Category: Real Estate Sale

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In the world of investing, there is a prevalent temptation to try to time the market, to predict its ups and downs with precision. Many people believe that by jumping in and out of the market at the right moments, they can maximize their returns and avoid losses. However, history and the wisdom of seasoned investors and real estate professionals…cough, cough, your favorite Properties on the Potomac agent… have repeatedly shown that timing the market is an exercise in futility. Let’s shed some light on the fallacy of market timing and highlight the benefits of a strategic long-term approach to real estate.

1. The Myth of Perfect Timing:
Timing the real estate market involves predicting when to enter or exit the market with the expectation of making significant gains. Unfortunately, accurately predicting short-term fluctuations in the housing market is a daunting task. Real estate markets are influenced by numerous factors, such as economic conditions, interest rates, supply and demand, and local factors, making it nearly impossible to consistently time the market successfully.

2. Emotional Pitfalls and FOMO (fear of missing out):
Attempting to time the real estate market often leads to emotional decision-making, driven by the fear of missing out on potential profits. Buyers may rush into purchasing a home during a market upswing, fearing that prices will rise further, potentially overpaying for a property. On the other hand, sellers may hold onto their homes during a market downturn, hoping for prices to rebound, potentially missing out on better opportunities. Emotions can cloud judgment and lead to poor real estate decisions.

3. Long-Term Market Trends and Cycles:
Real estate markets are subject to cyclical patterns and long-term trends. While short-term fluctuations may occur, over the long term, real estate has historically shown overall growth. Instead of trying to time the market, buyers and sellers can benefit from understanding these broader trends and making informed decisions based on their individual circumstances and goals. A strategic long-term approach allows individuals to navigate the market cycles with greater stability and confidence.

4. Financial Considerations and Transaction Costs:
Timing the real estate market often involves frequent buying and selling, which comes with financial implications. Costs such as real estate agent commissions, closing costs, and potential capital gains taxes can eat into potential profits. Moreover, attempting to time the market may lead to hasty decisions, resulting in undesirable outcomes or the need for costly corrective actions. A long-term approach to real estate transactions minimizes unnecessary expenses and maximizes financial gains.

5. Location and Individual Circumstances:
The value of real estate is heavily influenced by location and individual circumstances. Factors such as job opportunities, local amenities, infrastructure development, and demographic shifts can significantly impact property values. Rather than focusing on market timing, individuals should prioritize thorough research and analysis of the local market conditions, as well as their own specific needs and financial situation. Making informed decisions based on these factors is more likely to yield favorable outcomes.

Timing the real estate market requires careful consideration and a comprehensive understanding of various factors. Don’t let the allure of market timing lead to unnecessary risks and missed opportunities. Instead, take a proactive approach by reaching out to our team of experienced real estate professionals.

Properties on the Potomac can provide valuable insights, personalized guidance, and assist you in making informed decisions tailored to your unique needs. Contact us at 703-624-8333 today to start your journey towards successful real estate transactions.

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For the past 3+ years the DC Metro area has been in what realtors would call a “seller’s market.” In a seller’s market, where demand outweighs housing supply, homeowners may be tempted to forgo certain maintenance tasks or overlook the condition of their homes because of the perception that their home will sell no matter what. However, regardless of market conditions, maintaining and presenting your home at its best is crucial to getting top dollar. By prioritizing upkeep and addressing any potential issues, you can maximize your chances of attracting buyers, securing favorable offers, and ultimately achieving a successful sale.

Here are some reasons why maintaining your home is a good idea when it comes time to sell:

