March 2017 News

Mar
16
|

Dear Friends and Neighbors –
May the luck of the Irish be with you today! As we celebrate all things green – green lawns, green trees, and yes, maybe even green beer – we also celebrate that Spring is within reach!
And for those who enjoyed what we hope is the last of the winter weather, we’ve got some great pics here of DC’s magical snow day! You’re welcome!

Market Overview

The market is showing some positive signs that should encourage both buyers and sellers. If you’re thinking about listing your home, you will be happy to know that sellers are getting what they ask for (and in some cases, even more!). Homeowners received an average of 97.4% of the original list price – this is up from January. But if you’re a buyer, don’t fret! You actually have more options now, with over 1000 new homes to see (22.4% of the current inventory). Sellers are saying “carpe diem” and listing while inventory is low, and buyers are competing for homes in the No. 4 “Best Place to Live” according to the 2017 U.S. New & World Report.

But don’t think we’ve found the pot of gold at the end of the rainbow just yet. The DC Metropolitan area, as you know, is comprised of a variety of unique communities that are all responding differently to the current economy. Every jurisdiction in our area saw a decrease in the “Median Days on Market” from last month and from this time last year (averaging 28 days on market, while listings last year took a median of 44 days to sell). However, some locales saw a dramatic change in sale price that may account for this quicker turnaround: in Alexandria, it dropped 10.8%. The area on the whole saw an increase in sales price, but it’s about as predictable as the weather forecast of that “blizzard” this week!

Wydler Brothers Is Growing: We proudly welcome the newest members of our brokerage!

Elizabeth Bucello

Elizabeth Bucello

Elizabeth Bucello

After 10 years of working in private and international banking in Manhattan, NY, Elizabeth moved to Bethesda, MD and instantly fell in love with the Washington DC area. She decided to combine her love for Real Estate and the beautiful D.C. area with her desire to help Buyers and Sellers achieve their dreams.

Having moved from South America to North America and also within the U.S. a few times, Elizabeth has a lot of empathy for anyone relocating, upsizing or downsizing. Elizabeth’s goal is to make her clients’ experiences as easy and enjoyable as possible. She realized early on that all of us (regardless of background, culture or country of origin, etc.) want what is best for our families. Elizabeth is fluent in English and Portuguese and in her spare time she loves to travel with her family, exploring new countries and cultures.

Lindsay Clark

Lindsay Clark

Lindsay Clark

Lindsay has lived and worked in Washington, DC for more than 15 years and and loves exploring the diverse neighborhoods of the DC metro area. Lindsay brings an analytical mind, sharp negotiation skills, and in-depth market knowledge to every transaction. She is a true partner and advocate for every client. Additionally, her professional and collaborative approach with colleagues keeps the process moving forward for her clients. Currently, she lives in the Shepherd Park neighborhood of DC with her husband, four daughters, and their dog Stella. She loves running, traveling, and spending time with family and friends.

Coming Soon to a Mailbox Near You

Coming Soon to a Mailbox Near You

Coming Soon to a Mailbox Near You

If you’re in the mood to do some Spring cleaning, be on the lookout for our newly printed Vendor Directory. Inside, we have a comprehensive list of our favorite service providers who can help with painting, landscaping, lighting, cleaning the gutters – you name it and it’s in there. If you do not receive one, please reach out to us and we will drop one in the mail to you right away.

In The News

D.C. makes list of top 10 happiest places to live

D.C. makes list of top 10 happiest places to live

D.C. makes list of top 10 happiest places to live

You know how your mom would always tell you “money can’t buy happiness?” Well, as much as we hate to contradict mom, the findings of a recent Wallethub study say she’s wrong. Financial well-being does contribute to an individual’s happiness, but only up to an income level of $75,000 annually– any higher, and money ceases to influence a person’s contentment with life. Read more here.

Winter Storm Stella’s effects on D.C.’s cherry blossoms

Winter Storm Stella’s effects on D.C.’s cherry blossoms

Winter Storm Stella’s effects on D.C.’s cherry blossoms

For the first time in nearly a century, the cherry blossoms may not hit peak bloom

Read more here.

February 2017

February 2017 News

Feb
14
|

Dear Friends and Neighbors –

It may be cold outside, but love, chocolate and flowers can warm the heart and hearth! With love in the air, we wanted to share some quotes about kindness, as we all know that a helping hand can lift a spirit. We hope you know we are always here to help – so please do not hesitate to reach out to us if we can be of any assistance on the real estate front.

