The Wethman Group’s Real Estate News – March 2018

March 2018

MARKET UPDATE
Your housing search this spring may seem like it requires a pot of gold! The February median price reached the highest in a decade, interest rates are still climbing, and inventory is holding low. While this sounds grim, these are all just trends of the averages over time. Historically interest rates are still low, and our buyers that are ready to compete are still walking away with their house of choice! We are beginning to see the expected seasonal increase in inventory (new listings up 25% from last month), but of those that come on the market, a larger percentage are finding contracts, making February Active Listings down 13% from February of last year. This is the 22nd consecutive month of year-over-year decline in active listings.
Closed sales and pending contracts remained flat against February last year again this month, meaning buyers are biting on a bigger percentage of homes on the market right now to make up for the lack of inventory. Buyers, let us help you gear up to move on YOUR house when it hits the market. Having your financing and game plan ready is essential this year.
 If you have been thinking about selling, now is the time. Every year buyers come out before the sellers, and the inventory this year is particularly lacking. Contact us now, to talk about how to make your property shine in this early spring market, or how to utilize coming soon marketing to get buyers interested in your property before you are even ready to move! We have sellers now with a summer move timeline, already gearing up to hit the market.
UPCOMING EVENTS
WG Perks Escape Room Event
This past Sunday our team, clients, and friends hit Escape Room Live Georgetown for some puzzle solving fun! Teams beat rooms themed Runaway Subway, Titanic, The Mummy, and Ghostbusters (alas the action in the rooms was too intense for photos). We are proud to report that ALL groups ESCAPED! Special thanks to our sponsors Vince Coyle Team at MVB Mortgage and Steve Milwicz at Atlantic Insurance Group.
Clients, Save the Date- Future Client Appreciation Events:
Saturday, May 12th– Picnic and Wine Tasting at The Winery at Bull Run
Sunday, July 8th– Annual Baseball Game- Nats vs. Marlins
First Time Home Buyer Webinar: THIS WEDNESDAY
We are taking out popular First Time Home Buyer Classes online, hosting a webinar Wednesday, March 21st at 7pm. The class covers deciding to buy, financing, your home search, and trends in the local market, among other topics. If you want a refresher before diving into the Spring market, join us for this free class! Feel free to send your friends who are thinking about buying this year, too. Register here for details.
 Welcome Alli Collier to the Wethman Group Team
We are excited to introduce you to our latest team member: Alli Collier. Alli joins the Wethman Group from a background in Public Relations and a former staffer for the US Senate. She is licensed in DC and Virginia and excited to help our buyers find the home of their dreams. When not scoping out the latest houses to hit the market, Alli spends her time outdoors, hiking, biking, or prepping for her next race.
As always, if you or someone you know has a real estate need, please reach out. We are here to help!
The Wethman Group
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JUST LISTED & OPEN HOUSE! 414 Queen S, Alexandria VA

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We’re excited to share our newest listing in Old Town Alexandria! This home is just two minutes to King St and to the waterfront and with historic charm and modern updates. We’ll be holding it open this Sunday 3/25 from 1-3pm.

Check out details below:
-Historic 3BR, 1.5BA end unit townhome! Quiet location on Queen St.
-Open floor-plan on main level, with formal living room with built-ins, and dining area.
-Gleaming original hardwood floors on main and upper level. Renovated kitchen with granite counters, new cabinets, flooring, and stainless steel appliances.
-Three bedrooms on upper level with ceiling fans and lots of natural light. Upper bath with updated tile flooring, new vanity, fresh paint & modern light fixture.
-Basement storage area, with trap door access behind main level stairs. Elfa shelving conveys!
-Outdoor HVAC unit replaced in 2014, compressor inside basement replaced in 2005. Roof replaced in 2002, hot water heater replaced in 2016.
-Ideal location in Old Town: 2 blocks to King St and waterfront, with plenty of parks, restaurants and shopping! Famers Market & Old Town Square, right around the corner. Mins to metro (King St or Braddock), with a nearby bus route. Nearby grocery stores: Harris Teeter, Trader Joes, Whole Foods and Giant. Perfect for commuters: quick access to Downtown DC, Crystal City, The Pentagon and National Harbor.
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Home sales in Old Town range depending on size, updates and most importantly location! Properties that are historic and closer to King St and the waterfront demand a premium, compared to homes closer to Route 1, and north and south of King St.
Home values have ranged from $599-$899K, with the lower end having 800+/- sq ft and the larger homes having full 3 levels and over 1800 sq ft of living space.

Our home at 414 Queen St is listed for $749,900.

Email admin@wethmangroup.com for a private showing or more information.

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