When To Fire Your Real Estate Agent

I’ve seen and heard some things lately from friends and family about questionable practices and I feel as though I have to address the issue of when to fire your real estate agent. It’s a point of practice in any profession that when you start to have that sinking feeling about someone or something, you should trust yourself.

How You Know It’s Time to Fire Your Real Estate Agent

1. When there’s no communication. If you repeatedly ask for feedback from your agent and receive none, or you ask to be called and they insist on text/email, or it takes days for them to respond at all about anything. It’s time to move on.

2. You start asking friends for advice because you don’t trust your agents advice. Getting a 2nd or 3rd opinion is one thing, but if you just truly don’t trust the words coming out of your agents mouth – it’s time to move on.

3. You keep doing the same things and getting the same results. This is a very tough market for a buyer. Short of paying all cash, way above list price and waiving all inspections and appraisals, it can be hard to “win” a house. That said, if you constantly employ the same approach and you keep losing, something isn’t working. Perhaps it’s time to change up the way you approach a multiple offer situation, or perhaps you should seek help elsewhere. Something’s gotta go.

4. If you just straight up don’t like them. Don’t work with them!

5. If they ever make you feel like the commission they’re earning is “small” regardless of what it is, they don’t deserve it. I’ve done deals that range from $100k – $1.4m. I treat every client with the same respect and attention. It’s not about the money…it’s about helping someone find their Home (and/or next investment).

You don’t have to work with anyone you don’t want to. Just like Doctors, Babysitters, Car Mechanics, etc. Work with people who you trust!

 

Strong Real Estate Sales in McLean VA in March 2014

More strong real estate sales in McLean VA during March 2014 continues to fuel the sellers market in McLean. Not a ton of numbers to report since most sales were single family homes and only a few condos/townhomes which I don’t use for averages.

22101

Single Family Homes
Average Net Sale Price: $1,272,269 in 67 days
Range: $675,000 – $2,850,000

22102

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $304,022  in 42 days
Range: $245,500 – $471,000

Single Family Homes
Average Net Sale Price: $1,530,275 in 70 days
Range: $980,000 – $2,850,000

Find Out What Your McLean Home Is Worth or  Search McLean Homes For Sale 

Falls Church City Real Estate Stronger Than Ever

Falls Church City real estate is now stronger than ever based on March sales. Average prices increased 44% from last year, days on the market fell to 34, inventory levels were unchanged, and sellers averaged 100.2% of asking price.

Single Family Homes
Average Net Sale Price: $620,168 after 33 days
Range: $316,000 – $1,152,000

Townhomes
Average Net Sale Price: $587,067 after 7 days
Range: $380,500 – $775,000

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $181,404 after 42 days
Range: $132,000 – $245,500

2 Bedroom, 2 Bathroom Condos
Average Net Sale Price: $295,300 after 40 days
Range: $137,500 – $569,000

Find Out What Your Falls Church Home Is Worth or Search Falls Church Homes For Sale

Condo Prices in Washington DC Increase 4 Percent in March

Condo prices in Washington DC increase 4 percent in March 2014, along with coop sales. A total of 564 properties sold on average in 47 days, for 98.2% of asking price. The average price was actually 1.4% lower than last year.

Single Family Homes
Average Sale Price: $735,424 in 42 days
Range: $72,500 – $2,395,000

Rowhomes/Townhomes
Average Sale Price: $630,117 in 41 days
Range: $85,000 – $3,895,000

1 Bedroom 1 Bathroom Condos/Coops
Average Sale Price: $344,798 in 35 days
Range: $140,000 – $735,000

2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $597,479  in 30 days
Range: $65,500 – $2,158,000

Find Out What Your DC Home Is Worth or  Search DC Homes For Sale 

Arlington VA Real Estate Market is a WAR ZONE

Another crazy, CRAZY month in real estate in Arlington VA. It is a WAR ZONE out there buyers! A total of 177 properties sold in March, with an increase of 4% in sale price, days on the market averaged 35, sellers averaged 98.2% of asking and active inventory increased 43%.

Single Family Homes
N. Arlington Average Net Sale Price: $1,008,077  in 34 days
Range: $514,500 – $2,050,000
S. Arlington Average Net Sale Price: $710,854 in 41 days
Range: $338,929 – $2,130,000

Townhomes
N. Arlington Average Net Sale Price: $770,650 in 22 days
Range: $439,119 – $961,632

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $364,373  in 35 days
Range: $179,000 – $460,000
S. Arlington Average Net Sale Price: $238,722 in 12 days
Range: $136,000 – $353,000

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $601,295 in 21 days
Range: $464,000 – $1,025,000
S. Arlington Average Net Sale Price: $386,538 in 26 days
Range: $315,000 – $466,900

Search Arlington Homes For Sale or Find Out What Your Arlington Home Is Worth

Getting Discouraged In Todays Real Estate Market? Try Not To.

I’ve been going on and on about how this is a sellers market, but let me brutally clear. This market feels a little bit like another bubble. People are waiving all contingencies, going way above market value, and accommodating huge needs and requests of the seller in order to appear as the most appealing offer of the bunch. It’s awesome as a seller and a listing agent, but frankly, as a buyer…it is just plain exhausting. It can feel disheartening to know that you’ll be up against a handful (at least) of other offers on almost anything you see…or even before you see it. The price range between $600-$1.2mish is really, really brutal these days.

