We’ve been fortunate to have a very healthy real estate market in the metro Washington D.C. area for several years, and as we head into the fall market, that’s still the case.
Last month, we looked at some of the hottest areas in the region, with absorptions rates over 60% – what we call an extreme seller’s market. This month, we’re looking at the other end of the spectrum, where there is plenty of available inventory but less contract activity – those areas and price ranges where the absorption rate is 15% or lower, a buyer’s market.
Generally, that characterizes the market for homes priced more than $1M – to be sure, there are some luxury markets that are hotter than others, but we’re focusing today on homes priced less than $1M because that’s the heart of the market.
We’ve gathered all the reports with predictions and analyses about the location of Amazon’s HQ2, which is slated to bring 50,000 white collar jobs and $5B in investments. Where do you think the giant will land?
You’re looking to sell your home and move on to the next place. You hear it’s a seller’s market, given the low inventory. What can you do to ensure it sells quickly? It’s actually quite simple: How a property looks, where it’s located and it’s price will determine its salability. A property must meet all three criteria to sell; if one of the three is off, it will not sell. That’s it.
Before you spend thousands or tens of thousands of dollars on “fixing” a wet basement, be sure you are not inviting water in! Follow these surprisingly easy steps to keep water from your roof and grounds from entering your house.
Most of our Home Inspectors say 95% of wet basement issues are fixable outdoors for just a few hundred dollars. They say there are 3 easy steps:
We know all real estate is local, and market conditions vary widely from community to community. We have taken a comprehensive look at the dynamics throughout the metro area (Alexandria; Arlington County & Falls Church City; Northern Virginia; Loudoun, Fauquier & Prince William counties; Washington, D.C.; and Suburban Maryland) for the first half of 2018 with a level of detail you won’t find anywhere else.
The Washington metro area has a strong real estate market characterized by remarkably low inventory, so we’re a little puzzled by the frequency of “off market” listings – those listings that are not put in the multiple listing system (MLS). One may hear them referred to as private exclusives or pocket listings, but under either banner these are homes that are not exposed to the broadest possible market.
In a market where buyers are clamoring for choices, why would a seller intentionally choose to do that?