Market Shift: Inventory Increase in Alexandria, Arlington, D.C. Prices up across the board as surrounding counties sell like hotcakes.
by Christopher Prawdzik on September 23, 2020 at 5:57 pm
Are homeowners in or near Washington, D.C. beginning a migration away from the big city in exchange for the open spaces in surrounding counties? It’s difficult to detect a definite trend at this point, but August real estate inventory could suggest a bit of a shift. It’s been an emerging trend over the past few months. Inventory of available homes for sale in August for Arlington, Alexandria City, and Washington, D.C., was up from the same month in 2019. Continue reading Market Shift: Inventory Increase in Alexandria, Arlington, D.C. <small class="subtitle">Prices up across the board as surrounding counties sell like hotcakes.</small> at DC Region Real Estate News.
Let’s Make a Deal: Tips for Sellers with Offers in Hand Don't accept anything until you read this!
by Christopher Prawdzik on September 22, 2020 at 4:16 pm
In this wild D.C. region market, many home selling scenarios often unfold in the following way: You list your home on Thursday, have an open house on Sunday, and by Monday you have multiple contracts on the home. Now all you have to do is pick the highest offer and you’re done, right? Well, not really. It’s not just a matter of choosing the “highest offer.” It’s a matter of choosing the best offer at the highest price that has the best chance to make it to settlement. Continue reading Let’s Make a Deal: Tips for Sellers with Offers in Hand <small class="subtitle">Don't accept anything until you read this!</small> at DC Region Real Estate News.
Why Your House Isn’t Selling … And what you must do to get it sold fast.
by Angela Logomasini on September 21, 2020 at 3:09 pm
In a hot seller’s market—like the one the we’re in now—the overwhelming majority of listings sell in a matter of days. Accordingly, sellers whose homes sit on the market for weeks—or even worse, months—often ask: Why isn’t my house selling? A number of factors affect how quickly a home sells, but most important is the price. There is a price for every house, in every condition, and in every location, with some very limited exceptions, such as homes in remote corners of the world where no one would go. Continue reading Why Your House Isn’t Selling … <small class="subtitle">And what you must do to get it sold fast.</small> at DC Region Real Estate News.
July Housing Inventory Surges in Alexandria and Arlington
by Christopher Prawdzik on August 20, 2020 at 3:41 pm
For the first time in months, the number of homes sold throughout the region was higher in July than the same month in 2019, according to MarketStats by ShowingTime—statistics from Bright MLS, our local multiple listing service. It’s quite a change from the early months of the year, when the shutdown from COVID-19 affected more individuals than the virus itself. Fortunately, the local home buying and selling market is resilient. We’ve seen a bit of a recovery from months such as April, May, and June, when many sellers and buyers hit the pause button waiting for the “all clear” to get back to business. Continue reading July Housing Inventory Surges in Alexandria and Arlington at DC Region Real Estate News.
Market Update: Low Inventory Stokes D.C. Area Seller’s Market
by Christopher Prawdzik on July 20, 2020 at 4:30 pm
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 over June 2019. Fairfax County and Montgomery County inventories were about 40 percent lower than a year ago. Continue reading Market Update: Low Inventory Stokes D.C. Area Seller’s Market at DC Region Real Estate News.
Home Buyers Remain Active During COVID-19, with Revised Goals
by Angela Logomasini on July 9, 2020 at 9:47 pm
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 observations about changing buyer preferences. Bright MLS reported four main trends among buyer preferences as observed by their Realtors—trends we are now seeing ourselves. Continue reading Home Buyers Remain Active During COVID-19, with Revised Goals at DC Region Real Estate News.
Home Selling Tip: Act Now to Avoid Costly Closing Delays Later
by Angela Logomasini on July 5, 2020 at 8:33 pm
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 evidence that the loan was paid off. Continue reading Home Selling Tip: Act Now to Avoid Costly Closing Delays Later at DC Region Real Estate News.