SPRING MARKET!! What's the vibe?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Moco is on the upswing but yes still quite slow especially outside the beltway. NIH and biotech took a big hit

No, it is not on the upswing. The market has cooled in moco.

In my "undesirable" under 700k MoCo neighborhood sfhs are selling fast when they come on the market.

[Anonymous]

For a mere 2.3m you can get a balcony overlooking 66.

https://redf.in/cWtzOJ

[Anonymous]

My neighborhood in Alexandria City has seen more buyer competition for SFH lately.

Listed for $1.225
Sold for $1.320
https://redf.in/QeaIxB

Listed for $1.299
Sold for $1.357
https://redf.in/KN18uH

The market isn’t on fire, but it’s certainly warmer than last spring when most houses around here were selling for around or a bit under asking and sometimes taking 2, 3, 4 weeks to go under contract. The ones above went under contract a few days after listing.

[Anonymous]

Anonymous wrote:My neighborhood in Alexandria City has seen more buyer competition for SFH lately.

Listed for $1.225
Sold for $1.320
https://redf.in/QeaIxB

Listed for $1.299
Sold for $1.357
https://redf.in/KN18uH

The market isn’t on fire, but it’s certainly warmer than last spring when most houses around here were selling for around or a bit under asking and sometimes taking 2, 3, 4 weeks to go under contract. The ones above went under contract a few days after listing.

This is right in line with what I'm seeing in inside-the-beltway FFX -- about 100k over asking, and under k in less than a week.

[Anonymous]

I would never ever waive inspection. Never waived in the past and will never waive in the future. And I've bought 11 homes in the last 30 years in HCOL areas. FSBOs are my specialty.

[Anonymous]

Coming soon - listed - multiple offers and open house cancelled - pending in two days. Repeat ad infinitum. Upper middle class suburb with good schools of mid-size city.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Moco is on the upswing but yes still quite slow especially outside the beltway. NIH and biotech took a big hit

No, it is not on the upswing. The market has cooled in moco.

In my "undesirable" under 700k MoCo neighborhood sfhs are selling fast when they come on the market.

Which neighborhood?

[Anonymous]

Friend's house in Sterling, listed at $1.2M, sold on first day on market, open house cancelled

[Anonymous]

I'm in western Fairfax County and everything is selling within 5 days of coming on the market. I don't think any of these houses have had open houses.

[Anonymous]

Anonymous wrote:I would never ever waive inspection. Never waived in the past and will never waive in the future. And I've bought 11 homes in the last 30 years in HCOL areas. FSBOs are my specialty.

That's a lot of moving. Sorry for your children.

When we bought our house, we had an inspection but said that we wouldn't ask for the owner to fix anything (we did have the option to walk though if there was something major found). I think that eased her fears about this costing her more money. The prev owner of our home maintained it well, but was moving into a more expensive home, so she didn't want to spend any money on this one.

[Anonymous]

Anonymous wrote:I'm in western Fairfax County and everything is selling within 5 days of coming on the market. I don't think any of these houses have had open houses.

Similar in Alexandria City. Most do have open houses, but they’re listing on a Thursday and under contract Monday or Tuesday. The SFH are selling for anywhere between $20k and $120k over asking in most cases.

The occasional person is still making the mistake of overpricing and sitting, though.

[Anonymous]

Seems like a lot of houses are sitting in South McLean.

[Anonymous]

Anonymous wrote:I would never ever waive inspection. Never waived in the past and will never waive in the future. And I've bought 11 homes in the last 30 years in HCOL areas. FSBOs are my specialty.

Ok. Good luck if you want to buy a house around here in this market. Every desirable house inside the beltway is going to go to an offer that waives inspection.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would never ever waive inspection. Never waived in the past and will never waive in the future. And I've bought 11 homes in the last 30 years in HCOL areas. FSBOs are my specialty.

That's a lot of moving. Sorry for your children.

When we bought our house, we had an inspection but said that we wouldn't ask for the owner to fix anything (we did have the option to walk though if there was something major found). I think that eased her fears about this costing her more money. The prev owner of our home maintained it well, but was moving into a more expensive home, so she didn't want to spend any money on this one.

That isn't really why sellers choose the offers that waive inspection contingencies. The problem with the contingencies are that they are ... contingencies. An "out" for the buyer. It's more a question of a smooth process than it is of money. You accept an offer with a contingency, and they bow out, you have to re-list. Or if you go back to one of the other offers, they now know you had a deal fall through and you have lost some leverage if they are even still looking. It can be a huge problem, and cost quite a bit of not only money with the carrying costs and whatnot, but hassle and worry as well.

[Anonymous]

Anonymous wrote:Seems like a lot of houses are sitting in South McLean.

Where? Which houses? Are they the 3M and up homes?