Selling Your Home in Washington DC’s 2012 Spring Market!
Spring 2012 is looking to be a banner year for real estate sales in the DC Metro area. The key word this season is LOW – as in low interest rates and low inventory.
The great news for home sellers is that real estate buyers are back in droves. Many who were waiting for the real estate market to hit bottom are realizing that the bottom has passed and in most neighborhoods prices have already started their climb upwards.
In addition, after many months of lots of houses for sale and few buyers, inventory of homes in many DC neighborhoods is extremely low. There are just not that many houses on the market, and even less renovated/updated properties. So, when a really nice move-in ready home that is priced well comes on the market in many DC area neighborhoods, it sells very quickly. Some neighborhoods are even seeing multiple offers on the homes located there.
The extremely low mortgage interest rates are also influencing this spike in buyer demand. Low interest rates mean that homes are more affordable for buyers. Current rates for 30 year fixed mortgages are just under 4%, and 15 year mortgages are an astounding 3%. These rates won’t last forever, and buyers are realizing that they had better take advantage of these bargains while they are still available.
But not all homes are flying off the shelves – some are languishing. Don’t let your home be one of them. If you are considering putting your home on the market there are several key things you can do to sell your home quickly and for close to your asking price or more:
1) Price your home at or slightly below the market. Price is still the most important variable to getting your home sold. Buyers are eager to purchase, but over priced homes are still sitting on the market. And a home priced slightly below market may garner multiple offers and an even higher sales price!
2) Make sure your home shows well. Cleaning, de-cluttering, and staging will go a long way with today’s buyers who are picky, and want homes in move-in condition.
4) Make it easy for agent’s to show your home. When I see properties with 24-hour notice requirements or no weekend showings, I think the seller does not really want to sell their home. Be as flexible as possible. Put a lockbox on the property. Let agents show the house unencumbered while you’re at work. Leave the house for long stretches of time on the weekends to that your home gets the maximum exposure. When buyer agents call to schedule an appointment to show your home, let them come. Don’t act as an impediment to the sale of your home.
Doing these 3 key things will go a long way towards getting your home sold quickly and for top dollar. Take my word for it!!
I love living, working and playing in the Washington DC area and will be a true advocate for you before, during, and after your home purchase. Whether you are looking at a home, rowhouse or luxury condo anywhere in the DC real estate area, you can be sure your needs will be met and your requirements for a home taken as my top priority. It really pays to have someone who knows the area.
Not only do I represent buyers and sellers of DC Property, but I also represent MD Real Estate and Virginia Real Estate as well. I am your exclusive Long and Foster Real Estate Professional. Click here to learn more about me.