Home Selling in 20816>Question Details

Nancy, Home Seller in 20816

CURIOUS ABOUT MY HOME VALUE & 1/4 ACRE LOT 5021 NEWPORT AVE. I HAVE MANSIONS NEARBY ON TINY LOTS, MORE TEARDOWNS W/O LOVELY ALMOST 3K SQ FT HOUSE

Asked by Nancy, 20816 Mon Oct 24, 2011

TOO! WONDERING IF IT IS A GOOD TIME TO THINK ABOUT DOWNSIZING, BUT ONLY FOR THE RIGHT PRICE!

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11
Glen Cove/ Crestview are highly desirable neighborhoods and, as you mentioned, land values have increased dramatically over the last 5-7 years. With the new development initiative around the Friendship Heights metro, your neighborhood is a prime contender for tear downs. However, there are also some really charming homes that are well located with an easy commute to DC. As the other agents have stated, having a few Realtors come by and see the home and discuss their marketing plan would be a very helpful and informative first step. We would welcome an opportunity to provide a no obligation consultation. Please let us know should you have any additional questions
0 votes Thank Flag Link Tue Oct 25, 2011
Hi Nancy

Your question is a good one. I would recommend you have a few agents out to talk about and give you an idea of what your home might go for in this market, anticipated number of days on the market, marketing plans, etc. If you sell now, could you get more next year? Who knows, the market is constantly changing, we are lucky in the inner burbs and DC that we have not been hit like much of the rest of the nation, and your zip code is one of the ones where properties are moving fairly well. If you are thinking about selling, have you thought about where you want to down-size to? Is there a home or condo on the market that you are interested in?

Good luck!
0 votes Thank Flag Link Tue Oct 25, 2011
Hi. I currently have a listing on Crescent Street around the corner from you. We have had a lot of activity. Let me know when a convenient time might be for me to pop over and take a quick look at your home. While I'm there, I could help assess the value of your home and give you some tips on timing....no obligation of course.
0 votes Thank Flag Link Mon Oct 24, 2011
Hi Nancy
Just to add a little more to all the advices, according to top headlines on real estate is that REO (bank owned properties) may not pick until 2013, which could mean that prices will not be getting much higher for normal conventional sales like in your case. Maybe you owe to check some realtors opinion to decide whether you'll consider selling or wait.
I'll be happy to assist you, that is my job and I do it everyday!
Joanna Halbritter
Long and Foster Real Estate INC.
240-498-4220
JHALBRITTER@LNF.COM
0 votes Thank Flag Link Mon Oct 24, 2011
Ms. Nancy,
Before you can decide if NOW is the right time for you to move, you need some facts. Particularly useful will be 1) what is the MARKET VALUE of my home on Newport Avenue? and 2) How much money will I need to spend to purchase an appropriate smaller property? I work with buyers and sellers in DC, MD and VA. I'm happy to share with you what I know about market value.
Kind regards,
Deborah Hrouda
Long & Foster, Associate Real Estate Broker
202 363 1800 ext 3727
Web Reference: http://metroDCmaison.com
0 votes Thank Flag Link Mon Oct 24, 2011
Dear Nancy,
Your question is a good one that many homeowners are asking. Buying now is the perfect time since rates are low and home seekers can purchase more for their money than they could a few years ago. That means, there are many buyers out there looking to buy right now, giving your home the chance to get a lot of tours. The more tours you get, the more chances you have of finding a buyer. Now regarding your home's value, I'd need to see it in order to make the necessary concessions to the price. Factors from switch plates, to door knobs to molding to floors, and more all play a part in assessing a home's value, and selling / asking price. Marketing is a huge factor if you do indeed decide to list your house for sale. You want someone with an understanding of on line marketing since >89% of homebuyers start their search on the internet. I suggest inviting 3 agents or so into your home for an assessment and to interview. I would be honored at the opportunity to be one of the REALTORS considered. Good luck Nancy!
Regards,
Ariana Loucas
0 votes Thank Flag Link Mon Oct 24, 2011
Dear Nancy,
Your question is a good one that many homeowners are asking. Buying now is the perfect time since rates are low and home seekers can purchase more for their money than they could a few years ago. That means, there are many buyers out there looking to buy right now, giving your home the chance to get a lot of tours. The more tours you get, the more chances you have of finding a buyer. Now regarding your home's value, I'd need to see it in order to make the necessary concessions to the price. Factors from switch plates, to door knobs to molding to floors, and more all play a part in assessing a home's value, and selling / asking price. Marketing is a huge factor if you do indeed to list your house for sale. I suggest inviting 3 agents or so into your home for an assessment. I would honored at the opportunity to be one of them considered. Good luck Nancy!
Regards,
Ariana Loucas
0 votes Thank Flag Link Mon Oct 24, 2011
Hi Nancy,

Your home is located in one of the most high-demand areas within Montgomery County. Selling in 20816 is no problem. Your home is tax assessed at over $710,000 and buyers are anxious to move into your area because of its close proximity to the Beltway and downtown DC. The real estate bad news that you hear is national not regional. The D.C. area remains strong and continues to appreciate.

Please feel free to google my name to learn more about my expertise as a seller's agent. I have lived here in Montgomery County for the past 55+ years, so I know the neighborhoods! I actually just moved into Leisure World, where I got a great deal and I love the community and all of its ammenities!

Just let me know if you would like me stop by and personally view your home and/or send you a comparative market analysis for recent sales in your neighborhood.

Have a nice evening,

:-)
Christine Sherrod, Realtor
301-908-8747
0 votes Thank Flag Link Mon Oct 24, 2011
It would be a good idea to connect with a good local Realtor. Interview at least two and be sure to ask for references. A good Realtor should be able to help you understand the market as well as your situation.
0 votes Thank Flag Link Mon Oct 24, 2011
Nancy, your market remains hot so selling could be a good option now.

As for the market price of your house, the best way to find out what that really is without needlessly raising or lowering your expectations is to have a broker/agent over to your house to look at the interior and exterior and give you a market analysis. In fact, invite more than one.

I would be glad to give you my opinion without obligation.
Web Reference: http://www.callPiero.com
0 votes Thank Flag Link Mon Oct 24, 2011
Hi Nancy,

I would suggest you find a local agent to get you a free comparative analysis. Then you would have the knowledge you need to make a decision. You can look here or if you like, email me and I'll find someone good for you to call.

Karen
0 votes Thank Flag Link Mon Oct 24, 2011
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