The Wethman Group’s Real Estate News – April 2018

April 2018

MARKET UPDATE
With taxes on everyone’s mind, we’ve been getting lots of questions about the mortgage interest deduction and how things may change under the new tax laws. For most owners, the majority of their mortgage interest (up to $750,000 worth of debt) is still very valuable. The limitation on State and Local Tax Deductions does temper the effect a bit though. IF you are thinking about buying or selling and want a more detailed discussion of the potential impact on your taxes, contact us to arrange a meeting.
The market in our area in March actually slowed slightly, compared to this time last year. Prices are still increasing (up 3.5% from the March median last year to a March high for the last 10 years), but sales volume, new contracts, and closed contracts all were down in March from this time last year. Active inventory was also down 13% from March last year, making it the 23rd consecutive month of year-over-year declines in inventory.
From what we are seeing with our own clients, demand from buyers is still high, but with less out there to buy, sales numbers are starting to reflect the low inventory.
With the continued emphasis on inventory, if you are thinking about selling, now is the time to start a conversation. Even if you won’t be ready to move until summer, contact us to take photos of the exterior of your house while spring is in full bloom and everything looks beautiful! And let us plan how to utilize coming soon marketing to get buyers interested in your property before you are even ready to move!
 EVENTS
Picnic at the Winery
Clients, join us Saturday, May 12th from 12-4pm as we enjoy a picnic at The Winery at Bull Run. We will have games, foods, and of course, wine! All ages welcome, so bring the kiddos!
Clients, Save the Date:
Sunday, July 8th– Annual Baseball Game- Nats vs. Marlins
2 Upcoming First Time Home Buyer Classes
Our popular First Time Home Buyer class covers deciding to buy, financing, your home search, trends in the local market, and even the implications of the new tax law! If you want a refresher before diving into the Spring market, join us for this free class and send your friends who are thinking of buying!
**TONIGHT** Webinar, Wednesday, April 18th at 7pm
In Person, Tuesday, May 1st at 7pm at Reliable Tavern in DC
 As always, if you or someone you know has a real estate need, please reach out. We are here to help!
The Wethman Group
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JUST LISTED: 3811 Whitman Rd

New on the market: our stunning listing at 3811 Whitman Rd in Annandale, VA! This home is located in the desirable Winterset neighborhood and has been meticulously maintained.

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This home features 4 bedrooms, 3.5 bath colonial home with one car carport.
-Beautifully renovated home in the wonderful Winterset community!
-Gleaming hardwoods on main and upper levels.
-Remodeled kitchen with beveled-edge granite counters, stainless steel appliances, cherry cabinets w/ pullouts & soft catch doors
-Cozy family room with remote controlled gas fireplace and a brick accent wall
-4 bedrooms on upper level including the master suite with a remodeled master bathroom showcasing a new tile shower, rainfall showerhead, new vanity & Delta touch faucets!
-Exercise room on lower level along with a large storage room equipped with workbenches and ample builtin shelving
-Lower level fully equipped with a projector & screen, wet bar with a mini-fridge; even connect the recessed smart lighting to your Amazon Echo!
-Fully-fenced private backyard with a six-foot fence and a gas fire pit

Homes in Winterset have sold from mid $600K’s up to $850K depending on the size, location and upgrades. The most recent sale sold for $850K, but had been completely gutted top to bottom, and was essentially a brand new home.

3811 Whitman Rd is listed for $750,000.

Email admin@wethmangroup.com for a private showing or more information.

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Just Listed: 9907 Natick Rd

Excited to share this lovely new home in Burke Centre! New on the market this week, 9907 Natick Rd is a well maintained four bedrooms, 3.5 bath single family home in the sought after Woods cluster. Open House will be held on Sunday 4/15 from 2-4pm!

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This stately home offers over 2600 sq ft of living space on the main & upper level.
Formal living and dining rooms with crown molding and plenty of natural light!
Updated kitchen with granite counters, newer appliances & cabinets. Island, and additional cabinets and built-ins for extra storage space.
Separate laundry/mud room off kitchen with quick access to the backyard.
Inviting family room off kitchen with huge brick fireplace and sliding glass doors to deck and fenced yard.
The upper level features four spacious bedrooms and two full bathrooms.
Serene master bedroom with walk-in closet, and separate sitting area, that can also be made into a 5th bedroom. Ensuite master bath with two updated vanities and shower/tub combo. Spacious bedrooms with ample closet space!
Lower level features fully finished basement with rec reaction/media area, bonus craft/hobby room, full bathroom with standing shower and storage and utility room.
Relaxing patio with treed view and low maintenance yard!
This home has been impeccably maintained, and is move-in ready!


