Phew! We here at the Wethman Group are TIRED! It has been a CRAZY month in the real estate market. Multiple offers, bidding wars, and more. We would like to start off by thanking all of YOU for your referrals. Thanks to you, we have 13 settlements this month!
Most of our area is running at about two to three months of inventory, far below the six months we like to see in a balanced market. If you or someone you know is looking to sell, now is the time! I personally have had multiple offers on nearly every listing, and about 75% of the offers we have written for our buyers in the past month are competing against others. Even our DC rental listing had eight applications in just four days and got bids well above the list price!
If you know someone looking to move, please contact us. And if you’re thinking of selling, contact us and we’ll be happy to provide you with a free market analysis of your home and a review of statistics in your local neighborhood.
Well, it looks like more of the same this month: low housing-market inventory and all-time low interest rates. Just in the past week, though, I’ve noticed more homes coming on the market, so the Spring market is upon us.
Thinking of remodeling instead of selling or doing some upgrades to get ready for the market? Check out the Cost vs. Value report to get an idea of payback.
Do you know someone thinking of selling? NOW is the time to start decluttering and consulting with staging professionals. We would love to give someone you know a free analysis of their neighborhood—this market (and our team) needs listings!
If you or someone you know is thinking of starting the home-buying process, please attend our free first-time home buyer class at Arlington Central Library on March 26th at 7:00 pm, and encourage your friends to do the same. You can register here.
If you or someone you know is looking to move, please contact us. And if you’re thinking of selling, contact us and we’ll be happy to provide you with a free market analysis of your home’s value and a review of statistics in your local neighborhood.
A new survey from NAR shows that 89% of all home buyers start their search on the internet.
If you’re thinking of selling your home, catering to the internet home shopper could give you the jump on sellers who wait until spring.
This month in real estate looks at housing affordability. Right now, affordability is at an all-time high due to low mortgage rates and home prices. Also, economists are predicting a housing shortage to materialize as early as this year.
If you’d like more information on our local market, please just contact us!
More FHA changes regarding condos went into effect February 1, so expect that to have an impact on the condo market — sellers need to be aware that conventional financing may be the more appealing option should you have the choice, and buyers need to be aware that the process just got a whole lot more complex and expensive, at least for some of you.