Penderbrook Townhomes!?!?! What's going on??

If you have been following Penderbrook lately you will notice a shift in the townhome market here.  There are currently 10 Townhomes for sale.  Another one just came on the market today. 

That puts the average days on the market at 38.  Now this is nothing new for Penderbrook. There is always a lot of homes selling every year in the Penderbrook community.  Around 125 to be accurate and this is the spring / summer market.   The interesting thing is none of these townhomes are moving like they did in the years past. 

We are seeing pockets of Northern Virginia where there is an influx of inventory which is driving the days on the market up.  But then other pockets are garnering multiple offers over list price. Its a really interest dynamic unfolding. 

This is the very reason we talk to our sellers about beating the spring market and putting their home on the market in march / april so they are not competing with multiple homes.  You get more money when there is less competition. 

So if you are in Penderbrook and own a townhome and do not have to sell right now.  Please wait!!  If you do have to sell, make sure you consult me for a price.  More than half of the townhomes on the market in Penderbrook right now are over priced.  Which means they are missing the sweet price point of selling and because they wanted to test the market at one price, they now are going to run their days on the market up and they will get considerably less than that sweet price point, if they had only started at.  

We see this time and time again no matter how many examples and stories we tell of past experiences.  The truth is a lot of agents do not know how to negotiate and when a seller says they want X price, the agent caves and just takes the listing.  Bad for the client. 

This is why we consult our sellers on what is going on in the market. Yes we guarantee we will negotiate the most amount of money in the least amount of time for our sellers.  But if a seller is going to be unreasonable after looking at the facts, we wont list their property. Its not in their best interest, so we wont take a listing that we know we cant sell. 

Some agents just love having listings sit on the market and expire 6 months later.  They just want to get the leads off your listing.  I am more interested in getting your home sold quickly.

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