To meet the needs of today’s seller-friendly market, agents must juggle more than ever before to bring all the pieces together. I am often asked which should come first: finding my dream home or selling my current home?

To answer that question, I looked back at my sales for the past 14 months and discovered that over 90% of my buyer clients purchased prior to selling their current residences. I know that sounds scary; however, with the current lack of inventory, most buyers are writing a number of contracts before they “win the deal.”

Establishing a financial game plan to make this possible may be your answer. Between cash purchases, bridge loans, rent-backs and borrowing against your investments, your agent and a good local lender will help you explore a variety of options. Keep in mind that your house will also be on the market during this competitive environment when you go to sell. If this strategy is not doable — and since home sale contingencies are not an option at this time — you may alternatively consider selling your house and moving to a rental prior to finding your next home.

I recently had the opportunity to help a client buy an Old Town condo in a building that she had been interested in for almost two years. For one reason or another, every time a unit came up, the timing just wasn’t right. My client said: “Thankfully, Lisa kept her eye on the listings for me and alerted me immediately when one came on the market. She suggested I attend the brokers open house with her, and I did. The unit was absolutely perfect for me, and I made an offer that was accepted right away.”

Lisa’s team of contractors and service providers help her sellers prepare their homes for today’s fast-paced market.

The next step was selling Jane’s “beautiful home of 23 years during the busy holiday season of a pandemic year.” We worked together to create an action plan that allowed for her house to be on the market in a timely manner. This included decluttering, donating furniture, completing a few repairs, conducting minor staging, and procuring both photography and video of the property. With help from my team of contractors and service providers, we were able to quickly check off all the items on the list, and we even dealt with a few tricky issues as they came up along the way.

“Shortly after listing the house, mold was discovered in the basement, which required immediate remediation,” Jane explained. “Throughout this process, Lisa kept everything firmly on track while reassuring my many concerns. Following remediation, showings resumed, and the house sold to attractive buyers who presented an excellent offer and agreed to closing before my important deadline.”

I often hear from clients making the move from a single-family home to a condominium that they are worried about transitioning their furniture and accessories to a smaller space while still having the comfortable feel of their home. In Jane’s case, she “knew that this was the right move” for her and said she “did not have buyer’s remorse for a second.”

Lisa’s purchaser is happily settled in her comfortable new home.

As a follow up, I visited Jane’s condo with my fabulous photographer to take pictures of her new home. I was not surprised to feel that I was walking into her home in Jefferson Park. She had painted the walls the same color, added similar carpet in the bedrooms, and arranged her furniture and accessories beautifully. (I have included a few before and after pictures for you to see.)

I was extremely honored to receive a testimonial from Jane, which I would like to share: “Throughout this very stressful process, Lisa served as my cheerleader, advocate, confidante and knowledgeable real estate expert. I simply could not have asked for more responsive and capable representation when buying and selling. I recommend her highly!”

If you are thinking of making similar moves and need guidance on where to start, feel free to reach out to me for a private and confidential conversation. I would be happy to help!

Lisa Groover is a licensed real estate agent with McEnearney Associates, Inc. in Old Town Alexandria, VA. As an active member of the community since 1989, Lisa specializes in Alexandria, and is thrilled to have the opportunity to work closely with her friends, neighbors, former clients, and their referrals.

Take a look at our website for all of our listings available throughout Washington, D.C., Maryland, and Virginia.

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The short answer, it’s not too difficult to sell a home in today’s market. The longer answer is, to sell a home well in any market, it takes skill, expertise and experience. Selling a home well involves a lot more than just putting a sign in the yard or even getting it sold. Selling a home well means getting the home sold at the best price possible, with good terms for the seller and with the least amount of stress.

In the past six months, there have been 374 expired, withdrawn or canceled listings in the City of Alexandria alone. In a great market for sellers, those canceled listings were unsuccessful at selling, had to adjust, possibly sold later or just pulled the listing from the market. Considering that 1,429 homes sold in the same period of time, that’s a pretty substantial number.

