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 atwww.newhomebuyerclass.com
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!
The Wethman Group