The Wethman Group’s Real Estate News – April 2018

April 2018

MARKET UPDATE
With taxes on everyone’s mind, we’ve been getting lots of questions about the mortgage interest deduction and how things may change under the new tax laws. For most owners, the majority of their mortgage interest (up to $750,000 worth of debt) is still very valuable. The limitation on State and Local Tax Deductions does temper the effect a bit though. IF you are thinking about buying or selling and want a more detailed discussion of the potential impact on your taxes, contact us to arrange a meeting.
The market in our area in March actually slowed slightly, compared to this time last year. Prices are still increasing (up 3.5% from the March median last year to a March high for the last 10 years), but sales volume, new contracts, and closed contracts all were down in March from this time last year. Active inventory was also down 13% from March last year, making it the 23rd consecutive month of year-over-year declines in inventory.
From what we are seeing with our own clients, demand from buyers is still high, but with less out there to buy, sales numbers are starting to reflect the low inventory.
With the continued emphasis on inventory, if you are thinking about selling, now is the time to start a conversation. Even if you won’t be ready to move until summer, contact us to take photos of the exterior of your house while spring is in full bloom and everything looks beautiful! And let us plan how to utilize coming soon marketing to get buyers interested in your property before you are even ready to move!
 EVENTS
Picnic at the Winery
Clients, join us Saturday, May 12th from 12-4pm as we enjoy a picnic at The Winery at Bull Run. We will have games, foods, and of course, wine! All ages welcome, so bring the kiddos!
Clients, Save the Date:
Sunday, July 8th– Annual Baseball Game- Nats vs. Marlins
2 Upcoming First Time Home Buyer Classes
Our popular First Time Home Buyer class covers deciding to buy, financing, your home search, trends in the local market, and even the implications of the new tax law! If you want a refresher before diving into the Spring market, join us for this free class and send your friends who are thinking of buying!
**TONIGHT** Webinar, Wednesday, April 18th at 7pm
In Person, Tuesday, May 1st at 7pm at Reliable Tavern in DC
 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: 3811 Whitman Rd

New on the market: our stunning listing at 3811 Whitman Rd in Annandale, VA! This home is located in the desirable Winterset neighborhood and has been meticulously maintained.

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This home features 4 bedrooms, 3.5 bath colonial home with one car carport.
-Beautifully renovated home in the wonderful Winterset community!
-Gleaming hardwoods on main and upper levels.
-Remodeled kitchen with beveled-edge granite counters, stainless steel appliances, cherry cabinets w/ pullouts & soft catch doors
-Cozy family room with remote controlled gas fireplace and a brick accent wall
-4 bedrooms on upper level including the master suite with a remodeled master bathroom showcasing a new tile shower, rainfall showerhead, new vanity & Delta touch faucets!
-Exercise room on lower level along with a large storage room equipped with workbenches and ample builtin shelving
-Lower level fully equipped with a projector & screen, wet bar with a mini-fridge; even connect the recessed smart lighting to your Amazon Echo!
-Fully-fenced private backyard with a six-foot fence and a gas fire pit

Homes in Winterset have sold from mid $600K’s up to $850K depending on the size, location and upgrades. The most recent sale sold for $850K, but had been completely gutted top to bottom, and was essentially a brand new home.

3811 Whitman Rd is listed for $750,000.

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

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Just Listed: 9907 Natick Rd

Excited to share this lovely new home in Burke Centre! New on the market this week, 9907 Natick Rd is a well maintained four bedrooms, 3.5 bath single family home in the sought after Woods cluster. Open House will be held on Sunday 4/15 from 2-4pm!

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This stately home offers over 2600 sq ft of living space on the main & upper level.
Formal living and dining rooms with crown molding and plenty of natural light!
Updated kitchen with granite counters, newer appliances & cabinets. Island, and additional cabinets and built-ins for extra storage space.
Separate laundry/mud room off kitchen with quick access to the backyard.
Inviting family room off kitchen with huge brick fireplace and sliding glass doors to deck and fenced yard.
The upper level features four spacious bedrooms and two full bathrooms.
Serene master bedroom with walk-in closet, and separate sitting area, that can also be made into a 5th bedroom. Ensuite master bath with two updated vanities and shower/tub combo. Spacious bedrooms with ample closet space!
Lower level features fully finished basement with rec reaction/media area, bonus craft/hobby room, full bathroom with standing shower and storage and utility room.
Relaxing patio with treed view and low maintenance yard!
This home has been impeccably maintained, and is move-in ready!


Community Amenities:
Ideal location in the “Woods” cluster of Burke Centre. Access to jog/walking paths, tot lots, and community pools.
Minutes to nearby shopping restaurants and retail.
Ideal for commuters! Just minutes to the VRE train to downtown DC, with bus stops to the Pentagon Metro and a short distance to 495 and Fairfax County Parkway!

