Located just six miles from the nation's capital on the west bank of the Potomac River, Alexandria has developed into a unique city with a historic downtown area preserved by strict reconstruction codes. Today, the city thrives as a premier location for many major corporate and organizational headquarters, including the Public Broadcasting Service and AT&T.
Looking at selling a home in Alexandria? Here are a few tips on what to advertise, whom to hire and where to find prospective buyers.
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| Population 128,283 | Median Age 34.4 yrs | Household Size: 2.04 |
| Avg Commute: 29.7 min | Avg Income $56,054 | Avg Home Value: $252,800 |
| July High: 88.5°F | January Low: 26.5°F | |
Selling a Home in Alexandria
If you are thinking about selling a home in Alexandria, there are probably a hundred things going through your mind. Do I need an agent? How long does it take? How much money should I ask for? Is there anything I can do to increase the value of my home?
For an answer to the first question, remember that a real estate professional can help you answer all of the other questions, so it’s probably a good idea to hire one. Real estate brokers typically charge a 5-percent commission for there services, which go beyond simply deciding on a number value for the price of your home.
A good agent will have an intimate knowledge of your local real estate market, which is instrumental in determining the value of your home. After all, if a similar house is selling for $20,000 less and is just two streets away, there’s no reason a prospective buyer won’t choose that one. It doesn’t hurt for you to know a little bit about the local market as well.
The Alexandria Market
The area is a strong seller’s housing market, though that doesn’t necessarily mean you should sell your home right away. Prices are still steadily increasing, and even the time of year can influence how much money you’ll get for your home. Housing is in strong demand, so if you set your house at the right price, you’ll find a buyer very quickly.
The area is extremely well valued; the average house sold in Alexandria in May 2005 was worth $675,000. Around 150 houses were sold in the same month, often with multiple buyers and with sellers receiving more than their asking price. Inventory of houses is not increasing with increasing demand, so you may get more for your house than you’d expect. Getting a professional to appraise your home even before you begin the process is a good idea, so then you’ll know if you’re ready to go through with it or not.
Advertising
Often, real estate agents can take care of almost all of the advertising process for you. However, if you know how to advertise your home and what to advertise about it, not only will it be easier to screen prospective brokers, but you’ll also be able to get involved in the process yourself. You will have to be involved when explaining what upgrades you’ve made to the house while you’ve lived there, and don’t forget that your agent can help you decide on other upgrades to increase the value of your home.
Of course, one of the most important aspects of your home is its location. Proximity to parks, bodies of water, highways and attractions can really make a difference if advertised properly.
Chances are you won’t have a problem finding prospective buyers if you are thinking about selling a home in Alexandria. If you do, consult with your local real estate agent and he or she will help you get the best possible value for your home.
By Justin Marshall
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®