Alexandria, VA

This week’s Q&A column is sponsored and written by Lisa Groover of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Lisa at 703-919-4426 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: How much work do I need to do to prepare my home for sale?

Answer: We all love our home exactly as it is…

In my case, I would have a ton of work to do before putting my house on the market. You see… I have a lime green kitchen, purple sofa, hot pink master bath and artwork everywhere you look. As happy as it makes me, my decor would distract buyers from picturing their belongings in my house.

As tough as it might seem, taking the advice of a professional about how to create a market ready home, is a key element to a successful sale. Starting at the curb and continuing throughout the house — review their suggestions for repairs, updates and modifications. Then remembering that you only have one chance for a first impression — decide what works for you.

Start with the three ‘Cs’ then stage your home to show at its best.

Clutter 

Most people are overwhelmed when they think of going through their closets, cabinets, bookshelves, attic and garage. Luckily, with the help of a team of experts, this step can be simplified and almost painless. By identifying “things” that you want to keep, donate, give to family and throw away in a systematic way, you will be surprised and relieved at how quickly your home seems larger and more organized.

Color 

Neutral is better when it comes to wall color, and paint makes a huge difference when setting the stage for photographs and visitors. One of my clients actually cried when we painted her red kitchen, dining room and master bathroom. She hated it! But… when she moved to her new home… she used the same neutral color on the walls!

Clean 

Deep cleaning is essential and sends the message that your home has been well maintained. Don’t forget your kitchen appliances, laundry room, garage and basement.

Staging 

Staging strategies vary from house to house and can range from bringing in furniture and accessories to a vacant home, to adding or subtracting from a seller’s personal possessions.

Some people do not have the ability to visualize how each room could be set up. When they start thinking about purchasing a home, they also tend to watch home makeover and real estate shows and expect a house to be move-in ready.

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The current market is hot! A low inventory is pushing prices and demand up — bringing opportunity for sellers, and competition for buyers.

What does that mean for you? Whether you’re buying or selling, HergGroup Greater Washington will work with you to ensure you come out on top of any transaction. Our experienced team has the industry knowledge and understanding to help you in today’s competitive market.

Despite the hot market, sometimes properties get reduced in price to stay competitive. Here are some that were just reduced over the past week or so:

The preceding feature was written and sponsored by HergGroup Greater Washington.

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Just Listed in Alexandria

Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates Realtors®. 

Welcome Back! 

Jen Walker here with The Jen Walker Team, a real estate group based out of Alexandria, Virginia. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $115 million in 2018.

This week in real estate, we have seen a 2.1% overall increase of newly ratified contracts in the D.C. area. Loudon County has seen the most significant increase at a 16.9% bump compared to last week. Our median price point averaged $450,000. 

Are you on the house hunt? Have you been struggling with finding the “perfect” home in your desired neighborhood? Let’s be honest, finding a home with everything we’ve ever dreamed of in the perfect location is hard. But imagine finding a house that you love and has everything you want, but it’s not in the immediate area you’re desperate to live in.

What if that house happens to appreciate over the course of the next 5 years and you end up doubling your investment? When thinking about where you want to live, always consider up-and-coming neighborhoods, especially if your home purchase is a buy-and-hold investment. You’ll love the appreciation that not only impacts your real estate portfolio but has great borrowing potential for (maybe) a new investment property in your future! 

This week, we hope to help you find that “perfect” home with one of these two just listed properties on the market! We will be hosting Open Houses for both properties this Sunday, November 10, from 2-4 p.m., so drop by and see us then! 

541 E. Nelson Avenue, Alexandria, VA 22314 

First, we have 541 E. Nelson Avenue. A spectacular 2 bedroom, 2.5 bath, light-filled beauty features two wood-burning fireplaces, hardwood floors, updated kitchen, separate dining area and large deck with private backyard! Enter into the living room with a wood-burning fireplace and walk through to the fabulous kitchen — enjoy the island or have a seat in the dining room.

The outdoor space just off this level is ideal for entertaining — enjoy evenings around a fire pit on cool, crisp evenings. The main level also features a half bath! The upper level features two bedrooms and a full, remodeled bath. The lower level is a great space to curl up and enjoy yet another fireplace! This large family room provides additional living or guest space and features a full, beautifully renovated bath.

