The story of our market continues to remain the same. Sellers are calling the shots, and they have the profits to show for it.
Thinking of buying a home? Search the local MLS here.
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Want to see our inventory of homes? View our listings here.
It’s been a beautiful May so far in Northern Virginia, so I wanted to take a moment today to talk about the 2019 spring real estate market.
I feel a little like a broken record because I’m repeating myself, but the market continues to be extremely strong for sellers. Once again, this spring has seen homes that are being gobbled up, multiple-offer situations, appraisals and inspections thrown out the window by eager buyers, and much more. Sellers are getting top dollar super fast and they pretty much control the transaction.
This makes things really tough for buyers. So many of them have missed out on so many homes because of how many multiple-offer situations we have been seeing. Unfortunately, each home can have only one buyer. There’s a huge inventory crunch for homes that buyers are looking for.
While it might seem that any home can be listed on the market for top dollar with minimal effort, that’s not entirely realistic. I suggest putting your investment into your kitchen and bathroom that you can enjoy now and get the value out of when you decide to sell. Buyers want and expect updated homes. Your furnace from the 80s should probably be replaced.
All in all, this is a fantastic seller’s market and very competitive for buyers. If you have any questions for me or you’re looking to buy or sell a home anytime in the near future, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.