The current local real estate market conditions for homes listed under Three Hundred Thousand Dollars is quite brisk.
Let me give you a few examples:
Lake Ridge Virginia Townhouse Goes Under Contract in 16 days!
2903 Burgundy Place, Lake Ridge Virginia 22192
This home was a joy to list and market. The seller did everything right and that afforded him a full price offer!
The home was current and updated and well maintained.
The seller made sure the lawn and street appeal looked amazing and in return buyers came in droves. 22 Showings within two weeks and multiple offers.The seller can even remain in the home after settlement until the New Year!
Potomac Club Condo built by Beazer Homes Under Contract in only 18 days!
2279 Kew Gardens Woodbridge Virginia 22191
This one was a little tricky. The sellers are buying a move-up home that is basically ready, so we needed a quick settlement.
The first offer, was submitted with no pre-approval letter! That is not a complete offer. Further investigation turned up the buyer that wanted the house, could not get a loan. NEXT. It took two more offers, but success. Offer accepted and these folks are new home bound!
River Oaks Garage Condo built by Brookfield Homes under contract in 9 days.
16755 Shingle Oak Dr Woodbridge VA 22191
The owners of this home are buying a move-up home as well. With a growing family it is time. So a quick sale is needed for a door to door move. In situations like this it is important to find a flexible buyer. The tricky part about this one is the first buyer terminated their contract 14 days into the transaction! I wish I was kidding!!
But not to worry, since this home had multiple offers and because the current market conditions in this price point are a bit tight. We were able to revive one of the previous offers! In real estate we have to roll with the punches.
"This could have been a very stressful situation, however it turned out, only to be spead bump on the way to buying their move up home."
Here is another one. Except this one took just over 100 Days to Sell. Keep reading to learn why.....
Pulte Two Car Garage Townhouse in Cherry Hill Crossing.
17061 Gibson Mill Dr, Dumfries VA 22026 Under Contract $340,500
This home took a little longer. That is because the seller listed in the summer month. ( Typically 60-90 days to sell)However once people saw the new townhouses going up at Potomac Shores with prices starting in the low $400,000.
A Savvy Buyer snapped this home up. They did not need the amenities Potomac Shores offered but were more interested in the open concept living with a two car garage.
When you home is priced right, buyers will respond and make an offer.
So what's the take away?
Well if you are looking for a home under $300,000 in the Woodbridge, Lake Ridge, Dumfries Virginia area, be prepared to run into multiple offers. Before you house hunt get pre-approved for a loan. That way when you see the home that is the one you want, you can submit an offer.
The current market conditions now until the spring market ( March - May 2018) appears to be a very favorable time to sell. The trick is you need a good REALTOR who knows how to help you sell your home and build in some flexibility for you to stay in your home until you new home is ready.
With new home builders quoting 4-6 month built times, many times it is best to consider all your options of resale homes, like new homes under 5 years of age and older resale homes.
So if you found this blog post informative, or even surprising. Give me a call and I will be happy to sit down with you and discuss your questions, listen to what you would love to have happen and help you put a plan in motion to meet your goal.
It would be my pleasure. Call 703-851-3085.
If you have a home to sell, please follow this link and tell me about your home.