The Wethman Group’s Real Estate News – March 2019

March 2019


March started with a bang and is still going strong! We’ve been seeing lots of activity in the market this month with many buyers out looking for homes, sellers receiving multiple offers, and lots of pre-market homes coming available as we cruise into the spring real estate market.
Most of our buyers are competing against multiple offers, and escalation clauses are common. We’ve been able to win a few bidding wars WITHOUT waiving contingencies, but it takes the right lender and a good offer strategy. “Coming soon” and off-market sales are becoming more frequent sales opportunities as well, so it’s critical to be working with an agent who is connected. Contact us for more info!
We’re excited for a strong year and we’re excited to help more with their Real Estate needs. Our goal is to reach 100 transactions this year, so if you know anyone thinking of buying or selling, please think of us!
WETHMAN GROUP CLIENT EVENTS: Today is the last day to enter our Wethman Group March Madness Brackets (using this link)! Prizes for top 3 clients to enter (clients only please.) You can also join us for fun, food, and some prop bets with prizes at our Final Four Basketball party on Saturday, April 6th (contact us, or check out the Wethman Group Perks Facebook page, to RSVP). And finally, Save the Date for our Spring Picnic at the Winery on May 11th (weather dependent). We hope to see you throughout the Spring season!
BUYERS: NOW is the time to get your pre-approval finalized and start talking strategy with us so that you’re ready to move quickly when THE ONE pops up. Call us, or get started at our FREE home buyer class in Arlington on Wednesday, April 3 (register here).
AMAZON UPDATE: This past week, Arlington County approved Amazon’s HQ2 Performance Agreement, which provides incentives back to the community based on Amazon’s performance with their new headquarters in National Landing. This incentive, which is tied to Amazon’s direct performance will not only bring 25,000 new jobs, but also infrastructure and support the area through Technology/Educational improvements, Transit updates and Affordable Housing Improvements.
Transit updates tied to the incentive package include:
  • New entrance to the Crystal City Metro station
  • South entrance off Potomac Avenue to the new Potomac Yard Metro station
  • Improvements to U.S. Route 1 in Arlington County
  • Pedestrian bridge from Crystal City to Reagan National Airport
  • Transit way expansion supporting Pentagon City, Crystal City and Potomac Yard in both Alexandria and Arlington
Housing updates include: Arlington and Alexandria will be investing around $150M through 2029 to support affordable and workforce housing in Alexandria, Crystal City, Pentagon City and Columbia Pike areas. This investment will help create anywhere from 2000-2500 units in the area.
Follow us on Instagram & our National Landing Facebook page for more details & updates!
SELLERS: Have you been considering selling your home? There is lack of inventory right now, and buyers are actively looking for a property in your neighborhood! While there is limited inventory, buyers are looking for certain items and will pay more for renovated homes with specific updates. Contact us today for a FREE Home Valuation, and to learn what buyers are looking for your home! Special incentives for those who book an appointment with us before the end of the month!
INTEREST RATES: Rates have recently dropped this past week to the lowest in a year! Now that the Fed has backed down from their hints of rising rates throughout 2019, we should see steady state for awhile.
30-Year Fixed 4.25%
30-Year Fixed VA 4.125%
15-Year Fixed 3.625%
Hear from Katie how we were able to help a client get a DC condo under contract before the open house!
Wethman Group - Getting the Seller to Cancel the Open House!
Thinking about selling your home in 2019, or know someone who is?
Meet with us by the end of March and mention this newsletter to receive commission incentives, a FREE HOME VALUATION and a FREE HOME CLEANING (up to $350) when you list with us.
Spring Maintenance time is around the corner! its a great time to check your gutters, roof and windows for repairs. Check out our Maintenance Checklist for other items to inspect. Routine maintenance throughout the year helps avoid large expensive repairs or replacements down the road!
Need to clean off the exterior of your home, patio or driveway? Use our Power Washer for FREE!
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.

Winterize Your Home

The weather may still be warm enough to venture out without a warm jacket, but Old Man Winter will be making an appearance before long. So now is the time to start thinking about winterizing your home. Here is a list to get you started.

Inspect your furnace
Turn on your furnace now, before it gets cold and you’ll be needing the heat. It’s normal for a strong odor to be present when you fire up your furnace for the first time of the season, but if it lingers, have your furnace checked immediately. Also keep your ears peeled for any unusual sounds. Be sure to change the filter (it should be checked monthly year-round) and if you don’t already have one, invest in a programmable thermostat. It’s also a good idea to have your system serviced by an HVAC professional.

Winterize  your hose bibs
Drain hoses and turn off the water to your hose bibs with the shut-off valve located inside your house. Remove the hose from the spigot and store it out of the elements.

Inspect your roof, gutters & downspouts
Thoroughly clean your gutters and spray water down the downspouts to clear out any debris. If possible, install leaf guards. This will help keep gutters clear and make winterizing your home easier next year. Another cost saving measure: Add extra insulation to your attic to prevent heat loss through the roof, which can melt snow and cause ice dams. Be sure to replace any damaged or worn shingles or tiles.

Change the direction on your ceiling fans
During the winter, reverse the rotation of your ceiling fans so that the warm air being pumped out of your furnace is pushed downward and forced to recirculate. When you’re looking at your fan from below, it should be circulating in a clockwise direction. This one simple step will help keep you toasty warm and improve energy efficiency.

Inspect the exterior, doors & windows
Check the exterior of your home for any cracks, crevices, or entry points around pipes, and seal them. If you have storm windows, now is the time to install them. Plug up any drafts around exterior doors with weather stripping, and caulk any gaps between window frames.

Prevent plumbing freezes
Wrap any exposed pipes on exterior walls with insulating materials, as well as exposed pipes that run through any unheated portion of your home. Now is also a good time to find your main water shut-off valve if you don’t already know its location. Nothing puts a damper on Thanksgiving dinner like a flood in your dining room.

Prepare your fire place
Call a chimney sweep to come inspect your chimney and clean it, if necessary. If you don’t already have one, put a cap on the chimney to keep out animals and debris. Check the damper to ensure proper operation. When you’re not using your fireplace, close the damper. If you have a wood-burning fireplace, now is the time to chop wood or purchase it for delivery. If you have a gas stove, light the pilot light and test operation. If you’re not sure how to light the pilot, call a professional to come do it. Don’t mess around with natural gas if you’re not 100% confident about what you’re doing.

Check alarms
You should get in the habit of replacing the batteries on all smoke alarms when the time changes in the Spring and Fall. You should also test the operation of your smoke alarms and carbon monoxide alarms at the same time. If you don’t already have one, purchase a fire extinguisher (or even better, one for each floor of your home). And if you do have one, replace it if it’s more than ten years old or the gauge on it reads at the low end. Smoke detectors should also be replaced about every ten years.