Blog :: 03-2018

Amanda Davidson Real Estate Group is Northern Virgina's most trusted local, independent resource for real estate news and insight. Our team has its finger on the pulse of the real estate market in Alexandria and the surrounding counties. Here you'll find the latest market updates, local news, and tips for buyers and sellers.

Landsdowne Alexandria, Virginia 22315 Market Update March 2018

Landsdowne Alexandria, Virginia 22315 Market Update March 2018

The Landsdowne Subdivision in Alexandria Virginia is composed of 619 single family homes and townhomes. The homes in Landsdowne were constructed by Pulte and Richmond American homes between 1987 and 1989. The single family homes in the neighborhood range from 3-5 bedrooms and 2.5 to 3.5 bathrooms. All of the detached homes have a 1-2 car garage and some have fireplaces. While the majority of the single family homes have 3 levels there are some floor plans with 2 levels and some that are split level with 4. The townhomes in Landsdowne range from 2-3 bedrooms and 1.5 to 2.5 bathrooms. Some of the townhomes feature a garage and/or a fireplace. The homes range from 2-3 levels.

Community Amenities

The Landsdowne community offers its residents wonderful amenities. From a 25-meter outdoor swimming pool complete with a deep and shallow play area to tennis/basketball courts, wading pool, picnic area with grills, tot lots, and walking paths there’s a lot for residents to enjoy. The neighborhood has beautiful landscaping throughout and it’s rare to drive through and not see people out enjoying the area or taking their dog for a walk.

What’s Nearby The Landsdowne Neighborhood?

When it comes to location Landsdowne has it covered. Whether it’s major commuter routes, grocery stores, pharmacies, dining, or entertainment all are nearby the neighborhood. Landsdowne is within walking distance to two shopping centers. Landsdowne Center and Hilltop Village Center. Hilltop is the newest shopping center in the area and home to Wegmans, Burtons Grill, Green Turtle, The Joint, Panda Express, Mattress Warehouse, Hair Cuttery, Hilltop Dental Care, and many other dining and retail locations. Kingstowne Towne Center is less than ten minutes by car from the neighborhood. You’ll find additional grocery, dining, and retail options in the center. Commuters will find accessing 495, 395, 95, and Fairfax County Parkway from Landsdowne is very convenient. Access to the Franconia-Springfield and Van Dorn metro stations is also within 5-10 minutes from Landsdowne.

What Schools Will The Kids Attend?

Children in the neighborhood will attend Island Creek Elementary and Hayfield Secondary schools. For more information on these schools visit GreatSchools.


Landsdowne Real Estate Market Activity

The following is a review of activity in Landsdowne since March 2017.

•Number of Sales: 32

•Highest Priced Sale: $617,000

•Lowest Priced Sale: $252,000

•Median Sales Price: $361,500

•Median Days on Market: 7

•Median Sale Price to List Price Ratio: 99.36%

There is currently one home for sale in Landsdowne. The seller’s market in the neighborhood continues. If you are considering selling your Landsdowne home visit our home value calculator to receive a free estimate. It’s an excellent time to list your home for sale.


Interested in buying a home in Landsdowne? Reach out to us for more information on the neighborhood. We’d be happy to answer your questions and help you with your home search. Call us, Amanda Davidson Real Estate Group 703-988-1711.


Browse homes for sale in Alexandria.



Just Listed! 5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo For Sale

Just Listed! 5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo For Sale

Do not miss this Place One condo located minutes from metro, 495, and 395. Offering 850 square feet of living space and city views from the 12th floor.

This condo in Alexandria features 1 bedroom, 1 full bath, and 1 half bath. You’ll love the spacious master bedroom with a walk-in closet and attached updated master bath.

Place One is an amenity-rich community with secure entry,  24-hour security, front desk attendant, outdoor pool, tennis court, sauna, exercise room, dog park, and garage parking. This condo sells with an extra storage unit. Enjoy the best of both worlds with low maintenance living and a convenient location.

This Alexandria condo is listed at only $190,000!

