(turn and face the strain)
-- David Bowie
There's no doubt in anyone's mind that the real estate market has changed. It's different today than it was 6 months ago. It's different from a year ago. And, oh boy, the real estate market is really different from several years ago.
As a real estate broker, a large part of my job is informing people about the realities of the real estate market. It is always up to the client to determine how much they want to offer for a property or whether they wish to have a home contingency inspection. My role is to provide guidance based on the reality of the current market. Same goes for sellers listing their homes for sale here in Northern Virginia. I'll provide you with the data about other home sales an help guide you to a suitable price.
Here's a look back today on some past guidance I provided by way of a handout to homebuyers. Note that I created this document back on April 27, 2005:
Buying a Home takes More than Luck!
7 THINGS YOU MUST DO TO BUY A HOUSE IN OUR CURRENT MARKET
1. APPROVED FOR YOUR LOAN
2. POSSIBLY WILLING TO WAIVE INSPECTION
3. POSSIBLY WILLING TO WAIVE APPRAISAL
4. MUST BE WILLING TO OFFER AT LEAST 5-10% OVER ASKING PRICE
5. ACT QUICKLY!
6. NO OTHER CONTINGENCIES
7. LARGER EARNEST MONEY DEPOSIT
No, I never advised anybody to waive a home inspection or an appraisal in 2005 or 2006 (or ever for that matter). However, I did inform buyers that the trend in the overhyped market would make it difficult for them to purchase without doing so. This was reality.
Boy Have Times Changed!
To learn about today's Northern Virginia real estate market, feel free to contact me and understand what you need to know now.
Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C.
Cell: 703-626-0715. If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Lorton, McLean, Springfield, Washington D.C., contact Brian today.
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