Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in December 2014, or if you have any questions, just contact us!
Here at the Wethman Group we continue to keep busy–no winter break for us! We have 10 closings on the books for December, and 4 already for January! Thank you for your referrals and support of our business!
Don’t let the winter keep you from considering listing your home. A recent report shows that February is historically the best month to list, even in cold weather cities! We’ve seen this in effect ourselves, with our listings getting multiple bids the past two years in February, when buyers are still out looking but most sellers aren’t quite ready to list yet so competition is low. January, February, and March led the pack as the best months for selling a home in 90 days or sooner, while October and November came in last.
Mortgage rates are on everyone’s minds for the 2015 real estate market, and the prognosis is mixed. The Mortgage Bankers Association is predicting a rise to 5%, but RealtyTrac is predicting a fall. Either way, with the Fed widely expected to raise short term rates in February, we will be in for a volatile mortgage market.
Meanwhile, in local market news, GMU’s Center for Regional Analysis is predicting that pent up demand in our area will push prices ‘slightly higher’ with the exception of the luxury market. 2014 was softer in most categories than expected given the economic strength of 2013. The slowdown in 2014 was linked to lower wage jobs, slower immigration, lower marriage rates, restricted access to credit and student loan debt, among other things.
To help buyers get a jump on their 2015 planning, we’ve scheduled a free first time home buyer class for Sunday January 18 at 7 pm at Arlington Central Library. Register at www.newhomebuyerclass.com
We loved hosting our past clients for a Thanksgiving Pie giveaway and a Movie Day with Santa event in the past few weeks. We look forward to hosting everyone again at an event soon!
The Wethman Group is growing! We’re thrilled to welcome Tim Heil and Kelly Chen Andres as agents with the team. We also have an open staff position: we’re looking for a Business Development & Client Care Coordinator. Know someone who’s passionate about real estate and loves to be on the phone helping people? Send us their info, or have them check out our ad here.
Finally, we’re thrilled that Katie has been been named a“Top Agent” in the Eastern U.S. edition of Top Agent Magazine. Thanks to all of you for supporting us all these years!
If we can be of help to you or your friends and family with real estate needs, please don’t hesitate to reach out.
Happy new year!
The Wethman Group
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in November 2014, or if you have any questions, just contact us!
Recently the Wethman Group teamed up with some fellow Keller Williams agents in the McLean office to host a “Breakfast at the Movies” client event. Our guests enjoyed a free and private viewing of “The Penguins of Madagascar” at Tysons AMC, along with prizes, food and pictures with Santa. Fun was had by all and we look forward to hosting again next year. Here are a few pictures of the festivities:
Our clients getting settled before the movie starts.
Keller Williams Agents enjoying some Santa time.
Happy Holidays and remember to contact The Wethman Group for your real estate needs in 2015!
Our very own Katie Wethman was recently featured in Top Agent Magazine. The publication is the premier real estate magazine featuring the best real estate agents in the USA, Canada and Europe. Top Agent Magazine features the top-producing and most accomplished agents in the real estate industry, offering an in-depth look at their careers and providing a blueprint for their success.
Click here to see Katie’s article and learn more about her expansive career and unique real estate approach.
We hope everyone enjoyed their Thanksgiving as much as we did here at the Wethman Group. Our annual “Pie Giveaway” client appreciation event was a huge success. Every year our group invites our clients to a free apple or pumpkin pie that can be picked up before Thanksgiving. Our clients enjoy getting their pie and we enjoy seeing our clients before the holiday bustle begins. The next few weeks in Falls Church are sure to be busy surrounding all the organized events going on in town. Here are a few you might want to put on your calendar:
December 7th-9th / 13th-16th:
The Best Christmas Pageant Ever: A group of bad apples star in the church’s annual nativity play and add their own changes to the story.
James Lee Community Center Theater
2855 Annandale Road
Falls Church, VA
December 6th – 7th:
Holiday Craft Show: More than fifty crafters sell their wares at the community center selling unique handmade gifts and baked goods.
223 Little Falls Street
Falls Church, VA
Saturday 9AM – 4PM / Sunday 11AM – 4PM
A Civil War Christmas: Experience Christmas circa 1863, complete with re-enactors and parlor entertainment. Also serving holiday tea (reservations required).
Cherry Hill Farmhouse
312 Park Ave
Falls Church, VA
10AM – 3PM
December 6th, 13th and 20th:
Holiday Farmers Market: The award winning Falls Church Farmers Market expands to include crafts and gifts, trees, wreaths and more.
Falls Church City Hall Parking Lot
300 Park Ave.
Falls Church, VA
8AM – Noon
Watch Night: Ring in the New Year with family friendly festivities in the city of Falls Church.
Intersection of Broad St. and Washington St.
