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.
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.
The Wethman Group