Homes in Burke Centre vary in price fro, $400K-$750K depending on the size, location and upgrades. The “Woods” is the newest cluster in Burke Centre, and the homes in this section are larger, and on bigger lots. Homes off Natick Rd had recently sold for $600-$699K. Ones on the lower end had had unfinished basements and less updates. 9907 Natick Rd is listed for $675K.

Contact us for a private showing!

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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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JUST LISTED: 1414 Belmont Rd NW #102 Washington DC

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The spring market is here, and we’re excited about our newest listing in DC! This modern condo is located at 1414 Belmont Rd N at the Solea in bustling Columbia Height neighborhood.

Details on the unit:
A spacious studio that lives like a one bedroom!
The unit features 670 sq feet of living space, 12 ft ceilings, gleaming wide plank, bamboo hardwood floors and fresh paint throughout.
Ideal layout with plenty of space for a bedroom and living area.
Updated kitchen with granite countertops and newer cabinets.
Spacious foyer perfect for an office nook.
Walk-in closet with custom shelving.
Expansive bathroom with large vanity, shower/tub, and tiled floor. Stacked washer and dryer in unit.
The front door opens to a private and secured courtyard with outdoor furniture.
Reserved parking spot, just steps from your front door.
The building was built in 2008, is pet-friendly, and offers a low condo fee.
Ideal location, just 1 Block to Meridian Hill Park- 4 blocks to Metro- Mins to 14th St, U St, and Columbia Heights!
Plenty of retail & restaurants nearby: Busboys & Poets Kapnos, Provision no 14, Marvin, Policy and more!

This unit is unique because it’s almost twice the size of other studios and features convenient access right off the private courtyard. Other studios in the building have sold for $280K-$330K, depending on their size and updated. One bedroom units in the building have sold for $390K-$420K, depending on their size and amenities.

This unit is being listed for $389,900. Please contact us for a private showing!

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JUST LISTED! 12118 Kinsley Place

WORLD CLASS LUXURY!

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12118 Kinsley Place Reston, VA 20190

Stunning 3 bedroom, 2.5 bath townhouse in West Market!
The home features the Paris model layout, with 1731 sq ft of living space on 4 levels.
Impeccable details throughout with gleaming hardwoods on 3 levels, crown molding. and quality craftsmanship.
Entry level with marble flooring opens to a library/sitting room with 1/2 bath, closet, and separate entrance. (Could be used as 3rd bedroom)

Open and inviting living and dining area on upper level with custom crown molding and built-in speakers.
Upgraded kitchen with corian counters, island with sink, newer stainless appliances, ample cabinet space and recessed lighting.
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Serene master suite with two closets and ensuite master bath.
The luxurious master bathroom has separate tub/shower, double vanity, and ceramic tile flooring.
Second master suite with walk-in closet and ensuite bathroom.
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Laundry area located in the hallway between bedrooms.
Inviting loft on upper level with brick accent wall, second fireplace, entertainment built-ins, wet bar, beverage fridge, and access to the deck.
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Breathtaking views of Reston Town Center from the 4th level rooftop terrace.
Other upgrades include security and sprinkler systems, new HVAC installed in 2016, washer and dryer installed in 2015. Surround sound and speakers on 3 floors. Built in tv and stereo system conveys!
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Decking on roof has also been updated with commercial grade materials.
The entry level offers dual entry to the home, complete with one car garage and lush landscaping in the front and back.
West Market community amenities include a clubhouse, exercise room, jogging/walking paths, and swimming pool. Low HOA fees!
This home is centrally located. and only two blocks to Reston Town Centre with a plethora of restaurants and retail.
Commuter’s dream, with quick access to Fairfax County Parkway. Dulles Toll Road, and Silver Line metro.
This home is impeccably maintained and move in ready!

Homes in West Market have sold from $700K-$929K, pending on size and updates. Homes similar to 12118 Kinsley have sold for $720K-$770K. Larger homes with more than 1700sq ft, with a 2 car garage have sold for $800K and above. Our home is listed at $749K.

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

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Just Listed: 6722 Surreywood Ln

