With the recent interest rate cut on September 18, homebuyers are perking up to the possibility of shifts in home prices and inventory. And experts are anticipating another rate decrease before the end of the year, which sets up a trade-off for homebuyers: rates versus competition.

Falling rates may spark more buyer demand than inventory can keep up with, meaning prices will climb once again. Home prices are rising with a projected year over year increase of 4.6% by the end of 2024.

With more buyers now searching for homes, many might also resort to offering over the asking price. And with lower rates, they can afford more house. Waived appraisals and shortened inspection timelines are likely to make a comeback.

We don’t have a crystal ball, but we believe that lower rates and rising prices translate to more inventory, which is a plus to sellers. Realtor.com forecasts that housing stock will increase by 14.5% in 2024.

Whether you’re buying or selling, now is a good time to jump in to the market. If you’re ready, please give us a call at 202-243-1635 or send us an email at team@hatfieldweir.com.

Hurricane Helene’s flooding damage in historic Marshall, NC
Photo: New York Times

Help for Hurricane Helene Victims

The National Oceanic and Atmospheric Administration reports that more than 40 trillion gallons of rain drenched the Southeast over the last week of September — enough to fill Lake Tahoe. In the last days of that week, Hurricane Helene hit the Gulf Coast of Florida and tore its way more than 600 miles up through Alabama, Georgia, South Carolina, Tennessee, and North Carolina, killing more than 230 people with hundreds still unaccounted for.

The mountains of western North Carolina bore the biggest brunt, with catastrophic flooding that caused devastating mudslides and walls of water, collapsing roads, bridges and infrastructure, washed away houses, and the demolition of small towns. Many roads are still closed as recovery efforts continue. More than 20 North Carolina public school districts face significant damage and dozens of schools remain closed as recovery begins. Surviving students and their families now face tremedous trauma and hardships.

Many businesses are closed and it is estimated that the region will lose $1.8 billion in tourism spending between now and the end of the year. Hundreds of thousands of people in multiple states are still without electricity, potable water, and internet. At this writing, damages are projected to be upwards of $45 billion, including insured and non-insured properties, the latter of which represents almost half of the total.

Red Cross, Salvation Army, Samaritan’s Purse and World Central Kitchen, along with numerous local and regional rescue and recovery organizations are on the ground now. Please consider a contribution to support their work.

And we’re identifying organizations that work on short-term shelter and long-term recovery and rebuilding for flood victims who need support going forward. Please give generously.

Hospitality House of Northwest North Carolina is organizing and providing short-term housing for displaced individuals and families across the seven county region most heavily impacted by Hurricane Helene.

North Carolina Community Foundation lists several local community foundations collaborating to support Western North Carolina and direct dollars to local organizations to working on recovery and rebuilding.

Habitat for Humanity organizes resources in areas hit by hurricanes to help families address long-term shelter and housing needs through the phases of recovery and reconstruction, long after emergency responders have moved on.

Your Next Chapter: Downsizing

Ready to start the downsizing process but overwhelmed at the thought of it?

Over the years, we’ve helped countless clients and friends think through their next steps. Whether it’s disposing of paint cans from that wild hot pink teenage bedroom makeover or organizing a home office in preparation for retirement, we would love to point you in the right direction!

Give us a call or send us an email with what you are looking for.

We can walk through your home with you if you are thinking big picture, or talk you through donating items, electronics recycling, and junk removal.

It’s never to early to start this process and we are here to help along the way. 

Our Inspiring Anne

We’re delighted to share that our own Anne Hatfield Weir is featured in The Chief Navigator as a Most Inspiring Woman to Watch in Real Estate in 2024. Read the article here. Congratulations, Anne!

It’s Apple Season

With more than 7,500 varieties of apples, Food & Wine has narrowed down the list with The Ultimate Apple Guide to 85 Varieties, From Heirlooms to Hybrids. Here you’ll find the skinny on everything from cultivation, to different uses and recipes, to how you can find these popular varieties at farms and markets.

Southern Living’s Fresh Apple Cake (pictured above) is a lovely combination of apples, cinnamon, and nuts baked into a moist and delicious sheet cake and slathered with a tangy and fluffy Cream Cheese Frosting. Find the recipe here.

THE ELLIOTT
3255 Prospect Street NW
Georgetown

The ultimate in city living featuring five elegant residences, each with a distinct floor plan, exquisite finishes, and large windows with both courtyard and city views.

Residence 4

$6,900,000

Residence 3
$6,900,000

Residence 1

$1,495,000

Heidi Hatfield 202-258-1919
Anne Hatfield Weir 202-255-2490

Craig Davitian 202-333-2225

2942 Newark Street NW
Cleveland Park
$3,495,000

Anne Hatfield Weir 202-255-2490
Craig Davitian 202-333-2225

6205 Cromwell Drive

Woodacres - Bethesda
$1,750,000

Tammy Gale 202-297-0169
Andrea Hatfield 202-487-4294

934 Westminster Street NW
Logan/Shaw
$1,4850,000

Anne Hatfield Weir 202-255-2490
Craig Davitian 202-333-2225

We’re proud to be part of
Washington Fine Properties!

Left to right: Craig Davitian, Heidi Hatfield, Anne Hatfield Weir, Andrea Hatfield, and Tammy Gale