The Spring market appears to have already begun. There are lots of buyers out looking. We actually had a very active January. I had a listing in Chevy Chase that backs to the proposed Purple Line. Buyers had more of an adverse reaction to that than I had expected. I know that it affects value to some degree, but we had quite a bit of worrisome feedback.

The Impact of the Purple Line on Chevy Chase Real Estate

I think it is  the unknown of just what the proposed line will look like, how noisy it will be and how long the construction might last, which is an inconvenience. I think once the line is built and in use it will not be as much of a negative. The Purple Line will run along the current Crescent Trail which is now being used as a walking and biking path. The county claims it will still incorporate a path alongside the new light rail, but plans are not yet firm.

We reduced the price of this house based on the feedback we received…and got a full price offer in a week. We had over 40 showings of the house. It was a rambler on one level without a basement, so it eliminated a lot of the buying public based on the size.  Builders were not interested because they could not build an expensive enough house to be profitable, and buyers looking to add additions were limited by the lot. We found the perfect buyers who are a couple and are very excited about their new starter home. At the right price specific objections seem to matter less.

Competitive Pricing is Key to Chevy Chase & Metro DC Home Selling Success

We had a similar experience with a renovated colonial in DC that had been on the market with another agent for over six months. They never reduced the price. When we took the listing, we studied the market carefully with the owner and dropped the price $70,000 to be more competitive for the neighborhood. The owner was worried that he might have to accept a much lower offer due to the house being on the market so long. I assured him that most houses that are priced appropriately, sell relatively quickly and close to the asking price. I am glad he had faith in us because we received a clean full price offer from a well qualified buyer in a week. He was very pleased and commented that we were right.

We pay attention to the market and can help Chevy Chase home sellers and home buyers make the right decisions which will result in their best interest. After 30 years in the business, the most important thing to me is a job well done with a very happy client.

-Melinda