Call me, Amanda Davidson, at (703) 431-3755 for a private showing today.




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    Alexandria Condos Housing Market Update February 2018

    Alexandria Condos Housing Market Update February 2018

    Condo sales in Alexandria saw an increase in median sale price from January. Less condos sold but, that doesn't mean the market isn't strong. Days on the market are low and sellers are enjoying a strong sale to list price ratio. 

    February 2018 Condo Sales in Alexandria

    •Number of Sales: 118 (decrease from 131 in January)

    •Highest Priced Sale: $1,755,000

    •Lowest Priced Sale: $106,000

    •Median Sales Price: $268,000 (increase from $245,000 in January)

    •Median Days on Market: 22 (decrease from 37 in January)

    •Median Sale to List Price Ratio: 97.43% (increase from 95.97% in January)



    How Does February 2017 Compare to February 2018?
    The number of condos sold saw very little change, higher this year by only six units. Median sale price increased by slightly under $5,000 in 2018. Days on the market saw no change and the median sale to list price ratio also remained consistent 2017 – 97.32% vs. 2018 – 97.43%.


    Current Condo Inventory in Alexandria
    There are 222 condos for sale in Alexandria, no change from inventory levels at this time last month. There continues to be low inventory in Alexandria. New inventory that comes on the market and goes under contract quickly have similar characteristics – priced correctly, reasonably updated, shows well, and has convenient showing instructions. Although inventory is low that doesn’t mean buyers don’t resist overpriced condos, they 100% do. Buyers are savvy and know when a property isn’t priced correctly.  


    Is it a Buyers or a Seller’s Market?
    The market is still favoring sellers. Rising interest rates and rising home prices have buyers out actively seeking their next home. Interest rates make the biggest impact on buying power and buyers are looking to secure their next home and lock in their interest rate before rates rise again. Rates are predicted to hit 5% by the end of 2018. Whether or not that will happen we can’t honestly say but, they have already increased multiple times this year and it’s something to monitor if you are considering buying a home this year.


    Thinking of selling? There really has never been a better time to do so. Record-setting median sale prices and record low inventory makes the market very favorable for sellers. The median sale price in the DMV was up 2.6% as compared to February 2017 which translates to over $10,000. This is the 17th consecutive month of year over year price increases. This doesn’t mean you can overprice your home though. We’ve been witnessing many homes go on the market that are priced too high and in turn, they continue to sit on the market. You only get one chance to make a first impression and you want it to be the best one possible. That means proper pricing, proper staging, and the right marketing plan.


    Use our home value tool to receive a free estimate.


    If you’re buying or selling a condo in Alexandria and have questions reach out to us and let’s connect. We welcome the opportunity to learn about your real estate goals.


    Browse Alexandria Homes For Sale



    Selling Your Kingstowne Home - 5 Maintenance Items You Need To Do Prior To Listing

    Selling Your Kingstowne Home - 5 Maintenance Items You Need To Do Prior To Listing

    Home buyers are out in full force in the Kingstowne area – hello spring market! If you are going to sell your Kingstowne home this year tackling maintenance items before it goes on the market is key for a successful sale. Check out the below tips to get an idea of the areas you should be focusing on.

    Service The HVAC – it’s guaranteed a home inspector will check the HVAC once your home goes under contract. Have it in tip-top shape before that happens. This is something you should have done twice a year as a homeowner to keep the system in good working order. Having the HVAC serviced before listing your home will not only have it ready for the home inspection it’s a chance for you to know upfront if any repairs are needed. If they are, take care of them prior to listing your home.

    Check The Smoke Detectors – if you didn’t just change the batteries and test them when we went on daylight savings time make sure you do it before you list your home. This is another item a home inspector is guaranteed to check. If your smoke detectors are getting a yellow look to them it’s time for a replacement.

    Deep Clean – this isn’t just your weekly dusting and vacuuming. We’re talking baseboards, molding, cabinets (including the top of them if they don’t go to the ceiling, all appliances, windows, floors, light fixtures, and ceiling fans. Every nook and cranny of your house needs to be cleaned when you’re doing a deep clean. You might want to hire a professional to tackle this task. If you decide to do it yourself break your house up into different sections and focus on one at a time. The details matter for a deep clean.

