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My Buyer’s Agent Tip of the Week | Luxury Homes

October 13, 2010 By Doug Francis

Custom built home in Vienna VA Doug Francis real estate agentNegotiation strategies vary depending on the price range and condition of the house, but the final months of 2010 may be the best time to negotiate on a luxury home thanks, in part, to the capital gains rate going back up on January 1, 2011. Yes, I am going to encourage you to set in motion an action plan that really is a “win-win” negotiating strategy to make one of those really nice homes, your luxury home.

But don’t kick back thinking that you have plenty of time because there is a lot to see (in Northern Virginia) and not a whole lot of time to spare. Take a quick look at your calender and you may already see holiday or vacation plans around the corner… so let’s take a look at what I am thinking about here.

Luxury Home Buyers have a strategy to use, today!

I am not a CPA, but as a real estate agent who has an eye on this specialty market that has a low “absorption rate”, I know that these sellers are well aware of the long-term capital gains rate going back up to 20%. So, any offer that you put together right now (fall of 2010) needs to go to closing before the end of the year.

I mentioned “absorption rate”, and that number will change in every real estate market as will what is defined as luxury homes, million dollar listings, or as Northern Virginia Agents like to call them, upper bracket homes. Looking over the last 90 days in Vienna, Oakton, McLean and Great Falls VA, at homes priced over $1.9 million, the absorption rate is currently over 20 months, and that’s if nothing new was added today.

Understanding this unscientific fact that most listing agents are probably going over with their clients, and the fact their CPA is probably encouraging them to sell before December ends is giving sellers a little extra motivation to negotiate giving the million dollar buyer a home buying strategy that they need to put into action today.

Sale on luxury homes ends soon (actually January 1, 2011)

Okay, there is a sense of urgency here and you should get rolling soon because the inventory that I just looked at has 196 active luxury homes listings for sale (no joke) and it usually takes a month to go from contract to closing.

And reader, before you go charging off calling a bunch of listing agents to let you into a bunch of homes that you just picked out online, know that the home Seller is actually expecting you to have your own agent (a buyer’s agent). Using a buyer agent can help you see all the properties in a shorter period of time, help negotiate from a strong, confidential position, and know that you have a professional working to help achieve your goals. Give me a call or e-mail, or let me know how it goes with a comment right here on the blog.

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Filed Under: Blog, Featured Posts, Home Buyer Tips Tagged With: great falls, home buyer, Home Buyer Tips, Luxury real estate, McLean, Northern Virginia, Oakton, real estate, Vienna Virginia

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna. He's a Boston University graduate who feels morning coffee is non-negotiable.

Helping my clients add value to their home has always been important to me. My step-by-step recommendations are intended to increase market appeal, return more then invested, and help net more when selling.

Beyond just sellers, I have helped many new homeowners make smart design decisions when remodeling. We gutted our house and totally remodeled it, and I pass that experience along because living in a nice house is simply better.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for Fall 2022 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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6723 Whittier Avenue McLean, VA 22101

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