Market Overview

January was a relatively active housing market. The market is tightening, with a median sales price of $390,000 at the highest January level of a decade, sales and pending sales at decade highs and declining inventory levels for the ninth consecutive month. Sales volume across the DC metro area was nearly $1.5 billion, up 19.5% from last January (which probably has something to do with the snowstorm last year).

While the overall DC market tells one story, you really have to dig deeper to understand the nuances of submarkets. For example, in McLean, the total sold dollar volume is down month-over-month by 12.3%, closed sales are down by almost 10%, and days on the market are up by 20%. That said, the average sold price is up by almost 9% at an average price of $1,447,953. In Chevy Chase, the data is similar: total sold dollar volume and closed sales are down by 22%, although the average sold price is relatively unchanged at $1,227,813. In spite of the decrease in sales, the lack of inventory signals that the DC Metro Area is still a strong seller’s market.

Wydler Brothers In The News

Great tips on how to take care of your home with the eyes of a buyer, brought to you by Hans and Steve Wydler.
Read more here
.

Keeping it REal:
Your Real Estate Questions Answered

What is your best quick tip(s) for clients who need to make their house look clean in a pinch for a last-minute showing?

The best advice is to DECLUTTER! Here are some quick ways to do this:

  • clean off tops of all tables
  • replace all towels/dishtowels with clean or new ones
  • clean up yard (and if seasonally appropriate, buy potted plants for front steps)
  • light a candle and put on nice, soft music

Cleaning your front door also makes a big difference! If you have the time to paint it, great. If not, be sure to clean the windows in the door (if applicable) and wipe it clean.

We would really love to hear from you if you have Real Estate questions/topics you’d like to see covered. Please send your questions here and we will be happy to answer these in our next newsletter.

In The News

How D.C. home prices stack up, neighborhood by neighborhoodWith 20 neighborhoods to choose from, see which areas of the city are the most and the least expensive for buying
Read more here.
Nestlé USA, the maker of Häagen-Dazs, Baby Ruth, Lean Cuisine and dozens of other mass brands, is moving its U.S. headquarters to Arlington’s Rosslyn area, bringing roughly 750 jobs to a part of Virginia struggling with widespread office vacancies.
Read more here.

January 2017 News

Jan
23
|

Dear Friends and Neighbors –

Each new year brings a fresh start, new ideas and a renewed sense of possibilities. It also seems to be the time when we are more focused on our indoor space due to the colder temps. What better time to declutter your space and help with that fresh perspective?! See article below for a great way to declutter your home and your life. Get started!

Market Overview

Three weeks in and 2017 is shaping up to be anything but ordinary. On the real estate front, we are seeing signs of an early Spring market, and hope that with the inauguration now behind us, things will really start to pick up. We are hopeful for a few reasons:

1. Mortgage Rates:
With rates increasing, we expect buyers to come out of the woodwork early to lock in rates. If the rate of increase is measured, we think the medium/long term impact to the market will be minimal. However, if there is an unexpected spike in rates, the market could seize temporarily.

2. Inventory:
Inventory is still low. We are encouraging our sellers to get their homes to market as early in the season as feasibly possible to take advantage of reduced competition.

3. Financing:
Even though rates are on the rise, credit is easier to come by. In fact, the FHA recently announced it will increase lending limits for 2017 which will provide more flexibility, especially for first time home buyers. Lenders are bringing a number of new mortgage programs to the table, and smaller banks and non-bank lending institutions are entering the playing field as well, all of which should increase available options to consumers.

So if you’re thinking of buying or selling, it is NOT TOO EARLY to call us. The Spring market is here NOW. January is off and running, so please give us a call if we can help you get started with a search or sale.

Sue Hutchings HazenSue Hutchings Hazen

Sue Hazen is a native Washingtonian. Born overseas, yet raised primarily in McLean, Sue has a unique understanding of the area and the specific strategies necessary for success in this fast paced and challenging real estate market. Extremely well organized and technologically adept, Sue promises to provide her clients with the utmost in customer service, delivered efficiently, decisively, and with compassion and confidence. She is a graduate of McLean High school (’88) and Radford University (’92) and lives in McLean, with her teen sons, Trevor and Nathan.