Laundry can also be found on this level. Walk out the back door to access a separate utility and storage space. Off-street parking for 2 cars. It’s just a short walk to the Metro and all that Del Ray has to offer!

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This week’s Q&A column is sponsored and written by Jillian Keck Hogan of Jillian Keck Hogan Real Estate Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Jillian at 703-951-7655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What are your recommendations for updating our home with styles that will last?

Answer: I get this question a good bit from clients who are updating homes they are living in and also from those who have purchased investment properties. It is important to personally enjoy what you choose, but it is a great idea to keep in mind your plans for selling/renting down the line.

Your Personal Home

You either just bought a new home or are ready to refresh the space you currently call home — both are so exciting! Making updates to your kitchen and bathroom tend to always improve the value of your home. I would truly look at each space and see if little adjustments could be made versus a complete gut renovation.

In a bathroom you can change out a countertop, vanity, mirror and light fixtures and immediately see the entire space transform. Same could be said for a kitchen with new countertops, cabinet knobs, light fixtures, backsplash or faucets. After a great conversation with our friend Caroline Goree with Madigan Schuler, a Boutique Interior Design firm in Alexandria, she shared that fun wallpaper is a great way to enhance a space and can give it a personal touch.

For future changes you can reverse back to paint for a reasonable price. Caroline also suggests selecting “trend” items in areas that are easier to change out. For example, changing kitchen knobs, lighting and plumbing fixtures are typically less expensive than painting or refinishing the entire kitchen cabinetry. If this is a concern of yours, consider keeping those larger selections simple.

A geometric wallpaper adds a touch whimsy to the powder room of a historic Cameron Street home.

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Just Listed in Alexandria

Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates Realtors®. 

Jen Walker here with The Jen Walker Team, a real estate group based out of Alexandria, Virginia. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $115 million in 2018.

This week in real estate, we have seen a 4.5% overall increase of newly ratified contracts in the DC metro area. Montgomery County holds a strong lead with a 25.5% increase in the past week. Our median price point averaged $577,450, up slightly from last week. Have you been pre-approved yet? In order for you to ensure that you are financially confident in your decision of buying a house, pre-approval is dire. Knowing what you’re comfortable and able to spend on your new home is empowering. Yes, the task may seem daunting to some, but with the help of a good lender, this process can take only a couple of minutes and save you HOURS of headaches (and perhaps heartaches) down the road. You may end up surprised!

This week past week, The 23rd Annual Halloween Parade took place on Mount Vernon Avenue in Del Ray. It was a wonderful example of how our community comes together time and time again. We couldn’t have been more thrilled to be a part of something so incredible! Congratulations to all of the winners this year and a HUGE thank you to the volunteers, sponsors, and everyone who came out!

The following properties offer a snapshot of what is new on the market. Click here for more Just Listed properties in Alexandria and call The Jen Walker Team to schedule a home tour at 703-675-1566 or email [email protected].

Happy House Hunting!

In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!

Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria

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This week’s Q&A column is sponsored and written by Susan Hume of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Susan at 202-280-5735 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What should I consider when looking for an investment property to be used as a short-term rental, like an Airbnb?

Answer: With Amazon moving in down the road, the economics of short-term investment properties versus long-term rentals are looking very attractive. In addition to the influx of business travelers, Old Town is already experiencing an upswing in tourists thanks to its proximity to the area’s major attractions, and to being named the #1 best value travel destination by Money magazine.

All this makes Old Town an ideal location for a short-term rental business. For instance, an investment property in Old Town may rent for $3,000 per month, while you can generate more than double that by renting it out on Airbnb, VRBO, HomeAway or another online travel agent. While the math is enticing there’s a lot to consider in order to be successful.

Establishing a short-term rental is much more complicated than renting a property for a year or more. In identifying an investment property for a short-term rental, its location needs to offer what business travelers or tourists want. Because these guests frequently don’t have a car, they will prioritize a rental that has walking access to restaurants and shops as well as public transport options.

