The Wethman Group’s Real Estate News – October 2019

October 2019
The Fall market is in full swing! Inventory is still extremely low, which is pushing prices up. There are still good values out there though, if you know where to look. Our own Katie Wethman was one of the featured agents in NBC4 news’ recent story about what you get for $470k in our area. Take a look here!
In market news, our area is expected to continue to see rising rents, as discussed in this article. But buyers are stuck between a rock and a hard place–average home prices are also up nearly everywhere in our region, and with no end in sight to our inventory crises, renters are going to continue to find it difficult.
In DC proper, September also saw a significant increase in median sales price year over year, and roughly equal sales volume (up in detached and condo, down in townhouses). Sellers are still getting 99%+ of asking price. You can dive deeper into the DC market stats here.
Our team is growing! We’re welcoming Barbara Monahan as an agent on our team! Barbara has been in real estate several years already, and we’re happy to have another experienced agent to help serve our awesome clients!
As always, feel free to contact us to discuss your specific real estate questions!
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!) 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 3.77%
5/1 ARM 3.93%
30-Year Jumbo 4.09%
Rates per Bankrate.com as of 10/28//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
Active:
Coming Soon:
4315 Rosedale Ave Bethesda, MD $1.25M
Sold:
405 N. Highland St Arlington, VA $1.625M
12154 Captiva Ct Reston, VA – $330K
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? We add items all the time–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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