November 2019 Real Estate Market Outlook

Here is the November 2019 Market Outlook for Virginia Beach and the surrounding areas of Hampton Roads. More information can be obtained from The Real Estate Information Network. Read more here….

Cities	Median Residential Sales Price
Norfolk Virginia Beach Portsmouth Chesapeake Suffolk Hampton Newport News	$210,000 $257,500 $169,450 $290,000 $275,000 $180,000 $200,000

SMART Selling When the Market Shifts

Although the market has shifted, buyers are still out there! Don’t allow market trends to stop you from selling. In order to set yourself apart from your competition so you can sell your home in these changing times here are a few tips:

Don’t overprice, but set your price competitively. The lender, buyer, as well as neighborhood market trends set the price, so be flexible.
If your home needs some updating and you don’t want to take on that challenge consider offering incentives. Offer allowances for outdated appliances, carpet, etc. The buyer can get this done after closing, so making allowances sets the stage for buyers to see the potential of making your home theirs.
Not everyone loves pets. Get rid of pet odors and pet hair wherever possible. Have carpets professionally cleaned to remove pet smells.
Buyers need to envision their belongings in the home, so create a neutral landscape inside and outside. You can start packing ahead of time to remove clutter from your home. Paint the walls, choosing neutral tones throughout. Pack away pictures and collectibles, as you want a clean palate on the walls for buyers.
Light and airy makes a home welcoming. Opened blinds and curtains add light and make your home more pleasant and inviting.
If possible, get a professional home inspection before the sale. If repairs are needed you can make them ahead of time. In addition, it shows the buyers you care about providing them with a good home.
Stay in touch with your agent so you know what to expect from today’s market. Patience is a virtue!

These are just a few general suggestions for selling your home in a changing market. For a complete understanding of current market trends, average time on market and comparable home prices, call me. I’m happy to help!