Homebuyers and agents alike often misunderstand when to include a deadline in their offer. I’ll go over two scenarios that highlight how to use the power of deadlines in this market.
Welcome to the latest episode of “What’s Working Now!”
Homebuyers and real estate agents alike often misunderstand the power of deadlines. Today, I’ll go over the pros and cons of including a deadline with your offer.
Recently, one of my buyers settled on a house that was brand new to the market. The house went up for sale on a Thursday, and the agent asked for offers by next week. My buyer really wanted this house, so I said, “If you write a compelling offer that is too good to be true, we can include a deadline and make them answer us tonight
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 16% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the homes they actually purchased?
Not quite ready for market, Call Marjorie for a Sneak Peek!
3201 Garfield Street NW
Private oasis in the city, surrounded by trees. Elegant & updated 4 bedroom, 4.5 bath home, great for entertaining. Entry foyer, living room with recessed hearth and wood burning fireplace, family room with built-ins & wall of windows opens to back patio & veranda. Eat-in kitchen, large formal dining room with bay windows & library, excellent condition! Great location close to schools, restaurants, shops & between two Metros.
Not quite ready for "prime time" call Marjorie for a Sneak Preview 240-731-8079
3540 39th Street NW
Super bright 2 level, 2 bedroom, 2 full baths plus den. Two separate entrances, eat-in kitchen, living room & dining area, huge master bedroom with dressing area and lots of closet space. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from the new Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted.
Monthly condo fee: $798.00 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.
From the owner: "I have lived at McLean Gardens for 10-years now and
Not quite ready for "show-time" in the process of staging & cleaning, give Marjorie a call 240-731-8079 for a "pre-market" preview.
Updated & expanded Tudor with 5 bedrooms & 5 1/2 baths. Entry foyer & sitting room with bay windows, living room with stone fireplace, formal dining room, gourmet kitchen & breakfast area, great room with wall of windows opens to large, maintenance free deck, private garden & detached garage. Close to restaurants & shops.
Visit www.4550Klingle.com for architectural photos and color floor plan.
Spacious one bedroom at the sought after Elizabeth condo. Updated kitchen, wood floors & great closet space. Luxury high rise at Metro with reserved parking, 24-hour front desk, beauty salon/ barber shop, convenience store, exercise room, library, meeting room, newspaper service, party room, indoor pool, sauna spa.
$888.67 per month includes water, sewer, heat, electricity, trash removal, snow removal, professional managmenet, maintenance, lawn care, master insturance policy, reserve fund and all amenities.
The National Association of REALTORS® surveyed their members for their monthly Confidence Index.
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.
Homes sold in less than a month in 24 out of 50 states, and Washington D.C.
Homes typically went under contract in 27 days in May!
Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK!
The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.
The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.
Regarding Existing Home Inventory:
“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”
Interest rates have hovered around 4% for the majority of 2017, which has given many buyers relief from rising home prices and has helped with affordability. Experts predict that rates will increase by the end of 2017 and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018.
Last week’s Freddie Mac Primary Mortgage Market Survey revealed that interest rates for a 30-year fixed rate mortgage have fallen to their lowest mark this year, at 3.88%. This is great news for homebuyers looking to purchase and homeowners looking to refinance.
The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home.
Let’s take a look at a historical view of interest rates
Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”
The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.
The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8.
Alaska, coming in at 89.4, represented the lowest score on the index due in part to the recent collapse in oil prices. In contrast, Wyoming came in with the
4601 North Park Avenue #409
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