Thinking about listing your home for sale? Right now could be a uniquely ideal opportunity to get the maximum value for your home. And, yes, the process has been optimized for your safety.
- Buyers are out now and ready to buy – The 2020 Spring Market was off to a roaring start in January & February. Web site traffic on my site was up almost 200% versus last year. There are many home buyers who have been on the sidelines for the last 6-8 weeks, and they’re beginning to re-emerge as the lockdown ends.
- The market has barely slowed down, despite the lockdown. According to the latest data from the Dulles Area Association of Realtors, there were 567 sales of existing homes in March 2020, only 9 fewer than March 2019. Sales of town homes and condominiums increased!
- Interest rates are incredibly low. Due to the economic impact of COVID-19, the federal government has cut interest rates. Federal Reserve Chairman Jerome Powell has let loose the Fed’s arsenal of fiscal authority by issuing a blank check to buy Treasury and mortgage-backed securities. Between March 16 and April 16, the Fed was buying $79 billion of securities per day, expanding its portfolio to some $6 trillion. The purpose is to keep the mortgage industry liquid so that lending doesn’t dry up.
- Home prices are SURGING! A 26.3% drop in listings has continued to push housing inventory to historic lows. Buyers are competing fiercely for the homes that are available. The median home price in Loudoun County increased by 12.1% in March. Your home could be worth more now than ever.
Is It Safe?
Over the past 3 months, the real estate industry has changed from top to bottom to ensure the complete safety of buyers and sellers. Here are just of few examples of the new procedures in place to safeguard you and your family.
- Listing appointments are available virtually via Zoom or Facetime, or in person. In person appointments are conducted with social distance guidelines in mind, including a mask and gloves.
- All paperwork is completely digital or paperless. Contracts and addenda can be signed electronically via your phone, tablet or computer.
- The number of showings are minimized with virtual tours, drone photography, online floor plans, etc.
- All showing agents are provided with detailed instructions and training on how to conduct safe, “no-touch” showings.
- Title companies have implemented new processes to reduce the number of people at closing.
Why Not Wait?
With so much uncertainty in the world, you might be wondering if you should wait a few weeks or months and see how things go. Of course, no one has a crystal ball, but I would argue:
- Mortgage and interest rates are unlikely to go lower. The Federal funds rate is near zero, and mortgage rates have crept up a little has banks struggle to handle the volume of new applications.
- We could be headed into a global economic recession. Most economists are predicting a substantial recession, or even a severe global depression. The real estate market could slow down quickly as the economy works through the impact of the pandemic and lockdowns.
- We could see another wave of COVID-19 in Fall 2020. Many epidemiologists are predicting that a second wave is coming that will be very similar in impact to the first wave.
Why Choose Kelly?
- With almost 20 years of experience, nobody knows this market better. Read some of my Testimonials to see how my clients feel about working with me.
- Proven results! In 2018 I was the #1 agent in the nation at Berkshire Hathaway PenFed Realty. In 2019, I conducted more than $24 million in total transaction volume. I get deals done!
- When you choose me as your Realtor, you’re helping me support some of our most important local charities.
- Marketing matters! More than any other Realtor in the DC area, I invest in high quality, high powered marketing solutions to make your home stand out from the rest. Click on the button below to learn more about everything we do to market your home:
All the data is in. Right now is a great time to list your home for sale. Call or text me today at 703-966-7036 with questions or to get started.