Community Amenities:
Ideal location in the “Woods” cluster of Burke Centre. Access to jog/walking paths, tot lots, and community pools.
Minutes to nearby shopping restaurants and retail.
Ideal for commuters! Just minutes to the VRE train to downtown DC, with bus stops to the Pentagon Metro and a short distance to 495 and Fairfax County Parkway!

Homes in Burke Centre vary in price fro, $400K-$750K depending on the size, location and upgrades. The “Woods” is the newest cluster in Burke Centre, and the homes in this section are larger, and on bigger lots. Homes off Natick Rd had recently sold for $600-$699K. Ones on the lower end had had unfinished basements and less updates. 9907 Natick Rd is listed for $675K.

Contact us for a private showing!

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The Wethman Group’s Real Estate News – March 2018

March 2018

MARKET UPDATE
Your housing search this spring may seem like it requires a pot of gold! The February median price reached the highest in a decade, interest rates are still climbing, and inventory is holding low. While this sounds grim, these are all just trends of the averages over time. Historically interest rates are still low, and our buyers that are ready to compete are still walking away with their house of choice! We are beginning to see the expected seasonal increase in inventory (new listings up 25% from last month), but of those that come on the market, a larger percentage are finding contracts, making February Active Listings down 13% from February of last year. This is the 22nd consecutive month of year-over-year decline in active listings.
Closed sales and pending contracts remained flat against February last year again this month, meaning buyers are biting on a bigger percentage of homes on the market right now to make up for the lack of inventory. Buyers, let us help you gear up to move on YOUR house when it hits the market. Having your financing and game plan ready is essential this year.
 If you have been thinking about selling, now is the time. Every year buyers come out before the sellers, and the inventory this year is particularly lacking. Contact us now, to talk about how to make your property shine in this early spring market, or how to utilize coming soon marketing to get buyers interested in your property before you are even ready to move! We have sellers now with a summer move timeline, already gearing up to hit the market.
UPCOMING EVENTS
WG Perks Escape Room Event
This past Sunday our team, clients, and friends hit Escape Room Live Georgetown for some puzzle solving fun! Teams beat rooms themed Runaway Subway, Titanic, The Mummy, and Ghostbusters (alas the action in the rooms was too intense for photos). We are proud to report that ALL groups ESCAPED! Special thanks to our sponsors Vince Coyle Team at MVB Mortgage and Steve Milwicz at Atlantic Insurance Group.
Clients, Save the Date- Future Client Appreciation Events:
Saturday, May 12th– Picnic and Wine Tasting at The Winery at Bull Run
Sunday, July 8th– Annual Baseball Game- Nats vs. Marlins
First Time Home Buyer Webinar: THIS WEDNESDAY
We are taking out popular First Time Home Buyer Classes online, hosting a webinar Wednesday, March 21st at 7pm. The class covers deciding to buy, financing, your home search, and trends in the local market, among other topics. If you want a refresher before diving into the Spring market, join us for this free class! Feel free to send your friends who are thinking about buying this year, too. Register here for details.
 Welcome Alli Collier to the Wethman Group Team
We are excited to introduce you to our latest team member: Alli Collier. Alli joins the Wethman Group from a background in Public Relations and a former staffer for the US Senate. She is licensed in DC and Virginia and excited to help our buyers find the home of their dreams. When not scoping out the latest houses to hit the market, Alli spends her time outdoors, hiking, biking, or prepping for her next race.
As always, if you or someone you know has a real estate need, please reach out. We are here to help!
The Wethman Group
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JUST LISTED & OPEN HOUSE! 414 Queen S, Alexandria VA

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We’re excited to share our newest listing in Old Town Alexandria! This home is just two minutes to King St and to the waterfront and with historic charm and modern updates. We’ll be holding it open this Sunday 3/25 from 1-3pm.

