What's New This Month
Happy March! February flew by, but there is a ton of real estate news to be excited about in the coming weeks. This month is an extra lucky one with St. Patrick's Day right around the corner! Our West Virginia Bankers Title team can feel the success coming from all our real estate friends.
 
For one, the 2022 housing market is on pace to be even hotter than last year, and we’re excited to see how it all plays out! As the spring months approach, more and more people will be looking for new potential homes. We wish everyone the best of luck as we get into the hotter real estate market months.
 
We hope you enjoy the latest e-newsletter. We genuinely love what we do - helping and serving all our realtor, lender, and attorney friends who trust West Virginia Bankers Title with your transactions.
 
Have a great month!
 
Bob Drummond, Vice President/Agency Manager of West Virginia Bankers Title
The 2022 Real Estate Market is Set to be Hot
While still early in the year, Realtor.com's report shows that the real estate market is starting even more competitive than in 2021. As the Structural Building Components Associations explains, “The typical home sold in 61 days in January, which is ten days less than in January 2021 and nearly a month (29 days) faster than the typical pace of sales in January between 2017 and 2020.” The imbalance between demand and supply contributes to the rapid increase in prices. Check out Realtor.com’s report to see exactly what’s happening in the real estate market.
FHFA Heading in a Different Direction Under the Biden Administration
In its new strategic plan, the Federal Housing Finance Agency (FHFA) indicated it is heading in a different direction than under the Trump administration. Under FHFA acting Director Sandra Thompson, top priority goals are now affordability and expanding credit for those not well-served by the current mortgage market. “Improving affordable housing opportunities and supply for homebuyers and renters – particularly the underserved – is an Agency priority,” the plan reads. Read more about the FHFA’s new goals on the Housing Wire.
Good News For U.S. Banks as Economy Rebounds
U.S. Banks will enjoy more robust growth this year as the economy expands and the Federal Reserve prepares to raise interest rates for the first time in three years. The Fed will raise U.S. interest rates in March. "Banks that, for the last ten years, were not able to enjoy a steady yield curve are going to get it," said Ken Leon, research director at CFRA Research. We’re excited to see the successes that come from raised interest rates.
Innovation
Mortgage Trends
Professional Development
Market Highlights
Time to “spring clean” your marketing?
As we head into what promises to be another red hot market this spring, now is the perfect time to reevaluate and audit some of your marketing efforts. And one simple way you can spruce up your online presence is to update your headshot.
 
If your headshot is more than five years old…it's time. While it may seem trivial, a great headshot allows you to show your personality and convey your local market expertise. Consider a more casual and fun tone and look for a recognizable landmark in your area to send the message that you are very much a part of the community.