When today's buyers in Northern Virginia head out to look for a new home they have a lot of things to consider. They also have a lot of questions about home pricing, especially when they head into one neighborhood and see a wide range of prices on similar homes. As an agent it also raises a red flag to see a home that has been sitting on the market for 6 months or longer at a price point that doesn't reflect today's current market conditions.

Homes are selling in Northern Virginia. Homes that are priced well and in good condition can fly off the market in less than 30 days. In fact this past weekend a home in Annandale that my clients were interested in wasn't even on the market 24 hours before multiple offers arrived. Fortunately for my buyers theirs was the winning offer. Does this sound like a slow market?

In today's market it is more important than ever to forget what you paid for it and not try to confuse maintenance items such as a new roof or furnace with upgrades. Even the IRS doesn't give you credit for maintenance items when you are calculating your capital gains from the sale of your home. When a listing agent starts trying to justify every small item the homeowners have added to the house in the last 25 years I know where the conversation is headed. Adding stainless steel appliances is not a "fully upgraded" kitchen and replacing your old wall sink with a pedestal sink and leaving the pink bathtub is not a "completely remodeled" bathroom.

Unfortunately trying to justify pricing that isn't in line with today's market and the true condition of the house won't satisfy a savvy buyer. So before you decide to list your house have an agent help you identify the items in your home that truly make it stand out from the competition. Price your home according to what has recently SOLD in your neighborhood not what is currently LISTED. Identify the red flag homes and figure out why they haven't sold yet. If your home has any of the same issues then you know that you have to adjust your price to reflect the concerns that the buyers will have.

Remember that the first ten days you have your home on the market are the most crucial. Make them count! To read more about pricing strategies and making your home standout in today's market take a look at a few of my previous posts about selling your home.

Pricing Strategies in 2008
Is Your Home a Certified Pre-Owned Home?
If you List it They Will Come-Three Part Series


If you are planning to sell your home this spring give me a call. Let me show you how to make your home standout from the competition and put that all important SOLD sign in the front yard.

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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.

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