There are now several options for the Wizards. That is a good thing because the 11th spot is generally a reactionary spot, meaning you are picking based on a hell of a lot of action 1 through 10.
If Wagner falls to 11 they can grab him and use the 17th on a SF. If they grab a SF at 11 then they can look for a PG at 17. I think this is what they have planned for but made the move now so that they could be in a position to do something with those picks on Draft day, a luxury they wouldn't have with them trying to make the deal with the Hornets tomorrow.
That would at least explain the timing of not waiting until the draft.