This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: What are the real costs of renting?
Question: Should I list during the holidays?
Answer: At this time of year, we get many people asking if they should list their home now, or hold on until after the new year? As always, if you need to sell, list it. However, sellers are often inclined to wait until the new year. But should they? Serious buyers are still out there looking. They are still waiting for the right home to come on the market.
Question: What’s been happening with the local real estate market?
Answer: This week we look at contract activity for September and October of 2023 compared with the same time in 2022 for the City of Alexandria and South Alexandria (Fairfax County portions of Alexandria). The charts below show contract activity by price range and by property type (condos, attached homes, and detached homes) as well as the average days on the market.
Question: What’s my first step when thinking about selling the home that I’ve lived in for decades?
Answer: Selling a home can be challenging under the best of circumstances but selling a home while having to downsize can be even more daunting. Not only are you facing years of accumulated possessions with strong memories attached — for both you and for your family — but you are also trying to get your home show-ready, so that you get the best price possible. It can be difficult to know where to even start.
Question: Where can buyers find financing help in this market?
Answer: Even if you’ve previously bought a home, you’re experiencing market dynamics that haven’t been in play for decades. Here’s how to navigate the current market atmosphere.
This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: Why do I need homeowners insurance?
Question: Does staging a home really make a difference?
Answer: Selling a home can be a complex and sometimes stressful process, but one strategy that can significantly enhance your chances of success is home staging. Home staging is the art of preparing a property for sale by making it look its best. This involves decluttering, cleaning, and arranging furniture and decor in a way that highlights the home’s best features. Staging a home can have numerous benefits, both for the seller and the potential buyers.
Question: Should I still sell my home in Northern Virginia, despite expected mortgage interest rate rises?
Answer: The real estate market is constantly evolving, and one of the most significant factors that influence it is mortgage interest rates. Recently, there have been indications that these rates are expected to rise. For potential home sellers in the Northern Virginia area, this might raise concerns and create a sense of urgency. However, there are compelling reasons why you should still consider selling your home in this region. In this article, we will explore the upcoming changes in mortgage interest rates and why they should not deter you from putting your home on the market.
Question: Why do Realtors always say “It is a Great time to Buy?”
Answer: Because residential real estate is an asset class that weathers virtually every interest rate or economic cycle. Plus, it has the huge advantage of “leverage.”
Question: Should I buy now or wait until interest rates drop a bit?
Answer: You’ll want to read this article. I am going to get my crystal ball out and tell you exactly where interest rates and home prices are going in 2024. Ready? I wish.
Question: How did the real estate market finish the summer?
Answer: Every month on our website we profile the most important market indicators for Northern Virginia — contract activity, interest rates, inventory, affordability, and the direction of the market — in an easy to read and digest summary followed by supporting charts and data. In October, we will breakout data in more detail for the third quarter for the City of Alexandria and South Alexandria. In the meantime, we are presenting our latest Market-in-a-Minute summary for Northern Virginia. Read the full StatPak report here.