    Organize The Garage – the garage is an area that becomes a catch-all for many homeowners. It’s also an area that’s frequently overlooked when selling a home. Showing buyers that every area of your home has been maintained is key to getting top dollar. Organize the garage and get rid of clutter. Do the walls have holes or cracks in them? Do they need painting? How does the floor look? Maybe it needs painting too. The garage shouldn’t look like a storage unit and is another area of your house that will need attention prior to going on the market.

    Make The Exterior Shine – the first thing a potential buyer will see is the exterior of your home. Some buyers drive by a home before going for a tour and if it’s not appealing they never come to see the interior. Never underestimate the power of curb appeal. Trim bushes, mulch, clean the gutters, power wash, wash the exterior of the windows, clean the front door, replace the hardware if it’s worn, and look for any areas that need paint or repair.

    Kingstowne home buyers are looking for homes that are well maintained inside and out. It takes time to properly prepare a home to go on the market and an eye for detail. Your investment of time and money towards the maintenance of your home before you go on the market will pay off in the form of strong offers and less time on the market. Have questions about preparing your home for the market? Contact me, Amanda Davidson at 703-431-3755 or 





    Under Contract! 5868 Langton Dr Alexandria VA 22310 | RunnyMeade Townhouse for Sale


    Be the proud owner of this gorgeous townhome!

    Do not miss this charming, move-in ready townhome in Runnymeade, a community located just a mile away from the Capital Beltway and off of South Van Dorn Street.

    This townhome in Alexandria features 3 bedrooms, 2 full bathrooms and 2 half bathrooms. You’ll love its open floor layout. It creates a seamless flow through the different areas of the home.  

    Other features of the home include a lovely dining area, a spacious and modern kitchen with stainless steel appliances, a welcoming living room, a fully finished walkout basement, and two decks.


    This Alexandria townhouse for sale is listed at ONLY $450,000.

    Call me, Amanda Davidson, at (703) 431-3755 for a private showing today.


    Main Features
    3 Bedrooms
    2 Full Bathrooms
    2 Half Bathrooms
    Interior: 1,400 sqft
    Lot: 1,499 sqft
    Year Built: 1984
    MLS #: FX10177155
    5868 Langton Dr
    Alexandria, VA 22310

    Amanda Davidson
    Amanda Davidson

    (703) 4313755

    Listed by: Amanda Davidson

    Nearby properties for sale

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    In case you can not view this video here, please click the link below to view 5868 Langton Dr Alexandria VA 22310 | Townhouse for Sale on my YouTube channel:

    Under Contract! 5868 Langton Dr Alexandria VA 22310 | Townhouse for Sale

    A gorgeous, move-in ready townhouse awaits you!

    Imagine an exceptionally maintained home filled with natural light and spacious living spaces, complete with all the amenities for comfortable modern living.

    Alexandria VA Townhouse for Sale - Comfort, convenience and the best of retreat are yours in this beautifully appointed Alexandria VA townhouse for sale.

    That is what's waiting for you and your family in this 3 bedroom, 2 full bathrooms and 2 half bathroom townhouse in Alexandria.

    Built in the Colonial style and backing to the trees, this townhouse offers the comfort and privacy you've been looking for.

    It’s also offers the best of convenience and location!

    Runnymeade is located just a mile away from the Capital Beltway and off of South Van Dorn Street. It is only six minutes away from downtown Kingstowne, which means you have plenty of shopping and dining options near you!

    And you’re not just limited to Kingstowne.

    Alexandria West is only a 14 minute drive away, Annandale can be reached in 15 minutes and Springfield is 12 minutes away. This community is surrounded by parks, so you have no excuse to miss your runs and long walks.

    For your school age kids, all local schools are within a two-mile radius.

    Be impressed by this townhouse’s bright and airy interior

    Enter through the elegant front door of this charming townhouse and be welcomed by a good-sized foyer with neutral toned walls, lovely crown molding and polished hardwood floor which extends throughout the main level.

