Just sold with a boatload of equity

While the market has eased since last year, it can still be really challenging out there for buyers. Inventory is still low, with new listings down 30 percent over what they were a year ago.

But for buyers with vision who are willing to perform a few updates, there is opportunity.

Rooz and Marj wanted a new home with more space that was convenient to work but not too far from restaurants and amenities. Unfortunately, listing inventory in their target neighborhoods is low and buyer competition high. As savvy buyers who already own multiple homes, they were hesitant of overpaying and not interested in participating in a heated bidding war.

After looking at several homes, we became curious about one in Bethesda, MD that had been on the market for over a month. We gave it a tour and found it had many attractive features such as an open floor plan, lots of space and storage, interesting architectural details, and a basement that could easily be rented to produce income. 

But we also noted items that were deterring other buyers, such as deferred maintenance, missing light fixtures, and a backyard that didn’t feel private. Rooz and Marj were able to look past those minuses and envision what the home could be once those items were addressed. I helped them craft an offer and entered into negotiations with the sellers that lasted over a week. 

The result? They got under contract for 89.2 % of the original asking price along with a closing cost credit! They also didn’t have to waive contingencies for an inspection or financing, which feels rare these days. And the success doesn’t stop there… The buyer’s appraisal came in 16% over our sales price, confirming what we already knew: this home was an overlooked—and undervalued—gem. We closed and the buyers are ecstatic about their new home with instant equity and an income-producing basement. You can read more about their experience here.

If you want to dip your toe in the market, give us a call! We will do our best to make the real estate journey seamless.

Work with Melody Goodman

Melody is an earth-conscious Realtor® who is passionate about helping buyers find their ideal home, guiding sellers through this hot market, and inspiring everyone to live happier, healthier, and more sustainable lives. A Realtor for 15+ years (with 10+ in the DC area), Melody has experience navigating an extreme buyers market, sellers market, and everything in between.