The right agent doesn’t just list your house – they help you sell smarter, faster, and with fewer surprises. With The Morton Group’s help, you’ll know what’s happening in your local market and how to price your house right. You’ll feel confident filling out complex legal documents and at the negotiation table. And that’s priceless. Let’s connect so you have that expertise on your side.
Here’s something you need to know. The housing market is getting back to a healthier, more normal place. And even though it may not sound like it, this shift is actually a good thing.
It’s what you should expect. It’s just that our expectations have been skewed by the intense seller’s market over the past few years.
But what you need to remember is: there’s still plenty of opportunity to be had if you’re thinking about selling – whether that’s next month or next year. You just need to stay up to date on what’s happening in the market, and have a strategy that matches the moment. Here's your update.
According to the latest data, the number of homes for sale is rising back toward more normal levels (see graph below):
But inventory growth is going to vary a lot based on where you live.
If you’re in a market where the number of homes for sale is back to normal, buyers may have more sway than you’d expect. That doesn’t mean buyers have all the power – it just means they have more choices, so your home has to stand out.
But if you live where inventory is still pretty limited, you may see more buyers competing for your house.
No matter where you are, the key is to work with a pro who can help you adjust your game plan for your local market.
With more homes to choose from, today’s buyers are quick to skip over homes that feel overpriced. That’s why pricing your house right is the secret to selling quickly and for top dollar. That’s a point Realtor.com really drives home:
“ . . . a seller listing a well-priced, move-in ready home should have little problem finding a buyer."
Miss the mark, though, and you may have to backtrack. Today, about 1 in 5 sellers (19.1%) are reducing their asking price to attract buyers (see map below):
Here’s how to avoid being one of those sellers who has to reduce their asking price. Danielle Hale, Chief Economist at Realtor.com, says:
“The rising share of price reductions suggests that a lot of sellers are anchored to prices that aren't realistic in today's housing market. Today's sellers would be wise to listen to feedback they are getting from the market.”
The best way to get that information? Lean on your local agent. They have the expertise to set a price that sells in any market. Because if your price isn’t compelling, it’s not selling.
Gone are the days of buyers waiving inspections and appraisals just to get a deal done. Now, because they have more homes to choose from, buyers are able to ask for things like repairs, credits, and help with closing costs. And data from Redfin shows nearly 44.4% of sellers are willing to negotiate (see graph below):
The takeaway? This isn’t a bad market. It’s just a different one. And it’s in line with more normal years in the housing market, like back in 2019. The savviest sellers are the ones taking advantage of every opportunity to work with buyers and make their house shine.
And it’ll help if you think of concessions as tools, not losses. Use them to bridge gaps, sweeten deals, and get across the finish line. And don’t stress. Since prices went up roughly 55% over the past five years, you’ve got plenty of room to make a concession or two and still come out ahead.
Just be sure to work with your agent to understand which concessions could be the key to sealing the deal.
Sellers who are going to succeed in the weeks and months ahead are the ones who understand this market shift and lean into it with the right expectations and the right strategy.
Let’s talk about what’s working in our local area right now – and how we can make those wins work for you whenever you’re ready to make a move.
Are you thinking about buying a home, but not sure if now’s the right time? A lot of people are waiting and wondering what the market’s going to do next. But here’s something only the savviest buyers realize:
This summer might actually be the best time to buy in years. Here are three big reasons why.
After several years of sellers having all the leverage, things are starting to shift. Check out the graph below. It uses data from Redfin to show that right now, there are more sellers active in the market than buyers:
Take a look at what happened back in 2021 through roughly 2023. In that time period, there were far more buyers (the blue line) looking to buy than homes for sale (the green line). That’s what drove the intense competition, bidding wars, and the exponential price growth the market saw back then.
Now, the market has shifted, and buyers are regaining their negotiating power as a result. With more sellers than buyers, sellers may be more willing to pay for repairs, cover some of your closing costs, or lower their asking price. The return of this kind of normal balance is a sign of a much healthier, more sustainable market. As Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), explains:
“ . . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”
And just in case you're worried there are too many homes on the market, here's what you should know. Overall inventory is still lower than normal, so you don’t have to worry about a nationwide oversupply or a crash.
