Dear Friends and Neighbors –
May is full of celebration – from margaritas and mothers to veterans, there’s a holiday for everyone as we transition from April showers to May flowers. And it seems that the housing market follows the excitement, as competition continues to heat up.
Trying to spruce up your place to go on the market? Whether you’re putting up an addition or just swapping out the countertops, be sure to consult a professional! The Washington Post has some suggestions for finding an architect for renovations, and you can always trust the reliable businesses in our preferred-vendor directory.
The Gloves Are Off
You’ll have to take a good look in the mirror and say “how bad do I want it?” Your first offer could be competing against someone else’s third counteroffer; it doesn’t just have to be strong as a standalone offer, but strong comparatively. Luckily for you, realtors can do some digging and networking to help you put in a stronger offer on a dream home.
Life in the Fast Lane
The inclination is to get the buying and selling process over with as quickly as possible. For purchasing, consider a shorter timeframe for contingencies or settlement altogether. For selling, be prepared to pack up your possessions. While you may want to carpe the diem when a good offer comes along, a realtor can explain “rent-back” and “pre/post-settlement occupancy” options. No one wants to get stuck paying two mortgages, but if you close sooner than anticipated, you might find yourself temporarily living in the storage unit you’ve rented.
Makin’ it Rain
Expect to see a lot of all-cash offers. We heard a story of one client in L.A. who worked with his family to put in a cash offer well above list price; he won against 31 other offers (yes, you read that correctly). Always inspect the other terms – generally those who go all-cash also waive contingencies to boost their position further. This gives purchasers fewer chances to get out of the contract should something come up. Contracts include tricky legal language and a realtor can really help make sure the i’s are dotted and t’s are crossed so you stay protected.
It’s always important to keep things in perspective amidst what appears to be a lot of speedy and positive activity. Comparing the Metropolitan area’s market today to last year, there has actually been a decline in median sales price and percentage of inventory sold (more details here). What is selling is going quickly, but there is still an assortment of homes sitting on the market. Such is life in real estate!
Wydler Brothers Is Growing: We proudly welcome the newest members of our brokerage!
Steven & Brandy Schantz are former U.S. Army Intelligence Officers who specialize in the D.C. metro area real estate market. After giving a significant portion of their lives to the service of this nation, they decided to help people directly! They provide their clients with the same level of dedication and service that they provided to this great nation for a combined 40+ years. When selling a home with Schantz Group, they work as a partnership. They understand your tight timelines and help to relieve the stress associated with selling a home.
Hope has been a DC area Realtor since January 2001 and brings more than 27 years of sales and marketing experience to her clients. Her disciplined and informed approach to working with and educating her clients has led to wonderful, long lasting relationships. Listening to her clients’ needs, analyzing in-depth market knowledge, using technological savvy, and employing strong negotiation skills are the strengths Hope utilizes to her clients’ advantage. In turn, Hope’s clients have returned to her repeatedly and referred her to others with trust and confidence.
In The News
|D.C.’s fastest growing neighborhoods, mapped
This new map, created by ESRI, shows which parts of Washington, D.C. have grown the fastest in the last five years.
| 15 Things To Do On Memorial Day Weekend In Washington DC
Pay tribute to America’s heroes in the nation’s capital during this start-of-summer holiday.