There are many reasons selling a home may not succeed, and we would venture to guess that in most of these cases there was not a clear understanding of how to price the property well, or the property was not “show-ready” for the market. Many people believe that in a strong “seller’s market” such as this, a home can just sell itself. These numbers suggest otherwise.

It’s really important that your listing shows up on all marketing channels. Your Realtor should have access to all the traditional channels, but a strong digital presence and great media partners are especially important. Not all companies are able to provide this, but it is important so that your listing reaches the maximum number of potential buyers. Online marketing should include local news sources as well as national and global channels. Social media has now become a source of first glimpses at listings, so your chosen Realtor should have strong skills in putting out professional exposure in all channels.

Preparing for the market is a huge step in the process. Your home needs to be 100% show-ready, before buyers see it. Your Realtor should have excellent, reasonably priced contractors that can get any work done quickly. We often get homes painted, add granite counters, power wash, refinish floors and more — all in just a week or two. The contractors that a Realtor recommends know how important the “getting on the market” timeline is and work in tandem with your real estate professional to get the job done well and on time.

[blockquote author=”” link=”” target=”_blank”]The Peele Group has a Dream Team of experts — contractors, staging advisors, photographers and more — to help make the right preparations, minimize stress and maximize profits![/blockquote]

Creativity is huge in real estate. Not only is it important in marketing your home to the fullest extent, but it makes a big difference once you are under contract as well. Every real estate transaction is different and just when we think we’ve seen it all, a new wrinkle develops. This is normal, and a seasoned professional has a vast toolbox of resources and other professionals to keep the process going smoothly. Our team has trained with everyone — from the Ritz Carlton Hospitality team to FBI hostage negotiators — in order to expand our toolbox and accomplish our clients’ goals!

Your Realtor should be there throughout your entire process, guiding you through every stage. They will keep every step of the real estate transaction organized and on track to close. They will assist with preparation, the selling process, the final sale and even beyond. Their expertise will be key in realizing the highest profit for your home and the best match for your goals.

Selling a home well is an involved process, and it takes a professional to know how to make a plan, implement the steps and to sell your home smoothly. And it certainly means NOT having to be withdrawn or canceled, because it was not planned properly. For more information on selling a home in today’s market, contact Kim or Hope Peele of The Peele Group at 703-244-5852.

Kim Peele is a licensed real estate agent with McEnearney Associates, Inc., lives in Old Town and works in Virginia, D.C. and Maryland. She and her daughter Hope Peele are The Peele Group. Kim is a second-generation Realtor and fourth-generation Washingtonian and is dedicated to helping owners through the challenges of selling their home.

Ever been to an open house on a Tuesday? Me neither… until last week.

My client and I walked into a single-family home in Reston priced in the golden $700,000s for (what I thought) was a private showing. The cul-de-sac was packed with cars, and I counted at least five other groups touring the home at the same time.

When I noticed the listing agent sitting at the kitchen table, I asked her if I had my time wrong. She replied, “No, we just had so much interest we decided to open it up today and tomorrow from 10 a.m. to 6 p.m.” She also informed me that six offers had already come in on this listing before it went on the market officially. By Wednesday evening, the house was under contract.

Is this a true depiction of today’s market? Not exactly, but in some areas and particularly with detached single-family homes, this is our new reality.

The average sales price is up more than $50,000 compared to last year. Despite interest rates starting to creep back up, this will continue to be a seller’s market for the foreseeable future. If you are looking to buy a home (especially a detached single-family home) be prepared to bid well above asking.

This month instead of highlighting active or coming soon listings, I want to share with you some homes sold in the past few weeks that went tens (or hundreds) of thousands of dollars over list price.

A little overwhelming, right? Call me, text me or email me. I would love to help you develop the right strategy for this escalating market.

Mackenzie Horne, MBA is a licensed REALTOR® in the Commonwealth of Virginia with McEnearney Associates in McLean. Send Mackenzie a message at 571-594-9136, mhorne@mcenearney.com, or @MackHorneRealtor.

