The Wethman Group’s Real Estate News
July 1, 2016 by wethmangroupadmin · Leave a Comment
June 2016
Greetings! |
This Month in Real Estate June 2016
June 16, 2016 by wethmangroupadmin · Leave a Comment
Here are just a few of the national real estate numbers we are tracking for you now. For more info contact us.
The Wethman Group’s Real Estate News
April 28, 2016 by wethmangroupadmin · Leave a Comment
April 2016
This Month in Real Estate February 2016
February 15, 2016 by wethmangroupadmin · Leave a Comment
Here are just a few of the national real estate numbers we are tracking for you now. For more info contact us.
Reasons to Sell During the Holidays!
January 7, 2016 by wethmangroupadmin · Leave a Comment
Should you keep your home on the market during the holiday and winter months?? Will you get any buyers or traffic through your house? Many clients ask us these questions, as the holidays are approaching and the answer is YES! While the real estate market may slow down more in the fall, compared to the spring, there are still buyers out looking, even during the cold winter months! While it may seem odd, here are some of the best reasons you should list/keep your house on the market during the Holidays!
Serious Buyers
-The weather during the winter and holiday months can be cold and dreary, so buyers out during this time are serious, and not just “seeing whats out there”. Buyers that look at your home through the holidays, are usually serious and ready to make a decision quickly.
Sense of Urgency
-Buyer looking during the winter months, are likely starting a new job, relocating or getting transferred with the government or military. In this case, they have a firm deadline of when they need t find a home!
Less Inventory/Competition
-Since many sellers think buyers won’t be looking during the holidays, many will take their home off the market and relist in the spring. That is good news for those still on the market, because less supply of homes, means more demand ( and showings) from buyers.
More Negotiating Power
-When there is less inventory, and a home is priced well, sellers have more negotiating power. If your home is listed during the holidays, they are not many other houses, and buyers HAVE to purchase, many sellers will receive strong offers and terms.
More time to Search
- Many people are off around the holiday, which means they have more time to search for houses online, and more time to see them! Although some people may be traveling, there are still many than stay home, and will likely be on their phone or computers looking at properties!
Flexible timing
-Despite having your home for sale, you can set specific show hours, or decline appointments that are not convenient. Also, keys can be removed from the lock box over Christmas & New years, to ensure that you wont be disrupted.
Planning
-If you know you will need to sell during the holidays, you can also take pictures in the fall, so that your house looks more inviting compared to bare winter photos.
Houses feel more inviting!
-During the holidays, your home is usually decorated and feels inviting! This is another added benefit for buyers to see the house, from a different perspective.Certainly, less is more, but they can see the benefit of a large wood burning fireplace, and appreciate an energy efficient heating system!
Taxes
-Some buyers may need to purchase before the end of the year for tax reasons, so this increases their motivation even further.
These are all great reasons to sell or keep your house on the market during the holidays! If you have questions regarding your neighborhood, and what would be the best time to help you get the most money in the least amount, contact us for more details!
The Wethman Group’s Real Estate News
October 6, 2015 by wethmangroupadmin · Leave a Comment
October 2015
Greetings!
We hope this newsletter finds you well rested and relaxed as summer comes to an end and the kids are back to school. We have continued to stay busy here at the Wethman Group with 20 settlements in August and September! We’re also proud to announce Katie Wethman, our Managing Partner, landed a spot in the Washingtonian’s Best Agents List! But on to the news…
Though the press is touting continuing strong market conditions, on the ground our team is seeing the market slow down ever so slightly in our area. Of course there are still pockets of hyper activity, but we’re seeing inventory drop and some buyers sitting on the sidelines. The specter of rising interest rates loomed large for buyers in the past few months, but now the Fed has backed down given global economic conditions. Without that urgency driver, we expect buyers to be taking their time this Fall and Winter. Staging a home and pricing it well will become more important than ever for sellers.
Sellers, if you think you’ll be selling in the next 4-6 months, contact us now so that we can come up with a game plan for preparation and staging, including photos.
Even though Joaquin looks to be headed out to sea, this is still a good time to prepare for other storms sure to come; homeowners, move small items indoor or store in sheds, and secure anything that might blow away in high winds. And when this rain does clear up, go ahead and trim those trees of any dead or low branches that can become problematic in storms. If you find yourself with water in your basement and need to clean up, you may need to rely on professionals like ServPro. Act quickly to minimize damage from mold and mildew. (If you need recommendations for vendors or for waterproofing companies, just contact us!)