Check out details below:
-Historic 3BR, 1.5BA end unit townhome! Quiet location on Queen St.
-Open floor-plan on main level, with formal living room with built-ins, and dining area.
-Gleaming original hardwood floors on main and upper level. Renovated kitchen with granite counters, new cabinets, flooring, and stainless steel appliances.
-Three bedrooms on upper level with ceiling fans and lots of natural light. Upper bath with updated tile flooring, new vanity, fresh paint & modern light fixture.
-Basement storage area, with trap door access behind main level stairs. Elfa shelving conveys!
-Outdoor HVAC unit replaced in 2014, compressor inside basement replaced in 2005. Roof replaced in 2002, hot water heater replaced in 2016.
-Ideal location in Old Town: 2 blocks to King St and waterfront, with plenty of parks, restaurants and shopping! Famers Market & Old Town Square, right around the corner. Mins to metro (King St or Braddock), with a nearby bus route. Nearby grocery stores: Harris Teeter, Trader Joes, Whole Foods and Giant. Perfect for commuters: quick access to Downtown DC, Crystal City, The Pentagon and National Harbor.
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Home sales in Old Town range depending on size, updates and most importantly location! Properties that are historic and closer to King St and the waterfront demand a premium, compared to homes closer to Route 1, and north and south of King St.
Home values have ranged from $599-$899K, with the lower end having 800+/- sq ft and the larger homes having full 3 levels and over 1800 sq ft of living space.

Our home at 414 Queen St is listed for $749,900.

Email admin@wethmangroup.com for a private showing or more information.

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JUST LISTED: 1414 Belmont Rd NW #102 Washington DC

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The spring market is here, and we’re excited about our newest listing in DC! This modern condo is located at 1414 Belmont Rd N at the Solea in bustling Columbia Height neighborhood.

Details on the unit:
A spacious studio that lives like a one bedroom!
The unit features 670 sq feet of living space, 12 ft ceilings, gleaming wide plank, bamboo hardwood floors and fresh paint throughout.
Ideal layout with plenty of space for a bedroom and living area.
Updated kitchen with granite countertops and newer cabinets.
Spacious foyer perfect for an office nook.
Walk-in closet with custom shelving.
Expansive bathroom with large vanity, shower/tub, and tiled floor. Stacked washer and dryer in unit.
The front door opens to a private and secured courtyard with outdoor furniture.
Reserved parking spot, just steps from your front door.
The building was built in 2008, is pet-friendly, and offers a low condo fee.
Ideal location, just 1 Block to Meridian Hill Park- 4 blocks to Metro- Mins to 14th St, U St, and Columbia Heights!
Plenty of retail & restaurants nearby: Busboys & Poets Kapnos, Provision no 14, Marvin, Policy and more!

This unit is unique because it’s almost twice the size of other studios and features convenient access right off the private courtyard. Other studios in the building have sold for $280K-$330K, depending on their size and updated. One bedroom units in the building have sold for $390K-$420K, depending on their size and amenities.

This unit is being listed for $389,900. Please contact us for a private showing!

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The Wethman Group’s Real Estate News – February 2018

February 2018

MARKET UPDATE

The groundhog may have seen his shadow, but in the real estate market Spring is coming early! While working with our buyer clients, we are seeing bustling open houses around the DC Metro area and crowded showing appointments. Driving some of the clustering at listings is near historically low inventory levels. January saw the 21st consecutive month of decline in year-over-year inventories and active listings are down 15% from January last year.

Median price in our area reached the highest median January price in a decade ($399,900), though we saw a seasonal dip of 5% from the median sales price in December. Closed sales and pending contracts remained flat, meaning buyers are biting on a bigger percentage of homes on the market right now to make up for the lack of inventory. Buyers, let us help you gear up to move on YOUR house when it hits the market. Having your financing and game plan ready is essential this year.

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If you have been thinking about selling, now is the time. Every year buyers come out before the sellers, and the inventory this year is particularly lacking. Contact us now, to talk about how to make your property shine in this early spring market, or how to utilize coming soon marketing to get buyers interested in your property before you are even ready to move!



UPCOMING EVENTS

unnamedWG Perks Escape Room Event

We are hosting our first Client Appreciation Event of the year, Sunday, March 11th at DC’s top-rated escape room experience. We’ll solve puzzles to escape from rooms with themes like Friday the 13th and Runaway Subway, and save some time to mingle after. Clients should have received your invite last week. Contact us if you haven’t. RSVP soon (and no later than March 1)! Space is limited and available on a first-come, first-served basis. Special thanks to our sponsors Vince Coyle Team at MVB Mortgage and Steve Milwicz at Atlantic Insurance Group.

 

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First Time Home Buyer Webinar

We are taking out popular First Time Home Buyer Classes online, hosting a webinar Wednesday, February 21st at 7pm. The class covers deciding to buy, financing, your home search, and trends in the local market, among other topics. If you want a refresher before diving into the Spring market, join us for this free class! Feel free to send your friends who are thinking about buying this year, too. Register here for details.


As always, if you or someone you know has a real estate need, please reach out. We are here to help!

The Wethman Group

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