Question: How can my mortgage lender help my offer win a bidding contest?

Answer: Anyone who has been thinking about purchasing a home within the past year has heard over and over how competitive the marketplace is. The severe lack of residential inventory has affected all price points and all types of properties. Rising interest rates may cause some purchasers to exit the process, but the need for housing will have a greater impact on the continued supply/demand equation.


Question: Interest rates are rising! What does that mean to you as a buyer or a seller?

Answer: Mortgage interest rates have already jumped significantly in the last month or two, leaving both sellers and buyers to speculate what this could mean to them. Buyers are wondering if it’s even worth it to still try to buy a home when their buying power has diminished. Sellers are wondering whether they missed that sweet spot for listing, since many buyers may be getting discouraged, or not even qualify any longer, due to higher interest rates.


Neighborhood Spotlight is a recurring column covering both the City of Alexandria and Alexandria in Fairfax County. This monthly column is sponsored and written by the Seward Group of TTR Sotheby’s International Realty.

Located in South Alexandria, very close to Mount Vernon Estate, and under the jurisdiction of Fairfax County, the Wessynton neighborhood is a lovely and very unique community.


Historic home lovers seeking the charm of original features mixed with luxurious elements for modern living will adore this one-of-a-kind jewel on coveted Gentry Row!

Built in 1788 and beautifully restored and expanded, this gracious home exudes elegance, boasting airy 12′ ceilings, 6 working fireplaces, original heart of pine floors, deep crown molding, paneled molding and wainscoting, archways and exposed brick. The huge eat-in kitchen is finely appointed featuring a built-in sound system, bar sink with beverage cooler, a suite of Thermador appliances and multiple skylights. French doors open to a wonderful flagstone patio, and a stairway leads to the second level covered porch with a fan, Edison lights, and an irrigation system.


Question: How was the first quarter 2022 real estate market in the City of Alexandria?

Answer: Each quarter we take an in-depth look at contract activity in the City of Alexandria compared to the same quarter of the previous year. To put contract activity into context for the first quarter of 2022, we need to take a look at inventory. The lack of inventory is both consistent and persistent, and it is the reality that dominates that market.


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