A good rule of thumb when it comes to downsizing is that it is better to do it before you really need to. You never want to be looking for a new home while you are in crisis mode. You want to look for your next home when you are calm and don’t feel pressured to do it immediately.

But how do you know that now is really the right time? I have a couple of simple questions that I use with my clients to determine whether they are ready to take the next step.

Does your house feel too big for you?

If your house feels too big — whether it’s because the kids are gone, the mortgage is putting a strain on your finances, or because it is just getting harder to clean — it is probably too big. It is time to consider downsizing.

Are small tasks becoming burdensome?

If you are feeling overwhelmed at the prospect of all the little things that you need to do around the house, like taking the trash down to the end of the driveway or picking up sticks from your yard, it might be time to downsize.

Are you paying someone else for things you used to do yourself?

If every month, you pay more and more to have people do the things that you used to do yourself, like mowing your lawn, cleaning your windows, or other routine home maintenance items, that is usually a good indicator that it is time to downsize.

If you have had these, or other thoughts about your current house, it might be a good time to start thinking about and considering your options, even if you aren’t planning on selling for another couple of years. Reaching out to a great Realtor should be one of your first steps. A good agent will have multiple resources to help you prepare for the next stage of your life. She will help you do the prep work on your house, such as removing excess items and selling them, or advising you on potential areas to remodel that will improve the market value of your property. Then, when the time comes, the home selling process will be easier and a lot less stressful.

A good agent will not only help you move out of your current house, but she can also help you figure out where you want to go next. Perhaps it’s a smaller house closer in to where you work, a 55+ community, a detached home where you can age-in-place, or a condo that does all of the maintenance work for you. There are options for you and your unique lifestyle needs.

At the end of the day, it is all about taking that first step and thinking about what you want from your future home. Downsizing is not something to be dreaded. Simplifying your life is always worth it in the end, and I would be happy to explore options with you.

Jean Beatty is a licensed real estate agent in VA, MD, and DC with McEnearney Associates, Inc in McLean, VA. If you would like more information on selling or buying in today’s complex market, contact Jean at 301-641-4149 or visit her website JeanBeatty.com.

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This is a question that we are asked frequently, as sellers begin to think about their home sale.

First, and most importantly, use a Realtor AND choose that Realtor early in the process!

Why? Many sellers think they should get their home looking fantastic before they invite a Realtor to walk in the door to discuss their plans for selling. First, we have seen every stage of selling a home, so nothing will surprise us, and we don’t judge — we kick into gear and help. Realtors are problem solvers, and we can often save you lots of time and worry.

Along the way, there are lots of steps, starting with a complete evaluation. Your Realtor should be the one to conduct this early evaluation of your home, give input on which improvements will increase your return and which repairs are most important for the sale. They will conduct a market analysis, show you what your financial return should be if you do the recommended tasks and then assist with coordinating contractors. Your Realtor should also bring in a professional staging consultant to weigh in, getting your home in the best shape possible for presentation to the market.

These steps are all just the beginning of the sale process, the part leading up to your home going on the market. If you wait and hire your Realtor after you’ve worked hard getting ready, you may have missed some important things, and you are doing yourself a disservice, as it does not cost you any extra to take advantage of the full array of services your Realtor offers. More importantly, you may possibly do the wrong things to prepare.

The average “For Sale by Owner” home sold for 26% less than homes sold by Realtors, according to the 2020 National Association of Realtors Profile of Home Buyers and Sellers. That’s because Realtors know what works. Most sellers have only bought or sold one or two homes in their lives. A professional Realtor sells two to four homes a month. Their tips and suggestions for selling your home at the highest price possible are based on experience and reliable data. They know what upgrades and repairs sell homes and what will matter most to buyers in today’s market. Their suggestions are made from solid evidence for the things that will help you sell your home for the highest sale price.

So, bring a Realtor in early to guide you through this journey. You are paying them to sell your home — why not get them started working for you early in the process? They will have you on the right path from the beginning, making sure you do the “right” updates and repairs and are getting them done by reliable, trusted contractors.