  1. Stand Out from the Competition: In a seller’s market, there is often increased competition among homeowners trying to sell their properties. By ensuring your home is in excellent condition, you gain a competitive edge. Buyers are more likely to be drawn to a well-maintained home that stands out from others on the market. Attention to detail and a pristine appearance can make a significant difference in capturing the attention and interest of potential buyers.
  2. First Impressions Matter: When it comes to selling a home, first impressions can make or break a deal. Buyers often form initial opinions within moments of entering a property. By maintaining your home’s excellent condition, you create a positive and inviting atmosphere right from the start. This includes well-kept landscaping, a clean and clutter-free interior, and ensuring that all essential systems and fixtures are in good working order. A strong first impression sets the tone for the rest of the viewing and increases the likelihood of buyers envisioning themselves living in your home.
  3. Maximize Appraisal Value: Even in a seller’s market, appraisals remain an essential part of the home buying process. The condition of your home can impact its appraised value. Well-maintained homes with minimal repairs or issues tend to appraise higher, providing a solid foundation for negotiating a favorable sales price. Neglecting maintenance tasks and allowing your home’s condition to deteriorate could result in a lower appraised value, potentially leading to challenges in finalizing the sale.
  4. Smooth Transaction Process: A home in excellent condition tends to encounter fewer obstacles during the transaction process. Buyers and their agents will likely feel more confident about the property, leading to smoother negotiations, inspections, and potential financing approvals. By addressing any maintenance issues beforehand, you reduce the chances of surprises or setbacks that may arise during the sales process. This can save time, minimize stress, and increase the likelihood of a successful and timely closing.
  5. Preserve Buyer Confidence: When buyers see a well-maintained home, it instills confidence in the overall quality and integrity of the property. Conversely, a home with visible issues or neglect may raise concerns and create doubt in the minds of potential buyers. By proactively maintaining your home, you build trust and reassure buyers that they are making a sound investment. This confidence can translate into more competitive offers, fewer contingencies, and a smoother negotiation process.

In a seller’s market, it’s easy to assume that the demand for homes will outweigh any concerns about their condition. However, markets can change quickly and maintaining your home remains crucial. By prioritizing upkeep, making necessary repairs, and presenting your home at its best, you will ensure your home is a valuable asset that can lead to a successful and profitable sale.

Contact Properties on the Potomac at 703-624-8333 to learn more about what it takes to get your home sold.

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As realtors, we often get asked by those looking to sell their home about potential remodels or updates. Friends and family with long-term value in mind want to know if remodeling their kitchen, or installing new flooring, or adding an addition will be worth the investment when it comes time to sell.

But what about bathrooms?

Here’s the truth: updating a bathroom can be one of the most cost-effective ways to increase the value of your home. According to a report from Remodeling Magazine, an average bathroom remodel can recoup up to 60% of its cost at resale, making it a valuable investment for homeowners looking to increase the value of their property.

Here are some reasons why updating your bathroom before selling your home can be a smart investment:

  1. It improves the appearance of your home: a dated and worn-out bathroom can be a major turnoff for potential buyers. Updating the bathroom with new fixtures, flooring, and lighting can significantly improve its appearance and make a better impression on buyers.
  2. It increases functionality: upgrading the bathroom can also improve its functionality and make it more appealing to buyers. Adding a double sink, a larger shower, or a separate tub can make the bathroom more functional and appealing to buyers.
  3. It boosts energy efficiency: updating the bathroom can also include the installation of energy-efficient fixtures and appliances, such as low-flow toilets, LED lighting, and water-saving showerheads. These updates can help reduce energy and water consumption, lower utility bills, and appeal to eco-conscious buyers.
  4. It adds value to your home: a bathroom remodel can add value to your home, making it more attractive to potential buyers. By investing in the bathroom, you can increase the overall value of your property and potentially earn a higher selling price.
  5. It increases your home’s competitiveness: with many homes on the market, updating your bathroom can help your home stand out from the competition. A modern and updated bathroom can be a major selling point for potential buyers, especially if it offers features that other homes in the area lack.

When updating your bathroom, consider making updates that are neutral and timeless. Avoid trendy designs or bold colors that may not appeal to all buyers. Opt for classic fixtures and finishes that can appeal to a wide range of buyers and make the bathroom look clean, bright, and spacious.

In short: updating your bathroom can be a smart investment before selling your home. It improves the appearance and functionality of your home, boosts energy efficiency, adds value to your property, and makes your home more competitive in the market. By investing in your bathroom, you can increase your chances of selling your home quickly and for a higher price.

Thinking about updating your home with resale value in mind? Give Properties on the Potomac a call at 703-624-8333 for a free consultation!

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Why does one house sell in a day and another on the same street stays on the market? The answer is often an intangible “feeling” that one house provides over the other.

