Northern Virginia Real Estate Market Update

May 26, 2015 by · 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 · Leave a Comment 

Greeting!

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 maintenanceClick 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 · 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 · Leave a Comment 

Greetings!

While the weather gives no indication spring is near, the increase of real estate activity in our office assures us it will come soon! The Wethman Group has TEN new listings coming to market in the next two months! Buyers have been frustrated with the weather and the lack of inventory, but hang in there–it’s coming!  In the meantime, we’re grateful for your referrals and looking forward to helping our 9 clients currently under contract and due to close in March!

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.wethmangroup.com.  Mobile app HomeSnap, also offered by our local MLS, has some cool features and our own FREE app can be downloaded at http://app.kw.com/kw2k5iwj1 for searching on the go.

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 · 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 · 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.com

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 · 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 · 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

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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

January 2, 2015 by · 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!

Breakfast at the Movies with the Wethman Group

December 15, 2014 by · Leave a Comment 

Recently the Wethman Group teamed up with some fellow Keller Williams agents in the McLean office to host a “Breakfast at the Movies” client event. Our guests enjoyed a free and private viewing of “The Penguins of Madagascar” at Tysons AMC, along with prizes, food and pictures with Santa. Fun was had by all and we look forward to hosting again next year. Here are a few pictures of the festivities:

 

"Stansfield Xmas Movie"

Our clients getting settled before the movie starts.

"Stansfield Xmas Movie"

Keller Williams Agents enjoying some Santa time.

Happy Holidays and remember to contact The Wethman Group for your real estate needs in 2015!

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