Thoughts on the Washington, DC, and Northern Virginia Real Estate Market » Market Updates

Spring 2012 Market Preview

wethmangroupadmin — Fri, 27 Jan 2012 13:00:31 +0000

So far, 2012 is off to a busy start! I’ve already had many calls from both buyers and sellers who are asking about the market, so I am anticipating a busier spring than usual. Rates continue to stay at record lows—many days below 4 percent.

The builders must be feeling more optimistic about the market too, with construction projects speeding along in our area: the Founders Square DARPA building in Ballston is now complete, with the residential tower next, Garfield Park in Clarendon is making good progress, and the new office buidling in Clarendon slated for the site of Potomac Crossfit, Eleventh St Lounge, and TA Sullivans is slated to begin in February.

So buyers, get ready for a busy spring, and sellers, NOW is the time to start decluttering and getting your home ready for the spring market. Contact us if you would like a consultation about how to prepare your home.

If you know someone looking to move, please contact us. And if you’re thinking of selling, we’ll be happy to provide you with a free market analysis of your home and a review of statistics in your local neighborhood.

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Washington, DC Housing Market Stats for December 2011

wethmangroupadmin — Tue, 24 Jan 2012 18:28:44 +0000

Welcome to our 300th post on this blog! Take a look at the video below to check out the latest numbers on the Washington, DC housing market. Enjoy!

Washington, DC Housing Market Stats for November 2011 Find out what’s happening in the DC real estate market…just...
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DC Real Estate Market Update: November 2011

wethmangroupadmin — Mon, 28 Nov 2011 12:00:31 +0000

Homeowners in the DC area can be thankful for our continued strong market. In fact, homeowners nationwide can appreciate that the numbers continue to rebound, as the Atlantic’s “Chart of the Day” interestingly illustrates. However, every story has at least two sides…the jury is out as to whether the “rebound” illustrated actually reflects the artificially slower rate of foreclosures this year.

In financing news, we in the DC area got a bit of good news (in addition to the ridiculously low rates, that is): FHA loan limits were upped back to the previously “temporary” limit of $729,750. That’s great news in terms of affordability for homes in the $800,000-$900,000 price range. FHA continues to be a thorn in the side of many condo complexes, though; communities lost their certification earlier this year and many are finding it hard to win approved status.

Despite that, the market continues to be more active than usual for this time of year. Low rates are bringing out buyers and investors, but low inventory keeps them frustrated. Homes at the “right” price ARE selling.

If you know someone looking to move, please contact us. And if you’re thinking of selling, contact us for a no obligation market analysis of your home and review of statistics in your local neighborhood. You can”introduce” yourself to us via our HGTV Show “My First Place” airing again on November 25 (this Friday) at 8 am.

This year, once again, we are thankful for all of you—our clients and friends who refer us business. Thank you for your continued support and we wish you a happy and healthy holiday season!

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Washington, DC MarketWatch: October 2011

wethmangroupadmin — Wed, 23 Nov 2011 12:00:52 +0000

Watch the video below to find out the current state of the Washington, DC, real estate market. And if you’d like more information, please contact us!

Washington, DC MarketWatch: May 2011 What’s happening in the Washington, DC real estate market? Watch...
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DC Real Estate Market Update: October 2011

wethmangroupadmin — Wed, 02 Nov 2011 11:00:31 +0000

The Fall market continues to surprise—it’s been really, really busy, fueled by another batch of record low interest rates. (Need a good lender to re-fi? Ask me!)

Our market continues to outperform the nation. Builder magazine named DC #13 on its list of Healthiest Housing Markets. It notes that while builders noted a step back in prices, “Moody’s expects permit activity to pick up substantially in 2012, partly due to a strong jobs market. With an unemployment rate well below the national average, D.C. is expected to add 40,000 jobs this year. The region’s population continues to grow at about 1.2% annually.”

And it was doubly good news for Arlington, which also made Bloomberg Business Week’s List of 50 Best Cities, coming in at number 2 (behind Raleigh, NC).

On another note, homeowners, don’t forget your Fall home maintenance. This is the perfect time to drain hose bibs, seal drafty windows and doors, check your chimney for loose or missing mortar, and don’t forget to keep those gutters clear of falling leaves.

In this month’s trivia section, ever wonder why it’s called “real estate”? After all, of course it’s “real,” and it’s only sometimes part of an “estate.” Get the Straight Dope here.

If you know someone looking to move, please don’t hesitate to contact us. And if you’re thinking of selling—contact us for a no obligation market analysis of your home and review of statistics in your local neighborhood.

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Washington, DC MarketWatch: September 2011

wethmangroupadmin — Wed, 26 Oct 2011 11:00:04 +0000

What’s happening in the Washington, DC real estate market? Watch this video to find out!

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This Month in Real Estate: October 2011

wethmangroupadmin — Wed, 19 Oct 2011 11:00:40 +0000

Find out what’s happening in the real estate market by taking a look at the numbers for September 2011.

This Month in Real Estate: August 2011 Check out the video below to find out what’s happening...
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North Arlington (Orange Line) Condo Update: October 2011

wethmangroupadmin — Wed, 12 Oct 2011 19:28:19 +0000

Zip Codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon)

See market data for all of Arlington.

See more Buyer Resources.

See last month’s post on Orange Line Condo prices.

Ready to start your search? Sign up for a free first time home buyer class in Arlington (registration required).

Source: MRIS. All data deemed accurate but not guaranteed. Stats exclude retirement communities and co-ops.

	1 BR Units	2BR Units
ACTIVE LISTINGS as of October 12, 2011
Average List Price	$323,474	$473,741
Number of Active Listings	35	41
Average Property DOM(P) – Actives	50	100
SOLD LISTINGS for September 2011
Average Sold Price for Previous Month (does not include seller subsidies)	$313,654	$461,471
Number of Sold Listings in Previous Month	14	21
Average Property DOM(P) – Solds	63	37

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Washington, DC MarketWatch: August 2011

wethmangroupadmin — Mon, 26 Sep 2011 17:05:11 +0000

Want to know what’s happening the Washington, DC real estate market? Watch the video below for updated stats for August 2011.

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This Month in Real Estate: September 2011

wethmangroupadmin — Mon, 19 Sep 2011 16:00:12 +0000

Want to know what’s going on this month in real estate? Check out the video below to find out! And if you’d like more information, please contact us.

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