A $650k tear down? 19 offers.

A single family home priced at $1M? 18 offers.

A newer single family home priced at $1.2m? 3 offers.

It can get discouraging, heart breaking, and just not fun. House hunting is supposed to be fun, imagining your new life in this new home and new place. Decorating. Painting, New Furniture. Fresh start. But todays market just sort of takes the fun out of it. Then you find yourself adjusting your must-haves list, maybe you don’t really need that, or maybe you can do without this…etc. and you find yourself settling. Or overpaying. STOP. Just STOP. That’s how we ended up in the bubble of 2005/2006 in the first place. Don’t lose your head. There will be other homes to buy, you may just have to wait a while. Demand is greatly outpacing supply and that means a lot of unhappy buyers. The problem? Inventory is so low that the people who COULD sell and make room for 1st time buyers really have nowhere to go because they have nothing to buy. There’s certainly less competition in the higher price ranges, but that doesn’t mean the inventory selection is much higher.

Take a deep breath. Look at the bigger picture. If someone is willing to significantly overpay for something – let them have it! Don’t get me wrong – you will not find a “deal” in this market, but maybe you can find something you’re actually paying market value for instead of hundreds of thousands over market price.

I’m an Economist by education but a Realtor in practice. I see things from the bigger picture, although emotions certainly get involved when people are involved. You’ll find something eventually, don’t give up!

DC Real Estate Prices Continue To Climb

DC real estate prices continue to climb according to February sales. A total of 514 properties sold on average in 51 days, for 98.5% of asking price. The average price increased 11% over last year.

Single Family Homes
Average Sale Price: $904,031 in 55 days
Range: $50,000 – $4,920,000

Rowhomes/Townhomes
Average Sale Price: $657,848 in 38 days
Range: $77,500 – $8,450,000

1 Bedroom 1 Bathroom Condos/Coops
Average Sale Price: $333,917 in 36 days
Range: $30,000 – $1,015,000

2 Bedroom, 2 Bathroom Condos/Coops
Average Sale Price: $69,116 in 42 days
Range: $186,200 – $1,700,000

Find Out What Your DC Home Is Worth or  Search DC Homes For Sale 

Sellers Averaging High Sales Price in McLean VA

During February, sellers averaged a high ratio of sale price to asking price in McLean VA. In 22101, sellers got 98.2% of asking while in 22102, sellers got 97.1%. A total of 45 properties sold and only 2 were distressed sales.

22101

Single Family Homes
Average Net Sale Price: $1,244,122 in 44 days
Range: $669,998 – $3,080,000

22102

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $299,786  in 56 days
Range: $233,000 – $447,501

2 Bedroom, 2 Bathroom Condos
Average Net Sale Price: $405,999  in 28 days
Range: $365,000 – $495,000

Find Out What Your McLean Home Is Worth or  Search McLean Homes For Sale 

Falls Church VA Real Estate Steady, Units Sold Increase

February sales show that the Falls Church  VA real estate steady sales continue. A total of 88 properties sold during February, of which 10 were short sales or foreclosures. Prices fell a little this month, but sellers averaged 98.5% of asking price in Falls Church City.

Single Family Homes
Average Net Sale Price: $571,125 after 50 days
Range: $240,500 – $1,150,000

Townhomes
Average Net Sale Price: $513,765 after 39 days
Range: $401,369 – $640,000

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $208,434 after 23 days
Range: $120,500 – $402,000

2 Bedroom, 2 Bathroom Condos
Average Net Sale Price: $233,333 after 66 days
Range: $100,000 – $395,000

Find Out What Your Falls Church Home Is Worth or Search Falls Church Homes For Sale

Arlington VA Real Estate Enters Into A Sellers Market in February 2014

What a crazy, crazy time this is for our area. The Arlington VA real estate market entered into a sellers market early this year and that continues from February into March. Some homes are receiving as many as 18 offers. Yes, 18. The median sale price has increased 6.2% from last year, units sold in February increased to 164, days on the market fell to an average of 50, and sellers averaged 97.8% of asking price. Inventory has increased 31% over last year, but that’s still not saying much! Condo prices are up almost 5% from last year.

Single Family Homes
N. Arlington Average Net Sale Price: $909,918 in 35 days
Range: $479,000 – $1,850,000
S. Arlington Average Net Sale Price: $613,823 in 60 days
Range: $300,000 – $1,195,000

Townhomes
N. Arlington Average Net Sale Price: $802,688 in 35 days
Range: $480,000 – $1,275,000
S. Arlington Average Net Sale Price: $542,500  in 30 days
Range: $375,000 – $860,000

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $302,638 in 42 days
Range: $180,000 – $430,000
S. Arlington Average Net Sale Price: $279,633 in 32 days
Range: $135,000 – $368,265

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $793,217 in 19 days
Range: $474,550 – $2,600,000
S. Arlington Average Net Sale Price: $457,382  in 41 days
Range: $309,500 – $569,000

Search Arlington Homes For Sale or Find Out What Your Arlington Home Is Worth

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