    Alexandria VA Townhouse - This Alexandria townhouse for sale places you just minutes away from all the local amenities and conveniences!

    A few steps down the foyer, to the right of the hallway, is the 11 x 10 updated gourmet kitchen.

    Featuring granite countertops, stainless steel appliances like an icemaker, a microwave, an electric oven/range and refrigerator, and beautiful kitchen cabinetry, this kitchen has everything you could ever ask for.

    Alexandria VA Real Estate Properties for Sale - The updated gourmet kitchen of this Alexandria VA townhouse is ready to deliver the best home-cooked meals you'll ever taste!

    The warm tone of the hardwood floor and wood cabinets enhance the cozy appeal of this kitchen.

    Dazzle your family and friends with your impressive cooking skills and let the aroma of great food tease their appetites.

    The 11 x 10 dining area is warm, inviting and elegant, thanks to the lovely crown molding, chair railing, and oversize mirror that runs the length of the wall.

    Alexandria VA Townhouses for Sale - The warm and inviting dining space of this Alexandria VA townhouse is a great gathering place when you are entertaining.

    Invite your friends over! This dining space has enough space to accommodate a 6-chair dining set. It is also open to both the kitchen and the living room, a great gathering place when you are entertaining during holidays and celebrations.

    Adjacent to the dining area is a bright and airy 20 x 13 living room.

    It’s easy to fall in love with the charm of this Alexandria townhouse living room.

    With built-in bookcases, a wood-burning fireplace, and large glass sliders which let plenty of natural light in, this living room is the perfect place to relax after a long day of work.

    Display your book collection! This townhouse has some great spots to showcase your books.

    Real Estate Properties for Sale in Alexandria VA - This Alexandria VA townhouse is exceptionally maintained, filled with natural light and spacious living spaces and complete with all the amenities for comfortable modern living. What more can you ask for?

    Open the sliding glass doors and step onto a good-sized wooden deck which backs to the wood.

    Several outdoor chairs, a deck umbrella, and a small table will complete this outdoor retreat.

    If you want to escape the noise inside the house or simply just relax, bring your book or magazine outside and bask in the sunlight and fresh air this amazing deck offers.

    If you love to entertain, this is a great spot for your outdoor grill. Open the sliding doors and you have an instant extension of your living room, seamlessly combining indoor and outdoor living.

    Alexandria VA Townhouses- Escape the hustle of daily living when you stay on the beautiful upper deck of this townhouse for sale in Alexandria VA.

    Rest and tranquility are yours in the master bedroom

    This townhouse is proud of its three large and well-appointed bedrooms.

    The 14 x 13 master bedroom is on the second level and has everything you need!

    Neutral toned walls, carpet floor, and big windows let in light and give the bedroom a warm and inviting appeal.

    It features a walk-in closet so you have enough space for your clothes and personal items.

    Townhouses for Sale in Alexandria VA - After a long day of work, what could be better than to relax in the luxurious master suite of this townhouse for sale in Alexandria VA.

    The en-suite bathroom is lovely and features granite countertops and a shower/tub combo.

    The family room of this townhouse is located in the fully finished walk out basement  and features wall to wall carpet, a tile surround wood burning fireplace, built in cabinets, a wet bar and glass sliding doors.

    This family room is a gem, a great spot for you and your loved ones to gather, relax and create wonderful memories together.

    Cozy and inviting, your kids will love the wide spaces when they play here.

    Townhouses in Alexandria VA - Comfort, elegance and space merge in this Alexandria VA townhouse for sale.

    There is also a bonus room in this basement that you can turn into another bedroom, a home office, a studio or a home theater.

    More outdoor retreat for you to enjoy!

    The glass sliding doors by the family room open to another stunning outdoor retreat, larger than the deck above.

    This lower level deck is spacious and fully fenced, giving you a secure spot for your parties and gatherings.

    It is also a great spot for your morning yoga.

