This Month in Real Estate February 2017

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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Just Listed: 3808 N. Pershing Drive Arlington, VA 22203

• Charming Ashton Heights Colonial in Arlington with traditional hardwood floors, curved archways, glass door knob hardware and recessed lighting throughout.
• Inviting living room with brick wood burning Rumsford fireplace.
• Main level den with built-in shelving, window seat, cabinet drawers and dual skylights.
• Separate dining room opens to gourmet kitchen with maple cabinets, ceramic cooktop and stainless steel appliances including a Kitchen Aide convection oven.
• Upper level features Master bed room with hardwood floors, ceiling fan and multiple windows allowing natural sunlight.
• Second bedroom with double closets and hardwood floors.
• Full hall bath complete with beautiful marble floor, counter top, subway tile and chrome fixtures.
• Lower level fully finished family room with newer wall to wall neutral carpet and recessed lighting.
• Third bedroom has dual closets with plenty of storage.
• Full bathroom with granite counter top vanity and ceramic tiled shower.
• Additional features include energy efficient water heater and front loading washing machine, Anderson high efficient replacement windows throughout, front-loading attached one-car garage.
• Gorgeous 5,650 square feet garden lot featuring professional landscaping and a private fully-fenced backyard with wood sundeck and mature trees.
• Around the corner from Ballston/Clarendon/Virginia Square Metro orange line corridor, ART transit, Metrobus stops, bike paths, trails, and neighborhood parks.
• Only 4 ½ miles to Washington DC!

Home in Ashton Heights sell for $500-$1.5M Depending on the size, location and upgrades in the home. This house is listed for $759,999. We worked with the seller to complete minor updates to the home, and recommended that they have it professionally staged. We had over 14 buyer showings scheduled in less than two days on the market.

Contact us for more information or to set up a showing!

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The Wethman Group’s Real Estate News

January 2017

Greetings!

The New Year is off to a quick start in the real estate world.  Is buying or selling a home one of your New Year’s resolutions?  It’s time to get started!  December median home prices in our area were the highest on record, up 4% from last year, but relatively stable since November, up only .08%. Inventories are typically low in the winter months, which is compounding the already very low inventory trend we are seeing in this area. Inventories are still 15% above the all time low in 2012, but below the 5 and 10 year averages.
Buyers are still quite active. We have several clients right now waiting for inventory to hit the market in the next few months to make a move. Buyers and sellers alike may be feeling the pressure to move while interest rates have, perhaps temporarily, leveled off since the increase that began in late October.
I know we have been saying this for months now, but it’s a great time to sell! If you are able to be flexible with your move plans, don’t wait until spring- talk to us about getting ready to go on the market now. Sellers, our experience shows that February is a great time to list – often resulting in multiple offers!
Buyers, get ready for the spring pop in inventory by educating yourself about the home buying process, and getting pre-approved with a lender. We are hosting our popular First Time Home Buyer Class next month, details below and work with some fantastic lenders, so ask us for recommendations based on your goals and circumstances.
We need reviews!  If you’re a past client, don’t forget to leave us a review to be entered into a drawing for two free Caps tickets (they’re doing great, by the way)!
Upcoming First Time Home Buyer Class
Tuesday, February 21st, Capitol City Brewery Register Here
As always, if you or someone you know has a real estate need, we’re here to help.
The Wethman Group
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Under Contract: 700 Blueberry Hill

Buyers are out, and MOTVATED! We ratified another property in McLean, this week.

This home is located in the desirable Merrywood on the Potomac, with the unique benefits of a single family home, that actually has condo ownership.

The comps for this neighborhood range, but are above $1M for most recent sales. The lowest Sale was 706 Blueberry Hill for $982K in 2015. And the highest sale was 1300 Skipworth for $1.75M in 2016

• This home features 5 bedrooms and 4 1/2 bathrooms.
• Inviting foyer entrance and expansive floor plan.
• Separate formal dining room with wood burning fireplace, perfect for large tables and entertaining.
• Gracious living room off kitchen with sunny bay window overlooking the yard.
• Spacious gourmet kitchen with plenty of counter space, breakfast area with balcony and custom pantry.
• Office off of the foyer with custom wet-bar and built-in shelving can also be used as a study or den.
• Enviable master suite with attached full bathroom. dual-entry walk-in closet and additional second closet.
• Three generous sized bedrooms on upper level, with two full bathrooms.
• Lower-level features expansive family room with a fireplace, built-in wet bar for entertaining, additional 5th bedroom /home gym, full bathroom and huge storage room.
• Stunning private backyard with in-ground swimming pool, patio and extensive landscaped gardens.
• Over-sized 2 car garage with plenty of space for additional storage.
• Laundry room/mudroom conveniently located off of kitchen.
• Updates include: newer hot water heater & HVAC, slate roof and large double hung windows.
• This home is part of the section 2 cluster, and is only attached on one side.
• Ideal location minutes to the GW Parkway Chain Bridge Road, Tyson’s, Georgetown and Downtown DC.

