Spring market is here.

DC real estate market is HOT! 
Now this is not really news, (DC Metro home prices are up 5.9% according to Case Shiller  and are up 8.5% year over year for DC according to RBi) as DC has remained a very strong market even in the downturn nationally.  But it It is clear that many buyers who have sat on the sidelines for the last 4-5 years are now ready to buy.  Inventory is picking up a little bit, as it always does around this time of year, but we still have 30% fewer houses on the market than last year and about a 2/3 less than 5 years ago!

Fewer homes for sale + More buyers + low interest rates = Increasing prices.

Found your dream home?  Now what?
If you've found a property you love, you now need to decide how much you're willing to offer. You want to be conservative enough that you get a good deal, but you don't want to bid so low that you risk losing the house. The following are some questions that need to be answered prior to making an offer:

• How long has the house been on the market? The longer it's been on the market, the more flexible the sellers are likely to be.
• How much are people paying for similar properties in the area?
• How much can you afford?
• Are you pre-approved with a local lender for a loan? If so, you will be very attractive to sellers, and you'll have more room to negotiate.
• How badly do you want this house?
• What areas can you be flexibile about in your offer?  Closing date? Earnest money deposit? Rent back?
• Have you conisdered doing a pre-inspection so you can make an attractive and informed offer.
• Escalation clauses are back!  How high will you go and, most importantly, by what factor will your offfer increase?

We can help you choose a price based on sound market analyses, comparable sales, and years of experience in the local market. We'll use our extensive negotiation skills to make sure that you get the home that you want for the best price possible.

Contact us for immediate assistance.

Washington DC is Awesome.  Live here.