Tim Trainum Properties
"Delivering a Preferred Experience in Real Estate!"
REALTOR®, VA License #0225235004
Posts from November 2018
Key Local Market Info!
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November
5
5
Low Housing Inventory in Northern Virginia; Challenging for Buyers, Advantage Sellers!
Housing Inventory at Historic Lows - Why?
The Northern Virginia housing market is in the midst of one of the most competitive environments experienced by buyers. "Why?" is a common question asked of real estate agents, but the question is usually met without a complete answer, so I thought it would be a great topic to address in this month's issue of Tim's R/Eview! The common answer given by most agents is simply "fewer homes for sale combined with an ever-growing number of prospective buyers". That response doesn't really explain the cause. The cause is a multi-faceted supply and demand side problem. Here's what I share with my seller and buyer clients to help them best understand how we navigate this type of market to ensure we reach their desired outcomes at full value.
The Northern Virginia housing market is in the midst of one of the most competitive environments experienced by buyers. "Why?" is a common question asked of real estate agents, but the question is usually met without a complete answer, so I thought it would be a great topic to address in this month's issue of Tim's R/Eview! The common answer given by most agents is simply "fewer homes for sale combined with an ever-growing number of prospective buyers". That response doesn't really explain the cause. The cause is a multi-faceted supply and demand side problem. Here's what I share with my seller and buyer clients to help them best understand how we navigate this type of market to ensure we reach their desired outcomes at full value.
November
5
5
Active Listings Remain Down in Northern Virginia; Highlights the Importance of Partnering with a Professional Agent!
Active Listings Remain Down - Advantage Sellers
What is an active listing? An active listing is a home offered for sale by the seller. It has been entered into the online Multiple Listing Service (MLS) and a real estate broker is under contract with the seller to market the home and solicit offers from buyers. Active listings in Northern Virginia have trended down, especially in the last year making it more challenging for buyers.
What is an active listing? An active listing is a home offered for sale by the seller. It has been entered into the online Multiple Listing Service (MLS) and a real estate broker is under contract with the seller to market the home and solicit offers from buyers. Active listings in Northern Virginia have trended down, especially in the last year making it more challenging for buyers.
Measuring the flow of active listings in specific Northern Virginia neighborhoods for my clients is important - just like economists who measure money supply in the general economy. The velocity of money in our economy is also important. In real estate, velocity is measured by the number of days on the market before an active listing goes under contract. The concepts also closely tie to advantage, leverage and who has it - buyer or seller. Professional agents thoroughly understand these concepts, current statistical relationships and much more. Why? Because a higher degree of knowledge means a higher quality of counsel that I can provide to my clients. In my view, I can be nothing less than a knowledge expert when I'm counseling a seller on how to position their home for market, or when I'm advising a buyer on the precise aspects that go into structuring a winning offer for the home they want to purchase.
Tim Trainum Properties
Office: (571) 386-1075 Cell: (703) 568-6750 Email Me
- 43777 Central Station Drive
- Suite 390
- Ashburn, VA 20147
Office: (571) 386-1075 Cell: (703) 568-6750 Email Me
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