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?
Sunday, February 6, 2011
Short Sales: What is your time worth.
Sunday, January 23, 2011
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
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
Thursday, December 30, 2010
StreetInsider.com - Schiff: Look Out Below! Home Prices to Fall Additional 20%
StreetInsider.com - Schiff: Look Out Below! Home Prices to Fall Additional 20%
In my previous post I pointed out that interest rates are going up and in most neighborhoods in our local market prices are still dropping. The Exception: Neighborhoods close in to Bellevue and Seattle are seeing impressive sales. This article is an accurate snapshot of the U.S housing market; but keep in mind every market is different and micro housing markets exist in every area.
In my previous post I pointed out that interest rates are going up and in most neighborhoods in our local market prices are still dropping. The Exception: Neighborhoods close in to Bellevue and Seattle are seeing impressive sales. This article is an accurate snapshot of the U.S housing market; but keep in mind every market is different and micro housing markets exist in every area.
Time to Jump off the Fence
The attached article (Mortgage Rates Surge in Recent Weeks) posted on my blog may be enough motivation to buy a home (If you are in the market). Rates will not go lower, although I believe in most of our local markets home prices will still drop a bit. It really depends on the location. The closer you are to the hub of Bellevue and Seattle I am seeing strong sales activity and less inventory. As you get further from the hubs inventory levels are still high and pricing your home to match the market is critical.
Tuesday, December 7, 2010
http://seattletimes.nwsource.com/html/businesstechnology/2013611428_homesales07.html
http://seattletimes.nwsource.com/html/businesstechnology/2013611428_homesales07.html
Great article, The truth.
Matt
Great article, The truth.
In all of my years in Real Estate (23) you can usually spot trends and make predictions as to where the market is going. This is the first time I have to admit "I really do not know". At the beginning of 2010 I believed we were close to the bottom, I was wrong, 2011 will be interesting. The one truth in Real Estate that never changes is " Location, Location, Location. Homes in the most coveted neighborhoods continue to sell at a fair pace and they have depreciated less than their competition.
Matt
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