The Wethman Group’s Real Estate News

Greetings!

We’re off to the races! And we’re not just talking about the Spring market (though that definitely feels like a race right now too!)  The Wethman Group is literally headed to the races at Gold Cup with clients and friends at our Client Appreciation Event this weekend. If you are going to the races also please stop by Tent #124 and enjoy a cocktail with our team–we’d love to see you. Clients, if you haven’t received your invite, please contact us asap!

 

We had 14 successful closings in April and we are looking forward to warmer weather and new listings in May! We have new listings across the entire DMV area, including a great 4BR condo in Alexandria, a 2BR single family home in North Arlington, a single family home in Potomac, and a townhouse in Fairfax. If you are thinking of listing your home this spring, give us a call. We are still seeing multiple offers when homes are priced properly.  For buyers looking in hot neighborhoods, properties are moving fast, so this means you need to have your lender lined up, your documents ready to go, and your checkbook in hand. If you like a property, you need to move fast or someone else will.

 

Buyers, we continue to offer our free first time home buyer classes, with the next session scheduled for Tuesday, May 12th at 7:00 pm.  You can register athttp://register.wethmangroup.com  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

 

Summer is just around the corner and we are planning our next Client Appreciation Event: A Day at the Nationals Stadium with the Wethman Group. The game we are attending this year is Sunday July 19th against the Los Angeles Dodgers, so clients, please mark your calendars and stay tuned for more details.  As always, our Client events are free!  It’s one of the ways we say Thank You for your business!

 

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

Share

North Arlington (Orange Line) Condo Update: March 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  April 16, 2015
Average List Price

$301,262

$500,984

Number of Active Listings

53

60

Average Property DOM(P) – Actives

67

56

SOLD LISTINGS for March 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$338,283

$537,096

Number of Sold Listings in Previous Month

19

23

Average Property DOM(P) – Solds

59

19

Share

The Wethman Group’s Real Estate News

Greetings!

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

 

Share

Sold: 14322 Climbing Rose Way #106

We are excited to announce the sale of this property, not only because it was nicely updated and received offers shortly after going on the market, but also that it is the highest sale for the community in the past 12 months!

The average sales price for a 2 bedroom, 2 bath condo in the Sanderling community was $218K, and our sale of unit #106 sold for $229,500 ( with $5000 in seller subsidy), a net sales price of $224,500. Almost $7000 higher than the average sales for the entire last year!

This unit was nicely updated with gleaming pecan floors, granite in the kitchen with updated appliances and granite in both bathrooms!

We are proud for an opportunity to help increase property values in this neighborhood for other home owners.

Share

North Arlington (Orange Line) Condo Update: February 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  March 12, 2015
Average List Price

$286,838

$501,973

Number of Active Listings

45

48

Average Property DOM(P) – Actives

83

63

SOLD LISTINGS for February 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$296,900

$490,679

Number of Sold Listings in Previous Month

14

15

Average Property DOM(P) – Solds

65

48

Share

The Wethman Group’s Real Estate News

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

Share