The number of homes for sale has improved a lot. Based on the latest data from Realtor.com, more homes were listed this May than in May 2024 or May 2023 (see graph below):
And more homes for sale means more choices. There’s a good chance your perfect match just hit the market – or it will soon. So, it’s a great time to explore what’s out there. As Jake Krimmel, Economist at Realtor.com, says:
“With more fresh inventory hitting the market, buyers have better opportunities to find a home that fits their needs."
With more homes for sale, they’re not selling at the same frenzied pace they were just a few years ago.
Since homes are taking more time to sell, some sellers are choosing to lower their asking prices to draw buyers back in or speed up the process. And that's to-be-expected. According to Realtor.com, 19.1% of listings had a price cut this May (see graph below):
That’s the fifth straight month where more sellers have reduced their price. And, as of May, the volume of price cuts is back at normal levels. This is yet another sign of the return to a more balanced market.
While you shouldn’t expect a big discount, you may find sellers are a bit more flexible right now. As a recent article from The Street says:
“Although sellers have had the upper hand in the housing market over the past few years, houses are now staying on the market for longer, shifting negotiating power back to homebuyers.”
Just remember, most sellers still aren’t adjusting their prices – just the ones who overpriced to start with. So, this isn’t a sign of a crash, it’s a sign of some sellers having outdated expectations in a shifting market.
This summer brings a powerful combo for buyers: more homes to choose from, less competition, and sellers being more flexible on pricing. If you’re ready to make a move, let’s connect.
What would finding the right home this summer mean for your next chapter?
There’s a misconception going around that you have to put 20% of the purchase price down when you buy a home. But the truth is, many people don’t put down that much unless they’re trying to make their offer more competitive. And if you want to give your savings a boost, look into down payment assistance. Most first-time buyers qualify and the typical benefit is $17,000. To learn more about your loan options or down payment assistance programs, connect with a trusted lender and check out downpaymentresource.com
Meet Todd Morton, and The Morton Group
The Morton Group is a locally owned and operated real estate team led by Todd Morton, a lifelong Virginia Beach resident and award-winning Realtor. Every agent on the TMG team is brokered by AtCoastal Realty, one of Hampton Roads most respected real estate firms.
We specialize in helping buyers and seller across South Hampton Roads. with a primary focus on luxury, oceanfront and waterfront properties throughout Virginia Beach, VA.
Todd isn't just a local agent - he's a true product of the Virginia Beach community. He grew up in the neighborhoods he now sells homes in, attending Kingston and King's Grant Elementary, Lynnhaven Jr. High, and graduating with honors from First Colonial High School in 1997.
With over 10,000 active agents in Hampton Roads, being in the top 10% is no small feat. Todd and The Morton Group have earned multiple Circle of Excellence Awards from the Hampton Roads Realtors Association (HRRA) since going full-time in 2020.
We don't just sell homes - WE deliver results with integrity, precision, and a personalized touch that sets us apart in the luxury housing market.
Todd's 25+ year background in sales and marketing - with local powerhouses like WAVY TV-10, FM99, Dominion Enterprises, ant top-tier digital ad agencies - gives your property exposure that other firms simply can't replicate.