This home is listed for $1,199,000.

Email Katie@wethmangroup.com for more information or to to find out the most accurate price for your home!

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Under Contract: 1812 N. Culpeper St. Arlington, VA 22207

We ratified a contract on this beautiful home this week! This home is located in Highview Park, which has an ideal North Arlington location, and is assigned to highly ranked schools, but is still listed under $900K. Other details about this house:

• Totally renovated, 5 Bedroom, 3.5 bath Single Family home in North Arlington with more than 2,700 sq. ft. of living space.
• Two-story foyer and separate living room, office, dining room and family room on the main level.
• Beautiful Bamboo floors and recessed lighting throughout the home and 9 foot ceilings on the main and upper levels.
• Gourmet Kitchen with a center island, granite counter tops, stainless steel appliances, ceramic tile floor and gas cooking range.
• Master bedroom has a walk-in closet and luxury en suite full bath with separate whirlpool soaking tub and shower, double vanity and ceramic tile.
• Upper level has two additional spacious bedrooms and a full bath with ceramic tile.
• Walk-out basement complete with a huge rec room, two bedrooms, full bath and separate laundry/utility room.
• Slate front walkway, private driveway with off-street parking and fully fenced yard with shed.
• Ideally located near Arlington area restaurants, shopping and entertainment with easy commute to Rt. 29, Rt. 50, I-66 and I-395.

Other homes in the immediate area range from $760K-$1.27M, ranging on the size, updates and location. We listed this property for $849K, since it was completely rebuilt and renovated in 2012.

If you’d like more information about your home’s value or the market in your neighborhood, email Katie@wethmangroup.com for more information!

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SOLD: 520 John Carlyle St. #437 Alexandria, VA 22314

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Congrats to our client for selling her loft style, studio in Alexandria!

We listed her home in December, had lots of interest and received a full price offer in less than a week!

Her studio was beautifully update with hardwood floors, high ceilings, gourmet kitchen with granite counter and stainless appliances, two closets and a large bathroom.

Other units in this building have sold for $380K+ for a one bedroom and up to $599K for 2 bedroom unit. We listed and sold this studio for $289,000 with no seller subsidy. Even over the holiday season, we were able to list and sell this unit for a great price for our client!

If you are interested in selling your condo or home, please contact us for a customize price and marketing plan!

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The Wethman Group’s Real Estate News

December  2016

Greetings!
Despite increasing interest rates, November closed home sales reached the highest November level since 2009, up 16.5% over last year and reached the highest median price since 2005. Inventories saw a double-digit decline for the fifth month in a row, to just slightly below the 5 year average, but well below the 10 year average, and 14% lower than this time last year. This shows buyers are still out and active, but have less to choose from. It’s a great time to sell! We expect this low inventory trend to continue through the winter months.
Interest rates have been creeping up steadily since the election, from 3.47% in late October to 4.16% this week. The long-predicted benchmark rate increase by the Federal Reserve was confirmed on Wednesday, December 14th, but has not yet affected home loan rates, which are more closely tied to long-term Treasury bonds. Last year following the only other bump in the benchmark rate in the last 10 years, we saw home loan interest rates drop after an initial increase. However, as Sean Becketti, Freddie Mac chief economist noted to the Washington Post, the uncertainty following the election makes the future hard to predict. “The consensus of the committee points to more rate hikes in 2017. However, the experience of this year combined with the policy uncertainty that accompanies a new Administration suggests a wait-and-see outlook… If rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017.” We don’t have a crystal ball, but our bet aligns with a few experts that interest rates will continue to climb, but the ascent will remain slow and steady for the near future. If you’ve been considering buying in the next few years, please contact us so we can help think through the best strategy and timing for your needs.
Client Appreciation Event: Breakfast Movie Party with Santa
It was so wonderful to see all the clients and their little ones who joined us for Breakfast with Santa and Disney’s Moana. This is quickly becoming our favorite new holiday tradition.
As always, if you or someone you know has a real estate need, we’re here to help.  Wishing you all happy holidays and a bright start to the new year!
The Wethman Group
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520 John Carlyle St. #437 Alexandria, VA 22314

• 4th floor studio in prime Alexandria location overlooking courtyard
• 15ft+ ceilings with loft feel
• Ideal layout with alcove for bedroom
• Updated kitchen with maple cabinets, granite counters and stainless appliances and electric range
• Inviting living area with large picture windows
• Two large closets leading to bathroom, with plenty of storage
• Spacious master bath with granite counter, updated vanity and shower/bath tub combo.
• In-unit stacked washer and dryer
• Three building elevators for use
• 1 assigned underground garage parking spot
• $100/year pool membership available
• Various retail shops on main level of building including a Pho restaurant, dry cleaners, nail salon, on-site post office, etc.
• Beautiful landscaped courtyard
• Starbucks is located across the street.
• Whole Foods Market is just minutes away
• Convenient to Old Town Alexandria, King St Metro and more!

Email Katie@wethmangroup.com for more information or to set up a showing.

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