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.

Reasons to Sell During the Holidays!

January 7, 2016 by · 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

November 17, 2015 by · Leave a Comment 

Greetings!

Fall is in full swing and we are enjoying all the changes that come with the season. We have continued to stay busy here at the Wethman Group with 15 settlements in September and October! We hosted several First Time Home Buyer Classes and were proud to sponsor the JMU Metro Dukes Crab Fest.
 
We have two big client appreciation events coming up in the next few weeks so all our clients should look out forinvitations to Thanksgiving Pie Giveaway and Breakfast with Santa at the Movies — contact us if you haven’t received your invite!
 
Market & Lending Conditions
Nationally, it was a rather ordinary month for the  residential housing market in October, based on a preliminary analysis of realtor.com® data. “October saw little change in the for-sale housing market other than the typical seasonal decline in demand and inventory,” said Jonathan Smoke, chief economist.
 
But in our local market, we’re seeing inventory creep up and sales drop, and expect that to continue into November and December.  This may be a good opportunity for buyers!  Buyers are anxious about apotential Fed rate hike in December, and if mortgage rates go up, that will continue to cool our high-priced local market, especially. In other mortgage news, FHA recently announced changes to its notoriously difficult condo approval process, which should help provide additional financing options to condo buyers very soon.
 
Fall Maintenance
Before the weather grows colder it’s important to prepare for the winter months to prevent costly damage. Email or call your agent if you need a copy of our Fall Maintenance Checklist.
 
We’re so grateful for our clients, friends and supporters this season of Thanksgiving and all year long.  As always, don’t hesitate to call us if we can help with your real estate needs.
 
 Warm regards,
The Wethman Group

The Wethman Group’s Real Estate News

October 6, 2015 by · 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…

Market Conditions
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.

Storm Preparedness
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!

Voter Registration Deadline
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.

Stay dry!
The Wethman Group

The Wethman Group’s Real Estate News

August 4, 2015 by · 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 on facebook 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.

In mortgage news, the Consumer Financial Protection Bureau is planning to address problems that surfaced during the meltdown of the housing market when millions of buyers took on complicated loan products they didn’t understand and ended up losing their homes in short sales or foreclosure. (Better late than never??) Some experts feel this will slow the loan process and may cause some hiccups initially. These changes are tentatively scheduled for August 1st. If you are thinking about buying in the next six months you should give us a call now so we can explain how this could effect the lending process for you.

Want to know more about buying a home with us?  Watch this short video about the home buying process!

Buying a Home with the Wethman Group
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 · 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 May 2015, or if you have any questions, just contact us!

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 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.

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!

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