Michael Corum - Elite Agents of Keller Williams Realty

I had a great time attending the 2022 REALTORS® mid-year Legislative Meetings & Trade Expo at the Ga***rd National Resort & Convention Center with one of my rockstar team members, Mayu Cesari - Elite Agents of Keller Williams McLean. It was an awesome experience networking with Realtors across the nation and listening to the experts and leaders in our field discussing the current state of the market and how we can help our clients best navigate during these times.

They even discussed how and are going to stir things up and play a huge role in the industry when buying, selling, financing, titling, and even renting real estate. We are still at the begging of this digital age and I'm so grateful to be playing role in it.

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.....Buyers love them, sellers hate them. In our current sellers market, it seems that buyers can't even compete without waiving all contingencies. And waiving everything still won't make you the winning offer. The market is bananas 🍌

The most popular contingencies in real estate are:

1. Home Inspection. With a home inspection, you have three options: a) informational purposes only (which doesn't make it a contingency) b) option to void c) option to request repairs
2. Financing. This is for the buyer to obtain and secure financing in a timely matter. As a seller, this is why an all cash offer is more appealing.
3. Appraisal. Waiving this puts the buyers on the hook for coming up with the difference in price. Not waiving this gives the buyer the option to back out of the contract or renegotiate the selling price lower.

How do you guys feel about waiving these main contingencies when submitting an offer?

Michael Corum - Elite Agents of Keller Williams Realty

I am so excited for the B family to call this house home! Our out-of-state buyer clients won in a multiple offer situation. We have been searching for their next home for a month and lost on a couple of houses that they loved. But both heartaches led to this beautiful home with TONS of space for their family of 6 to grow into. With 5 acres of land in the woods with a creek, I'm sure they will love living here!

Congrats again to the B family!!

I have my licenses in DC, MD, and Virginia so let me know how I can help you or a loved one sell or buy your next home!

Michael Corum, Realtor®
Elite Agents at Keller Williams Realty McLean/Great Falls
📍6820 Elm Street, Mclean, VA 22101
📱703-541-9818
📧 [email protected]

Michael Corum - Elite Agents of Keller Williams Realty Michael Corum is the Co-Owner & Team Leader of The Elite Agents at Keller Williams Realty Mclean/Great Falls.

🚨Tuesday Term Alert 🚨

Closing costs refer to the charges and fees that are paid when a house purchase is finalized. Both buyers and sellers pay closing costs to the service providers who help facilitate the transaction. Typically, the buyer's costs include mortgage insurance, homeowner's insurance, appraisal fees, and property taxes, while the seller covers ownership transfer fees and pays a commission to their real estate agent. In a buyers market, Buyers often negotiate with their new home's seller to cover some of their closing costs. In a seller's market, these closing costs typically fall on the buyer.

Closing costs for homebuyers total around 2% to 5% of the home's purchase price, which can add thousands of dollars to the cost of buying a home. For example, closing costs that amount to 3% of a $300,000 home would cost $9,000.

Want to know more about how much it’ll cost you to purchase or sell? Contact us today and we can put some figures together for you!

Michael Corum, Realtor
Elite Agents at Keller Williams Realty
6820 Elm Street
Mclean, VA 22101
☎️ 703-541-9818
📧 [email protected]

📣 Coming Soon in Sterling’s Newberry Condominiums 📣
📍902 Windsor Court, Sterling, VA 20164📍

🏢 2-Level Condo
🛏 3-Beds
🛁 1.5-Baths
🚗 2-Assigned Parking Spaces
📏 1,078 SqFt
💰 $324,950

Don’t miss your chance to own this updated and affordable condo styled townhome in Sterling, VA. The main level features hardwood floors, recessed lighting, built-in bluetooth sound system, updated half bath, and a kitchen with white cabinets and granite countertops. The upstairs boasts 3-bedrooms (all with fans), a full bath in the hallway, carpet, and crown molding throughout.

👇Contact me today for additional information or to schedule a showing👇

Michael Corum, Realtor®
Elite Agents at Keller Williams Realty McLean/Great Falls
📍6820 Elm Street, Mclean, VA 22101
📱703-541-9818
📧 [email protected]
💻 www.MyEliteHomeSearch.com/Mike

📣 JUST LISTED IN BRAMBLETON📣
📍22668 Ferncrest Terrace, Broadlands, VA 20148📍

🏢 2-Level Condo
🛏 3-Beds
🛁 2.5-Baths
🚗 1-Car Garage
📏 1,784 SqFt
💰 $425,000

👇This condo truly has something for everyone. You will not want to miss the opportunity to own this gem! Contact me today for additional information or to schedule a showing👇

Michael Corum, Realtor®
Elite Agents at Keller Williams Realty McLean/Great Falls
📍6820 Elm Street, Mclean, VA 22101
📱703-541-9818
📧 [email protected]
💻 www.MyEliteHomeSearch.com/Mike

🚨Tuesday Term Alert🚨

is our vocab word this week. In this crazy seller's market, a lot of buyers are opting to waive the appraisal contingency. Meaning if the appraisal comes in lower than the purchase price, buyers must be willing to pay the difference between the purchase price and the appraisal price - out of pocket. If you get an over purchase price appraisal, congratulations! You just got instant equity in your new home. Also something to note is that for a , an appraisal cannot be waived.

This is why working with a knowledgable is important. We will also conduct our own due diligence or a Comparative Market Analysis for the neighborhood and advise you of the value of the home before making an offer or putting it on the market.

Click the link in my bio or send me a message if you'd like to know more! ⬆️

🚨Tuesday Term Alert🚨

I'm starting a weekly post on real estate terms.
If you're in the market to buy, sell, or rent, my team and I are always here to help guide you through the process. But it's always good to familiarize yourself with the real estate lingo.

