The Wethman Group's Real Estate News - January 2020

 

I know it sounds crazy, but the Spring real estate market has already arrived. Yes, in January! Frustrated buyers from 2019 never stopped looking and homes that are going on the market are selling NOW, often with multiple bids. For sellers with a home that has some 'flaws' that may make them compare unfavorably to competition in Spring (i.e., busy road, a fixer upper, outdated features), this is the perfect time to get on the market as quickly as possible. Buyers, you need to start looking NOW -- don't wait til Spring when other buyers are ALL out; we're not expecting huge jumps in inventory this year, and interest rates remain at historic lows.

Greater Greater Washington had a great story looking at the size of our DC Beltway superimposed onto other cities. Check out the story here. Looking at their maps, the Seattle map was particularly interesting given Amazon HQ2 and its impact on our market. Seattle's equivalently sized "Beltway" (pictured at left) is mostly water, and has some pretty serious commuting bottlenecks, which, combined with their heavy concentration of jobs at Amazon, resulted in their crazy real estate market as Amazon grew. Our area looks very different both in terms of geographic advantages as well as the ability to absorb a high number of jobs more easily. On a related note, we enjoyed reading ARLNOW's column with a deep dive into HQ 2 zip code 22202 statistics (and Part II here). Be sure to follow our updates at our National Landing Account on Instagram here!

 

Confused about how it will impact buying or selling in Arlington? Contact us for more info!

 

 

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