Check your sump pumps and battery backups. Too often we’re not diligent about checking for water leaks and backups until it’s too late. For extra peace of mind, one of my favorite inexpensive ‘must haves’ for the house is abasement water alarm like this one. I have several in my home, in fact–near the sump pit, near the water heater, and near the HVAC system. For $12 this little tool gives a lot of peace of mind!
Finally, a tip for those who have moved in the past year — most jurisdictions have October voter registration deadline. Visit your County or City website for instructions on registering in your new district!
As always, don’t hesitate to call us if we can help with your real estate needs.
The Wethman Group’s Real Estate News
August 4, 2015 by wethmangroupadmin · Leave a Comment
Greetings!
We are enjoying a very busy summer here at The Wethman Group! We had 24 settlements in June and July and expect to keep the momentum into Fall!
We recently held our annual baseball outing client event at Nationals Park!It was a “balmy” July day but fun was had by all who came out. We want to thank those of you who joined us in cheering on the Nats and look forward to hosting more client events soon!
If you are friends with us onfacebook you may have seen pictures of our new MOVING TRUCK! Moving soon? Picking up new furniture? Need a truck for a charitable event? The truck can be used locally free of charge by both past and current clients as part of our client appreciation program! Please contact us at truck@wethmangroup.com for more information.
In market news, Real Estate Business Intelligence is reporting that the Washington, DC, metro housing market sustained strong sales in June, with the sales at the highest monthly level in nine years and pending sales at the highest June level in a decade. Sales increased 14% over June 2014. Specifically, Arlington County showed the highest June median sales price in the region, while Falls Church had a fairly significant decline. But there are rumblings nationwide about a market shift coming…Call us if you want to discuss market trends!
Realty Trac’s vice President is predicting that now is the time to sell and we agree! We have been reporting that rising home prices, demand from home buyers, and less competition is making 2015 THE year to sell. If you’re thinking of selling this year, contact us so that we can pull together market data now to optimize timing.
Want to know more about buying a home with us? Watch this short video about the home buying process!
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| Buying a Home with the Wethman Group |
We make it our top priority to be abreast of all the latest information available to help you make the best real estate decisions at the right time. Call or email us to discuss your real estate needs.
All Our Best,
The Wethman Group
Northern Virginia Real Estate Market Update
June 25, 2015 by wethmangroupadmin · Leave a Comment
Northern Virginia Real Estate Market Update
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in May 2015, or if you have any questions, just contact us!
Northern Virginia Real Estate Market Update
May 26, 2015 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in April 2015, or if you have any questions, just contact us!
The Wethman Group’s Real Estate News
April 9, 2015 by wethmangroupadmin · Leave a Comment
Greetings!
It may be April Fool’s Day, but this market is no joke! We’ve said it before: List your home early in the year. Buyers have been out for months, and most sellers are still de-cluttering. We had nine successful closings in March and we are looking forward to warmer weather and new listings in April. If you are thinking of listing your home this spring, give us a call. In most neighborhoods the market is hot, but pricing and staging, as always, are critical. Buyers must be ready with pre-approval letters in hand, and waiving contingencies is already common in many hot neighborhoods, particularly in DC.
We enjoyed a great turnout at our February and March first-time home buyer classes, and now we have scheduled classes for April 22nd and May 12. As always, the classes are FREE, but registration is required. Contact us for details.
February saw increases in median sales price and number of transactions for Arlington, Alexandria, Falls Church, and Fairfax over February 2014 numbers. We expect to see similar increases for March and into the Spring. According to the Washington Post , the District’s real estate market is poised to continue its upward trajectory this spring. It’s still a strong sellers’ market with inventory falling short of demand. However, more buyers have greater purchasing power and interest rates are still strongly in their favor.
As we settle into spring it’s important we do someseasonal home maintenance. Click here to view a checklist we created to help you get started. Should you need a referral to a vendor, please give us a call we have many preferred vendors we refer our clients to.
We make it our top priority to be abreast of all the latest information available to help you make the best real estate decisions at the right time. Call or email us to discuss your real estate needs.
Think Spring!
The Wethman Group
Northern Virginia Real Estate Market Update
March 26, 2015 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in February 2015, or if you have any questions, just contact us!
