August 17, 2017
| Published in Newsletters

August 2017 News

Dear Friends & Neighbors –

We know everyone’s getting excited about the total solar eclipse next week. But just like with real estate transactions, we never want to see our clients get burned – make sure you pick up a pair of eclipse glasses! Here is the inside scoop on places handing these out for free so you can view this astronomical event safely.

Market Overview

With everyone in the midst of their summer vacations, year-over-year comparisons show a decline in housing inventory levels for the 15th month in a row. Not to mention that the strong economic recovery in our region has prompted a record “July high” for sales price. These statistics might appear great for sellers, but have shown that DC homes are actually overvalued. That means they are at least 10% higher than the long-run sustainable level (determined by factors such as average disposable income). Many are able to leverage the currently low mortgage rates to make a purchase, and Fannie Mae is even raising their “debt-to-income ratio” to 50%! But these statistics are still dissuading some potential buyers.

As more people are waiting for the right home, the sale process should slow down, allowing inventory to creep back up. This has happened before: after the big influx of inventory in 2008, levels began to decrease until 2013 (at a level 22.5% lower than our current stock). Supply increased during 2014-15, and is now cooling again. So the market certainly isn’t frozen. “Flipping” has actually been on the rise in the Metropolitan area, as shown by this Arlington family. But there are always buyers and sellers looking to dive in; just part of the circle of life!

Wydler Brothers is Growing!

We would like to introduce you to the newest member of our brokerage

Natalie Vaughan
Natalie VaughanNatalie is strongly dedicated to fulfilling her clients’ specific needs, and does so with an energetic, and professional approach that is backed confidently by her expertise and experience in the market. An area resident for more than 30 years and specifically in Arlington since 2003, Natalie has practiced real estate locally with excellent results since 2007. She has gained a wealth of intimate knowledge of the community, from schools to neighborhoods to local services, and her insider’s perspective is a huge benefit to her clients. She currently lives in Arlington with her twin sons and is highly involved in the community.

In The News

Observe the Eclipse in the Nation’s Capital
For the first time in almost 100 years, a total solar eclipse will cross the entire United States! Observers located in Washington, D.C., will see a partial eclipse, with the Moon blocking up to 82% of the Sun.
Read more here.
DC Getting Greener

Already, people who love green spaces should be able to fall in love with the nation’s capital. There are so many parks and public areas to choose from, from Meridian Hill Park to Rock Creek Park. In the coming years, residents and tourists alike will be able to find even more parks along with heavily refurbished ones. Read more here.