An Open Letter to Sellers—simplifying your real estate sale

The Washington DC real estate market is stronger than any other time in history and is definitely a sellers market. If you are thinking of selling your home, you should have your home in its best possible condition before listing -- properties that remain on the market can become stigmatized solely because they have not been snapped up. Often, contracts on newly listed, well-priced homes are being registered in a matter of hours or days, not weeks or months. The response to Sunday open houses has been tremendous. Your real estate professional can help you get your home ready for market and prepare you for the decisions you will face as a home seller.

Given the perceived turn-around within Washington, as well as the suburbs—combined with the availability of low fixed-rate financing, tax incentives, adjustable-rate mortgages and creative financing possibilities, buyers also have many new opportunities. They are often able to look at properties in price ranges that they may not have considered previously. A realtor should provide financing examples to illustrate for prospective buyers what your home will cost.

Many potential sellers have been waiting to list their homes hoping the market will heat up further. Since settlements lag behind contracts by sixty days or more, firm statistics are hard to come by. We have seen obvious signs of a dwindling supply of properties currently on the market, and continued demand will cause prices to rise. This is balanced by interest rates fluctuations, with increases of even one-eighth of a percent putting homes just out of people's reach. While the supply of available homes will remain tight, increases in interest rates will sideline many buyers.

Given the current market, we hope to make a few suggestions that will help you properly position your property for sale.

As part of the W.C. & A.N. Miller Real Estate, We welcome the opportunity to speak with you about how we can be of further service in marketing your home. Our goal in any real estate transaction is to get results while reducing anxiety and saving time and money. In selling your home, this would include regular communication, minimizing disruptions, setting realistic goals and presenting your options in a manner that makes alternatives easy to evaluate. Please contact us at (202) 895-8950.

Tips for Sellers