The Wethman Group’s Real Estate News
February 27, 2015 by wethmangroupadmin · Leave a Comment
Greetings! |
We enjoyed a great turnout at our February first-time home buyer class, and now have classes scheduled forMarch 23rd and April 22nd. As always, the classes are FREE, but registration is required. Contact us for details.
Real estate is flying high! The FAA recently approved the use of drones for real estate businesses. One of our home inspectors recently purchased a drone to facilitate roof inspections! Just another way our service providers add value to our clients.
January saw increases in median sales price and number of transactions for Arlington, Alexandria, Falls Church, and Fairfax over January 2014 numbers. We expect to see similar increases YoY for February and into the Spring. Click here for an in-depth report of January market data for the DC area.
Financing is always a big driver in the real estate market, and we are positioned well for Spring. A Mortgage Bankers Association Index shows requirements regarding credit scores, down payments and other key terms are finally loosing up, mostly because of the government’s efforts to ease regulations and improve affordability in the housing market. Interest rates remain low–though are slowly rising. Experts are still predicting rates near 5% by year end, but thanks to the Fed’s recent comments, any increases should be very gradual.
Are you starting your search online? Be sure you’re using the right search sites! Portals like Zillow and Trulia are losing access to some data sources in the next few weeks, making their already unreliable data even more suspect. We recommend mrishomes.com (owned by our local multiple listing service) or our own search site http://search.
We make it our top priority to be abreast of all the latest information available to help you make the best real estate decisions at the right time. Call or email us to discuss your real estate needs.
Think Spring!
The Wethman Group
Northern Virginia Real Estate Market Update
February 24, 2015 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in January 2015, or if you have any questions, just contact us!
The Wethman Group’s Real Estate News
January 30, 2015 by wethmangroupadmin · Leave a Comment
Greetings! |
Spring has come early in the real estate market, and we are off and running with both buyers and sellers! The pipeline of sellers is building, and we have a number of clients across DC, Virginia, and Maryland who are already hard at work prepping their homes for a Spring listing. Who do you know that is thinking of selling this year? Have them contact us for a list of tips on getting your home ready to sell.
We enjoyed a great turnout at our January first-time home buyer class and have already scheduled the next two. They will be held on Sunday, February 22nd andMonday, March 23rd at Arlington Central Library. Feel free to share the registration link with anyone who can benefit from this free resource:http://register.wethmangroup.
Mortgage rates have dropped to levels not seen since mid-2013. Unsurprisingly, the low rates have sparked a frenzy of mortgage activity, especially for refinancing applications. There is no way to know where rates will head next, but the consensus calls for more expensive loans before long.
One negative consequence of a reviving real-estate market is rising tax assessments. Most homeowners have received their new tax bills and some have seen increases of up to 30%. Understandably, this is causing quite an uproar. The process for coming up with these tax valuations is far from perfect, so it’s possible to appeal them. We’ll be happy to provide current market data if you’re thinking about going down that road. Keep in mind that the window for filing an appeal is usually pretty short.
A development that has largely stayed behind the scenes may severely impact one of the most popular real-estate sites. Zillow is set to lose a large portion of its MLS data feed due to a turf war with ListHub. We never recommend using Zillow for any serious home searching because its data accuracy varies widely. This is only bound to get worse. Contact us to find out which sites supply reliable listing data.
Once again, we thank you for thinking of us with all your real estate needs. It’s never too early to get started with your discussions of mortgages and ‘wish lists’ if you’re thinking of purchasing this year. And sellers should definitely be looking at de-cluttering, repairs, and improvements for spring sales–ask us how to make the best use of your time and money.
Think Spring!
The Wethman Group
Northern Virginia Real Estate Market Update
January 26, 2015 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in December 2014, or if you have any questions, just contact us!
The Wethman Group’s Real Estate News
January 2, 2015 by wethmangroupadmin · Leave a Comment
Happy holidays!
Here at the Wethman Group we continue to keep busy–no winter break for us! We have 10 closings on the books for December, and 4 already for January! Thank you for your referrals and support of our business!
Don’t let the winter keep you from considering listing your home. A recent report shows that February is historically the best month to list, even in cold weather cities! We’ve seen this in effect ourselves, with our listings getting multiple bids the past two years in February, when buyers are still out looking but most sellers aren’t quite ready to list yet so competition is low. January, February, and March led the pack as the best months for selling a home in 90 days or sooner, while October and November came in last.