    Clearly, this home is meant for comfortable living and high quality entertaining.

    Townhouses in Alexandria VA - Love entertaining? No worries! This Alexandria VA townhouse boasts of two decks!

    If you would like to see more photos of this home, or find other homes in the Northern VA area, visit my website

    Homes like this don’t stay on the market long! Make it yours for ONLY $450,000.

    Looking for a conveniently located home? Call me, Amanda Davidson, at (703) 431-3755. I’m your Northern VA real estate agent. Let me help you find the home that fits both your needs and your budget.


    In case you can not view this video here, please click the link below to view 5868 Langton Dr Alexandria VA 22310 | Townhouse for Sale on my YouTube channel:


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      St. Patrick's Day Fun For The Family 2018

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      St. Patrick's Day is one of those fun holidays where you get to adorn yourself in all things green, indulge in Irish cuisine, or even party at the local Irish pub with a pitcher of Guinness! If you're looking for entertainment that's a little more tame and family-friendly, however; it may be harder to figure out how to celebrate. Luckily the DC metropolitan area has a variety of cool events going on that can appeal to every member of your family. Check out some of our picks below:



      National ShamrockFest
      March 17th at 12 PM
      RFK Stadium Festival Grounds, 2400 E. Capitol St. NE, Washington, DC 20003

      The National ShamrockFest is a huge St. Patrick’s Day themed festival that adults and kids can both enjoy. This cool street festival will have food and drinks, games, carnival rides, craft vendors, and live music and entertainment with more than 30 bands and DJ's. You can score tickets to this event here



      The Alexandria St. Patrick’s Day Parade                                                                                                                                 March 18th at 1:30PM                                                                                                                                                                         King Street and St. Asaph Street, Alexandria, VA 22314                                                                                                         Dog Show will be held at Market Square from 11:30-12:30.                                                                                                                 

      This historical parade has been taking place for years in Old Town, Alexandria and is always a fun time! Watch the marines, local scouts, and high school bands march down King Street and enjoy the live Irish music and colorful banners. There's even a dog show that will take place before the parade kicks off and a couple Irish pubs to dine at after the festivities. Learn more about the event here


      Shamrock & Roll St. Patrick’s Day Block Party                                                                                                                         March 17th starting at 9 a.m.                                                                                                                                                      43751 Central Station Drive, Ashburn, VA 20147

      This event is Loudoun County’s largest outdoor St. Patrick’s Day celebration! This will be a super fun event for the whole family and is a great cause as the proceeds go to benefit the Loudon County First Responders Foundation. The festivities for this event include Irish bagpipers and dancers, games, local live music, giveaways and more. The Kid-friendly entertainment and gaming will take place until 1 p.m. Children 12 years old and under are free. You can purchase your tickets here.



      Port Discovery Children's Museum St. Patrick's Day Celebration March 17th from 10 AM – 5 PM                                                                            35 Market Pl, Baltimore, MD 21202                       .                                                       

      If you're looking for something to do with your little ones, then this is the event for you. This special event at the museum will be both fun and educational for the kiddo's. It will feature interactive stories and songs, science, and art stations where they can be creative, as well as a segment called "Mother Goose on the Loose" where your child can learn early literacy skills. Find out more about this event here.






      If you have any questions or suggestions about how to celebrate St. Patrick's Day 2018, let us know in the comments.







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        How Did Real Estate Sales Perform in Alexandria in February 2018?

        How Did Real Estate Sales Perform in Alexandria in February 2018?
        February 2018 home sales for Alexandria are in and very telling of the current seller’s market this area is experiencing. The median sale price saw a strong increase from January and sellers aren’t having to negotiate much (if at all) when selling their home, just slightly over 2%.

