We continue to experience a strong spring market in terms of sales numbers but it doesn’t come without its’ challenges. Limited “good (read: priced right)” inventory leads to multiple offers which leads to escalating prices and in some cases, appraisal issues. It is important to keep this in mind and have the proper expectations when selling or buying a house in this environment. Expectations are important so go in with your eyes wide open and be sure to consult with me when you are moving. I can help guide you through this challenging situation.
As I mentioned, inventory of good homes is low which creates a self-fulfilling situation. I have people looking to buy a new home but the available homes for sale are not anywhere near as nice as the one they have so they have not moved or put their homes up for sale yet. I believe there are many other people in this same situation which has been one of the factors in reduced levels of homes for sale overall in Northern Virginia.
Speaking of selling and moving up or down, did you know there are 10 options available to you when are looking to become a move up buyer? If you are considering selling and buying in the area, I can discuss this with you in more detail and help you to put yourself in the most advantageous situation no matter which scenario you travel.
As we move into the dog days of summer, look for great rates, continued low inventory and increasing price points on the “good” properties and languishing listings on those not priced properly. It remains a great market and I have the time to help you if you want to discuss your situation in more detail.
It’s a good life.
Chris
