The Wethman Group’s Real Estate News

Happy holidays!

Here at the Wethman Group we continue to keep busy–no winter break for us! We have 10 closings on the books for December, and 4 already for January!  Thank you for your referrals and support of our business!

Don’t let the winter keep you from considering listing your home.  A recent report shows that February is historically the best month to list, even in cold weather cities!  We’ve seen this in effect ourselves, with our listings getting multiple bids the past two years in February, when buyers are still out looking but most sellers aren’t quite ready to list yet so competition is low.  January, February, and March led the pack as the best months for selling a home in 90 days or sooner, while October and November  came in last.

Mortgage rates are on everyone’s minds for the 2015 real estate market, and the prognosis is mixed.  The Mortgage Bankers Association is predicting a rise to 5%, but RealtyTrac is predicting a fall.  Either way, with the Fed widely expected to raise short term rates in February, we will be in for a volatile mortgage market.

Meanwhile, in local market news, GMU’s Center for Regional Analysis is predicting that pent up demand in our area will push prices ‘slightly higher’ with the exception of the luxury market. 2014 was softer in most categories than expected given the economic strength of 2013.  The slowdown in 2014 was linked to lower wage jobs, slower immigration, lower marriage rates, restricted access to credit and student loan debt, among other things.

To help buyers get a jump on their 2015 planning, we’ve scheduled a free first time home buyer class for Sunday January 18 at 7 pm at Arlington Central Library.  Register

We loved hosting our past clients for a Thanksgiving Pie giveaway and a Movie Day with Santa event in the past few weeks.  We look forward to hosting everyone again at an event soon!

The Wethman Group is growing!  We’re thrilled to welcome Tim Heil and Kelly Chen Andres as agents with the team.  We also have an open staff position: we’re looking for a Business Development & Client Care Coordinator. Know someone who’s passionate about real estate and loves to be on the phone helping people?  Send us their info, or have them check out our ad here.

Finally, we’re thrilled that Katie has been been named a“Top Agent” in the Eastern U.S. edition of Top Agent Magazine.  Thanks to all of you for supporting us all these years!

If we can be of help to you or your friends and family with real estate needs, please don’t hesitate to reach out.

Happy new year!

Warm regards,

The Wethman Group

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P.S. We have a nationwide network of quality agents–let us know if you or someone you know needs a referral to another city.

Sold: 9201 Sudbury Rd

9201 Sudbury Rd was was listed and under contract within a week!

This stately three level, brick home on quiet tree lined Highland View neighborhood. The home is located on corner “lot and a half”, and features four bedrooms, two and half bathrooms with over 2000+ square feet of living space on all three levels. Open and inviting floor plan, with newly refinished hardwood floors and fresh paint throughout. Living room with fireplace, and built in bookshelves. Step up to elegant dining room with plenty of space for larger table, and view out to back yard.Gleaming hardwood floors have been recently refinished, and fresh paint throughout. Main level master bedroom off dining room, with two closets and plenty of built in cabinets. Full bath off hallway has been renovated to included updated vanity, counter top, and standing shower. Stunning kitchen with updated custom cabinets, granite counters and newer appliances. Enclosed screen porch off living room offers additional space for entertaining. The upper level boasts three full bedrooms, and a full bathroom. Spacious first bedroom with custom closet. Second and third bedrooms with hardwood floors, overlooking back yard. Upper level bathroom with updated vanity, counter top, tile floor and jetted tub. Pull down stairs to attic for even more storage. The lower level features a spacious recreation/media room, with a half bathroom. Additional, laundry/utility area with plenty additional room for storage. Walk up stairs to side patio and huge backyard. Fully fenced back yard, and rare lot and a half.

This home is a wonderful neighborhood in Silver Spring, just minutes to Long Branch Park, Sligo Park. Five minutes driving to I-495, ten minute drive Silver Spring Metro, and Marc Train, Short commute to 95, 295 (BW Parkway), downtown DC and Virginia. Less than a mile to Giant shopping center.

Sales in Highland View range from $350K- $500K for single family homes. There are a mixture of home sizes/styles in this neighborhood, ranging from smaller rancher or cap cods to larger colonial homes. Many of the homes were built in the 1950’s. The average sales price in this neighborhood is $437K, with 45 days on the market. We listed this home for $474,900 and it sold for $485,000 with $13,000 in seller subsidy (or net price of $472,000).

To prepare this home for sale, we encouraged the sellers to make specific renovations that appeal to most buyers (ie paint and flooring), and to have the home staged since it was vacant. Our recommendations worked, as we had a very strong offer, only days after going on the market.

Contact us today for more details about this home, or how to sell your home for top dollar!