        Here are the stats for February 2018 in Alexandria…

        •Number of Sales: 331 (increase from 287 in January)

        •Highest Priced Sale: $1,950,000

        •Lowest Priced Sale: $96,500

        •Median Sale Price: $516,000 (increase from $429,000 in January)

        •Median Days on Market: 21 (decrease from 29 in January)

        •Median Sale Price to List Price Ratio: 97.77% (increase from 96.89% in January)

         To gain some perspective let’s go back and compare to February 2017…

        •Number of Sales: 329

        •Highest Priced Sale: $1,925,000

        •Lowest Priced Sale: $90,000

        •Median Sale Price: $445,000

        •Median Days on Market: 14

        •Median Sale Price to List Price Ratio: 97.80%


        Comparing the same timeframe from the previous year allows us to analyze how the market has changed. Median sale price is up by over 15% as compared to February 2017 – the number of homes sold and sale to list price ratio saw very little change.

        Active Listings in Alexandria
        As of today there are 656 homes for sale in Alexandria. An increase from 539 at this time last month. Certainly not a big jump in inventory but, we’ll take it! The lowest priced property is a studio condo with 471 square feet listed at $109,000 and the highest is a 4 bedroom, 2.5 bath townhome with 2,831 square feet listed at $5,745,000. Current active listings in Alexandria have an average of 31 days on the market.

        Pending Sales in Alexandria
        As of March 8, 2018 there are 611 homes under contract. Median days on the market for the pending homes is 13.

        View homes for sale in Alexandria

        The real estate market in Alexandria continues to be a seller’s market but, sellers need to understand that buyers in today’s market are well informed on inventory levels and continue to resist homes that are overpriced. Knowing that it’s a seller’s market doesn’t erase the need to properly prepare a home for sale and price it correctly. Failure to do that will without a doubt impact a seller’s bottom line. Making the best first impression when listing your home is critical to a successful sale for the highest price in the shortest time. Be the home that sets a record high selling price for the neighborhood not the home that sits and becomes stale inventory.

        Homes that sell quickly in Alexandria all have similar characteristics: they are clean and well maintained, reasonably updated, uncluttered, and they are priced according to the current market. As a seller, when you meet these conditions your home will not only stand out from the competition it will also have the best opportunity to sell for top dollar.

        Reach out to Amanda at 703-431-3755 or email to talk about the marketability of your home. Market reports are great for general information but, nothing replaces a comprehensive market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home is different and its features influence its price. Achieving the maximum dollar for your home regardless of the current market conditions is always our goal. You need a full service agent who has a successful track record not only selling homes but, selling them for top dollar!


        The Crest of Alexandria A 55+ Community

        The Crest of Alexandria A 55+ Community
        The Crest of Alexandria is a community that’s been anxiously awaited by many. I drive by on my way to the office every day and while it took some time to get the actual building going they are off and running now. The community is located off Telegraph Road just a few minutes from Hilltop Village Center – home to the sought after Wegmans.


        The Crest of Alexandria is being constructed on a portion of land that at one point was owned by Hilltop Golf. The Active Adult Community will be home to single family homes, townhomes with elevators, and condos. Once complete it will feature a clubhouse, outdoor kitchen, and yoga area. The clubhouse will be designed to offer social and wellness activities. There will be a fire pit, gardens, Koi pond, and walking trails. The Crest of Alexandria has been thoughtfully designed to encompass nature and serenity while still being minutes to daily conveniences.

        We stopped by to check out the townhomes with elevators being constructed by Craftmark Homes. Lori Windsor the sales manager and I worked together in the past and it was great to catch up with her and get the grand tour. We were wowed to say the least – the attention to detail in the floorplan to cater to the 55+ client is impressive. Craftmark really thought out their product and it’s simply beautiful but, also quite functional.

        On the ground level you’ll find a 2 car garage, mud room, workshop/flex room, powder room, and spacious rec room. You can take the stairs or the elevator to get to the second floor – your choice! It offers a kitchen fit for any entertainers dream, absolutely gorgeous, cabinet space galore, gas cooktop, Quartz countertops, and GE Stainless Steel appliances. The center island is perfect for gatherings and has room for everyone to sit and watch the chef prepare the meal. No being stuck in the kitchen and missing out on the fun here. The dining room is over 17’ x 12’ and we immediately pictured kids and grandkids gathering around for a family meal. Have a lot of friends you’d want to have over? Plenty of room for everyone to enjoy each other’s company. We can’t forget the family room with a gas fireplace on the 2nd level either, coming in at 22’ x over 13’ it’s the perfect place to relax and unwind or watch your favorite sporting event. Want to enjoy the outdoors? Just step out onto your covered terrace and enjoy the fresh air.

