How Will Trump’s Election Affect Our Northern Virginia Market?

 

With the new administration settling in here in Washington D.C., you can expect to a few major changes to take place. 

 

How will President-elect Donald Trump affect our real estate economy in the near future?

First of all, we know that whenever there is a new administration, a shift of some kind is going to take place here in the Northern Virginia market. A new administration means new policies, and that’s where the real change takes place. 

Last week, interest rates increased to 4.03%, which is the first time since early 2015 that they’ve been above the 4% mark. Is that a reflection of the election? Possibly. They started creeping up after the day of the election.

Federal Reserve chair Janet Yellen has indicated that sometime this month, the Fed will raise interest rates. However, she’s made this same prediction many times before, and they ended up staying where they were, so as far as that goes, I’m content to wait and see what happens.

INTEREST RATES WILL EVENTUALLY RISE, AND THERE MAY BE MORE CHANGES IN STORE.

Regardless, we believe that interest rates will increase somehow, some way, as a result of a new presidency. As interest rates rise, buyers won’t be able to afford as much home. For sellers, it will reduce the price they can sell their home at.

With all the transitioning taking place, there are a lot of unknowns floating around out there. We know that there is going to be change, we just don’t know what kind of change. Nobody has a crystal ball, so if you’re in the market to buy a home, sell a home, or invest in real estate, you might as well do it now.

If you have any questions or would like to make a move in the market sometime soon, don’t hesitate to reach out to me by phone or email. I’d be happy to help! 

 

Dan Rochon

Dan Rochon is an Associate Broker in VA, Broker in MD; Operating Principal/ Owner of the Keller Williams Realty office in Alexandria - Kingstowne, VA; Owner of Rochon Investments, LLC; Owner and Co-founder of www.GreetingsVirginia.com and Owner of other Joint Ventures as well as a real estate principles instructor at Moseley Real Estate Schools. 


As a real estate sales agent, Dan and his team are consistently top producers in their marketplace and provide solutions for their clients. Through their investing company, Dan and Traci Rochon have been investing in residential and commercial real estate ventures for more than the past decade.


Dan and his wife Traci are frequent speakers and are often quoted in media stories about the current real estate market. The Rochon's have been featured on The Nightly News with Brian Williams, The Today Show, CNBC, The Washington Post, The Washington Examiner, WTOP News, Voted as The Best of DC Real Estate Agent in the Washington City Paper Readers Poll, and more...