The Winchester, VA real estate market has 76 three bedroom / two bath homes listed between $100000 – $200000. This is the most commonly sold home in the Winchester, VA market. Take a look, and if you see something you like, give your Cornerstone agent a call. We would be happy to help you.
The biggest change in the local market can be seen in the number of distressed properties sold in each consecutive year. Distressed property sales made up 33% of the 2012 sales. That number has fallen to 23% in 2013. Short sales were down 31% over 2012 sales, and foreclosures (REOs) were down 22%.
Frederick County had the highest number of distressed sales with 105 short sales and 174 foreclosures. The city of Winchester had 19 short sales and 38 foreclosures. Frederick County, which is larger than Winchester City, achieved the highest number of overall sales with 1207. Of that number, 23.2% were distressed properties. Winchester City had 301 sales with 19% of them being distressed sales.
With the increase in overall sales, and the drop in distressed properties, Winchester / Frederick County is on track for a return to a healthy real estate market. There are still bargains in the current inventory, but if the market stays on this track, it will be turning into a sellers market in 2014.
Winchester, VA real estate market review: 2013
Buyers buy with the eye. If you don’t believe me, think about the last time you bought a car. Did you buy the rusty bucket of bolts on the lot, or did you buy the shiny and clean car? I know the answer to that.
I had two clients over the past year and a half that did an amazing job getting their homes ready for sale. I asked them to clean the carpets and everything else, and paint and repair all of the things that needed repair. In both cases, the clients not only did what I asked, but they went beyond and in both cases, the homes sold for full price.
One sold in 12 hours, and the second one sold within the first week. They both listed within the range of the CMA, and they sold immediately. Those two clients got it. Buyers buy with the eye. A great house that looks like a million bucks will sell quickly.
Leaving deferred maintenance for new owners will run off a lot of potential buyers. Assuming buyers can overlook a few stains on the carpet, dings on the wall or burned out lamps is a big mistake. Buyers buy with the eye.