        The 3rd floor really impressed us with its design as well – again take the stairs or the elevator to get there, your choice! The master suite is exceptional. It’s very apparent by its size and setup a lot of thought was put into it, including the walk-in closet that has space to accommodate even the biggest shopping fan. There are two additional bedrooms upstairs, the model is staged having one as an office but, both have ample space for queen size beds if you wanted to have two guestrooms. Having the laundry upstairs will be very convenient as well.

        Our office is right up the street in Hilltop Village Center and we’ve been watching the neighborhood since they broke ground, it’s really starting to come to life. If you’d like to learn more about The Crest of Alexandria a 55+ community reach out to us. We always welcome questions and can arrange a private tour for you. Call 703-431-3755 to reach Amanda or email

        January 2019 Updated Pictures-
        Lots of progress being made!




        Real Estate Agents Giving Sellers False Hope On Market Value

        Real Estate Agents Giving Sellers False Hope On Market Value

        Inventory in many areas is low – extremely low, in some locations even historically low. Real Estate agents telling sellers that they can sell their home at an unrealistic price just to win the listing is nothing new but, it becomes more prevalent when low inventory is a current market trend. Low inventory is a positive factor for sellers, it all comes down to supply and demand, but, when inventory is low some agents take the path of telling a seller whatever they want to hear just to get the listing.


        In a seller’s market having more listings is something agents love. Why wouldn’t they? Homes in Alexandria that are priced correctly and located in sought after neighborhoods are seeing multiple offers. Competition for a listing from multiple buyers is a listing agents dream. The sellers are thrilled and the agent is too, contingencies waived, offers above list price … you get it. The dark side to this type of market is real estate agents not being honest about what a home’s current market value is. Market conditions change gradually and that includes rising prices. They don’t jump up by for example $50k overnight. Properly pricing a home comes from studying the comps, current market conditions, condition of the home, location of the home etc. It does not come from an agent’s opinion of what it will sell for just because there aren’t other homes to pick from. Pricing is one of the most important components of a successful sale and if you get it wrong from the start it’s not going to be pretty for the seller.



        I met with a seller a couple weeks ago and they were upfront that they were interviewing multiple agents. I expect pricing recommendations to vary and am never surprised if there’s a difference of $10k - $20k. Pricing isn’t based of a set formula and when that’s the case there will always be some type of variance. In this case however, I was blown away when the seller told me that there was a difference of $100,000 if they looked at the lowest price suggested and the highest. WHAT? I always try to put myself in the seller’s shoes and if you’re looking at your bottom line thinking you could have $100k more in your pocket I can understand why that would make you want to list with the agent that suggested that price. That’s a lot of money! However, the market prices your home and buyers resist overpriced homes, I don’t care how low inventory is. If there isn't data to back up the price you're headed down a costly path.



        Telling a seller what we think they want to hear just to win a listing is beyond unprofessional and against the code of ethics. That said, it happens regularly and unfortunately is more prevalent with the current market trends we’re in. For the ethical agents this is frustrating to say the least. We have a responsibility to be honest and provide a realistic market value for the home. It’s not an opportunity to toss an outrageous price against the wall just to win the listing.

        As a seller going with the agent who says they can sell your home for the highest price doesn’t mean you’re making the right decision on who is representing you. Your home is only worth what a buyer is willing to pay. Review the numbers each agent provides and ask them to explain how they arrived at their suggested list price. Agents who are recommending a realistic price will be able to go over every detail to show how they arrived at the price. Think about the cost of your home sitting on the market. I always compare it to stale bread – no one pays top dollar for stale bread. The longer your home sits on the market the less you’re going to sell for. Dropping the price until buyers see the value is a sure way for a seller to leave money on the table.




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