Have you ever invested in a stock that was labeled “hot” on the front page of a local newspaper? If you have then you are familiar with the analogy “that ship has sailed”. The local housing market is in a similar state. Local headlines have sellers feeling unrealistically bullish of late, and it’s not just about price. We are beginning …
“They love the home but feel it will go over list price and do not want to get into a bidding war.”
I just received this comment from a showing broker this morning. This is the type of feedback we have received on our listings that causes us to promote some standards by which both sellers and buyers may be treated fairly in this unusually tight market. 4 days is long enough to gather enough offers. To go longer will frustrate more …
City Home Prices Up 18% From A Year Ago…kinda sorta, not really
Perhaps this Seattle Times headline caught your eye yesterday. It was the hot topic everywhere I went. Sorry, but no, your house did not appreciate 18% in twelve months. 95% of the housing stock did not appreciate 10%. Only select pockets experienced appreciation in excess of 4%. Allow me to explain: As is often the case, a lot of folks …
It’s Finally Happened
As we predicted here beginning 3 months ago, the Seattle Times has finally caught up with the changes in the local residential real estate market that have been evolving over the last 6 months. This is great news, especially for those that have been “under water” the past few years. However, we predict a caveat accompanies this news: the shortage …
Consider A Pre-Listing Inspection
This is our most trusted competitive weapon of late. We counsel our clients to consider investing in a professional “pre-listing” home inspection as an integral step in preparing their respective properties for the market. Why do we do this? Every buyer is likely to have a professional inspection conducted as part of their purchase and sale agreement, and it makes …
Ken Harney [“Nation’s Housing”] Article Bodes Well….For Sellers
Having followed Ken Harney’s writings for almost 15 years, I know that it is uncharacteristic of him to use GOLLY GEE headlines. So when he pulls out the stops and blares: “HOME EQUITY VALUES ROAR BACK” as the accompanying headline to his nationally syndicated housing column in the Saturday, January 6 Seattle Times, I think it best that homeowners, and buyers, sit up and …
Northwest Traditional Style Homes Will Outpace Market
For me, one of the most enjoyable aspects of selling residential real estate in the Northwest has always been the appealing architecture of our home grown traditional styling. The large-ish local builders have taken pains over the years to build homes that exuded classic styling without being absurdly ostentatious, and were a bit above “affordable”, at least in the late ’80’s …
Over-The-Top Home Inspectors
If you’ve been a broker for 5 years or more you’ve probably come across the “OVER-THE-TOP” home inspector. Either your Buyer received a referral from someone around the water-cooler at work, or it is your listing that is being subjected to an unusual approach to home inspections. We understand that home inspectors look for competitive advantages to obtain more business the …
Solution To The Home Inspection Contingency And Inherent Problems aka “MLW”
Home inspections are the most crucial juncture of every residential property transaction. When a Seller and Buyer finalize negotiations on the terms of a purchase and sale agreement, everybody’s happy. As brokers, we explain to our clients that what they’ve accomplished is no more than “agree to try to agree”. The inspection contingency contained in virtually every transaction is where the …
Eastside Market Impact of Foreclosed Properties
Reading the Seattle Times Business Section article today, “HOME SALES IN KING COUNTY UP IN 2011; NOT PRICES”, I became curious as to exactly how sales of foreclosed properties are in fact impacting the King County Eastside market areas. I limited my sampling of sales data to quantities that I could handle and concluded that: 1. In various price ranges from …