Our second tip is to clear the clutter — ALL of the clutter!

We live one way and sell another. What seems stark to you, looks open and spacious to a buyer. It’s important to clear every surface, except for a few accent pieces. Bookshelves should be culled, systemized and only partially full. Each room should be evaluated for style, to show the space, but should appear uncrowded. All evidence of pets should be minimized. Floors should be free of extra items, and carpets should be neutral and used sparingly. Bold, unusual colors and interesting decorations are what makes a home “our home.” However, open, neutral space is what’s needed for a buyer to realize the beauty of a home and to picture themselves and their own personality in the home.

Your Realtor’s staging consultant can help you identify which of your belongings can best be used to stage your home and what should be packed up and put in storage or the garage. Remember: You are selling your home, so make it the buyers home.

Our third tip: Make all of the repairs and updates needed. Don’t leave it so “the buyer can choose what they like.”

Trust your Realtor to give you guidance on what needs to be done to look great and to get the buyers into the home. Your Realtor will help you balance the cost of the list against the likely return. Sometimes, the cost of updating a bath is as simple as a new light fixture, new hardware on the cabinets and some paint. A kitchen may just need a new countertop, which can make a huge difference and costs less than most expect. We even have contractors that will take payment at settlement, if needed.

Contrary to what some believe, most buyers do not have the money or the time to do the updates after settlement. They look online and if the photos don’t look great, they won’t come see the home unless it’s priced significantly lower than market value. The overwhelming majority of buyers want the home to have basic updates, and they want them to be neutral so they can just add the accents to make it their home. If they have to do the work, then they will want to pay considerably less than the cost of those updates, and the home will sit on the market longer.

A good Realtor will help you to get quotes and will coordinate with the contractors to get the work done on the timeline needed. Your photos will look fantastic, the buyers will come and your potential for multiple offers increases.

Don’t forget about curb appeal. As soon as buyers park in front of your home, they should be welcomed by a tidy lawn, trimmed bushes, a wreath on the door and maybe even a power-washed walkway. When they walk in, they should be happy with the condition and the degree to which you have updated your kitchen, baths, flooring and fixtures. So don’t shrink your pool of buyers by leaving the work to the buyer. Remember, more buyers equal more contracts, which translates into a higher sale price.

So once you’ve done the first most important step and hired your Realtor, how long will all of the prep take? It really depends on your preference and your ability to swing into gear quickly. If you start out four to five months early, you will have a slow, leisurely approach to getting your home on market. This may be what works best for you. However, with a dynamo Realtor and your willingness to trust their judgment and recommended contractors, you can accomplish great things in just a week or two. If needed, a home can be painted from top to bottom in seven to eight days. Decluttering, purging or moving things to storage can happen within days as well. Granite counters can be measured for and installed within a week, at the same time other tasks are happening. Presto! You could be ready to go on market within two weeks or less!

To figure out and implement the best approach for your home sale, pick your Realtor early, talk through the process and your goals. Your plan should be written out, with some flexibility for the unexpected, but should be a very clear path to your projected launch date.

Kim and Hope Peele sold 40 homes in 2020, and their listings sold on average for 102% of list price. For a no-obligation consultation, call or text 703-244-5852 today!

Kim Peele, a licensed real estate agent with McEnearney Associates, Inc., lives in Old Town and works in Virginia, D.C. and Maryland. She and her daughter Hope Peele are The Peele Group. Kim is a second-generation realtor and fourth-generation Washingtonian and is dedicated to helping owners through the challenges of selling their home.

Take a look at our website for all of our listings available throughout Washington, D.C., Maryland, and Virginia.

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Clearly, my millennial mind was fueled by Spice Girls while writing this article…

Homeownership has been a cornerstone of the American dream for centuries. Despite the ever-changing landscape of urban and suburban lifestyles, it still rings true today. According to a 2019 Bankrate survey, 79% of Americans “still believe that owning a home is a vital component of achieving the American dream.”

