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.
Data, measurements, statistics, calculations. The different terms for real estate stats seem endless. You may hear these descriptions, but what use are they really and how are these numbers relevant to your transaction? One form of calculation is called the Absorption Rate. Also known as “the months of inventory based on closed sales,” it is a way of knowing how much time it would take to sell the homes currently listed. By using this form of calculation, you can determine whether it is a seller’s or buyer’s market. Studying the Puget Sounds’ low Absorption Rate will enable those selling to maximize their potential in today’s real estate 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:
Updating your own place is one of the many enjoyable aspects of owning a home. Everyone loves to dream. Sites like Houzz and Pinterest are popular because planning a project is so much fun. King 5 television recently discussed a Remodeling Magazine study of the amount of return on investment (ROI) for certain home upgrades, naming the top 5 for Seattle. While homeowners are hopeful that an upgrade will increase their home’s value, not all projects are created equal. Although updating the kitchen and bathrooms have generally been at the top of any list, this year they have been displaced by those items that have to do with curb appeal.
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.
Mismatching colors may have been the rage in the 80’s, but in today’s real estate market, you may want to avoid stark contrasting colors and materials. Planning is a major component to a house sale. Much preparation may be done over the months leading up to listing. In fact, during the years living in your house, the décor you choose may eventually play a part in your overall value when you do decide to sell. Have fun, be original and make your house your own, but remember, miss-matching could cost you money. The following are some common mistakes that sellers make when trying to maximize value:
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.
In a hot seller’s market where there are always multiple offers on listings, buyers are scrambling to give their offer the edge in bidding wars. When you buy a home, there are many contingencies on the checklist, including inspections and financing. And while they can protect a buyer from unforeseen issues that may happen after the transaction closes, it may be worth waiving one or more of them.
Real Estate Data Analysis, Real Estate Market Trends, Selling, Real Estate Broker, Local Real Estate
These days, you can’t seem to go anywhere without someone talking about real estate values. A common discussion of how much value a homeowner’s house has gained can be heard at most any get together or neighborhood Starbucks. With the press constantly writing about the real estate market, these discussions can be quite competitive. Depending on where you live in King County, last year, your value may have increased between 10-20 percent. While someone living in Seattle has seen some of the largest gains in the country, the rest of King County has also benefited from our region’s demand. But how has the rest of King County increased compared to Seattle, and is the big city really the big winner in this value battle?
Thinking of moving to the Pacific Northwest? You're not alone. In 2017, Seattle and Portland were the 1st and 3rd most popular cities for relocating residents*. With bustling economies, a diverse variety of cuisine, and endless recreation possibilities, it's no wonder. But how do you choose the perfect neighborhood in these big cities?