Fall is in full swing and we are enjoying all the changes that come with the season. We have continued to stay busy here at the Wethman Group with 15 settlements in September and October! We hosted several First Time Home Buyer Classes and were proud to sponsor the JMU Metro Dukes Crab Fest.
We have two big client appreciation events coming up in the next few weeks so all our clients should look out forinvitations to Thanksgiving Pie Giveaway and Breakfast with Santa at the Movies — contact us if you haven’t received your invite!
Market & Lending Conditions
Nationally, it was a rather ordinary month for the residential housing market in October, based on a preliminary analysis of realtor.com® data. “October saw little change in the for-sale housing market other than the typical seasonal decline in demand and inventory,” said Jonathan Smoke, chief economist.
But in our local market, we’re seeing inventory creep up and sales drop, and expect that to continue into November and December. This may be a good opportunity for buyers! Buyers are anxious about apotential Fed rate hike in December, and if mortgage rates go up, that will continue to cool our high-priced local market, especially. In other mortgage news, FHA recently announced changes to its notoriously difficult condo approval process, which should help provide additional financing options to condo buyers very soon.
Before the weather grows colder it’s important to prepare for the winter months to prevent costly damage. Email or call your agent if you need a copy of our Fall Maintenance Checklist.
We’re so grateful for our clients, friends and supporters this season of Thanksgiving and all year long. As always, don’t hesitate to call us if we can help with your real estate needs.
The Wethman Group