For homeowners looking to buy or sell in the Potomac Region, it is extremely important to work with a Realtor who can explain the market, highlight the pros and cons of various neighborhoods, and educate you about what to expect throughout the process.
We recently spoke with Nurit Coombe, the owner and managing partner of The Agency DC in North Bethesda, who The Wall Street Journal ranks as the #1 realtor in Maryland and #14 in the United States. Recently featured in Potomac Lifestyle, The NY Times, and Fox Business News, she shared her insights with us on market trends, advice for buyers and sellers, and the unique benefits of working with a boutique brokerage that offers a variety of services to homeowners.
What are some of the trends you’re seeing in today’s real estate market? Where do you see the market heading in the next five years or so?
Nurit: We continue to see a shortage in housing inventory in the DMV, which has kept prices high for 16 years in a row. While the Federal Reserve cut interest rates by 1% last year, mortgage rates didn’t follow suit and are unlikely to drop significantly anytime soon.
Housing in this area is still a good investment. While interest rates will likely remain high, we encourage our clients to look for the best house for them rather than the best deal.
We talk to potential clients about their needs, wants, lifestyle, what neighborhoods they see themselves living in, and their budget to help determine the best decision for their family.
Our biggest concern right now is the county’s “attainable housing proposal,” which aims to allow duplexes, triplexes, and quadplexes in single-family home neighborhoods. While the proposal seeks to address the housing shortage and provide more options for middle-income residents, it may not achieve its goal of affordability due to high lot and construction costs. Additionally, this plan could disrupt the character of our beautiful neighborhoods by mixing different types of housing within the same street, and concerns remain about insufficient infrastructure, overcrowded schools, traffic congestion, and the potential reduction of property values.
What advice do you have for buyers and sellers looking to make a change in the near future?
Nurit: We always say, “You marry the house, and you date the mortgage.” Your home is where you’ll create memories for years, and you can always refinance and change the mortgage later.
We encourage buyers to be patient and not to get frustrated. If it takes a little longer to find the house that’s right for you, that’s okay. If you work with an agent who takes the time to understand what you’re looking for and can educate you on the different communities and neighborhoods you’re considering, you’ll find what you’re looking for.
As for sellers, don’t put your life on hold waiting for interest rates to fall. If you plan to sell within the next two years, it’s never too early to start talking to a Realtor who can help you plan and prepare everything you need to get in order. Many of our clients begin decluttering and organizing two years in advance. It’s never too early to call us for guidance.
What are the benefits of working with a boutique brokerage like The Agency DC? What makes Team Nurit stand out?
Nurit: As a boutique brokerage, we offer full concierge service and a positive home-buying and selling experience to every client. We work as a team to capitalize on each other’s strengths, expertise, and resources. We do everything in-house, including professional videos, photography, social media, and marketing. All of our agents work full-time and have decades of experience.
We customize and plan for each client according to their situation, goals, and timeline. No transaction is identical; no client has the same needs, and no house has the same features. We are well known for our tailored approach and our complete and comprehensive marketing plans. That is something we are very proud of.
In addition, we have established relationships with contractors, lenders, title companies, attorneys, estate sale representatives, and other community professionals who can assist with the services our clients require. Our mission is to help homeowners maximize their sale price while minimizing the hassle.
Buying or selling a home can be an emotional experience. We’re here to hold our clients’ hands & guide them through the process. Whether they’re upsizing, downsizing, or moving to a new area, we focus on the positives and help them embrace fresh starts and new opportunities.
Any final words?
Nurit: My greatest joy is helping my clients make their real estate journey exciting and hassle-free, knowing we are here for them now and forever. Our clients become our friends and know they can always call us for anything they need, whether it’s finding a contractor, choosing paint colors, or just enjoying our parties and community events for years to come.