Todd was a god send to work with during the purchase. Preparing to move was a very stressful process packing, disconnecting and connecting utilities, scheduling the movers, etc. Working with Todd afforded me the opportunity to focus on these items. He informed me of every step of the process from our initial offer, counter offer, loan process and closing. He worked hard getting me the best deal possible and saved me thousands! I would recommend Todd to anyone looking to purchase real estate! Thank you Todd much appreciated! - Michael Doyle, Virginia Beach Buyer
I can’t say enough good things about Todd!! He went above and beyond to help us find a home sight unseen while we were living out of the state. Todd was super descriptive and detailed of every home he showed us via FaceTime which allowed us to really make an informed choice of our future home. 100% recommend Todd to anyone in the market for a new home! - Blakely H, Virginia Beach Buyer
Todd is the best there is. Plain and simple. I bought and sold my home with Todd leading the way and couldn't have asked for a better experience. If you are buying or selling in Hampton Roads, there is no better choice. - Colton M, Virginia Beach Seller
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Virginia Beach, Chesapeake, Suffolk, Norfolk, Portsmouth, Newport News, Hampton, Williamsburg, Charlottesville, Eastern Shore
If you're considering a move in or out of the Virginia Beach area, your first call should be to Todd Morton and The Morton Group. Whether it's a luxury oceanfront estate or a move-in ready first time family home, we bring local insight, elite service, and serious results to every deal we assist in. We treat our clients like family and view every transaction like it's one of our own.
Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk.
According to the latest data from the National Association of Realtors (NAR), the number of homeowners selling without an agent has hit an all-time low (see graph below):
And for the small number of homeowners who do decide to sell on their own, data shows they’re still not confident they’re making a good choice.
A recent survey finds three out of every four homeowners who don’t plan to use an agent have doubts about whether that’s actually the right decision.
And here’s why. The market is changing – not in a bad way, just in a way that requires a smarter, more strategic approach. And having a real estate expert in your corner really pays off.
Here are just two of the ways an agent's expertise makes a difference.
One of the biggest hurdles when selling a house on your own is figuring out the right price. It’s not as simple as picking a number that sounds good or selling your house for what your neighbor’s sold for a few years back – you need to hit the bullseye for where the market is right now. Without an agent’s help, you’re more likely to miss the mark. As Zillow explains:
“Agents are pros when it comes to pricing properties and have their finger on the pulse of your local market. They understand current buying trends and can provide insight into how your home compares to others for sale nearby.”
Basically, they know what’s really selling, what buyers are willing to pay in your area, and how to position your house to sell quickly. That kind of insight can have a big impact, especially in a market that’s balancing out.
There’s also a mountain of documentation when selling a house, including everything from disclosures to contracts. And a mistake can have big legal implications. This is another area where having an agent can help.
They’ve handled these documents countless times and know exactly what’s needed to keep everything on track, so you avoid delays. And now that buyers are including more contingencies again and asking for concessions, your agent will guide you through each form step by step, making sure it’s done right and documented correctly the first time.
Now that the number of homes for sale has grown, homes aren’t selling at quite the same pace they were. But you can still sell quickly if you have a proven plan to help your house stand out.
Just remember, homeowners don’t have the same network or marketing tools an experienced agent does. So, if you want the process to happen fast, you’ll likely want a pro by your side.
Having the right agent and the right strategy is key in a shifting market. Let’s connect so you don’t have to take this on solo – and so you can list with confidence, knowing you’ve got expert guidance from day one.
When your house doesn’t sell, it doesn’t just feel frustrating – it feels personal. You put time, money, and emotional energy into this move. You told your friends and family it was happening. And now that your listing has expired without a buyer? You’re left feeling stuck, and maybe even a little embarrassed.
And here's what most agents won’t tell you. Over 70% of homeowners who re-list with a different agent sell their house.
Re-list with the same agent? That stat drops to only 50%, according to the latest data from REDX. That’s like leaving the fate of your sale to a coin toss. And that’s not good enough.
REDX data also shows that only 1 in 3 homeowners with expired listings actually make that change. That means most sellers either give up or repeat the same mistakes, so they get the same disappointing outcome. You deserve better.
Same house. Different strategy. Completely different results.
Let's break down what might’ve gone wrong – and how a fresh perspective can help you have a winning strategy this time.
Today, homebuyers are feeling the squeeze of higher mortgage rates, so even a slightly overpriced home will get overlooked. And once your listing starts to go stale, it’s hard to regain momentum.
Missing the mark on pricing is a costly mistake – and too many homeowners are doing that very thing right now.