Homes that are not in a city center are unlikely to attract many guests. Guests also place a premium on having a patio or balcony to relax outdoors. Hosts don’t have to spend a fortune on furnishings, but they should be practical, tasteful and comfortable (especially the beds) and the home must have good wi-fi.

Guests are attracted to updated kitchens and baths, but also to Old Town’s historic charm. For this reason, Old Town’s traditional townhomes have special appeal to out-of-town visitors.

Although there’s a short-term market for all types of housing, rentals that are geared towards the business traveler, couples and small families — one or two bedrooms — are likely to rent more easily than larger homes that accommodate parties of five or more. While smaller properties will command a smaller nightly rent, you are likely to have a higher occupancy rate and earn more income to cover any mortgage and carrying costs (insurance, property taxes, maintenance).

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Just Listed in Alexandria

Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates Realtors®. 

Welcome Back!

Jen Walker here with The Jen Walker Team, a real estate group based out of Alexandria, Virginia. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $115 million in 2018.

This week in real estate, we have seen a 6.5% overall increase of newly ratified contracts in the D.C. area with Montgomery County taking the lead at 14.6%. Our median price point averaged $587,000, up slightly from last week. With so much information out there, it’s hard to know where to look to ensure you’re getting the most accurate, up-to-date information.

While third-party real estate listing sites can be convenient and packed with information, there’s no telling what is and isn’t accurate. We’ve seen our fair share of false estimates and market information leading eager homebuyers in the wrong direction. We don’t want this to happen to you.

The only way to be 100% certain of the numbers you’re seeing is to work with a qualified agent who will be able to pull all the correct information and give you a comprehensive breakdown. Also, there are SO MANY opportunities in off-market or coming-soon listings that aren’t readily available on these websites. Your agent will be able to provide you a first look into these properties that no one has seen before online. Who knows? It could end up being your new dream home!

Speaking of coming-soon listings, this classic townhome just hit the market listed at $599,000. It features 3 bedrooms and 2 bathrooms with an open floor plan, updated kitchen and a spacious living and dining room. The upper level features three bedrooms and a full bath.

The fully finished lower level boasts beautifully constructed built-ins, a full bath and a walkout that leads you to the gorgeous backyard deck, perfect for enjoying these chilly fall evenings. It’s located just minutes from “The Avenue” in Del Ray.

To see this charming townhome in person, join us this Saturday, October 26, from 2-4 p.m.

207 Burgess Avenue, Alexandria 22305 — $599,000

The following properties offer a snapshot of what is new on the market. Click here for more Just Listed properties in Alexandria and call The Jen Walker Team to schedule a home tour at 703-675-1566 or email [email protected].

Happy House Hunting!

In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!

Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria

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This week’s Q&A column is sponsored and written by Hope Peele of The Peele Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Hope at 703-244-6115 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: Some of my friends looked at just a couple of homes before buying, while others seemed to look at hundreds. How do I know that I’ve seen enough before making my decision?

Answer: Different sources can vary on the exact number, but on average a buyer tours between 10-14 homes before choosing the one that they will buy. This is an important decision, and many buyers I’ve worked with want to be sure that they have an opportunity to tour everything that is out there. There really is no perfect number.

That’s the short answer. My long answer is a bit more personal, so bear with me here.

I am recently engaged, and in the process of shopping for my wedding dress. While the market for homes in Alexandria is vastly different than that of wedding dresses, the decision-making process can be similar.

According to the advice blogs I’ve read (and believe me — I did my research), the recommended number of bridal boutiques to visit is three.

This is to ensure variety, while not overwhelming yourself with choices. Although my first appointment ended with me wearing a dress that I absolutely love, I was unsure that I’d seen everything that was out there.

Just like brides trying on dresses, most homebuyers have looked online and have some sort of idea of what they’re looking for. Once a target price has been established, you develop preferences for style, location, size, age and other things that are important to you. Some features will matter more than others and it’s crucial to talk with your trusted Realtor about what is non-negotiable, versus what you can live without.

