My name is Mike Chenault. I am the Principal Broker of Hometown Realty and Team Leader of the Mike Chenault Group at Hometown Realty. Over the next several months, my team and I will be covering different topics about the real estate market that we hope you will find helpful – whether you are searching for your first home, your dream home, or looking to downsize. For this first post, I thought I’d briefly share how I got started in the business and what I’ve learned along the way.
We’ve always said Hometown Realty is a family business, and that’s literally how it started. After witnessing my mother, Bonnie, make a difference in the community through her expertise as a real estate agent, she inspired me to follow in her footsteps. After college, my mother became a real estate broker and I got my real estate license. Fast forward 35 years and Hometown Realty has helped tens of thousands of clients purchase homes in central Virginia and beyond. Along the way, we’ve had family members and friends, who have become family, join us as real estate agents to make Hometown what it is today and to share in the growth of the business.
What have I learned along the way? There is no wrong time to buy real estate. Real Estate is one of those investments that I’ve witnessed appreciate over my 35 years in the business. Yes, there have been dips along the way but just like the stock market, the long-term appreciation of real estate is dependable. Have interest rates varied over time? Absolutely. I think what homebuyers overlook when wanting to buy a home in a higher interest rate environment is that just because you have a 30-year mortgage loan, it doesn’t prevent you from refinancing at a later date. Some buyers believe they can’t buy that particular home they’ve loved or move into that perfect community for their kids because interest rates are too high at the moment. As I write this, the long-term forecast for interest rates is lower for the future. Standing on the sidelines while you wait for the perfect circumstances to purchase a home can make it even harder to find the perfect home. Do you want to compete with additional home buyers when rates are low, which can drive up the purchase price of the house, or do you want to find the home you want now using the knowledge of an experienced real estate team on your side?
My team and I know the market – locally, regionally, short-term, and long-term, plus the expertise to assist you every step of the way to make your home-buying dreams come true in any market.
Stay tuned as we dive deeper into additional real estate topics in the months ahead. Until then, give us a call and we can start working for you right away – (804)366-5302.