This Month in Real Estate June 2016

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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Active and Under Contract -2970 Birch Creek Ct

We’ve had a very busy week! The rain has finally stopped and buyers are out looking everywhere!

We were thrilled to help our clients list their home at 2970 Birch Creek Ct! This house was absolutely stunning, and updated top to bottom. We couldn’t wait for buyers to come through and see for themselves.

The owners handled all of the renovations themselves, and all the items from hardwood floors to expanded kitchen, custom fireplace, luxury master bath, sleek basement and manicured lawn were finished beautifully. We advised them on staging as needed, and other tips to help show the home in the best possible light.

The house features 3 bedrooms, 3.5 bathrooms, and had a walk out basement to a relaxing patio, deck and common area view. The kitchen, master suite and bathroom alone, sold the house!

We had over 26+ showings in 3 days, received 4 offers and went under contract, in less then 4 days with very strong terms! We listed the home for $359K, and received contracts over the list price.

This home is located in Wayside Village, in Dumfries, VA. Home of this size range in price from $280K-400K depending on total square feet, upgrades, walkout basement, garage etc.

Contact us, on how to get top dollar for you home!

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Active and Under Contract- 21 Kennedy St

We were very excited to list this wonderful townhouse in Warwick Village last week! We worked closely with the sellers to recommend cost effective repairs and upgrades, and worked with a stager to help maximize the space in the house!

21 Kennedy St, is a 3 level townhouse in Alexandria, just minutes from the “The Avenue” in Del Ray. The house features 3 bedrooms, 1.5 bathrooms, a refreshed kitchen, open and inviting living areas, and spacious rec room on the lower level. The house also walks out to a relaxing back patio/fenced yard, backing to trees.

The townhouse had gleaming hardwood floors on the main and upper level, and neutral carpet in the basement.

The house also included extensive updates! The infrastructure of this home has been updated with a newer energy saver roof, attic fan that senses heat and humidity, SS chimney liner, boiler, programmable thermostats for the boiler and AC, water heater, electrical panel with surge protector, gutters with gutter guards and large downspouts as well as updated brushed nickel lighting and hardware throughout. The home also features all new fiberglass double-pane low-e casement windows with a lifetime warranty. In addition, there is a home automation system; which includes mobile device controlled security cameras, door and window sensors, leak detectors, smoke/carbon monoxide detectors as well as remote / mobile device controlled lights.

Prime location! Amenities in Warwick Village include a children’s playground, dog park and a city pool. Popular Mt. Vernon Avenue shops, restaurants and farmer’s market are just a short walk away! Located just over a mile to Braddock Road metro; Potomac Yard metro station planned for 2018. Metro and DASH bus stop at Kennedy Street and Mt. Vernon Avenue. Ronald Reagan National Airport is 2 miles away.

We listed this home for $499K, and received over 35+ showings and received two offers in the first 5 days.

Properties in this area range from $470-$550K, depending on the size, upgrades and proximity to “The Avenue”.

Contact us today, for more information about this listing, or the best upgrades to maximize your home sale!

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SOLD- 212 T St NE #1 Washington, DC

Congrats to our client, Damon for selling his investment property in DC! This property have over 39 showings in 4 days and received 5 offers in total, all offering 10k+ above list price at a minimum. Several offers even waived Home Inspection and appraisal contingencies.

This was a beautiful 2 bedroom, 1 bath, garden style condo in Eckington. Properties in this area range in price, and where from $250K up to $450K. The prices are reflected in the size and amount of upgrades in each unit.

Those most comparable properties were two bedroom units, ranging from $336-$450K. Some boast more square feet, and more updated kitchen and bathrooms compared to the subject, but should help substantiate a $320K list price.
Additionally, we sold unit 4 in the same building late last summer, when the market was slower and also received multiple offers over $310K for a very similar layout. The market is much more active now, and demand is higher. We initially listed our unit at $289K, with a reasonably updated kitchen (granite counters, newer cabinets, stainless appliances) and hardwood floors throughout. The unit also had two brick accent walls, and a bay window.
We close at $320K, and $1500 in seller subsidy.
Contact us today to help get top dollar for your home.

 

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The Wethman Group’s Real Estate News

May 2016

Greetings!