What we need to do now: We need to analyze the latest sales in your area to make sure you’re hitting the right number. This includes taking a hard look at real-time buyer behavior, and any feedback you got from open houses or showings your first time around. Pricing at, or even just below, current market value is a winning play because it drives more buyers to your listing – and that amps up the competition for your home.
You only get one shot at a first impression. If the listing photos didn’t pop, the house wasn’t staged well, or it wasn't updated, most buyers will skip over it without ever scheduling a showing. And even if buyers did show up, small things like scuffed walls, outdated light fixtures, or a wobbly doorknob can turn them away.
What we need to do now: Let’s walk through your house with fresh eyes to see if there are any areas that may have been sticking points inside and out. Sometimes taking down old drapery, some light staging, or even a fresh coat of paint can completely change how a buyer feels about the home.
If your home didn’t sell, chances are it wasn’t getting the visibility it deserved. Generic flyers and a few online photos aren’t enough anymore. Today’s top agents are using highly targeted digital marketing, social media strategies, custom video content, and more to get your listing in front of the right buyers at the right time.
What we need to do now: We have to do more than just put your house online and hope it sells. Together, we can come up with a real plan to maximize its exposure. With the right pricing, staging, and marketing, your house will sell quickly. Here’s a real-world example (see graph below):
4. You Weren’t Willing To NegotiateIn this market, sellers who aren’t open to negotiating on things like closing costs, inspection repairs, or other concessions are often left behind. And if your last agent didn’t set that expectation with you, that's a real shame.
What we need to do now: Be willing to meet buyers where they are. The goal is to get the deal done – and sometimes that means getting creative to help buyers cross the finish line. Home values have increased by over 55% over the last five years, so you likely have enough wiggle room to offer some perks without sacrificing your bottom line.
If your house didn’t sell and your listing has expired, you don’t need to give up. You just need a better plan. And a better partner.
Over 70% of homeowners who switch agents sell their house after re-listing it. That’s not a coincidence. That’s strategy.
If you're ready for a proven approach, let’s talk so you know what to do differently – and why doing different things actually works. It’s time to get your move back on track.
A lot of buyers are pressing pause on their plans these days, holding out hope that mortgage rates will come down – maybe even back to the historic-low 3% from a few years ago. But here’s the thing: those rates were never meant to last. They were a short-term response to a very specific moment in time. And as the market finds its footing again, it’s time to reset expectations.
Back in 2020 and 2021, 3% mortgage rates gave buyers a serious boost: more affordability, more buying power, and more opportunity. But those rates were a result of emergency economic policies during the height of a global pandemic. Now that the economy is in a different place, we’re seeing mortgage rates in the high 6% to low 7% range.
And while experts currently project a slight easing in the months ahead, most industry leaders agree: rates are not going back to 3%.
Instead, many forecasts suggest mortgage rates will settle in the mid-6% range by the end of the year, pending any major economic shifts. As Kara Ng, Senior Economist at Zillow, says:
“While Zillow expects mortgage rates to end the year near mid-6%, barring any unforeseen shocks, that path might be bumpy.”
Basically, waiting for 3% rates might mean waiting longer than you’d expect – and missing out along the way. Instead of putting off homebuying indefinitely, make a plan to get there and focus on what you can control: your budget, your credit, and working with a trusted professional who can explain exactly what’s happening in the current market – and how to navigate it.
Your local real estate agent and a trusted lender make all the difference in this process. The experts have insights into down payment assistance programs, alternative financing options, negotiation strategies, and overall – the experience you need on your side to understand creative ways that will make your plans work.
And here’s the biggest thing to keep in mind. Since rates are projected to ease slightly later this year, if that happens, it could bring some more buyers back into the market. Acting now gives you a head start, especially with more homes on the market than we’ve seen in years.
Think about it: if mortgage rates do come down, what do you think everyone else is going to do? That’s right – they’ll jump back in too.
