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Just Listed in Arlington

by ARLnow.com Sponsor May 18, 2018 at 6:00 am 0

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Is the heavy rain this week responsible for dampening Arlington’s real estate market?

Why else were sellers hesitant to put their homes on the market, and buyers seemed to take a siesta? Only 106 new listings hit the market this week, and buyers ratified only 64 contracts. That’s way off the pace of the last several weeks. Of those sold homes, nearly half sold within seven days.

Interest rates got a jolt on Tuesday reaching the highest levels in seven years. The 30-yr fixed rate is now ranging 4.75% to 4.85% with no points. It won’t be long before rates break the 5% barrier. Rising rates erode buyers purchasing power and forces them to look at homes priced lower.

Agents and lenders are reporting that homes, townhomes and condos priced below $800,000 are frequently receiving multiple offers. How do you win in the bidding wars?

Numerous variables are involved that all contribute to delivering the most attractive offer. But it starts with finding an experienced agent with a winning track record in the bidding wars. While sellers like to select the offer with the highest price, they often choose an offer based on other factors like the closing date, or free rent back, or fewest contingencies.

If you are a buyer just getting started, and know you’ll be buying below $800,000 you should talk to several agents and find one with the experience and skills to get you into the winner’s circle.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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