Gentlemen (and ladies), start your engines: It's time to sell! As we round the corner into the third month of 2008, it's time to rev up your plans, clean up your home, contact your experienced REALTOR and get your home on the market to sell.
You've been thinking about selling your home in Northern Virginia and I know why:
- You are thinking "we are in the midst of a buyer's market"
THAT'S TRUE.
- You are disappointed that values have gone down
WE CAN'T CONTROL THAT.
- You want to wait until prices go up again
WHO KNOWS HOW LONG YOU'LL HAVE TO WAIT?
Yes, the advantage in the marketplace has most certainly shifted to the buyers. Homes in Northern Virginia are selling for an average of 8-10% below the listing price. More and more sellers are offering to pay some or all of purchaser's closing costs. Foreclosures and short sales are affecting prices and values in various neighborhoods.
Nonetheless, you may not have a choice. Sometimes you need to sell your home:
- job transfer
- military relocation
- divorce
- you're having a baby and need more room(s)
Also, if you've been hoping to move to a new neighborhood in Northern Virginia or move up from a condo to townhouse or single family home, the buying opportunities are plentiful right now.
Regardless, whatever the reason for selling your current home, NOW IS THE TIME. Real estate sales in Northern Virginia typically follow a very seasonal pattern.
Please study the chart below:
As you can see, May through August are the busiest months for real estate sales. In fact, over 41% of all sales for the year 2007 occurred during those 4 months (similar patterns are seen every year). Contrast that with September through December which accounts for less than 25% of all sales for the year.
The average time a home spends on the market in Northern Virginia is hovering right around 90 days. Thus, the window of opportunity for maximizing the chance that your home sells is now wide open. The next three months present the best time period for putting your home on the market with the assistance of your Northern Virginia REALTOR.
For more information you'll want to read:
How Many Homes Sold in 2007? How Many Will Sell in 2008? Will Yours Be One of Them?
If you are also planning to purchase a new home, the following information will simplify the process:
Let Me Search for Homes While You Drink Your Morning Coffee
So, start up those engines now, and you'll be crossing the finish line, while the rest of the competition is still making their way around the first lap.
Call me at 703-626-0715 or contact me by e-mail to get started today.
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