Spring in Real Estate

Good Morning Northern Virginia!!
I know that it's bleak and foggy and 42 degrees but I can assure you that Spring is here in Real Estate!
For those of you who don't follow the Real Estate buzz-words, let me explain. In my 8 years in Real Estate I've noticed some generally expected trends. These trends tend to occur within the same general time-frame every year.

One of these trends that gets a lot of hype is the "Spring Market". Which can be loosely defined as; "the time that buyers stop hunkering down for the holidays and start shopping for homes again". Most years we see a Real Estate Spring between mid February to Mid-March. This year our "Spring" started a few weeks ago and is in full swing now!

Just as an example, my last post was about 4 open houses we hostessed this past Sunday. Of those four homes, one was under contract by Sunday (went on the market Friday). Two others we are expecting offers on within this week. Also two of the Realtors I work with are writing (or have written and submitted) offers on other homes in the area.

What does this mean for you? Well, if you're a Buyer...it means you absolutely MUST have your lender letter with you before you start looking at homes. This is generally a best practice anyway, but it is an absolute necessity in "Spring". It also means you won't always have days to decide if you really want to write a contract like you would have a month ago.

If you're a Seller, this means it's a great time to put your home on the market. But be mindful of your comparables and don't price yourself above the market. This is a great time to take advantage of our FREE 1 hour Real Estate Business Planning appointments. No obligation. No hard sell. Just an honest assessment and valuable information. Email us if you'd like to schedule an appointment.