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ChAmber Blog

The Spring Real Estate Market Has Already Started!

3/12/2014

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Erin Mendenhall, Principal; Mendenhall Properties

The spring housing market has already begun – don’t be left out in the cold. Yes, that’s right. Despite the recent wacky weather (I’m talking about snowstorms one day followed by gorgeous, sunny skies the next), the spring housing market has already started. As the Principal of Mendenhall Properties, I know firsthand that right now in Northern Virginia there are an ample amount of buyers and a low supply of real estate.

Consumers expect interest rates will soon rise. That means they’re looking to take out loans and might do so this spring to take advantage of the lower rates. So even if you’re thinking about selling cold. Yes, that’s right. Despite the recent wacky weather (I’m talking about snowstorms one day followed by gorgeous, sunny skies the next), the spring housing market has already started. As the Principal of Mendenhall Properties, I know firsthand that right now in Northern Virginia there are an ample amount of buyers and a low supply of real estate.

All of that wacky weather impacted homebuilders. That’s good news if you’re looking to put your home on the market.  Some housing experts say that all of that wacky winter weather actually slowed down how many homes contractors were able to build. That’s right; the U.S. Commerce Department reported recently that groundbreaking on new homes last month declined 16 percent – the lowest level since September, and the largest percentage decline since February 2011.

So don’t wait for the cherry blossoms to bloom to jump into the spring market. Spruce up your property’s landscape. Mow the lawn. Appearance is often key to luring in potential-buyers.

Why is spring such a popular time in the market? Homebuyers are looking for convenience, too. For one thing, it’s easier to have a Move-In Day during warmer weather. But also, families want to sign on the dotted line so that they can move into their new home once school is out for their kids.

Remember: we Arlingtonians don’t have to try too hard to sell real estate.  I grew up in Northern Virginia, and one of my main selling points for potential homebuyers is the sense of community we have in our towns.

From the schools, to the parks, the shops and boutiques – that’s what sets us apart from other communities. If you’re meeting with a couple or a family that is interested in your property, make sure to tell them about what makes your house a home. The schools, the family gathers, the local parks – all of that counts to potential home buyers. Lucky for us, we can count on our community.

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