Mortgage rates are on everyone’s minds for the 2015 real estate market, and the prognosis is mixed. The Mortgage Bankers Association is predicting a rise to 5%, but RealtyTrac is predicting a fall. Either way, with the Fed widely expected to raise short term rates in February, we will be in for a volatile mortgage market.
Meanwhile, in local market news, GMU’s Center for Regional Analysis is predicting that pent up demand in our area will push prices ‘slightly higher’ with the exception of the luxury market. 2014 was softer in most categories than expected given the economic strength of 2013. The slowdown in 2014 was linked to lower wage jobs, slower immigration, lower marriage rates, restricted access to credit and student loan debt, among other things.
To help buyers get a jump on their 2015 planning, we’ve scheduled a free first time home buyer class for Sunday January 18 at 7 pm at Arlington Central Library. Register at www.newhomebuyerclass.com
We loved hosting our past clients for a Thanksgiving Pie giveaway and a Movie Day with Santa event in the past few weeks. We look forward to hosting everyone again at an event soon!
The Wethman Group is growing! We’re thrilled to welcome Tim Heil and Kelly Chen Andres as agents with the team. We also have an open staff position: we’re looking for a Business Development & Client Care Coordinator. Know someone who’s passionate about real estate and loves to be on the phone helping people? Send us their info, or have them check out our ad here.
Finally, we’re thrilled that Katie has been been named a“Top Agent” in the Eastern U.S. edition of Top Agent Magazine. Thanks to all of you for supporting us all these years!
If we can be of help to you or your friends and family with real estate needs, please don’t hesitate to reach out.
Happy new year!
Warm regards,
The Wethman Group
Northern Virginia Real Estate Market Update
January 2, 2015 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in November 2014, or if you have any questions, just contact us!
The Wethmangroup’s Real Estate News
November 26, 2014 by wethmangroupadmin · Leave a Comment
Happy Thanksgiving!
The upcoming holiday season has not slowed the market down. The October sales data, published last week, shows a robust, steady market in our region. The decline of 2.8% in closed sales from October 2013 was attributed entirely to the decrease in distressed (foreclosure or short sale) property sales. Regular sales remained flat at last year’s levels while new contracts increased by 1.4%. Inventory lingers at less than half of the peak reached in 2007. Even though it takes longer to get a listing under contract, the days-on-market indicator is still under the 5- and 10-year averages. Every jurisdiction showed price gains, ranging from 1.6% in Arlington County to 14% in Fairfax City. The number of townhomes available for sale rose by 34.8% from last year, the most of any segment, so this could be a good time to shop for this kind of property.
Even though Fall tends to be a slow time in real-estate, our listing on Capitol Hill got 5 offers in 9 days and sold for $70,000 over original asking price. And our Lyon Park listing had over 60 showings in the first week it was on the market! But this is definitely not the case everywhere. In fact, we’ve started seeing a lot of excellent properties that are priced well, but sit on the market. The winter months could turn up some good deals for buyers or investors willing to brave the cold. If you’re curious what’s been on our radar, feel free to reach out to us.
The recent elections could re-shape some local real-estate markets, mostly through altering the course of large-scale public projects. In DC, the soccer stadium at Buzzard Point may get a boost from Mayor-elect Muriel E. Bowser. In Maryland, the still uncertain Purple Line may become even less certain after the surprise win by Larry Hogan. And on the Virginia side, Arlington County just announced that the highly-contested Columbia Pike Streetcar project has been cancelled.
You’ll probably find us repeating ourselves, but it bears repeating: if you plan on selling in early 2015, the time to get ready is now. Yes, you have tons of shopping, driving, cooking, and entertaining to do. But so does everyone else which means almost nobody is getting their house prepared to hit the market. And a lot of serious buyers start shopping as soon as January 1st, checkbooks in hand. The harsh weather last winter delayed many listings, so by the time they finally got online, the buyers had either purchased elsewhere or postponed their plans due to the low inventory. Early bird gets the worm may very well be the mantra this January. To find out what you should be doing pre-listing, just contact us!
Warm regards,
The Wethman Group
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P.S. We have a nationwide network of quality agents–let us know if you or someone you know needs a referral to another city.
Northern Virginia Real Estate Market Update
November 26, 2014 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in October 2014, or if you have any questions, just contact us!
Northern Virginia Real Estate Market Update
October 24, 2014 by wethmangroupadmin · Leave a Comment
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in September 2014, or if you have any questions, just contact us!
Keller Williams Realty