Business & Technology | Nation adds 200,000 jobs in December hiring surge | Seattle Times Newspaper

Business & Technology | Nation adds 200,000 jobs in December hiring surge | Seattle Times Newspaper

As I stated in my last post, "Things are Heating Up". You can feel it out there. My friend Terry who sells Precor Fitness Equipment nationwide said their retail sales are up significantly over last year. I have other friends in all walks of business who are feeling and seeing growth, keep it rolling.

Things are Heating Up

Even though it's winter the local Real Estate market is heating up. While the media paints this doom and gloom picture there are bright spots. Kirkland west of 405 is hot, we are seeing multiple offers on a regular basis. The entire Eastside is doing well, inventory is down 36% vs. this time last year. Yes; we have our foreclosures and short sales and they do keep prices down but that will slowly change with decreased inventory levels.

Clue #1 our market has a bright future. Toll Brothers a upscale national home builder bought Cam-West last month for a reported $113 million dollars. Think about the market research Toll did before entering our market, a great sign of positive things to come.

Two Rings and a Home.

Good reading about Buffett's story on home ownership in the story below this post.

Buffett Says Buying His Home for $31,500 Was Third-Best Investment He Made - Bloomberg

Buffett Says Buying His Home for $31,500 Was Third-Best Investment He Made - Bloomberg

Short Sales: What is your time worth.

The article below (NWMLS stat comment) is true. I have been involved in three short sales, one was a smooth transaction the other two were very frustrating. Just because it is a short sale does not mean it is a great deal. You can get the price you want on a non short sale home, close it in 30-45 days (not 4 to 6 months) and move on with your life. Like anything else you buy the market dictates pricing. Pick the home you love, the neighborhood you like and get a great price in today's market. Between the information home buyers have at their fingertips and utilizing an experienced Real Estate broker you can get a smokin deal on a normal home without the hassle and complications. What is your time worth?

NWMLS stat comment: Some buyers looking for predictable deals - Real Estate - MyNorthwest.com

NWMLS stat comment: Some buyers looking for predictable deals - Real Estate - MyNorthwest.com

The Market is Heating Up.

YES it is true, our local Real Estate market is starting to wake up after a dismal 3.5 year hibernation. Sales numbers are up and prices remain at the bottom for the short term. Most real estate agents I have talked to this month are showing and selling more homes. When you are out there you can see it and feel it, the energy level is very positive. I have been showing quite a few homes this month and just about everywhere we go there are other agents showing the same homes.

If you are thinking of buying you may be running out of time to buy at the bottom in addition to financing at the still record low interest rates. A great example of a local area that has seen it's bottom and where prices are on the rise is West Bellevue (Medina, Clyde Hill, The Points and Enitai). This area has always been a accurate barometer of where our market is headed. If it is happening here it will not be long until the rest of the Eastside catches up.

The other positive sign is builders are buying lots and land at a pace I have not seen in four years. Their primary focus is in Bellevue, Kirkland, Redmond and Issaquah.

Matt