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Stunning Bethesda townhouse with 3 bedrooms, 2.55 bathrooms and 2310 sq ft of living space.
Open and inviting living/dining area with gleaming hardwood floors, updated light fixtures, wood burning fireplace and modern paint. French doors from living room lead to the relaxing deck backing to trees.
Gourmet kitchen with maple cabinets, environmentally friendly Silestone countertops, stainless steel appliances, and 48″ modern checkerboard tile. Half bathroom on the main level.
Three bedrooms and two bathrooms located on the upper level.
Enviable master suite with custom carpet, two large closets complete with organizers & soft close drawers.
Renovated master bathroom with dual showers in quartz tile, rare double sink vanity, and custom European white wall tile and porcelain hardwood tile flooring.
Two other bedrooms with updated flooring and modern paint. Hall bathroom with shower/tub combo and neutral vanity & flooring.
Spacious recreation/family room features a full bar, 2nd fireplace with high-efficiency wood burning stove insert, and movie theater (projector conveys!) Walk out from basement to brick patio and landscaped yard.
Finished utility space with washer/dryer and built-in storage.
Other updates include HVAC- 6 months old, Hot water heater 1-year-old, washer & dryer 6 months old.
Impeccably maintained, and one of the larger models in the neighborhood!
Highly ranked schools: Ashburton Elementary, North Bethesda Middle & Walter Johnson High School.
Ideal location: minutes parks, shops & restaurants with quick access to 270 and 495.

Stratton Commons is a small community tucked away in a quiet Bethesda neighborhood. There are mostly single-family homes and a small section of townhouses near Stratton park. Prices of townhouse range, depending on the size and upgrades. Other homes this year have sold for $549K-$577K, and were smaller with less upgrades in the kitchen and bathrooms.

We listed 6722 Surreywood for $599K, had over 15 scheduled showings, and 23 groups through the Open House. We received 3 offers with very competitive terms.

If you would like to know how to get top dollar for your home, please contact us for a free consultation and market analysis.

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JUST LISTED: 11814 Great Owl Circle

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Stunning 4 bedroom, 3.5 bath townhouse in desirable Reston neighborhood!
Gleaming hardwood floors on main level, upper level and loft.
Updated kitchen with granite counters, newer cabinets, stainless steel appliances, complete with bay window and eat- in space.
Inviting living and dining area with plenty of natural light.
Upper level features 3 bedrooms, 2 full baths and a loft.
Enviable master bedroom with vaulted ceilings and en-suite master bath with shower and separate tub.
Loft with hardwood floors, skylight and ceiling fan and can be used as an office, den or library.
Spacious lower level with walkout to yard, complete with large bedroom, full bathroom and space for recreation room!
Ideal location, minutes to North Point Village shopping center for groceries, Starbucks, restaurants, and more.
Convenient to Reston pools, basketball courts, playground, & bike trails.
Short drive to Reston Town Center, Dulles Airport, Weihle- Reston metro line (Silver & Blue lines) and major commuter routes (267, 66 and 495).
Townhouse is in impeccable condition and is turn key!

Home in this neighborhood have sold for $480k-$575K depending on size and updates. Some homes feature a one car garage, while others offer 2 reserved parking spaces.

This home is located in a quiet neighborhood and is listed for $575K.

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

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The Wethman Group’s Real Estate News

June 2017

Greetings!
The temps are hot and so is the market! The median sales price in our area reached the all-time high for any month on record, topping the previous high of $446,000 reached in June 2016. New contract activity was up over 4% over last May’s record.
May finally saw a nice increase in new listings, up 8.7% over last year, and 5.5% over last month, but it wasn’t enough to make up for the already low level of inventory we have been seeing. A lot of new listings are snatched up within days of entering the market. Median Days on Market (DOM) at 10 days- the second lowest mark in a decade (9 days in 2013). Which means active listing (those available to buy) in May were still down 10.9% from this time last year and at the lowest May level since 2013.
We’re seeing multiple bids on most properties that are priced to sell, and significant offers over asking in a few pockets of DC and Arlington. Even though the market is competitive, we have a lot of happy buyers right now! Making the most attractive offer isn’t just about competing on price. There are many components that play into the strategy of an offer. If you are thinking of buying, let us guide you on how to put your best foot forward in this hot market. Set up a conversation with one of our buyer agents to come up with a strategy that is tailored to your goals.
Thinking of selling? Now’s the time! Inventory is still at the lowest level we have seen in 4 years and prices are reaching record highs. Buyers are well informed and ready to move. If you have been considering a change, start the conversation with our listing team to figure out your how to position your property to maximize your return.

Upcoming Event: Client Appreciation Day at the Nats Game
To show our appreciation for our business, we’d love to take you out to the ballgame! Join us as the Nationals take on the Braves, Sunday, July 9th at 1:35pm. Tickets are on us, but you must RSVP. If you are a current or past client, or have referred clients to us, and haven’t yet received your invite, reach out to us at baseball@wethmangroup.com and we’ll get you squared away!
Love us? Review us! Your reviews mean so much to our business. Share your experience online at Yelp, Zillow, Angie’s List, or on Facebook, and you will be entered into a quarterly drawing for a $100 gift card. Plus, you will instantly receive our deepest gratitude! This quarter’s winner: Meghan Hurley! Meghan got 3 entries for her awesome reviews on Yelp, Zillow, AND Facebook. Thanks, Meghan!
As always, if you or someone you know has a real estate need please reach out. We’re here to help!
The Wethman Group
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