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?
Many empty-nesters and beyond debate that question almost daily. Residents often remain in their big homes almost by default – it can be hard to imagine a move. But ask yourself: “Will I be better off if I move? Will I get more out of life if I don’t have to maintain a large house? Could I use the extra time to travel, go to the theater or become engaged in that “cause” I have always wanted to? In short, is staying put actually holding me back from enjoying the things I have always envisioned for the next stage of my life?
For many, the answer is yes. Making a change in housing can be a step toward living life to the fullest.