Market Update: DC Metro Real Estate Trends

If you keep up with everything happening in real estate right now, you know that different factors in the market can change at the drop of a hat. Because it is important to know about the home market before you choose to buy, we are here to keep you up to date! Discover the latest trends in real estate in the DC Metro area, where many of Miller & Smith’s new home communities are located and now selling!

Redfin, a popular national real-estate brokerage, recently conducted a survey that provided specific insights into the current real estate trends of the DC Metro Area. Despite factors like a 25% increase in requests for home tours year over year and a continued rising consumer confidence in the housing market, the demand for homes is “relatively weak” according to Redfin, who reported a 4.3% decrease in demand year over year. The survey also reported a 17% decrease in the inventory of home year over year in the region, which Redfin says could be the cause of less demand. According to Redfin real estate agent, Dan Galloway, inventory is the lowest in the most highly sought after price range, between $380,000 and $800,000. 

Galloway continues to explain why right now is a great time to buy a home while the region is focused on other things. “Buyers should take advantage of the remainder of the summer. The political class is out campaigning, which means the pool of buyers will be smaller and there will be less competition.” This is especially true in the D.C. area where preparations for the big election are in full swing. 

So, what does this mean for you, the homebuyer? Although the inventory of homes for sale is lower than usual, Miller & Smith has both to be built homes and immediate delivery homes available in the most sought after price range in many of our new home communities. Our communities in the DC Metro area include Embrey Mill (Stafford, VA), Signal Hill Station (Prince William County, VA), Aspen North at Lake Linganore (New Market, MD), with even more coming soon to Loudoun County, VA! To explore all of our new homes for sale, visit millerandsmith.com because now is the perfect time to find your dream home with Miller & Smith.

Sources: redfin.comhomesnap.comdc.curbed.com

How to Add Bold Color Design to Your Home

Decorating your new Miller & Smith home can be a challenge, especially when you know you want to add something, like bold color, but aren’t sure how to execute it properly. These days home design is guided by awesome resources like Houzz, HGTV, Pinterest and design blogs that you can access with the click of a button. Today we are sharing our tips for adding bold color design to your home, with the help of photos from our model homes!

Take advantage of multicolored pieces: A multicolored focal point can tie an entire home together by uniting other accent pieces and adding new hues to the mix.

Photo: The Silverton at Aspen North at Lake Linganore

One color different ways: If you want to incorporate orange into your color scheme, you can choose a throw blanket with a hint of orange, you can put oranges in a bowl, and you can also decide to add an orange accent pillow. The point is that there are small ways to incorporate one or two bold colors throughout a room. 

Photo: The Union Station at Signal Hill Station

Opt for a neutral backdrop: Bold colors will need some kind of complementary neutral in order to have that “wow” effect that homeowners often look for. Something as simple as placing bold pillows on a gray couch or hanging colorful curtains from a beige wall can make a huge difference.

Photo: The Sundancer at Millville by the Sea

Make color the focal point: If you have colorful walls, colorful floors, and colorful décor, your home will be in color overload! We recommend choosing one of these areas to focus on so that the color pops against the other elements of your home.

Photo: The Beachcomber at Millville by the Sea

Bring in soft elements: To contrast bright colors, bring softer and natural looking elements into a room, like wood, stone or natural fabrics. This will tone down bright colors for a more serene feeling space.

Photo: The Calahan at Aspen North at Lake Linganore

Photo: The Calahan at Aspen North at Lake Linganore

Use patterns: The next home trend is pattern on pattern, and we have already seen it in other design categories, such as fashion. Use decorative pillows that are all different patterns or utilize wall space with a variety of abstract prints. For the ultimate statement, make sure each piece has one color in common!

Photo: The Grand Central at Signal Hill Station

Photo: The Grand Central at Signal Hill Station

Add color with unexpected pieces: Items as simple as fruit, books, or a plant can add a hint of color to any room! We love the idea of having colorful table settings in a dining room, which is a neat way to add a subtle touch of color.

Photo: The Silverton at Aspen North at Lake Linganore

Photo: The Silverton at Aspen North at Lake Linganore

Curious what the rest of these model homes look like? Get information on any of our new homes in Virginia, Maryland, and Delaware by visiting millerandsmith.com or stop by to see us at any of our communities!

Source: sunset.com

The Perfect Time To Be a Homebuyer is NOW!

You may have heard people going on and on about how great the real estate market is right now from a buyer perspective, and we have to agree with them! Years ago, new homes were very different from homes today, and with characteristics like higher mortgages and smaller spaces, there is no comparison to the options that are available in 2016. Discover why it is a great time to be a homebuyer below according to a recent article from realtor.com!

The options are unparalleled

New homes today have gotten closer and closer to being “custom” homes with options to fit the needs of any family. At Miller & Smith, we offer many different types of homes including townhomes and single-family homes, each with their own optional features and designs that help tailor your home to the way you live.

New homes have all the bells and whistles

Back in the day, things like HVAC, granite countertops, and hardwood floors were considered luxury add-ons to a new home, which tacked on additional costs. Today, many of these “luxury” features are included in all new Miller & Smith homes! 

Homes are more energy efficient

As society becomes more environmentally and fiscally responsible, we have catered to those concerns when building a home! Our new homes are all equipped with energy efficient appliances and thermostats that are Energy Star rated. Not only are our homes energy efficient, but we also take environmental responsibility very seriously, so you know that materials used to build your new home are very environmentally friendly.

The Internet makes home-buying easy

Even before you decide to come and visit one of our brand new model homes, you can learn so much about the homes, community, options, and more on our website, including photos and videos! On our YouTube channel you can watch tours, interviews, and more, and on our social media pages, you can keep up with the latest happenings from Miller & Smith.

Mortgage rates are still at record lows

According to Realtor.com, mortgage rates are among the lowest they have ever been, with the average hovering around 3.63% for a 30-year fixed mortgage rate. Money that you put into a home today goes a lot farther than it has in the past 40 years, not to mention that new homes today offer far more living space, better features, and modern home designs. 

Take it from realtor.com when they say, “it’s quite possible that there has never been a better time to be a homeowner.” Interested in taking advantage of the home buying market right now? Visit millerandsmith.com to learn more about owning a brand new home in Virginia, Maryland, or Delaware!

Sources: realtor.com