That feeling is happiness. Happy houses sell faster even if they are not perfectly staged and pristine. The occupants have decorated their house with joy and incorporated elements that they love. The house feels authentic and welcoming. Unlike formulaic staging, happiness cannot be “staged.” It has to be accumulated over time in layers and often begins on the day the occupants moved in.

Often, homeowners decorate and improve their houses for “resale” value; not necessarily that the improvement pleases them. That is when the authenticity issues rise. Those who design and furnish their homes to their taste, incorporating personal and family treasures and art, remain authentic to themselves and their homes show it.

Whenever my husband and I bought a new house, I decorated for our taste. I boldly painted two walls in a two-story foyer in a gloss “shutter green.” At the time, beige was the color of choice. Every time we entered our foyer, we were thrilled with the color. Neighbors and family expressed concerns that nobody would buy the house with the colors. The reality was that when we decided to sell it, we received two full price offers almost immediately.

Clients often ask me to give them “permission” to improve their homes for resale value even though they may have just moved in. My response is categorically, “Will this improvement make you happy?”

We spend a lot of time in our houses. Our environment must please us and not a prospective buyer. Tastes and trends change quickly so best to design and enjoy the home for yourself and your family.

When the time to sell approaches, that is when condition and design must be evaluated. Below is a list of improvements to make to improve resale value:

  • Replace carpets
  • Declutter
  • Clear closets
  • Clean landscaping and mulch
  • Seal driveway
  • Have windows washed
  • Replace/remove any worn or broken elements
  • Paint, if walls show wear or if paint is dated
  • Make sure that everything works properly
  • Have the house professionally cleaned

Below are some things not to do in preparation for sale:

  • Do not replace appliances
  • Do not change kitchen or bath counter tops
  • Do not remodel bathrooms or kitchen
  • If the basement is not finished, do not finish it for resale

When we meet with potential sellers, we discuss what it will take to get the house sold. We suggest improvements and staging, if any. Our goal is to make your house sell well and quickly.

If you are considering a move, please contact Properties on the Potomac at 703-624-8333 to review your house and design a plan for making it irresistible.

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While scam artists have always been around, modern technology has made their work easier and more effective. Readily accessible public records are fodder for them.

Recently, I received a text with the look and feel of an authentic inquiry. The writer inquired about commissions and timing. When I called the writer, he answered the phone. Our dialogue was typical of a potential seller. They responded with an Outlook email address to my request for their email address. The property address and description matched as well as the name given during our conversation.

The potential “seller” knew about the property’s features, details, and general acquisition information. My intuition had an initial twinge when I learned that the caller was out of town and wanted to sell as soon as possible. My scam antennae were on mild alert. I was planning identity verification measures before concluding the initial conversation.

The property in question was a vacant lot of substantial value. Fortunately, I am familiar with the area and the associated lots. My former investigator self was devising plans to verify the veracity of the caller.

Upon my return to my office, I dug deeper into the owner. I discovered phone numbers that did not match the one from which the text was sent. A phone call to the newly discovered phone number confirmed my suspicions. The caller/texter was a scam. The actual property owner confirmed that they had not spoken to me or asked to sell their lot. The owner was naturally upset. Was he being targeted, was someone trying to steal the lot, or was the texter trying to “tunnel” into my computer network?

How can someone other than the actual owner sell a property? There are many ways. One of the easiest ways is a gullible agent. Forged documents, identity theft, an absentee owner, an owner’s death, and many other scenarios can separate a rightful owner from their property.

What can a property owner do to protect the titles to their properties? Here are some ways:

  • If closing on a new purchase, buy owner’s title insurance. However, enhanced title insurance is typically not available for vacant land.
  • Another option is to subscribe to an identity protection service with a title monitoring option.
  • If you own investment property or vacant land, visit your properties, introduce yourself to the neighbors and ask them to alert you to any suspicious activities or strange or repeated visitors, visits or unexpected surveys.

At Properties on the Potomac, Inc., we are implementing new and higher levels of security to safeguard our community from this form of theft. We are educating our agents, working with professionals, and designing stringent security measures. The increased security measures might seem invasive to callers to our office and agents. Please know that we intend to protect property owners’ rights and never be duped to the contrary.

