With low inventory in the DC Metropolitan area market, many homeowners are not to excited to sell their homes because they are concerned that they may not be able to find a new one. This can be tricky at time but if you are seeking to sell-whether to upgrade or to downsize -there are a few ways to get around the low inventory issue.
Look to buy first - In most cases, it is a common mistake to put your home up for sale before you start looking for your new property. First, identify the geographic area where you are interested in buying. Even if you don't see anything on Zillow, it doesn't mean you can't or won't find the right home.
Think outside the box - Be proactive! Keep in mind that there are most likely many people like you who want to make a move. Have your real estate agent send a letter to the neighborhoods in the geographic areas where you want to live or call the other agent who are active in those neighborhoods. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighborhood. You could find a home to buy that may not even be currently listed or for sale.
Protect yourself legally - Talk to your real estate professional about adding a home sale contingency clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.
Keller Williams Capital Properties - Fairfax