Unlike bridal stores, there isn’t an exact number of homes that I’d recommend you visit, but most Realtors I know would advise against seeing dozens and dozens of homes. Making any big life choice is exhausting enough without factoring in driving all over town or zipping up thirty-pound dresses.

Viewing homes that don’t have the features most important to you will only make this process more convoluted. As the old saying goes “when you know, you know,” but if you continue to look for something better, the fear of missing out will always be in the back of your mind.

Of course, I am as typical a consumer as anyone. I am still going to visit one or two more dress shops, because I need to convince myself that I’ve seen what I could be missing out on. But at the end of the day, like any consumer in a social media world, I’ve done my research and I know what’s out there for me. I am confident that I can go with the first dress that I feel “at home in.” And that is how you will feel certain that you are not missing out on anything.

Sometimes you find the right house immediately and sometimes it does take several visits. However, in our busy market it’s more important than ever to have explored your priorities before exploring your options. A wedding dress can be put aside, but your perfect home will not wait around for when you’re ready, so be ready!

If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email: [email protected] or call 703-549-9292.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria

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Just Listed in Alexandria

Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates Realtors®. 

Welcome Back!

Jen Walker here with The Jen Walker Team, a real estate group based out of Alexandria, Virginia. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $115 million in 2018.

This week in real estate, we have seen a 9.9% overall increase of newly ratified contracts in the D.C. area with Loudon County taking the lead at 20.8%. Our median price point averaged $489,500. Even though the housing market is hot, it doesn’t mean you need to overpay for the home of your dreams. There are many ways to ensure you’re getting the biggest bang for your buck when buying your first, second or even forever home.

Use the knowledge of your agent to get the most value of the purchase price. Your agent should be able to help you determine if you can get the price lowered or if you should seek a different route such as non-cash incentives to ensure your purchase is optimal for you. Options such as a home warranty, a closing-credit, conveying furniture, etc. are all viable dependent upon the circumstances. Know all of your options!

This week, we’re featuring a charming home located in Seminary Heights. Listed at $849,900, this cape-cod style home features 4 bedrooms and 2.5 baths. This house has it all — main level office with built-ins, a screened-in porch off of the living room, a fully finished lower level with a bedroom, full bath, & rec room, and a large, private yard.

We will be hosting an open house so you can check out the house yourself this Sunday, October 20, from 2-4 p.m.

2016 Scroggins Road, Alexandria 22302 — $849,900

The following properties offer a snapshot of what is new on the market. Click here for more Just Listed properties in Alexandria and call The Jen Walker Team to schedule a home tour at 703-675-1566 or email [email protected].

Happy House Hunting!

In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!

Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria

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This week’s Q&A column is sponsored and written by Philip G. Matyas, Associate Broker, of The Shannon Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Philip at 703-507-8655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What’s the Skinny on Old Town’s Bus Barn?

Answer: The Bus Barn Days are numbered.

Having lived in Historic Old Town Alexandria for the past 22 years, I have seen tremendous housing developments dramatically change the local real estate markets. But few properties have evoked the curiosity of Old Town residents as much as the block-long, vacant WMATA “Bus Barn” site with its questions of how and when it will be developed.

Here’s the skinny.

Earlier this year, City Council rezoned the property, almost doubling the density of the existing townhouse zoning, and then approved a 287-unit apartment complex to be built by Trammel Crow Residential. Pre-construction may begin as early as the end of the year once the Final Site Plan and building permitting have completed the City’s administrative review.

The deteriorating site will be enlivened with four block faces of contemporary, urban-designed, LEED-certified construction, a pocket park, roof-top Open Space and Green Streets streetscapes. Units will be built using Energy Star appliances and WaterSense fixtures.

Bounded by Historic Old Town’s Pendleton, North Pitt, North Royal and Wythe Streets, the apartment complex will consist of 275 market rental units (about 18 studio, 180 one-bedroom and 75 two-bedroom) and 12 affordable-rate units for a 40-year duration (1 studio, 1 junior one-bedroom, 7 one-bedroom and 3 two-bedroom).