Getting ahead of that rush could put you in a stronger position to find the right home with less competition. Realtor.com sums it up well:
“Staying out of the market in hopes of a rate drop that never comes can lead to missed opportunities . . . Rising home prices, rent increases, and inflation might outpace any future savings on interest. And if rates do fall sharply again, buyers could face an entirely different challenge: surging competition.”
Those 3% rates everyone remembers from a few years ago were the exception, not the rule.
Now that they’re settling into new territory, it’s a good time to adjust your expectations and learn more about where things are heading as this market shifts.
A local real estate agent and a trusted lender will be your best resources, always keeping you up-to-date and informed, so you can make sense of your options and build a game plan that works for you.
While headlines love to stir up doubt, here’s one stat that cuts through the noise.
For the 12th year in a row, Americans say real estate is the best long-term investment, beating out stocks, gold, and bonds.
And why is that? It's because homeownership is one of the most steady, reliable ways to grow real wealth over time.
Let's find a way for you to break into the housing market and start building your net worth today.
#Homeownership #HousingIsTheBestInvestment #KeepingCurrentMatters
You’ve probably asked yourself lately: Is it even worth trying to buy a home right now?
With high home prices and stubborn mortgage rates, renting can seem like the safer choice right now. Or maybe your only choice. That’s a very real feeling. And perhaps buying today isn’t your best move; it’s not for everyone right away. You should only buy a home when you’re ready and able to do it, and if the timing is right for you.
But here’s the thing you need to know about renting.
While it may feel like a safer bet today – and in some areas might even be less expensive month-to-month than owning – it can really cost you more over time.
In fact, a recent Bank of America survey found that 70% of aspiring homeowners worry about what long-term renting means for their future. And they’re not wrong.
Owning a home may seem way out of reach, but if you make a plan now and steadily work toward it, homeownership comes with serious long-term financial benefits.
Buying a home isn’t just about having a place to live – it’s a step toward building your future wealth.
Why? Home prices typically rise over time, which means the longer you wait, the more expensive it is to buy. And even in some markets where home prices are softening today, the overall long-term trend speaks for itself (see graph below):
And as home values rise, so does your equity when you’re a homeowner. That’s the difference between what your home is worth and what you owe. So, with every mortgage payment, that equity grows. Over time, that becomes part of your net worth.
Today, the average homeowner’s net worth is nearly 40X greater than that of a renter. That’s a shocking difference, and the dollars in the visual below don’t lie (see graph below):
And it’s one of the big reasons why Forbes says:
“While renting might seem like [the] less stressful option . . . owning a home is still a cornerstone of the American dream and a proven strategy for building long-term wealth.”
So, short-term, why does renting feel like a simpler choice? Lower monthly payments, less responsibility, no strings attached. But long-term? It can sting.
For decades, while home prices have been rising, rent has gone up too. And while rent has held rather steady more recently, history shows the overall trend is up and to the right. That makes saving for a home more complicated than ever (see graph below):
That kind of financial uncertainty has a real impact. In the same Bank of America survey, 72% of potential buyers said they worry rising rent could affect their current and long-term finances.
Because rent doesn’t build wealth. It doesn’t come back to you later. It pays your landlord’s mortgage – not yours.
So, whether you rent or own, you’re paying a mortgage. The question is: whose mortgage do you want to pay?
Think of it this way. Renting means your money is gone once you pay it. Owning means your payment builds equity – like a savings account you can live in. Sure, buying comes with responsibility. But it also comes with the kind of reward that grows over time. And that’s why you need a solid plan to get there.
As Joel Berner, Senior Economist at Realtor.com, explains:
“Households working on their budget will find it much easier to continue to rent than to go through the expenses of homeownership. However, they need to consider the equity and generational wealth they can build up by owning a home that they can’t by renting it. In the long run, buying a home may be a better investment even if the short-run costs seem prohibitive.”
Renting may feel more do-able today. But over time, it could cost you more – without helping you build anything for your future.
If homeownership feels out of reach today, you’re not alone. And the first step toward getting out of the rental trap is to set a plan. Let’s connect, set your specific goals, and explore your options – so you’re ready when the time is right.