The Wethman Group’s Real Estate News

August 1, 2017 by · Leave a Comment 

July 2017 Greetings! We’ve seen cooler temperatures in our area here recently, and a bit of a cool down in the housing market. The spring market may have just peaked–June saw the most homes sold in a single month in our area since 2005. The median sales price, however, dropped slightly from May’s all-time high. As you […]

The Wethman Group’s Real Estate News

December 22, 2016 by · Leave a Comment 

December  2016 Greetings! Despite increasing interest rates, November closed home sales reached the highest November level since 2009, up 16.5% over last year and reached the highest median price since 2005. Inventories saw a double-digit decline for the fifth month in a row, to just slightly below the 5 year average, but well below the 10 […]

Big Changes Coming to FHA Loans

February 4, 2013 by · Leave a Comment 

Big changes may be coming to FHA loans this year that may make FHA loans a far less attractive option for today’s buyers. Following a comment period, it’s expected that the following proposals will be enacted (read more here). Changes to Mortgage Insurance Premiums The annual mortgage insurance premium (MIP) for most new mortgages will […]

New FHA Condo Approval Rules Take Effect

September 24, 2012 by · Leave a Comment 

The Federal Housing Administration recently published revised guidelines to its condominium project approval process. Under the previous guidelines, many condo associations opted out of the FHA approval process, often due to the legal liability they incurred just by filling out the application. The new rules ease some of that liability, as well as increase the […]

Home Buyer Credit Extension for Military Personnel Serving Overseas

April 7, 2010 by · Leave a Comment 

Even though the $8000 first time buyer credit and $6500 repeat buyer credit are about to expire April 30, 2010, members of the military serving outside the U.S. have an entire extra year to buy a principal residence and still qualify! The IRS has stated that eligible taxpayers must buy, or enter into a binding contract […]

Northern Virginia & DC Market Update – January 2010

Northern Virginia & DC Market Update – January 2010

January 23, 2010 by · Leave a Comment 

Spring has sprung early as far as the real estate market is concerned.  Buyers are out and circling, anxiously waiting for inventory to hit.  I know I’m starting to sound like a broken record, but the lack of ‘good’ inventory continues to be the story in real estate circles. Check out our market data graphs:  […]