Virginia Real Estate Market Trends
The past couple weeks have been busy and fun in the world of Real Estate. I have a few clients that are looking to buy and sell and so lots of house hunting going on (which I love). My one clients are selling a home and we are looking to buy them a home at the same time. If you are in this situation, you know it can be a bit tricky at the moment. There is not much inventory to pick from, and this is leading to an increase in prices, which can be good and bad depending on which side of the fence you are on.
Most homes are selling for over asking price and some WELL over asking price with minimal contingencies. It can be scary and intimidating for first-time home buyers. Find a great Realtor you can trust, and a solid well know lender, and you will be in good shape. I of course am happy to help!
Should I Sell My Home?
If you have been thinking about selling and know you WANT to sell, the answer eventually is YES get your home on the market! The Virginia Real Estate Market is as hot a Savannah Ga summer at the moment. There is not much housing inventory available. If you are intimidated about the process of listing your home, I’m happy to chat with you and answer any questions. You can email me (realestate@stylishpatina) or call or text me at (703) 303-3700. It can seem overwhelming, but don’t let that stop you! NOW is when you will get the most money for your home.
Should I Buy A Home?
Again ….. if you have been thinking about it, NOW is a great time to GET IN the Virginia Real Estate Market. The rates are amazing and no one knows for how long that will be. Yes the inventory is low for housing BUT if your agent is on top of the coming soon listings in the MLS and you know what you are looking for, things are popping up. I think the trick is going and looking at homes and getting a feel for exactly what is important to you and how much those home are selling for (after they have closed). If you are looking at the sold prices, you know realistically what you are going to spend. It takes a bit of driving around, checking out neighborhoods, etc. but it’s worth it and can be fun if you are in the right mindset.
Another tip is even if you don’t win the house, you could be a backup offer! You never know what might happen.
Tips For Managing This Crazy Market
- Be Patient — This is hard, but it will pay off. Make sure you/your agent is watching the market every day / night to see what is coming up new in coming soon or active.
- Educate Yourself — Your agent should educate you and help point you in the right direction based on what you are looking for in a home or an area. Just driving around on your own is really helpful.
- Be Open-Minded — Sometimes you REALLY think you don’t want something in a home or don’t like a certain area, but once you see it … things change. At least look at a few homes that are out of your “ideal” area. I think this helps fine tune what you really want.
- Be Aggressive, be Aggressive ….I say this a bit as a joke, but a bit not! The market is aggressive if you see something you really like, give a strong first offer. Your agent should help guide you through this process. It can be scary, work with a great lender, and you will be okay.
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