Seattle’s visitors and new residents often gravitate toward the common tourist attractions that are, deservedly so, at the top of any list of things to see. Pike Place Market, the Monorail running to the newly renovated Space Needle and Mt. Rainier are well worth exploring. But it’s through the back doors where many really start to uniquely weave their lives into the historic fabric of our city.
Real Estate Market Trends, Real Estate Data Analysis, Local Real Estate, Selling, Buying
The higher real estate prices moved in Puget Sound these past couple of years, the more concerns grew that we were climbing closer to the peak of our market. Last June, those concerns materialized. Here are just some of the possible factors that catalyzed our region toward a sense of balance…yes, that’s market balance:
Homeowners who’ve made the arduous decision to sell their place have plenty to do to prepare for the day when their home hits the market. The condition of the house - inside and out, the age of the sellers - older or younger, and the homeowner’s level of desire to control the preparations will be factors in creating a well-considered timeline.
As we may be tipping off the fevered pitch of the residential real estate market here in the Pacific Northwest, it’s a good idea to highlight some valuable credentials awarded by the National Association of REALTORS® or its affiliates. These designations may be recognizable and valuable to potential home sellers or buyers as they search for brokers who will best assist them in navigating our ever-changing market.
In the ever-convenient world of online meet and greets, there are plenty of reasons to dive deep when interviewing real estate brokers. Certainly, some of that can happen via phone, direct message or chat, even by email, but once the field is narrowed down, the conversation should continue offline whenever possible before choosing your broker. Here’s why it matters:
An ethical and hardworking real estate broker has the best interests of the client in mind at all times. When working with a seller, it’s clear that we want her to benefit financially as much as possible from the sale of her home. But, that’s only the end result. The best brokers will also initiate some hard discussions about what it will take to show the home and its features in the best possible light.
In Seattle, where median home prices jumped $20,000 in a single month to $777,000, homebuyers are beginning to consider whether a home’s aesthetics and functionality warrant its purchase price. Sellers are also feeling the pressure of competition where it’s becoming necessary to pay for neglected repairs, consider minor renovations, apply a fresh coat of paint and stage the home appropriately in the hopes of attracting a hoard of buyers.
Rightfully so, future homeowners have lots of questions about how the new tax laws affect presumed advantages to owning a home. It’s true that some significant changes took effect January 1, 2018 such as the allowable interest deduction on mortgage loans and the deduction of state and local taxes which also includes the payment of property taxes.
Everyone knows that size matters, right? Home buyers are perhaps looking for a larger home, a big yard for the kids, a 3-car garage while sellers are looking for the possibility of an escalated purchase price, giving them the largest “profit” or equity return on what is often their single largest investment. Of course, these common objectives are completely valid but unique to every individual or family.
The frenetic pace of our current real estate market opens the door for homebuyers to use creative tactics when searching for their dream home. It’s important to weigh the pros and cons of such methods as well as the additional time it takes to initiate unconventional search campaigns.