Falls Church, VA
7PM – Midnight
The upcoming holiday season has not slowed the market down. The October sales data, published last week, shows a robust, steady market in our region. The decline of 2.8% in closed sales from October 2013 was attributed entirely to the decrease in distressed (foreclosure or short sale) property sales. Regular sales remained flat at last year’s levels while new contracts increased by 1.4%. Inventory lingers at less than half of the peak reached in 2007. Even though it takes longer to get a listing under contract, the days-on-market indicator is still under the 5- and 10-year averages. Every jurisdiction showed price gains, ranging from 1.6% in Arlington County to 14% in Fairfax City. The number of townhomes available for sale rose by 34.8% from last year, the most of any segment, so this could be a good time to shop for this kind of property.
Even though Fall tends to be a slow time in real-estate, our listing on Capitol Hill got 5 offers in 9 days and sold for $70,000 over original asking price. And our Lyon Park listing had over 60 showings in the first week it was on the market! But this is definitely not the case everywhere. In fact, we’ve started seeing a lot of excellent properties that are priced well, but sit on the market. The winter months could turn up some good deals for buyers or investors willing to brave the cold. If you’re curious what’s been on our radar, feel free to reach out to us.
The recent elections could re-shape some local real-estate markets, mostly through altering the course of large-scale public projects. In DC, the soccer stadium at Buzzard Point may get a boost from Mayor-elect Muriel E. Bowser. In Maryland, the still uncertain Purple Line may become even less certain after the surprise win by Larry Hogan. And on the Virginia side, Arlington County just announced that the highly-contested Columbia Pike Streetcar project has been cancelled .
You’ll probably find us repeating ourselves, but it bears repeating: if you plan on selling in early 2015, the time to get ready is now. Yes, you have tons of shopping, driving, cooking, and entertaining to do. But so does everyone else which means almost nobody is getting their house prepared to hit the market. And a lot of serious buyers start shopping as soon as January 1st, checkbooks in hand. The harsh weather last winter delayed many listings, so by the time they finally got online, the buyers had either purchased elsewhere or postponed their plans due to the low inventory. Early bird gets the worm may very well be the mantra this January. To find out what you should be doing pre-listing, just contact us!
The Wethman Group
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P.S. We have a nationwide network of quality agents–let us know if you or someone you know needs a referral to another city.
Watch the video below to find out what’s happening in the Northern Virginia real estate market. This video is about the housing market trends in Northern Virginia in October 2014, or if you have any questions, just contact us!
Our own Katie Wethman has been named to a one year Directorship on the Northern Virginia Association of Realtors’(NVAR) Board of Directors!
This is a great accomplishment for Katie, and we are proud to support her in this new role.
For more details on the 2015 Board of Directors Announcement, visit: NVAR 2015
Ready to start your search? Contact me and we’ll meet for coffee to see if it makes sense to work together. Not in the DC area but need a recommendation for a good real estate agent? I have a nationwide network — just ask me!
New this week in Arlington: our listing on 307 N Barton St!
This home is located in the desirable Lyon Park neighborhood, and features 4 bedrooms, 3.5 bath, open and inviting floor plan and plenty of living space. This home has story book charm, but also modern updates to include: gleaming hardwood floors, gourmet kitchen with granite counters and stainless appliances and breakfast bar, as well as updated bathrooms. Peaceful master bedroom on the main level with a large walk in closet. Cozy family room off kitchen with French doors to relaxing back porch and fenced yard with patio. Spacious lower level with recreation room, two bedrooms with attached bathrooms, separate laundry and additional storage.
Lyon Park, just a short distance from Clarendon, is one of North Arlington’s most exclusive places to live. An extremely walkable neighborhood, Lyon Park is home to numerous shops and restaurants including Whole Foods, Circa, Pottery Barn and Spark Yoga just to name a few. The 300-acre neighborhood, bounded by Arlington Boulevard on two sides, North Irving and North 10th Street, has a population of just over 5,000 residents. The Lyon Park Community Center holds up to 150 people and can be used for receptions, dinners and parties. The community center and park are owned by Lyon Park Citizens, and is the only private park open to the public. Many of the homes located here are from the 1920’s and 1930’s interspersed with new construction making for an architecturally unique neighborhood boasting with charm.
The home is also perfect location for quick access to Washington DC, The Pentagon, Ft Meyer, Henderson Hall, Crystal City and Alexandria. A short 5 minute drive to Clarendon Metro, and minutes away from Route 50, 66, and 395.
This home is listed for $769,900. Looking at sales for the year, the average list price for comparable Bungalows of with similar number of bedrooms and square feet in Lyon Park is around $760K, with the list to sale price about 98% and higher. Additionally, the average days on market is around 11.
Contact us today, for a private showing or more details.