Through our affiliation with the National Association of Realtors, Northern Virginia Association of Realtors, and the Greater Capital Area Association of Realtors, we have available sophisticated resources and research tools with which we can help protect our clients and our community. If you have questions or concerns about real estate scams, call Properties on the Potomac at 703-624-8333.

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I recently showed a home that was set slightly below the road. I was immediately apprehensive.

Obviously not all homes can be built at the top of a hill—if they were, neighborhoods would look more like tiny Tuscan villages. But whenever a house is set below the road or otherwise at the bottom of a hill, you have to worry about water. Maybe the Tuscans had the right idea—they were protected from invaders and water.

Real estate pictures tend to only show the positive attributes of a home, and many times these photos don’t show the house in relation to the surrounding topography. If only technology came with a scratch and sniff feature, we could easily tell if incoming water was an issue without having to be in the home.

The basement of this home proved my suspicions correct—it had previously had a problem with water intrusion. How did I know for sure? It had been professionally waterproofed. In the unfinished portion of the basement, along two of the perimeter walls, there was concrete repair and a little piece of plastic that sticks out around the edge. These are telltale signs a waterproofing company had trenched around the interior perimeter of the basement and installed a drainage system that empties into a sump pump. The sump pump then pumps the water out and away from the house.


Now the home seems dry, but it will be something that a future homeowner will need to monitor in the future, and it’s definitely something you should know when considering purchasing a house.

If you ever do have issues with water coming into your home, here are some remedies:

1.If there is a sump pump installed, make sure it is working properly. You might also want to consider installing a backup battery on the sump pump in case of power outages.

2. If there are exterior stairs to the basement with a drain at the bottom, that drain must always be kept clear. At the very least, install an elevated drain cover to keep leaves and debris from covering it completely. If possible, consider building a roof over top of the stairs, to direct water away.

3. Extend downspouts away from the home. This can be done hrough a gutter extension kit (either above ground or dig a trench and extend it underground). A rain barrel is another good option, just make sure that the overflow extends away from the home.


4. Landscaping should be slightly elevated and sloped away from the foundation. Aside from the aesthetic, foundation flower beds serve an important purpose. They not only direct water away from the home, but the plants also help absorb any remaining water.

5. Put a cover over any window wells. You can purchase an inexpensive plastic cover from your local hardware store. They come in multiple sizes and shapes depending on what you need. If the window well is in a more prominent part of your home you, you can have a custom one made that is more aesthetically pleasing.

6. Apply a sealant to the interior foundation walls. Interior sealants are not a permanent solution but can help keep humidity levels down in the lower level.

7. Have the home professionally waterproofed. This is an effective, long-term solution to move water away from the foundation of the home.

It is extremely important to keep your home dry. Damp basements can lead to mold and mold can travel through the ductwork of your home, creating a toxic health hazard.

If you have any questions about keeping water out of your basement, reach out to us at 703-624-8333. Properties on the Potomac can help guide you to the right contractor.

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The facts indicate that there is a market shift in progress. Higher interest rates with minimal inventory is spurring some sellers to remain aggressive when pricing their homes for sale. Last year at this time, some listings were selling for as much as 33% over their list prices. However, interest rates were in the low 3% range. In the end, it is about what buyers can afford to pay in a monthly payment.

The active homes (for sale) inventory across our region is at historic lows. The current Washington, D.C. Metro inventory is between a 30-60 day (depending on location) supply based on last week’s contract activities.

My market analysis disclosed that the active to under contract prices show a dramatic price disparity of 15% to 60% (location based) higher than the average prices of the properties that went under contract. Accordingly, the average days on the market for the active properties is also 33-57 days longer (about 66%) than the under contract properties.

In our recently wild market, it was impossible to underprice a property because it would get bid up to above its market value. Therefore, the real estate agent’s role was that of order taker and contract dissector. That condition has now changed. Now, the experienced, knowledgeable agent will analyze the market’s activity, study recent comparable sales, and recommend the best pricing for your property to get is sold as quickly as possible because that is when the optimal price will be received.

Under today’s changing circumstances, we often hear, “If they don’t like our price, they can make us an offer.” The reality is that they will not make an offer and will buy another property that they deem better priced. Buyers do not want to get too creative or too aggressive. They do not want to enter into negotiations that could end badly while losing better opportunities.

