August's Real Estate News, Home Tips & More!
Market Trends, Maintenance Reminders, and Back-To-School Home Refresh!
August Market Update
Inventory is steadily increasing, and the number of active listings continues to grow. This upward trend has been noticeable since early February and shows no signs of slowing down. Compared to the same time last year, there are significantly more homes available on the market, which may provide potential buyers with more options and potentially drive competitive pricing.
Interestingly, there has also been a rise in the number of sellers canceling their listings. Although the overall number of cancellations remains relatively low, the recent uptick is worth noting.
These trends suggest a dynamic real estate market where both buyers and sellers need to stay informed and adaptable. As inventory grows and cancellation rates fluctuate, understanding the underlying factors can help stakeholders make more informed decisions.
Let’s connect so we can address any of your specific questions!
August Home Maintenance Checklist
Replace Air Conditioner Filter: To ensure the air in your home remains clean and flows freely, it's crucial to replace the air filter in your heating and cooling system every 1-3 months. Using a high-quality air filter that can remove mold, pollen, and other microscopic particles will yield the best results.
Clean and Maintain Bathroom Vent Fan: Operating your bathroom vent fan during and for 10-20 minutes after a shower or bath helps to eliminate excess humidity, preventing mold or mildew growth. An annual cleaning of the vent fan will ensure it continues to run quietly and efficiently.
Clean Range Hood Filter and Fan: Regular cleaning of your range hood, or the fan of an over-the-range microwave, is essential to remove accumulated grease. Use a citrus-based cleaner to thoroughly clean the range hood or microwave, including the top, sides, and underneath, to eliminate all cooking grime. Remember to wear gloves and be cautious of sharp metal edges. Remove the grease filter from the fan and clean it in hot, soapy water, or run it through the dishwasher. If you can safely reach the fan blades, turn off the power to the fan and wipe them down as well.
Dates To Remember & Celebrate
August, known for being the hottest month, isn't just about the scorching heat and sunny days. It's also marked with important dates and events that bring reasons to celebrate and remember!
August 11th, Closing Ceremony of the 2024 Summer Olympics
August 19th, 1st Day of School | Fairfax County Schools
August 22nd, 1st Day of School | Loudoun County Schools
Organize and Prep Your Home for Back to School
With the kids heading back to school, it's the perfect time to freshen up your home! Here are some fun ideas to get your space ready and organized after a whirlwind summer:
Spruce Up the Entryway: Beat back-to-school chaos by creating an organized entryway. Hang backpacks and jackets on hooks, line up bins for shoes and sports gear, and use a pegboard with shelves for water bottles, sunglasses, and keys. Every item will have its own spot, making mornings smoother.
Create a Cozy Reading Nook: Transform a corner into a vibrant reading nook. Use picture ledges to keep books accessible and off the floor, and add a colorful rug and comfy beanbag chair for a fun, relaxing space. Keep a desk nearby for crafts and homework, and your kids will have the perfect spot to learn and play.
Set Up a Snack Station: Turn your kitchen nook into an after-school snack haven. Decorate with healthy treats and stock a mini fridge (or shelf of your fridge) with kid-friendly drinks. This way, your kids will head straight to their personalized snack station after a long day at school.
Homebot Insights: Overview of the Homeowner Digest
Make the Most of Your Free Tool!
The homeowner's digest is an automated monthly email to help you better understand, leverage, and grow your home equity. Let’s take a look at where the data comes from that goes into your monthly report:
AUTOMATED HOME VALUE (AVM)
At Homebot, they’re committed to ensuring that the estimated property values (AVMs) are based on the most recent and accurate data available in the area. Their advanced algorithm utilizes a broad range of industry-leading data sources fine tuned by the foremost real estate analysts to provide the highest quality home valuation insights in the market.
MARKET TEMPERATURE + AVERAGES
A third-party data provider called Altos Research is used for this data. Altos provides active housing market data for 20,000+ local markets.
