Katie Wethman’s Real Estate News

November 28, 2016 by · Leave a Comment 

November  2016

Greetings!

The election over and everyone around the world is asking “Now what happens?”  That’s too big a question for purposes of this little real estate newsletter but here’s what we know so far as it relates to real estate. The markets are still digesting their ‘best guesses’, but so far the 10 year bond market has spiked, and most mortgage pricing is tied to that (not the 30 year, as some might assume). This means higher interest rates for now. It is too soon to tell if it’s the start of a trend, or a blip.  We’ve known for some time that rates couldn’t stay that low forever though, so my money is on ‘trend.’

Higher rates are likely to slow the growth in home prices, but that’s a double edged sword. Prices down + interest rates up = still unaffordable for buyers in our area.  Plus, sellers will be less willing to sell ‘at a loss’ meaning inventory could well go down.  SMR Research Corp, a mortgage research firm, estimates that rising rates will contribute to a decline in price for 1/3 of US homes by the end of 2017.

Most experts expect a rolling back of financial regulations put in place after the last housing crash, which will be a welcome change to Wall Street.  New regulations made lenders very risk averse, so this could open up looser borrowing qualifications-good for some buyers, but not without long term risk to the market.

The big wildcards still out there are GDP growth, inflation, job growth, and consumer confidence.  We’ll be keeping an eye on those.

Obviously these are uncertain times, and the market could shift quickly.  If you’re thinking of buying or selling in the next two years, please contact us so we can help think through the best strategy and timing for your needs.

Pie Day

We loved having the chance to connect with clients and friends just before the holiday for our annual pie day. Thanks to those who stopped by!

If you weren’t able to make it you have another chance to get together for our Movie Party in December.
Client Appreciation Event: Breakfast Movie Party with Santa

December 3rd, at 10 AM we are hosting a Breakfast Movie Party with Santa at the Tysons AMC Theaters. Join us for breakfast, prizes, and a screening of Disney’s Moana.

As always, if you or someone you know has a real estate need, we’re always here to help.

The Wethman Group

 

 

This Month in Real Estate November 2016

November 16, 2016 by · 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.

This Month in Real Estate October 2016

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Here are just a few of the national real estate numbers we are tracking for you now. For more info contact us.

This Month in Real Estate September 2016

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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

September 5, 2016 by · Leave a Comment 

August  2016

Greetings!

This month, the DC housing market saw a new record, the lowest inventory since 2009! Prices were up from this time last year, but down slightly from last month. Sellers, it’s a good time to talk about listing. If you are thinking about getting on the market, but worried about the season, don’t be. There are a lot of interested buyers still looking that aren’t tied to the school year. With inventory and interest rates this low it’s a good time to list. If you are interested in learning more about the market from the seller’s perspective, how to think about improvements, staging and marketing, and how to buy a new place while selling your current house, join us for our Seller Class
at the Shirlington Library on Tuesday, September 13th. If you can’t make that date, I’m always happy to answer your questions one-on-one, just reach out.
For those considering buying, rent in the District continues to rise double the national average. Interest rates are low, but still projected to rise by the end of the year.

Did you know we provide FREE educational seminars on home buying and selling to offices, alumni associations, community groups, and others. Attendees love these!  If you know a group who might benefit, let us know, we’d love to set something up.

If we can help you or someone you know with your real estate needs, please do reach out. We always love to hear from you!
The Wethman Group

This Month in Real Estate August 2016

August 16, 2016 by · 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

July 29, 2016 by · Leave a Comment 

July  2016

Greetings!
July is hot, and so is the Wethman Group!  We are thrilled to be named to the list of Washingtonian’s Best Realtors in the DC area for the 2nd year in a row! Thanks to all of our past clients and friends who continue to support us and make us great. We’re honored!
June numbers show the market is as hot as the temperatures outside! Sales reached the highest point since 2009, and the median sales price for the DC area reached an all-time high. But the overall median sales price skews the story. Some pricier neighborhoods like Georgetown and Adams Morgan saw a fairly large decrease in median price last month compared with this time last year. This is a trend we have been seeing for the last several months. Buyers are active, the volume of sales closing are up, but there is still flexibility in price in some neighborhoods and on certain listings. A recent list of DC’s most and least expensive neighborhoods, is both interesting and somewhat shocking (Dupont in most affordable?), but this type of analysis isn’t comparing apples to apples (Dupont makes the list because of the number of smaller apartments and condos for sale). The Washington Post just named 3 new neighborhoods that are heating up.  Deciding where to buy can be a complex decision, especially with the market as interesting as this one. When you are weighing your options, reach out for a quick chat on what we are seeing in the neighborhoods you are considering.
One thing is certain, following Brexit, we are seeing near record low interest rates! If you are consideringrefinancing, reach out- we can recommend several great local lenders to work with to get the best rates. Another constant – inventory is low and continues to decline. Sellers, it is still a great time to get on the market! Let us walk you through a timeline that makes sense for you and our plan to maximize your return on investment.

Did you know we provide FREE educational seminars on home buying and selling to offices, alumni associations, community groups, and others. Attendees love these!  If you know a group who might benefit, let us know, we’d love to set something up.

Stay cool out there and beat the heat with this map of every pool in the district!
If we can help you or someone you know with your real estate needs, please do reach out. We always love to hear from you!
The Wethman Group

This Month in Real Estate June 2016

June 16, 2016 by · 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 26, 2016 by · Leave a Comment 

April 2016

Greetings!
April Fool’s Day may have passed, but this market is also 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 five successful closings in March and we are looking forward to warmer weather and new listings in April and May. If you are thinking of listing your home this spring, give us a call. In most neighborhoods the inventory is still low, and well priced homes are going fast, but reviews are mixed on how the market is doing.  While we’ve seen bidding wars in some neighborhoods and at certain price points (particularly moderately priced single family homes), but rapidly growing inventory in other segments, like condos.  Our local MLS reported that inventory was up a whopping 20% in March 2016 vs March of last year–the highest level of March inventory since 2007.  Typically April inventory spikes even higher.  We’re still below 2.5 months of inventory, but that’s no consolation that sellers that haven’t priced well and are wondering why they have no offers.  Across the nation, there are rumblings of a slow down in the market–could it actually come our way this time??
We’re off to the races again this year! The Wethman Group is literally headed to the races at Gold Cup with clients and friends at our Client Appreciation EventSaturday, May 7th. If you are going to the races also please stop by Tent #124 (North) and enjoy a cocktail with our team–we’d love to see you.  We’ll also have some cornhole, friendly wagers and raffles to keep the action going between races.  Clients, if you haven’t received your invite, please contact us asap!
As we settle into spring it’s important we do some seasonal 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.
Have you or someone you know always thought about a career in real estate?  The first step is taking the class to be eligible to sit for the licensing exam.  Katie will be teaching a real estate pre-licensing class startingSaturday, April 30 and going for 4 weeks. You can sign up here.  (There are lots of other classes out there…contact us if you have questions or want additional information!)
As always, don’t hesitate to call us if we can help with your real estate needs.
The Wethman Group

This Month in Real Estate February 2016

February 15, 2016 by · 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.

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