February 8, 2014

2014 Suggestions for improved living/selling:

2013 was good year for Parkfairfax’s residential real estate market by nearly every account. Now one month into 2014, The johnANDjohn TEAM will share 4 key trends that are driving the market:

1.Inventory. As if today’s date, there are only 14 properties available for sale in Parkfairfax. Most listings continue to be lower than their 2007 peak; however, they’re moving up due to lower interest rates. Purchasers will soon learn they may need to be prepared to move quickly.

2. Move-in ready makes a difference. People who buy in the Shirlington area tend to have very busy schedules, and as such, gravitate towards properties that have no deferred maintenance and include recent upgrades, especially new kitchens and bathrooms. If you have a 2 bedroom home, add a bathroom. Making these investments before listing WILL increase your sale price. And you’ll enjoy them!

3. Technology has changed everything. Today's market moves very quickly. If you are selling your home, make sure to hire a broker who is using innovative technologies to expose your home locally, nationally and internationally in real-time. No one gets more viewings of their listings in Parkfairfax than The johnANDjohn TEAM. Every listing we get goes immediately into www.Parkfairfax.com which continues to generate approximately 6000 hits per month.

4. Closets are the New Kitchens/Baths. Everyone knows their kitchen/bath needs renovation in order to compete. Now, it’s closets. Call on any of the businesses that recreate closets, If you’re adding the much needed bath, have the closets renovated simultaneously.

So many of you have asked, "when will my home be worth what I paid". Here's some thoughts:

Why The Shortage Of Available Homes?

Some homeowners are hoping to recoup losses on their homes before listing them for sale. This could be a risky decision, as many economists have previously characterized the last peak of the housing market to be a “bubble,” or an abnormal spike in home values.    In some markets cash buyers are snapping up homes and making it difficult for mortgage-dependent homebuyers to compete.

Another common scenario that presents challenges to home buyers in areas where homes are in high demand occurs when there are multiple purchase offers for one home.    Buyers who rely on mortgage loans for financing their home purchase can improve their chances by being pre-approved for a mortgage before shopping for a home.

Rising Home Prices And Mortgage Rates, Short Supply Of Homes

According to Mark Fleming, chief economist for CoreLogic, home price trends are rising at their fastest pace since 1977. While good news for sellers, homebuyers may find fewer affordable options over time while also contending with rising mortgage rates.   In spite of rapidly rising home prices, national home prices remain about 19 percent below their peak in April 2006.

 

If you're ready to sell or buy, please call The johnANDjohn TEAM. We live in Parkfairfax, own property here, and cheer increased home values. We want (and get) top dollar for Parkfairfax homes. Check out www.Parkfairfax.com along with the 6000 hits we get monthly. We give your listing the maximum exposure to the marketplace.

 

John Welch

Associate Broker

The johnANDjohn TEAM

703-820-9723

RE/MAX Allegiance

www.Parkfairfax.com

www.johnANDjohn.net

 

Happy New Year, 2013!!

More Alexandria homes sold in 2012 than in 2011; and let's make that possible for many of you who want to move in 2013. Prices have escalated in the detached/townhome home market during 2012 and condos WILL follow. For those of you who want to sell your Parkfairfax home this year, there is a pent-up demand for homes. For those homes not renovated, there are investors who are buying.. Most people who want to live in thier Parkfairfax home, want it ready-to-move-in. And since most of our new buyers live here because of our excellent location and near Shirlington; their tastes are upscale and they want thier homes to reflect this. Those homes that have added 1/2 bath have become much more valuable. Consider adding one! It should add more value than the cost. Give us a call if you need a reference.

The johnANDjohn TEAM thanks you for your business. You've made us #1 in Parkfairfax for the past 13 years! 

Thanksgiving 2012

Best wishes to you and yours this Thanksgiving Season. We've so much for which to be thankful; the most important is you. You live (or want to) in one of the most wonderful spots in The United States, Parkfairfax. Our park is clean, our climate is moderate, we have beautiful greenery everywhere and we're near all the activities important to the world.And we can stroll to public transportation, entertainment, and necessities. So many of you conduct important functions that make our world a better place everyday; we are thankful. Many of you teach, are front line defenders, work in our nation's defense or take care of others. We are thankful. This Thanksgiving, give pause, be thankful and help someone.

Multiple Offers:
A VERY CLEAN Adams 1 bedroom model in Parkfairfax attracted 4 offers at the end of last week. It wasn't overly renovated; but it was VERY clean!! And 2 of the offers were above list price. We have clients looking for 1 bedroom models. Call The johnANDjohn TEAM at 703-820-9723. Check out what we currently have "for sale" at www.Parkfairfax.com

Happy Last Day of Summer 2012.....finds Parkfairfax's inventory continuing to be low. The most renovated homes continue to generate the quickest sales, which means the most money!  Some of you have told me you think quick sales are "for the Realtor". Really? Proof is in the statistics. The longer a home is "for sale" the lower the price a buyer is willing to pay.

Get you home ready to sell. In today's market, you need to thoroughly wash the windows. Buyers perceive the house to be well-maintained if the windows are clean. Please remember the areas between the screen and the window. Wax and buff to a new shine those gorgeous hardwood floors.

Display new towels in the bath(s) and the kitchen, change out the commode seat. Remove trash cans from view. Remember, we're creating an illusion. People want to see how they want to live; not reality. Look at homes for sale on HGTV! You'll quickly learn what to do.

Remember location when you're buying. The position of the home WILL NOT CHANGE. Everything inside CAN change. Renovations are not as important as location.

Come visit The johnANDjohn TEAM in Parkfairfax on any given Sunday. Allow us to introduce ourselves. And to those of whom we know; thanks for dropping in to visit and check out other homes.  Check out our clients' homes for sale on www.Parkfairfax.com and www.johnANDjohn.net . Now let's get ready for some changing leaf color and some cool days! 

Parkfairfax Owners: The New York Times has compiled a great article about Real Estate and how "walk-to-restaurants and entertainment" is the HOT TICKET!!



http://www.nytimes.com/2012/05/27/opinion/sunday/now-coveted-a-walkable-convenient-place.html?_r=1