The Spring selling season is on full swing and there is a lot of activity.
Low rates continue to drive the market and buyers are looking to
capitalize on the low rates before the opportunity is gone.
So, does that mean it's a sellers market? Well to get that answer we need
to look at the whole picture. While there are many buyers in the market
there are also a lot of sellers. That means inventories have risen and
the the homes which offer the best value are going first. Selling a home
in great condition in a fantastic location will get lots of interest and
possibly multiple offers pretty quickly. The problem might not be about
getting a buyer to agree to a selling price, it's the lender who could be
a challenge. There is still considerable pressure from lenders to keep
housing prices in check and home appraisals are becoming more critical.
Many times a buyers offer is not accepted by a lender and appraisals are
often rejected as well when underwriters review them. That means a home
needs to be sold twice. Once to a perspective buyer and then again to the
underwriters of the loan. The key is a quality comparable analysis of
other homes that have sold in the neighborhood and realistic expectation.
It's not exactly a Seller market in that a Seller is in control but it is
a good market for Seller because there are a lot of buyers anxious to buy
while the conditions are good.
Here is another story on the subject.
Contact Marilee Murphy today for all of your home buying, or selling, luxury homes or new construction needs. I am dedicated to making sure you have a smooth transition from start to finish. Use my website to search available properties in Loudoun County located, in Northern Virginia, specifically the towns of Sterling/Potomac Falls, Ashburn, Leesburg, Chantilly, and Aldie as well as properties in Fairfax County, and Prince William County areas. You can also sign up to receive free listing updates by email