Those Americans wanting to own a home are now from a different generation. It is the millennial generation that has surpassed baby boomers, reports the Pew Research Center. Not only have millennials taken the top spot in adult population size, but they make up the largest share of homebuyers. And, man, are they showing up in droves to the settlement table.

Over the past two years, millennials have held the top spot as homebuyers in the nation. According to the 2020 National Association of Realtors Home Buyers and Sellers Generational Trends Report, about 38% of buyers are born in the millennial generation (1981-1996) and roughly 69% are doing so for the first time. The majority of sellers are not in this generation. With a majority generation flooding the market as homebuyers, you start to see trend commonalities. Understanding what a typical homebuyer wants in their home can better position you as a seller to make your home desirable, thus making a larger profit.

Our area is in an inventory drought. Properties rarely stay on the market long enough to even make your scheduled showing the next day. With that being said, I still highly encourage sellers to envision their home through the buyer’s eyes. And, most often, that’s a millennial. I’ve listed a few of the hottest millennial buyer must-haves for sellers to consider in making their home stand out even more. Major renovations certainly are desired, but even minor tweaks can go a long way to get top value for your home.

Outdoor Space

As Mark Twain said, “Buy land — they’re not making it anymore.”

Although lot size can vary, it’s what you do with the space you have that matters. Many millennials are moving from a rental apartment that comes with none or very little outdoor space. They are seeking space and its versatility — a place for the dog to run, a space for small social gatherings, a patio to take work calls, etc. Some ideas to spruce up an outdoor space regardless of size are:

• Refresh your landscaping to the correct season and make your curb appeal pop.
• Power-wash your siding, windows, walkways, etc. to brighten your space and make it appear larger.
• Replace window screens if your outdoor space is limited so you can bring the outdoors in.
• Stage the outdoors! People want to see how a space could function.

Open Concept

The first option, of course, is to tear down the walls. However, that can be a huge expense for your budget and time. If that’s not in the cards for you, seller, the right staging can go a long way. Believe it or not, many millennials actually want space for a dining room table. To play up the space you have:

• Draw the eyes up to make the space feel big by adding open-air shelving all the way to the ceiling or installing curtains rods higher on the wall above the windows.
• Know that mirrors are your friend.
• Brighten up the room with a fresh, light color of paint or simply replace all your light bulbs to a brighter, cohesive voltage.

Upgrade the Heart of the Home

The kitchen is a room you go in every day. I’d argue it’s the most used room in the house and, also, usually the room with the most wear and tear. Without breaking the bank, try the following:

• Hire a professional to paint your cabinets — buyers can tell the difference!
• Replace your faucets and/or hardware for a more contemporary style. (Matte black is very popular!)
• Freshen up the backsplash.
• Revitalize island lighting fixtures.
• Meet a buyer halfway by installing modern appliances.

Bathroom Retreat

‘Like a trip to the spa’ is a very common mentality when a millennial is thinking about their bathroom. From a double vanity to heated bathroom floors, a luxurious bathroom is on their wish list. To achieve that mindset on a budget, try:

• Installing a new vanity with plenty of storage.
• Reglaze your old tile shower/tub.
• Re-caulk your bathtub for clean lines and low buyer maintenance.
• Swap out your old showerhead — match the style to your kitchen fixtures for cohesiveness.

Flex Space

Do you have a room or a nook in your house that’s not being used to its full potential? Millennials are looking for any space that could be used as multi-purpose. Here are a few suggestions to make that area come alive to a millennial buyer:

• Working from home is now synonymous with living at home — set up a desk.
• Put your exercise bike, yoga mat and/or dumbbells there.
• Drinks are poured! A funky cut-out in your basement could be the perfect space for a bar top.
• However, at the end of the day, most millennials entering the market have one thing in common… “They wanna really, really, really just buy their first house.”

As a fifth-generation Realtor and the granddaughter of an architect and builder, Sallie has deep roots in real estate. She is passionate for the charm, history and architecture of Alexandria and its surrounding communities. If you would like more information on selling or buying in today’s complex market, contact Sallie today at 703-798-4666 or visit her website SallieSeiy.com.

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