Real Estate Selling in the Washington, D.C. metro Area

–or real estate in the Washington, D.C.-metro area is different than in other locations of the U.S. The difference: The highly transitory nature of D.C. area homeowners. While there are some lifelong residents of the area, there are more homeowners with their “bags packed” than any other location in the U.S.

Many homeowners in the tri-state area are in the military or work for the federal government. From presidential cabinet members to the newest Department of Agriculture employee to the veteran military Attaché, area homeowners may need to relocate on short notice. During the last major national real estate/mortgage crisis (1980), with fixed rates as high as 18 to 21 percent, the only U.S. market that maintained consistent buying/selling activity was the D.C.-metro area.

This market gave birth to the mortgage balloon loan, many creative adjustable rate products and three- and five-year ARMs. Most home sellers, regardless of their “motivation” level, were able to sell at reasonable prices, even in a depressed market. Though economists claim that the recent recession has ended, the real estate market continues to face challenges. However, the creativity of area real estate gurus will help stimulate the market, as they have in the past.

There is good news for sellers. For every cabinet member, Attaché, military or government employee being reassigned, someone–a potential home buyer–is coming to the area. Working with savvy real estate advisors, many sellers will not suffer the ultra-long selling cycles besieging those in other U.S. markets.

For example, homeowners in volatile markets like Florida, Arizona or Southern California have few choices. Either dramatically reduce their selling price or prepare to wait until the real estate market recovers to sell their property. In Washington, D.C. Maryland and Northern Virginia, seller and real estate advisor creativity can shorten the selling cycle without totally depressing pricing structures.

Premier real estate companies, with experience and creativity, can help sellers market and prospective purchasers buy property quickly, stress-free and efficiently to keep the market alive and vibrant. Sellers and buyers can use this “Washington, D.C. real estate difference” to both of their advantages to achieve win-win property transactions and transfers.

 

 

7 years ago by in District of Columbia , Homeowners , Market News , Maryland , Real Estate Trends , Realtor Rebates , Virginia | You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site.
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