A look at how real estate is doing — June 2022 snapshot

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by Peter Fortner
Guest Sponsor

Interest rates haven't seemed to put a damper on activity in our area yet. Properly marketed and priced single-family homes easily sell in the first weekend and condos are no exception. So what are “properly priced and marketed homes”?

It's key to remember that choosing the proper partner in selling your home is paramount in reducing stress and increasing your net proceeds. I say "partner" instead of "agent" because that is what you should be throughout the transaction. Properties don't sell for a fixed price but within a range of prices based on the marketing and skills of your agent. Here are the basic 5 points of value you should be looking for in an agent and selling your home:

  1. Staging - Your home should show its best. This is accomplished through guidance of using your own furniture or renting from a company that enhances your home and doesn't make it look cheap. A little investment up front pays for itself in the end.

  2. Pricing - Pricing too high, or even what the neighboring property escalated to, can scare away buyers. Pricing too low could also be an area where we need to be conscientious of, since the market is changing. Understanding how buyers search and what the market is doing weekly and seasonally is critical to avoid leaving money on the table.

  3. Marketing - Maximum exposure and a property launch with high quality photos, marketing materials, and even video are critical to bringing as many eyes to the property as possible within the first week. Multiple offers are still the way, at least this month, to sell at the top of range.

  4. Negotiating - There can be five or more negotiating points to a real estate contract and price is only one of them. The best contract doesn't always have the highest price.

  5. Transaction Management - There are a lot of moving parts between contract and settlement on your home. Your partner should explain and handle these parts, so your contract closes with a minimum of uncertainty and surprises.

Neighborhood Feature: Shepherd Park

Shepherd Park, named after Alexander "Boss" Shepherd, served as governor of DC for just one year in 1873. The neighborhood features a variety of housing styles as well as some new condo developments just to the north of the Walter Reed development site. To the west, you'll find easy access to Rock Creek Park with all of its gorgeous walking and biking trails. On the northern side, you can easily enjoy downtown Silver Spring and where you will find the Metro. They are truly a part of our Georgia Avenue corridor in the District as residents and retailers are drawn to the developments at Walter Reed.

Reach out to me at any time for a confidential conversation if you are thinking or buying or selling a home, or if you are just curious about the value of your home or what steps you should take to make a purchase at any time in the future. I am here to help.

This is a sponsored post about local real estate.

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Peter Fortner

Peter Fortner, originally from the Midwest with family in Michigan, is now a DC resident of 20 years and currently lives in Park View. He is a local Realtor with TTR Sotheby's International Realty and prides himself on providing exceptional service to every client, regardless of price point. Peter serves as a board member of the Community Housing Trust, which is an organization that provides grants to other non-profits working to end homelessness in DC. Peter also serves on the Advisory Committee to the Mayor's Office of LGBTQ Affairs and is on the Advisory Council of the Lower Georgia Avenue Main Streets program. Outside of his real estate business and volunteer work, Peter loves plants, cooking, and working out. When you see him out in the neighborhood, Peter recommends always saying hello!



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