This week is Adjustable Rate Mortgage. Knowing what kind of mortgage works for you and your situation is super important. That's why having a great is as imperative as having a great . My team and I work with several awesome lenders that are highly vetted and we are happy to provide recommendations. Click the link in my bio or send me a message!

Are there any terms that you want to understand better? Type it in the comments below or shoot me a DM!

Coming Soon in the Residences of Brambleton

📣 Coming Soon in the Residences at Brambleton on April 14th 📣
📍22668 Ferncrest Terrace, Broadlands, VA 20148📍

🏢 2-Level Condo
🛏 3-Beds
🛁 2.5-Baths
🚗 1-Car Garage
📏 1,784 SqFt
💰 $425,000

👇This condo truly has something for everyone. You will not want to miss the opportunity to own this gem! Contact me today for additional information or to schedule a showing👇

Michael Corum, Realtor®
Elite Agents at Keller Williams Realty McLean/Great Falls
📍6820 Elm Street, Mclean, VA 22101
📱703-541-9818
📧 [email protected]

https://www.myelitehomesearch.com/22668-ferncrest-terrace/

Coming Soon in the Residences of Brambleton Stunning 2-level condo featuring 3-bedrooms, 2.5-baths, 1 attached garage and 1,784 of living space

NEW: Get Out of the City - SOUTH PARK

This is hilarious 😂

https://youtu.be/Iysw5I50Cr0

NEW: Get Out of the City - SOUTH PARK A commercial showcasing all the spacious homes and their amenities on sale in South Park. Cartman negotiates a deal for his clients with his mom. Watch the a...

Graham Holdings' subsidiary Clydes Restaurant Group to close Reston Town Center restaurant - Washington Business Journal

Another Town Center staple closing its doors!

https://www.bizjournals.com/washington/news/2022/02/09/clydes-to-shutter-in-reston-but-may-open-nearby.html?fbclid=IwAR319BIz6z8hsABa7-8WGe9CYtXtNcuZVcV5bq0w5laKFKAmmZTkHp_2pbk

Graham Holdings' subsidiary Clydes Restaurant Group to close Reston Town Center restaurant - Washington Business Journal Clyde's of Reston is closing its doors after more than three decades in operation. But could another be on the way?

Congratulations to the C family on the purchase of their stunning 4-level TH in Old Town Fairfax City! I was able to negotiate $12,000 off the asking price, even in this seller's market.

Need help buying or selling your next home? Don't hesitate to reach out for a free, no-obligation consultation to see how the Elite Agents can help you with your next move!

Michael Corum, Realtor®
Elite Agents of Keller Williams Realty
📍6820 Elm Street, Mclean, VA 22101
☎️ 703-541-9818
📧 [email protected]

We are the Washington Commanders

It's official: the Washington Football Team is now the Washington Commanders! What are your thoughts on the new name?

Below is a history of the team's names/nicknames:

Team Names:
• Boston Braves (1932)
• Boston Redskins (1933–1936)
• Washington Redskins (1937–2019)
• Washington Football Team (2020–2021)
• Washington Commanders (2022–present)

Team Nicknames:
• The Burgundy and Gold
• The 'Skins (as the Redskins)
• The Hogs (1980s offensive line)

We are the Washington Commanders The future of Washington football is here

Coming Soon in Arlington VA

📣 Coming to the market February 17th 📣
📍1631 10th Street, Arlington, VA 22204📍

🏡 Townhouse
🛏 3-Beds
🛁 2-Baths
📏 1,300+sqft
💰 $625,000

Contact me today for additional information on this fully updated townhouse in Arlington's Carrington Village Community.

Michael Corum, Realtor®
Elite Agents at Keller Williams Realty
6820 Elm Street
Mclean, VA 22101
☎️ 703-541-9818
📧 [email protected]

👇Click the link below for more photos and information👇
https://www.myelitehomesearch.com/1631-10th-street/?agent_id=49810

Coming Soon in Arlington VA Fully remodeled 3-level TH in Arlington coming to the market Feb. 21st

The FHFA and the FHA both have significantly increased its Conforming Loan Limits for 2022. For many prospective buyers, it could mean an easier path to home ownership. Scroll through to see why...
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Got any questions? Contact me today for additional info:
Michael Corum
Elite Agents at Keller Williams Realty
6820 Elm Street
Mclean, VA 22101
☎️ 703-541-9818
📧 [email protected]

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality.

But should you be worried about rising mortgage rates? What does that really mean for you?

As rates increase even modestly, they impact your monthly mortgage payment and overall affordability. If you’re looking to buy a home, rising mortgage rates should be an incentive to act sooner rather than later.

The good news is, even though rates are climbing, they’re still worth taking advantage of.

Michael Corum, Realtor®
Elite Agents of Keller Williams Realty
Phone: 703-541-9818
Email: [email protected]
Website: www.myelitehomesearch.com/Mike
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Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year's expected to be much different than the norm. Swipe to see the five reasons to list your house now rather than waiting until the spring.

Bottom Line:
If you've been debating whether or not to sell your house and are curious about market conditions in your area, connect with me and my real estate team so we can help you decide the best time to put your house on the market.

As we start 2022, both Buyers and Sellers are wondering, what's next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Scroll through to see what they say we can expect in 2022...

What Does This Mean for Buyers?
Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today's affordability is still in your favor.

What Does This Mean for Sellers?
Make no mistake -- this sellers' market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver's seat. But don't wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won't last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.

If you're thinking of buying or selling, 2022 may be your year. Let's connect to discuss your goals and the unique opportunities you have in today's housing market.

- And that's the bottom line, because Stone Cold said so!

#newyearresolution