Fences & Flowers

The CB Bain Blog

Buying or selling a home is a lengthy process filled with paperwork and discussions. You might hear a lot of crazy terms and acronyms thrown around. MLS, BOMK, CMS… it all becomes a blur! So, what do all those terms mean?

I just heard from my longtime pal, Steve, who shared the news that he and his wife had just sold their beautiful houseand would be moving in three weeks. I was surprisedto hear this because theirsweet little bungalow was their empty-nester home, the smaller place they’d down-sized into after their kids had grown and gone and begun families of their own. Plus, Steve’s green thumb had turned the yard into a real standout. But things change and now, to be nearer the grandkids, a move was in order.

When I decided to sell my beloved first house in late 2009 it wasn’t a particularly good time. We were a year into the Great Recession and home prices were down. Way down. Having owned the house for 14 years and substantially improved it, I still made a handsome profit on its sale. But had I waited a few years my proceeds would have been greater. On the other hand, lower home prices meant I got a smoking deal on the house I bought, which wouldn’t have happened even a year later and would be unimaginable in today’s red-hot market.

Dreaming of a new home can be fun and exciting. But when you’re ready to begin the buying process, it can be overwhelming. Where do you start? Should you move to a different state? Should you stick around? Do you want a different kind of home? Is the busy city calling your name or are you content with rural peace and quiet? How can you find the best real estate agent and lender?

In the Pacific Northwest, the real estate market is on fire. It’s been a seller’s market for a while, and 2017 is showing the same trends. Folks want to live here, and we can’t blame them. But finding the perfect home with such low inventory is tough. And winning the bidding war? That’s an even bigger challenge. So what’s a buyer to do?

When you’re selling your home, there’s so much to think about. Curb appeal, open houses, marketing your home… the list goes on. Selling in the fall means less daylight, so it’s time for you to light it up!

In Seattle, it’s definitely a hot real estate market. With all the latest corporations hiring throughout the area, there are simply more people moving here than there are selling. Consequently, listed homes are snatched quickly, often with dozens of offers made during the negotiation process. So what’s a buyer to do?

What comes first; the chicken or the egg? In the world of real estate, inspections usually come after an offer is made. But right now, in Seattle and many other seller’s markets, pre-inspections are becoming more and more common.

Our market is truly feeling the sense of supply and demand. There are not enough properties to sell! We really need listings! Inventory (supply) is very low and the pool of buyers (demand) is very high.

Congratulations! You’ve been pre-qualified by your mortgage lender. Or is it pre-approved? It doesn’t really matter does it? What’s the difference, right?



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