Buildings along Pendleton and North Pitt Streets will rise from 3 to 4 stories with up to 50-foot heights with facades that are enhanced with stoops and front entrances at street level. Buildings along Wythe and North Royal Streets buildings will rise from 4 to 6 stories with up to 70-foot heights to reflect a transition to the neighboring high-rise architecture of Annie B. Rose and Alexandria House.

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Just Listed in Alexandria

Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates Realtors®. 

Welcome Back!

Jen Walker here with The Jen Walker Team, a real estate group based out of Alexandria, Virginia. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $115 million  in 2018.

This week in real estate, we have seen a significant spike of newly ratified contracts (almost 20% higher than last week!) with $512,000 being the median price point. The weather is getting cooler, and the housing market is getting warmer. Now is a great time to ensure that those last remaining pre-approval to-dos are complete so you can get a better sense of your price range and are ready to jump if that perfect listing pops up.

If you’re thinking of purchasing a new car or taking out a new credit card right before getting pre-approved, we would recommend waiting until after closing on your new home. These things can affect your credit portfolio, which will likely cause some major changes to what the bank will approve for you. The waiting game is hard, but it will be worth it in the end!

This week, our “Just Listed” includes a sought-after Warwick Village. This 2 bedroom, 1.5 bath townhome has an open concept floor plan with over 1,600 sq. ft.! This beautiful home has all new kitchen appliances, a spacious partially-finished basement,and a private, fenced-in backyard patio. With a short walk to Mount Vernon Avenue, you can be sure to soak up everything Del Ray has to offer. You can’t beat the price either — $579,900!

We want you to have access to as many homes as possible before they go on the market.

The following properties offer a snapshot of what is new on the market. Click here for more Just Listed properties in Alexandria and call The Jen Walker Team to schedule a home tour at 703-675-1566 or email [email protected].

In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!

Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria

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This week’s Q&A column is sponsored and written by Jillian Keck Hogan of Jillian Keck Hogan Real Estate Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Jillian at 703-951-7655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: We have been reading all the headlines, but what really is the “Amazon Effect”?

Answer: The buzz of Amazon is something we have all been hearing and there is some truth to the stories being published, BUT as it relates to real estate, the effects are very situational with price point, condition and location.

We have been reading all the same publications, and we completely understand if all the news is making you a bit nervous as to when the best time will be to purchase or sell your home. Home prices have been increasing, but that is true of every year since 2010. There is a good chance you might be competing on a listing against another buyer, but that has been a possibility over the last 9 years, as well.

Here is a bit of advice from our COO, David Howell, at McEnearney Associates, Inc.: “Sell when you are ready to sell, and buy when you are ready to buy.”

The Most Competitive Markets

Now, competing as a purchaser is always a possibility in any price point. This is driven by a seller’s strategy. Some sellers can choose to market their home under the going market price in order to move a home sooner versus later. This does not mean the sellers are in distress or the property is falling apart. Sellers do this at times just to make their move easier and faster.

The Amazon Effect — in this case, the comparatively low number of homes on the market — has been the most notable in Alexandria and Arlington in price points under $900,000.

What Does That Mean?

Virginia selling tactics and competition have been progressively picking up, following the trend we see with the D.C. market having grown hotter and hotter over the last 5-7 years with increased new construction. With many agents in our area being licensed in D.C. and Virginia, the strategies to win out on a competing situation used in Virginia began to mimic what D.C. licensed agents had been doing for years: Escalating in price, waiving inspections (or completing them before the offer was submitted), and taking on more risk during the appraisal contingencies.

Sellers have a bit more control in negotiations and receiving multiple bids on their home over list price. As a buyer, this could mean that you write a few more offers, but do know that this does not mean you have to “overpay” for a home.

Overall

The Amazon Effect is nothing that our DMV has not seen before. If you are looking to purchase under the $900,000 price point, be assured that it is very possible to buy a great home at a great price when going in with a strong strategic offer. And sellers in this same price point, be sure to still give your home all the best finishing touches to show well and review your neighborhood comparable sales before selecting your final price.

No, home prices have not doubled — but you are in a very fortunate position to be getting some of the highest prices ever in your neighborhood and you can receive offers with less contingencies which otherwise could have cost you more money.

If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email: [email protected] or call 703-549-9292.

McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria

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