Fences & Flowers

The CB Bain Blog

For years, the chatter has been about the soaring real estate market. With double digit value gains and very few listings to choose from, Sellers enjoyed a market that favored them by a considerable measure. Now, as we begin a new year, to the casual observer, it appears that the tables have turned. It could be assumed that the market has flipped to favor buyers. While prices have cooled, and inventory has increased, market corrections have benefited both the buyer and seller.

Dramatic changes in our local real estate market continue. Yes, it’s a new year, but will home prices go up or down? Will buyers come back or stay on the sidelines? Will sellers continue to flood the market or put the brakes on, once again constricting available inventory? The truth is - we don’t yet know.

These last 5 months have seen dramatic changes in the real estate market in the
Puget Sound region. Home prices are down, mortgage interest rates are up, equity
has been lost. Fortunately, for homeowners, equity continues to increase year over
year, though it has slowed its rise. Buyers also have increased leverage when
putting in an offer.

As the market changes, preparations for showings are more important than ever. Getting your house to the listing stage is a huge accomplishment. Removing personal items from view and achieving a spotless house is a chore for many. Now it’s time to go live and activate your listing. Don’t let all your hard work go to waste. A buyer’s visit to your listing will be a determining factor whether they place an offer. Because showings often come quick and rapid, you want to be prepared. The following are some helpful tips to keep your house prepared for showings:

These days, when listing a home for sale, a seller will have a choice of either reviewing offers as they come in or all at once on a specified future date. While reviewing at a later date may seem like the correct choice in this market that favors sellers, there are factors to consider before that choice is made. Although one method may seem like the better option, both have their merits.

Home price increases are beginning to cool in Seattle and surrounding areas. With any big shift in the market, we often wonder what the future holds. We also wonder: What affects housing price to begin with?

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:

In the 80’s ZZ Top sang about having a Party on the Patio. Now, outdoor living space has become an extension of a home. While patio furniture used to be commonplace, the options now to spruce up your patio are just about endless. The latest and greatest seems to be the way of the housing industry. In my experience, home buyers are always looking for the next trend.  With new construction, where new trends often begin, outdoor amenities, like covered patios with a fireplace, are becoming common place. The following are some of the popular outdoor living space conveniences.

On first look, the early half of 2018 may seem like a broken record, with more of the same. No inventory and a high number of buyers. However, believe it or not, the real estate market is on a rollercoaster ride. It may be one of those kiddie rides at the fair, but nonetheless, there are some ups and downs taking place. In this mid-year market update, we’ll discuss the King County real estate market patterns through the first half of 2018.

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.



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