This morning, in the newly revamped Real Estate section of the Washington Post, there is an excellent article on home sellers who wait months – not days or weeks – to find a buyer.
The article features four different home owners in the greater Washington D.C. area.
Only one is from Northern Virginia where “days on the market” have decreased over the past year but it still presents a realistic picture of what home owners may expect when listing their home.
FACT: In the third quarter of 2010 it took about 61 days to sell a house in the Washington area compared with 87 days in 2009. But where you live also makes a huge difference. Those same third quarter statistics show that days on the market ranged from 52 in Northern Virginia to almost 62 in the District to nearly 76 in suburban Maryland.
Two things stood out for me. One – buyers are still expecting to get “fire sale” or foreclosure prices. While those conditions do exist in some cases, this area has been cited for rising home prices and rising employment rates. Buyers should understand and judge the market accordingly.
Second, I was bothered, although not surprised, at the comments about real estate agents.
Whether not telling a family what to do (painting, cleaning, pricing, etc.) to agents not respecting a “call ahead” notice for showing, the article points to the need for an agent who is an active participant in readying the house for sale, has a comprehensive marketing plan (including a strong internet presence) and is grounded in facts.
For the complete story, click here.
And when you are ready to put your house on the market, give me a call at 703.927.4554.