As home prices remain steady or a little higher over last year at this time, inventory is still drastically down throughout the D.C. real estate region, bolstering a now longstanding seller’s market. Different parts of the region appear to be competing for the lowest inventory, with Prince William County getting the top prize for June, as inventory was down about 60 percent … [Read more...] about Market Update: Low Inventory Stokes D.C. Area Seller’s Market
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Home Buyers Remain Active During COVID-19, with Revised Goals
In the wake of the COVID-19 crisis, home buyers have not given up on the dream of home ownership, but many have modified their parameters, according to a survey conducted by our regional muliple listing service (MLS). Bright MLS polled 95,000 real estate professionals in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia to glean their … [Read more...] about Home Buyers Remain Active During COVID-19, with Revised Goals
Home Selling Tip: Act Now to Avoid Costly Closing Delays Later Get your paperwork in order before going on the market.
Imagine you’ve spent months getting your home ready to sell and finally it’s a few days before closing and the title company calls saying you can’t convey your home because you don’t have a clear title. Apparently, a bank you paid off 15 years ago when you refinanced your mortgage never removed the lien, and that bank was sold 10 years ago. Now the bank that purchased it has no … [Read more...] about Home Selling Tip: Act Now to Avoid Costly Closing Delays Later Get your paperwork in order before going on the market.
Insider Insight: Pre-inspection Repairs Key to Smooth Sale
So, you're ready sell and have spruced up your home before going on the market, which hopefully will generate lots of offers and a high price! Your home might look great, but sellers also benefit when they address some of the more mundane home repair items before they go on the market. After all, one of the biggest hurdles for sellers is getting past the home inspection … [Read more...] about Insider Insight: Pre-inspection Repairs Key to Smooth Sale
Limited Inventory Still Boosting D.C. Area Home Prices Check out these 10 things home sellers should do before their home's photo session.
If you’re thinking about selling and want to enter an atmosphere of high demand, now is as good a time as any throughout the region. Throughout the entire Mid-Atlantic region, there were 22,169 fewer properties on the market last month than in May 2019. This 33 percent drop in properties on the market is reflected, for the most part throughout the D.C. region. Prices are also … [Read more...] about Limited Inventory Still Boosting D.C. Area Home Prices Check out these 10 things home sellers should do before their home's photo session.
5 Ways to Make a Winning Offer in a Seller’s Market
If you’re thinking of making an offer on a home and are trying to predict market trends to position yourself to get the best deal, it’s a tough business. Swimming in uncharted waters as we have recently, it’s still a question mark as to where the market is headed. Still, homes locally are flying off the proverbial shelves. A quick look at homes that closed in Arlington … [Read more...] about 5 Ways to Make a Winning Offer in a Seller’s Market
Bathroom Remodel for Under $2,000? Yes You Can!
Ugly bathrooms with old, outdated tile, dirty grout, and old fixtures can become a roadblock to selling a home quickly and for a great price. So many people “invest” in a bathroom upgrade with the hope of recouping the costs when they sell the home. Yet if you are not careful, that "investment" may cost more than it pays. But it's possible to make money on a bathroom rehab … [Read more...] about Bathroom Remodel for Under $2,000? Yes You Can!
Who Represents You in a Real Estate Transaction?
Earlier this year, the Consumer Federation of America published a report stating that home buyers rarely fully understand disclosures related to who Realtors® represent in real estate transactions. In all three area jurisdictions, agents must provide buyers and sellers with paperwork that includes agency disclosure, but sometimes people don't read them. This report underscores … [Read more...] about Who Represents You in a Real Estate Transaction?
How Has COVID-19 Affected D.C. Region Real Estate?
Home sales data from April across the D.C. region indicate a tightening of a market with low inventory, while home prices continue to rise over last year. Data from BrightMLS, the area’s local multiple listing service, shows a substantial drop in the number of units sold in April compared to April 2019 for most jurisdictions, possibly indicative of a wait-and-see attitude among … [Read more...] about How Has COVID-19 Affected D.C. Region Real Estate?
Hollin Hills Working to Enhance its Historic Pedigree
If you’ve ever cruised neighborhoods a few miles south of Old Town Alexandria between Richmond Highway and the George Washington Parkway, odds are you’ve ventured into the area’s mid-century time warp. You can’t miss the distinctive shapes and feel of the neighborhood envisioned by architect Charles Goodman. With the first home built in 1949, the 326-acre Hollin Hills … [Read more...] about Hollin Hills Working to Enhance its Historic Pedigree