Thursday, August 21, 2008
Detached houses sell well
There aren't many houses on the market in Tilden Woods, North Farm, Old Farm, Luxmanor, and Walnut Woods. The few that come on the market and look great with fair market pricing will sell, although the current average Days on Market is more than it was in the heyday of the market rush a few years ago. Within Montgomery County, the average Days on Market (the number of days it takes for an active listing to go under contract) is just over 90. In our market in North Bethesda, the average is 44 days. This shows great strength for our area. Prices have not dropped as much as elsewhere, although most detached homes that were in the $800k-$900k range several years ago might sell now for $725k-$825k. The key to a sale in a reasonable time and at the best price is to have the house "staged" to show to its best advantage, have the entrance landscaped, the house looking fresh and clean (free of distractions inside), with, hopefully, updated kitchen and baths. Our homes are now 42 to 50 years old, and even servicable original elements now lack the pizzazz that a current buyer is looking for. Some remodeling efforts are well worthwhile. I am an expert in knowing what updates will pay you back and which ones will cost more than they are worth.