Friday, July 13, 2018 / by Gabby Bauer
Inventory on the Eastside just JUMPED in the last two months. Making more homes available is key for First time home buyers finding success in a challenging market. You may not have to hurry out to a listing or you may not find yourself in a multiple bid situation. Hurry and get pre-approved before interest rates jump again.
There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still, some others might think their current incomes would never enable them to qualify for a mortgage.
We want to share what the typical first-time homebuyer actually looks like based on the National Association of Realtors’ most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:Bottom Line
You may not b ...
Wednesday, June 27, 2018 / by Gabby Bauer
King County & Eastside Home Sales Report
King County Home Sales Report shows record sales. In May, King County Closed Sales saw a decrease of 5.50%. The median house sales price in King County was up 16.06% over last year to $650,000. In May the Eastside closed sales went down to 4.76% and the median home price grew by 14.09%.
Inventory Continues to Decline
According to our King County Home Sales Report pending sales across King County also showed a decrease of -3.06%. In May, the number of total active listings went up to 38.71% from May of 2017. The Eastside saw pending sales were up 39.77% but inventory declined 0.65% with less than an month of available inventory. For additional details, see the May raw numbers from the Northwest Multiple Listing Service: NWMLS-May-2018
Market Action Index
For our King County home sales report market activity has declined in ...
Tuesday, June 26, 2018 / by Gabby Bauer
Bellevue Luxury Homes have seen also seen a growth in appreciation with homes in the following price bands showing gains. I wouldn’t say the Luxury Market is super hot, because homes at this price point are a discretionary spend.
The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax reform legislation was put into law at the beginning of the year, some experts felt that it could have a negative impact on the luxury housing market.
“The impact on expensive homes could be detrimental, with a limit on the MID raising taxes for those that itemize.”
Mark Zandi of Moody’s Analytics:
“The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.& ...
Friday, June 8, 2018 / by Gabby Bauer
“In this hot market, some sellers are thinking that they can maximize their profits by taking on the role of the agent. The statistics simply don’t support that. The truth is, you wouldn’t be your own attorney and you wouldn’t perform surgery on yourself. To maximize your sales price get a true professional involved.” – Dan Edwards
In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.
However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets. The data showed that:
“FSBOs tend to se ...
Monday, June 4, 2018 / by Gabby Bauer
You’ve decided to use a seller’s agent to help you list your house for sale. You’ll probably be glad you did. But finding the right real estate agent to fit your particular needs, whose personality matches your own, with mastery in the niche you need, who’s an expert in your area, now that’s a tall order. Here’s an ultimate guide to how you can choose the right real estate agent to help you sell your home.
What is a Seller’s Agent?
A seller’s agent is the real estate agent who represents the homeowner in the process of selling his, hers, or their house.
When you hire a seller’s agent, you must realize that you are not your real estate agent’s employer. Instead, you agreed to enter into a working relationship with a professional who is educated and experienced in the real estate industry with specialties in advising homeowners, marketing, and facilitating the sale of residential properties.
It’s Bigger than ...