Fast, sourced comment on the Montgomery County housing market

First-time buyers

“The biggest mistake is waiting for rates to drop. Right now I see price cuts everywhere and sellers who really want to make a deal. My buyers have gotten anywhere from 3% to 8% off, in price reductions, seller credits or both. This isn't a market to buy your dream home. It's a market to get a deal.”

Buy now or wait?

“Every salesperson will tell you now is the best time to buy, no matter when you ask. I'd rather ask you a question: are you planning to flip it in a few months? If not, the right time to buy is whenever you can afford the payment, your credit can get you a good rate, and you have the savings to close.”

Getting sellers to pay closing costs

“I compare the house's condition with what similar homes actually sold for, and I build the offer from that. Then I give my clients a choice: take the savings off the price, or pay closer to asking and get it back as a seller credit toward closing costs.”

Most underrated neighborhood

“Poolesville. It has a real small-town feel and the Poolesville schools, and homes there sell fast: in the comps I pulled this summer, a median of about 9 days at roughly 99% of list price. You can still find a house that needs work below market, if you're okay with the drive.”

The DC market

“DC prices are holding up on paper, but far fewer homes are selling. Sales were down about 20% this summer and DC has the deepest supply in the region. In many neighborhoods I see price cut after price cut, and buyers who push the price down again after the inspection.”