It’s been a notably soggy May so far, but the rain hasn’t dampened the housing market! On paper, prices, closed sales, and contracts all continued to climb in April to highest levels in a decade, but practically speaking, prices are still holding fairly steady in most areas. Inventory is still low, so if you are thinking of selling it’s a great time to list! DC jumped up in the ranks (from 6th to 4th) as one of the most expensive rental markets in the US. And interest rates reached a three-year low last week, meaning buyers can afford to borrow more. High rent prices and low interest rates continue to make buying an attractive option, so despite rumbling of a potential market slow down, we aren’t seeing much evidence here. The Post noted a trend that high prices in the district and close-in markets are pushing some buyers to consider surrounding areas. Indeed we are noticing a good deal of variability between neighborhoods. We are still seeing bidding wars in a few areas, while others have leveled out. Regardless, we advise our buyers to be prepared with financing and flexibility. With some added complexity as we enter the height of the spring market, do reach out with any questions about how to structure your search. We’d love to help you come up with a strategic plan or introduce areas and options you may not have considered.
The Wethman Group hosted some amazing clients and friends at Gold Cup on May 7th. The rain took a break long enough for us to see some races, play cornhole and black jack, and enjoy some mint juleps. Everyone really stepped it up this year- so many great hats and colorful suits!
Next month we are headed to the ballpark! Clients keep an eye out for your invite to join us as we watch the Nationals take on the Phillies, Sunday, June 12th.
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
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SOLD- 8613 Victoria Rd

8613 Victoria Rd Springfield-MLS_Size-002-55-Exterior Front-2048x1536-72dpiCongrats to our clients who sold their parents home in Kings Park! The single family home, has four bedrooms, formal living and dining room, spacious back yard, screened in porch, and large basement ( rec room) with a built in bar. This property was part of an estate sale, was clean, but not updated compared to higher priced homes in the neighborhood. This home had 1590 square feet on the main and upper level and an additional 248 sq ft on the lower level. This “Queen” model home is one of the sought after floor plans in Kings Park.

Sales in Kings Park ranged from $350K-$659K, depending on size, lot and upgrades in the property. The lowest sale was damaged by fire, and sold in “As Is”Condition. The highest sale was $659K and completely renovated top to bottom. This property sold for $462K, with $15,500 in closing cost help.

Their are specific details to consider when selling an estate, to include all the heirs, execute of a will, any power of attorneys and any necessary updates to get the house ready for sale. The process of selling an estate can be overwhelming, but we can help you streamline the process and handle all the details, whether you are local or out of state!

Contact us for any selling or estate specific questions!

 

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The Wethman Group’s Real Estate News

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
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Just Listed 15602 Habitat Ct

We just listed this stunning home in Cardinal Grove neighborhood of Woodbridge. This is a newly constructed community, and the house is less than a year old. This home offers all the amenities of new construction, without the additional cost of upgrades or the wait time!

Stunning brick front home, on quiet cul-de-sac! This home was built in 2015, and is less than a year old. The home features updates throughout, as well as an open concept floor plan! Enter through the two story foyer with gleaming hardwood floors, 9ft+ ceilings, and recessed lights throughout. Inviting stone fireplace in family room is the perfect place to relax and entertain. The family room opens to the gourmet kitchen with a large center island and breakfast bar. The kitchen features stainless steel appliances, custom tile back splash, under cabinet lighting, glass cabinets, walk-in pantry and attached breakfast room. There is an additional dining room, living room and main level bedroom or office. Custom iron work on the stairs to the upper level. Luxurious Master Suite featuring a tray ceiling, separate sitting area and double walk-in closets. Spa-like Master Bath has jetted soaking tub, separate walk-in shower, ceramic tiles and dual sink vanities. The upper level also features, three bedrooms, one full bath and laundry room. Entertain or relax in your lower level retreat with custom wet-bar and theater room. The 6th bedroom on the lower level has an attached full bathroom with ceramic tile. There is a double door walk-up from the basement to the yard. Open and private backyard with custom trek deck. Other amenities include high efficiency systems, builder warranty and Guardian Security system. This home has all the updates you are looking for, with over 5000 square feet of living space!

This home is listed for $699K, and has all the upgrades included. Contact us today for a private showing.

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