valentinosdcpulse

If you you own a home in the DC, MD or No VA and are are considering putting it on the market, I have a few things for you to think about. Don't be fooled -- today is a good time to sell your DC home! The common misbelief is that it is smart to steer clear of winter when home buyers are in hibernation. But not this year!

Consider these reasons:

You may have fewer warm bodies coming through for showings, but those who do are traditionally very serious buyers who are ready to close. On the opposite side of the spectrum, other sellers are also very serious. These are people who need to sell their homes. With fewer sellers in the market, there is less competition for buyers.

Interest rates are at near-record lows. Qualified buyers are eager to lock in these low rates.
Homes that are in good condition, priced right, and properly marketed can attract more than just one offer. With multiple offers, you can choose the one that is best for you rather than taking whatever offer you can get. 

According to housing industry consultant Steve Harney, now is the time to sell. Banks have a stockpile of foreclosed homes and are waiting for housing prices to stabilize before putting them on the market. According to Harney, the stabilization number was recently reached. He expects banks to begin putting foreclosed homes on the market during the second quarter of 2011. This means that by spring, there will be more homes for sale than are currently available now causing prices to decrease. Therefore, if you want a good price for your home, now may be the best time to sell.

Lastly, we're coming off of a good solid 3-month selling season, so the comps that appraisers and buyers are analyzing when they evaluate your home are very "seller-friendly". This gives you a leg-up going into the appraisal contingency. This is often a trivialized and overlooked point, but proven to be a key factor in the home-selling process. If the comps are lower than desirable (which can lead to a snowball effect of downward pressure on pricing), it very often leads to a "bad" appraisal (which will kill the deal). Most banks do not allow a second appraisal to be utilized.

If you are thinking about selling your DC-area home, contact Rachel Valentino of Valentino & Associates today. She can help you market and sell your home for the best possible price.