Fences & Flowers

The CB Bain Blog

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.

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.

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. 



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