The Wethman Group’s Real Estate News – September 2019

September 2019
The kids are back to school, and we’re back to the hot real estate market!
August stats were roughly in line with prior years’, and activity picked up after Labor Day, as expected. See chart at right for Northern Virginia stats (take Fairfax City and Falls Church with a grain of salt…very small sample sizes! But WOW Arlington–no doubt people are buying into the HQ2 hype.) Typically in September we see a pop in inventory as sellers try to get a deal done before the holidays and year end, and this year is no exception.
We’ll be announcing soon a date for the return of our FREE first time home buyer classes! Stay tuned for a date in late October or early November. Contact us if you want us to ping you when registration opens!
Thinking of buying? It’s better to start sooner than later, even if your target move date is months away…with a lot of buyers ‘waiting until next Spring’, it’s a great time to find a great home with less competition from other buyers!

Interest Rate Update
Rates continue to be very low, and it’s a great time to refinance (especially if you’re in an adjustable rate mortgage!) This is also a great time to see if you can get PMI removed if you were close to the equity threshold–we have all of the high Spring sales as comps. Contact any member of the The Wethman Group if you want to discuss whether it makes sense, and for a recommendation to an awesome lender!
30-Year Fixed Conventional 3.75%
5/1 ARM 3.96%
30-Year Jumbo 4.05%
Rates per Bankrate.com as of 9/25/19. https://www.bankrate.com/mortgage.aspx Graph Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States [MORTGAGE30US], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MORTGAGE30US
WETHMAN GROUP LISTINGS
Coming Soon:
1201 N. Garfield St #803 Arlington, VA $750K/TBD
5844 Aspen Wood Ct Arlington, VA $1.5M
Under Contract:
405 N. Highland St Arlington, VA $1.65M
12154 Captiva Ct Reston, VA – $325K

HOME CARE CORNER:
Winterizing Hose Bibs
The weather hasn’t quite turned yet, but this is a good time to go ahead and winterize those outside hose bibs if you don’t expect to be watering any plants the rest of the year. To winterize a hose bib, cut the inside shutoff valve OFF, then turn the outdoor hose bib ON to drain the line.
CLIENT PERKS: LEAF BLOWER/SHREDDER
Fall leaves will be dropping soon! Clients can use our leaf blower and shredder for FREE. Just contact us to arrange a loan!
Have something you’d like to see us add to our collection of client items available to borrow? Just email us!
We’re happy to help with all your residential and commercial real estate needs throughout the DC metro area. Remember to Like us on Facebook for market updates and real estate tips!
We have a nationwide network of quality agents–let us know if you or someone you know needs a referral to another city.
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