This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
Inventory is starting to pick up, but it is happening very slowly. Interest rates are astonishingly low at 2.5% to 2.8%, which puts home ownership within reach of many more buyers. The single-family house and townhouse market is moving at a fast pace. The condo market is also moving quickly but is much more price sensitive, so if you’re selling a condo, you’ll really need to pay close attention to the price relative to the condition.
If you are a buyer in this market, you will need to do your homework upfront so you can act quickly when the right property comes on the market. What does that mean?
- Go ahead and choose your lender and get ALL your documentation completed so that all you need to do is give them a ratified contract.
- Have your agent review the contract and the buying process upfront. Make sure you understand the contract contingencies and the risks that come with choosing to waive them to make your offer stronger.
- If you are not inclined to waive contingencies, discuss with your agent how you can make your offer the most appealing.
Look for more inventory in the next few weeks.
Here are few of the properties that settled in the past 10 days:
1446 Yellowwood Court
4 BD/3.5 BA
List Price: $535,000
Sold Price: $545,000
11717 Karbon Hill Court
2 BD/2 BA
List Price: $310,000
Sold Price: $300,000
1719 Ivy Oak Square
3 BD/2.5 BA
List Price: $415,000
Sold Price: $420,000
For information on great Reston neighborhoods, or if you would like a free valuation of your home please feel free to contact me.