In any market, an overpriced property will languish. In fact, not only will the property languish, but it will ultimately sell for below market value. The chart below shows how the initial price affects the sales price. You can see the importance of pricing the property correctly from the outset.

If a property is overpriced by five percent, it is not unusual to have a final sales price of 3%-5% below actual market value. Why give up value on the gamble that a buyer will overpay in today’s market?

In our industry, the saying goes, “The first offer is usually the best offer.” The first offer typically comes in quickly with a good price and strong terms. Missing out on that first offer will diminish the seller’s ultimate return.

How is market value determined? The skilled, experienced, and knowledgeable real estate agent knows their market, their buyers’ expectations, and is well connected with the top agents in the area. Their wealth of knowledge and experience will help you make the correct pricing decision.

The bottom line: properties that are priced in line with buyer affordability are selling quickly. Properties pushing prices beyond market values are staying on the market.

Are prices falling? No. Many homes are being priced incorrectly and need reductions to bring them in line with actual market values.

If you are thinking about selling your property this year, do yourself a favor and call one of our exceptional agents for a market analysis at 703-624-8333. You will know that the price you set on your property will be competitive, thus bringing you the best returns.

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“We plan to list in spring.”

Most people believe that selling their homes in spring (after March 21) is the best time. However, that is not real estate’s “spring” market.

Real Estate in no longer just regional, but national and even global. What happens in one area affects many others. Our properties in the Washington, D.C. Metro area are affected accordingly. Making decisions that affect one of your largest assets must be made with all of the best possible information. With this in mind, below are the five reasons to consider listing your property for sale now:

  1. We are not in last year’s market. There are no guarantees of unlimited buyers.
  2. The economy and corresponding interest rates are volatile.  
  3. In our decades of professional experience, the BEST time to sell is January, February, and March.
  4. Buyers have been planning their moves before the holidays and purchase after the holidays.
  5. Because most people count on the later market, the serious buyers have already made their decisions and purchased; leaving the inventory of listings to increase while the pool of buyers declines.

An example is from the post-2007 recession market: a client was being relocated to another state. They had to sell their home. We recommended listing it in February. After completing their presale activities, we put the house on the market in February. The first three groups who toured the house made competitive offers. Our clients made their move according to their best plans. Several months later, their neighbors listed their house for sale. Their house remained on the market for considerably longer than our clients’ property; selling with a single offer for slightly below my clients’ price.

In volatile markets such as this, delays can be costly.

If you are planning to sell your property this year, please contact us today so that we can help you make your best plans. Call or text us at 703-624-8333.

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Here we are – the beginning of 2023 ! You have been waiting to make decisions and commitments until the holidays are over. Now what?

If you are thinking of moving – up, down, around, or away – here are a few tips to help you structure your activities:

  • Decided whether you want to sell or keep your current real estate. Either way, consult a competent real estate broker. The possibilities are endless and your investment and risk are huge. Be selfish and work with the best (that would be us – read our website and see for yourself).
  • If you plan to sell, list long before you want to go on the market. That way pre-marketing excitement can bring the best buyer.
  • Go through all the nooks and crannies of your home (that includes closest that you often use). Start with all off-season belongings first. Decide whether you will keep, toss, or donate.
  • If you have a home of 2000+ Square Feet, know that it will take you several weeks to complete the culling and packing.
  • Be smart and not impulsive. There are many garments and things, that due to the current circumstances ,have remained unworn or unused. Do not throw away anything on a whim. It doesn’t matter if it makes you happy if you will need it later. You will buy it back for more money and of lesser quality. Keep your stuff. Your happiness will compound with lower bills. Be a good steward.
  • Do not make capital investments in your current home unless it will be a coat of paint and some flooring. Keep it simple. Do not replace appliances with stainless steel.
  • Chose a smart real estate agent who knows what sells and what brings in the most return for your investment. – Again, that would be us – not bragging, just the facts.
  • In 2022, our listings sold for 105% of list price and our buyers paid 95.5% of list price. How is that? Ask us.
  • We’ll be happy to show you how you can benefit from our 35 years of experience in all sorts of markets.

Looking to make a move in 2023? Give Properties on the Potomac a call at 703-624-8333!