying a fixer-upper was seen as a savvy move—a way to get into the market at a lower price and build equity through renovations. But according to new research from Zillow, that era might be coming to an end. Home buyers today are putting a…

Buying a home is a big milestone, but it also comes with some new financial responsibilities—especially when tax season rolls around. The good news? Home ownership can unlock tax breaks that could save you thousands each year. From deductions on mortgage interest to credits for energy-efficient upgrades, understanding the tax…

After months of stubbornly high mortgage rates, buyers finally got a little relief. The average 30-year fixed-rate mortgage dropped to 6.87% this past week, its lowest point so far in 2025. It’s not a huge drop from last week’s 6.89%, but for anyone waiting on better rates, even a small…

When you're in the market for a new home, especially in a cit, you might stumble upon a term that gives you pause: "leasehold property." In simple terms, a leasehold property means you own the building or unit, but not the land it sits on. Instead, you lease the land…

This is very real! Buying a home is an exciting milestone, but lurking in the background is real estate wire fraud. Hackers target home buyers by breaking into email accounts of real estate agents, lenders, or title companies. They monitor transactions and at the perfect moment, send fraudulent emails posing…

If you're buying or renting a home in Virginia, a new law is changing how real estate agents and property managers work. Starting in 2025, agents must now have a signed agreement with buyers and tenants before showing them any property (buy or lease). This rule isn’t new for buyer’s…

Not every home seller needs a full-service real estate agent. Some just need help with certain tasks, like listing their home online, taking photos, or handling paperwork. That’s where the Independent Contractor Listing Agreement comes in. This special agreement allows sellers to hire a real estate professional for specific services…

The residential housing market in the New River Valley is showing signs of a slowdown in sales activity, but home prices continue to rise. New listings fell by 4.3% year-over-year, meaning fewer homes are coming onto the market. Despite this, pending sales saw a modest increase of 1.6%, indicating that…

State Farm is making headlines again, and this time, it’s for a double-digit rate hike request in California. The insurer claims the increase is necessary to keep up with mounting wildfire-related claims, but consumer advocates aren’t buying it. So, what’s really going on here? In the wake of the recent…

Big changes are rolling through the housing market, and—surprise, surprise—it’s got a lot to do with politics. Trump’s latest moves are shaking things up, and whether you’re trying to buy, sell, or just figure out why home prices never seem to go down, these changes could affect you. First up,…

For years, people expected that as homeowners got older, they’d start selling their homes, either to downsize or move somewhere more convenient. That hasn’t really happened the way experts thought it would. Instead, a lot of homeowners are staying put, keeping their homes off the market and making it even…

Right out of the gate, President Trump wasted no time making changes to housing policy. Within hours of taking office, he signed executive orders aimed at cutting housing costs, rolling back regulations, and reshaping federal agencies tied to real estate and mortgages. Whether you’re a home buyer, seller, or investor,…

The housing market in the New River Valley remained relatively stable in the fourth quarter of 2024, with a slight decline in sales activity but continued price growth. The regional economy showed resilience, with unemployment ticking up slightly and mortgage rates rising past seven percent. Inventory levels expanded, giving buyers…

If you've ever walked into an old home and thought, "Wow, they don’t build them like they used to," you’re absolutely right. While home prices keep climbing, the quality of construction isn’t keeping up. In fact, many newly built homes are designed for speed and profit rather than long-term durability.

he rental market isn’t what it used to be. Rising property prices, fluctuating mortgage rates, and shifting regulations mean investors need to be more strategic than ever. With the right approach, rental properties can still be a solid source of income, but staying ahead requires flexibility and planning. Financing is…

Good news for the housing market—new home sales are on the rise. December marked the second straight month of growth, with sales up 6.7% compared to last year. At the same time, home prices have come down from their peak, making it a little easier for buyers to get in…

Even though mortgage applications slowed at the start of the year, buyers aren’t backing down. In fact, home tours and buyer activity have increased compared to last month and even last year. While some people expected the market to cool off, the reality is that many buyers are still out…

Virginia’s housing market in 2024 was marked by a slight uptick from the slowdown in 2023. Home sales activity increased modestly despite high mortgage rates. The additional sales were mostly driven by rising inventory. As we head into 2025, let us look at what could be on the horizon in…

The U.S. housing market is expected to experience a slowdown in price growth over the next five years, driven by rising mortgage rates, increased housing supply, and affordability challenges. While home prices are likely to continue increasing, the rapid appreciation seen in recent years is expected to cool down. This…

A growing number of Americans are rooting for the housing market to take a nosedive, frustrated by soaring home prices and crushing mortgage rates. A LendingTree survey found that 36% of people actually want the market to crash, while 38% believe it could happen in 2025. The reason? Home ownership…

The housing market in the NRV is shifting, with some noticeable changes compared to last year. While fewer homes actually closed in November 2024, there’s still plenty of interest from buyers, as seen in the increase in pending sales. This means that people are still looking to buy, but for…

It seems that a record number of Americans are ditching the dream of home ownership, at least for now. According to a recent Fannie Mae survey, 80% of Americans believe it’s a bad time to buy a home, the highest level of pessimism recorded. As a result, many are actively…

Mortgage rates are on the rise again, making home buying more expensive for many Americans. After briefly dipping in mid-September, rates have climbed for three straight weeks, with the average 30-year fixed mortgage now sitting at 6.54 percent and the 15-year fixed at 5.71 percent. While many hoped that recent…

Home prices are expected to rise as refinancing activity surges due to recent Federal Reserve rate cuts. Mortgage rates have dropped to their lowest levels in two years, leading to a significant increase in refinancing applications. Many homeowners are jumping at the chance to secure lower monthly payments, which could…

The housing market has been riding high for years, but some experts believe a major correction could be on the horizon. Historically, all bubbles pop, and housing may not be an exception. If the market takes a sharp downturn, home prices could drop by as much as 50 percent, leading…

Alright, let’s talk about something that’s been bugging me—the way home prices are about to get seriously weird. Thanks to a new settlement involving the National Association of Realtors (NAR), the whole system of real estate commissions is getting a shake-up, and it’s exposing a little secret: home prices weren’t…

So, you know how real estate commissions have always been kind of… mysterious? Like, you’d buy a house, and somehow, the seller was magically covering your agent’s fee? Well, that’s about to change, and it’s going to shake things up in ways a lot of people haven’t fully processed yet.

The Biden administration’s proposed rent cap plan is facing strong opposition from housing industry groups, who argue it could do more harm than good. The plan aims to limit rent increases in federally backed housing as a way to address affordability concerns, but critics say it may discourage investment in…

The Virginia housing market is showing resilience in 2024, with home sales slightly ahead of last year despite higher mortgage rates. In June alone, more than 10,000 homes were sold across the state. Although this was a drop compared to the previous month, overall sales for the first half of…