5 Myths About Buying or Selling Real Estate in NoVa


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When you have worked in the Real Estate business as long as I have you trend to run across some pretty common myths about the home buying and selling experience. Here are the top five that I run into a lot in the Northern Virginia Real Estate market.

1. It’s a buyers market.

News flash! It may still be a buyers market in Florida or Arizona but not here in the Washington DC metro area. The closer you get into the Washington Metro area the more it becomes a sellers market( and the more expensive). If you are thinking of buying your next home in the Reston to Leesburg (eastern Loudoun and all of Fairfax county) area you are in a more neutral buying position.

2. Short Sales and Foreclosure are bargains.

Lenders are much more in touch with local Real Estate market trends than many people want to give them credit for when it comes to pricing distressed properties. Having been a Short Sale Specialist in the Fairfax and Loudoun County areas for many years I can tell you that not all distressed property is a bargain. You should always consider condition and the wild card of buying an “As Is” property and what that can mean for you.

3. All Realtors are alike.

This couldn’t be farther from the truth. Realtors come with all sorts of experiences. Take a minute before hiring your next Realtor and read my post on what to look for when hiring a super Realtor. When you are buying or selling your most expensive investment, shouldn’t you hire someone that is up to the task?

4. I can sell or buy my next home without a Realtor.

Real Estate is much more transparent for many tech savvy clients. And although some people are very resourceful in finding information about there next home or even listing their current home on the web actually working through a Virginia Real Estate contract with its multiple addendum’s and clauses can be a daunting task. Every year I personally spend 15 to 20 hours learning about new contractual updates to the Residential Sales contract we use here in Northern Virginia. Nationally only about 4%-8% of Real Estate transactions are actually completed from start to finish without the use of a Realtor. Buying and selling homes worth hundreds of thousands of dollars is not a DIY moment.

5. The name on the sign matters.

I am extremely proud to consider myself a Prudential PenFed Realtor (I’ve also worked at Re/Max, Long and Foster and Samson Realty in the past) however; the fact is most of my clients choose me because of my knowledge and experience in buying and selling Real Estate in the Northern Virginia area not because of what’s on my business card. Like wise, I’ve also worked with many very professional and well-informed agents from firms I’ve never heard of before who have done a terrific job. So when choosing a Realtor to help you sell or buy your next home make sure you are looking at the whole agent and not just what’s on his business card or sign. Checkout my blog on “Hiring a Super Agent” on what to look for when hiring your next agent.

These are just a few of the Real Estate Myths I run into while selling Real Estate in the Northern Virginia Real Estate market. What’s the best way of avoiding these and other critical Real Estate pitfalls? Call or email me now to find out. Also, ask for my free no obligation Market Analysis of your home or community emailed directly to you.

Thinking of selling or buying your next home in the Northern Virginia area? Contact me for a custom detailed market analysis of the area you are interested in!

Chuck

Serving all of your Ashburn, Chantilly,Fairfax,Herndon, Reston, Leesburg, Mclean and Loudoun County area Real Estate needs