Gitika KaulGitika Kaul

Gitika is a four time Emmy award winning television producer turned REALTOR. After nearly two decades working for ABC News, Gitika is now applying her creativity, strategic thinking and high energy style toward helping her clients achieve their real estate dreams. Gitika appreciates the nuances of each client’s needs and prides herself on providing hyper-personalized service, keeping in close contact with her clients every step of the way.

Gitika holds a B.S in Journalism from Boston University. In her free time she enjoys exploring D.C.’s exploding culinary scene (without kids), hosting playdates (with kids), and shopping for a good bargain.

Keeping it REal

We would really love to hear from you if you have Real Estate questions/topics you’d like to see covered. Please send your questions here and we will be happy to answer these in our next newsletter.

In The News

Everyone has some junk or clutter lying around the house that they’d be better off without…
Read more here
.
 We love stunning renovations and exquisite remodels as much as anyone…
Read more here.
 Various real estate entities have weighed in with their prognostications for the 2017 housing market…
Read more here.

December 2016 News

Dec
16
|

Dear Friends and Neighbors –

As we approach the year’s end, we want you to know how grateful we are…for your friendship, your support, and your enthusiasm. As you know, we started our own brokerage earlier this year and are thrilled to announce that 2016 was our best year ever! We have doubled in size and are so honored to have 50 of the best and brightest in the business by our side.

We love the relationships that we have built over the years and look forward to a bright future together. As we approach the holiday season, we hope you enjoy some downtime with your loved ones and focus on what’s most important: family time.

Merry Happy Everything!

Market Overview

While 4,264 new listings hit the market in the entire DC metro area, it didn’t have much affect on the region’s chronically low supply of homes for sale. The 9,147 total active listings in November represented a 12% drop from October and a 14.4 % decrease from last November. This is the seventh month in a row that inventory levels have dropped on a year-over-year basis.

In McLean, the average sold price of $818,602 is down by 18%, with days on the market increasing from last month and last year. In Bethesda, the average sold price of $938,760 was down year-over-year by 7% with an increase in days on market of 24%. Not surprising to see that Washington, DC median sales price is up more than 4%, while Arlington County and Alexandria City are the only jurisdictions to see declines in year-to-date prices versus 2015.

We are cautiously optimistic about the market next year. It is never too early to prepare a home for sale, so we anticipate a natural uptick in activity after the holiday rush. In the upper bracket, there will be a lot of movement when when private schools send out their acceptances, which is usually in early March. And with Easter and Passover overlapping in April, we expect a big pop when the weather breaks!

Why Selling Your House
during the Holidays Makes Sense

11. Less Competition
Many folks don’t want the hassle of keeping their home on the market during the holidays and decide to take it off till the new year, but that’s exactly why you should keep it on market. Reduced inventory means more buyers checking out your home.

2. Motivated Buyers
Anyone who finds time to look at your home during the busy holiday season is a serious shopper. Whether they are relocating, need to buy a home for tax reasons, or simply haven’t found their dream home, be flexible with showing times and open to contract negotiations and you may just sell your home in December!

3. Your house looks great
Having your home decorated nicely, with little clutter, makes it easy for people to imagine their own families celebrating their holidays in your lovely home. Be sure your decorations enhance, not detract from, your home.

Wydler Brothers Is Growing: We proudly welcome the newest members of our brokerage!

Jordan HendrickJordan Hendrick

Jordan is the Listing Coordinator for Wydler Brothers’ Virginia office. Prior to joining Wydler Brothers, Jordan worked in real estate as a Marketing Director and Listing Coordinator where she learned the ins and outs of the industry. She graduated in 2011 with a B.S. in Design and currently lives in Silver Spring, MD. In her free time, she enjoys traveling, trying new restaurants, and attempting various DIY projects.

Kyle RuemplerKyle Ruempler

Kyle is the Contract & Special Event Coordinator of the Wydler Brothers’ Virginia office. From the Northern Virginia area, Kyle studied Music & Studio Art at the University of Virginia, graduating in 2014. He then worked for UVA’s Department of Music for two years while serving as the conductor and music director for the Rapidan Orchestra. Kyle moved back to the area in summer 2016, and is excited to join the Wydler Brothers’ pursuit of innovation in the world of real estate.

In The News

15 Ways To Prepare Your Home For Winter15 Ways To Prepare Your Home For Winter

Read more here
.

25 Ways To Fight Holiday Stress25 Ways To Fight Holiday Stress
Read more here.

November 2016 News

Nov
16
|

Dear Friends and Neighbors –

Well, that was a crazy week! And now, after a seemingly endless presidential campaign, we have a new president elect. Whether you are for, against, or anywhere in the middle, we will take the political route and try to answer the burning and narrow question, “How might a Trump presidency affect the local real estate market near and long term?”

Before answering that question, however, I want to take a moment to say “thank you.” As we approach Thanksgiving, I am reminded of how fortunate I am to work with such wonderful people who feel like my extended family, and for you! Thank you for your trust, loyalty and friendship, and for supporting my business. I wish you and your family a very Happy Thanksgiving.

McLean Annual Holiday Homes Tour
Save the Date: Dec 1st!

Overall, the DMV fall housing market has been fairly normal — we’ve seen inventory being absorbed and demand picking up slightly. That being said, we’ve seen a slow down in buyer activity over the last couple of weeks — presumably, the elections were to blame.

The DC metro housing market has stabilized. While prices are flat region wide — October’s median sales price of $400,000 is only a 0.3 percent increase over last October’s price — they are masking more significant movements in local sub-markets. For example, prices rose year-over-year in DC proper and Montgomery County, by 5.6 percent and 3.7 percent respectively, but fell in Arlington County by almost 9 percent.

What we’re seeing now is best described by one of our business partners, Jonathan Okun, a Senior Mortgage Consultant at Prosperity Home Mortgage.

As a Trump presidency began to take shape we saw the market react exactly as we expected – Stocks lost significant value and Bond yields (rates) fell as investors sold stocks to buy bonds. We ended Tuesday with a 1.856 yield on the 10yr US Treasury and it fell all the way to 1.715 or so around midnight.

Then something a bit odd started to happen (and is continuing) –investors started selling treasuries and driving yields (rates) back up. Not many people expected that to happen, but the basic commentary seems to be that international investors made the knee jerk reaction to simply exit US assets and move them other, ‘safer’ places like the Swiss Franc, Japanese Yen, Gold, etc.

1

Above is the 10 Year Treasury Yield since last Tuesday (the market was closed on Friday for the holiday) and as you can see the Yield keeps on going higher and higher and interest rates are therefore doing the same. This means a few things:

1. If you have just started looking to purchase within the past few weeks or so, you might not be comfortable in the price range you originally thought. Sellers – you should know that this will impact you as well as the fact that the pool of buyers that were comfortable buying your house has gotten smaller.

2. Buyers should know that although rates are higher now (about .375% – .5% higher than just 1 week ago), they are still historically low. Everything is perspective and knowledge in power.

To reach Jon Okun for more info or help with a loan, contact him at  jonathan.okun@phmloans.com.

Susan Sonnesyn Brooks

Susan Sonnesyn BrooksSusan loves life as a real estate agent ~ it’s a job where every day is different. Previewing homes and networking with other agents on her clients’ behalf keeps her matchmaker’s brain engaged. Handling the details of specific transactions meets her former journalist’s need for deadlines ~ and getting a job DONE.

Susan has been in real estate for nearly 13 years, and was a top-producing agent with $15 million in sales in 2015.

Originally from Colorado, Susan has lived in the Washington area since 1987. She has a B.A. from Colorado College and a master’s in journalism from the University of Missouri. She and her husband, have three grown children and live in the Glen Echo Heights area of Bethesda.

Laura Quigley – Agent Success Partner

Laura QuigleyLaura is a real estate professional with more than 25 years of sales and marketing experience. A former executive in the telecommunications industry, she brings management and operations background to the Wydler Brothers Real Estate brokerage. Originally from Upstate New York, Laura relocated to the Washington DC area in 1998. A second generation Realtor, she loves working with clients through the home sale and purchase processes, especially helping ease the transition when moving to a new area.

As our Agent Success Partner, Laura works with our agents to ensure all contracts are professionally closed for our clients. She lives with her husband in the Burning Tree neighborhood of Bethesda and enjoys cycling, skiing and relaxed meals with family and friends. Laura has an MBA from SUNY Binghamton and a Masters in Telecommunications Management from NYU Polytechnic.

 

Read more here

Read more here.

Read more here

Read more here.