Real Estate - Keeping it Simple

As I have mentioned before, the real estate inventory is creeping up yet it is still way below a "normal" inventory market. To be considered a normal and stabilized market for both buyers and sellers we would need to have 4 to 8 months of inventory. In also included my thoughts on buyers trying to renegotiate their buyer broker services agreement with their Realtor/real estate agent on the day of making a formal offer on a home.

We are seeing more homes come on the market and with those for sale we are seeing homes selling, some selling for over their asking prices!

Yes, home loan interest rates are edging downward! Appears to be a strong Spring market with some homes selling over their asking price

We are headed into our Spring market and are seeing a little more inventory, but not really, as homes are selliing, especially if they are priced accordingly. Yes, interest rates are edging downward and if they continue to do so we will see more buyer activity and if we do get more buyer activity with our current inventory of homes we will start seeing multiple offers and rising home prices.

As well as some added thoughts on getting approved for financing if you are serious about looking for a home, as a buyer, and getting your home ready to sell if you are a seller. Thanks for listening!

As expected, lower inventory in the month of December and likely attributed to the earlier wind storm and the holiday season. The Spring market will provide us with better information on how the 2025 real estate market will trend for these three counties in Washington State.

Our inventory has dipped again and am seeing even less inventory in Decmember. If we get lower home loan interest rates in the 1st quarter of 2025 we will see increased buyer traffic as well as increased home prices.

I added some thoughts on how to get ready to start your home search and some things to do to get your home ready to sell if you are a seller. I am also suggesting that you do the research as a buyer and seller to make sure that the information provided by the seller to the buyer is true and correct as the sellers have an obligation to represent their home with reliable and accurate information.

Good news for buyers - inventory has increased this past month, yet good homes are still selling qucikly. We are seeing some price adjustmenst as well and those new prices are making those homes very attractive. Good time to be a buyer and YES still a good time to be a seller. 

Even with interest rates slowly going down we are seeing an increase in inventory, and adjusted asking prices, yet homes are still selling. I belive that this fall we will see more buyer activity and inventory decreasing due to lower interest rates.  Have also included in this Podcast some thoughts on VA and FHA assumable loans and my thoughts on getting your home ready to sell to maximize your selling price.

We are seeing a bump in inventory, not much, yet if interest rates continue to move downward the inventory is likely to decrease with increased buyer activity. We are seeing, in some markets, multiple offers and homes selling over their asking prices.

Seeing a bump in inventory yet several properties are selling with multiple offers, even with rising interest rates.

A few examples of why good buyer brokers are worth every penny you spend on having them represent you as those good brokers do far more than "just" opening a door for you. Their value is way beyond showing you homes!

Starting to see a little more inventory to select from yet good homes that are priced well are selling in less than a week. Interest rates are down to 7% 30 year fixed this week.

This Podcast includes a letter sent to ALL NWMLS members in Washington State so I  decided to share that letter with you so that you had "real" information instead of how the media spins things. If you would like more information feel free to reach out to me.

Some advice andon the ideal steps to take to either sell your parents home and/or to help your aprents downsize to a smaller home or move to a 55+ neighborhood. We are starting to see homes come on the market that have VA and FHA assumable loans, so do not overlook them as they might be a good opportunity for you to assume at their low interest rates,.Lnd lastly - the  proper etiquette for visiting open houses and/or visiting a home with your buyers agent

Again, homes are selling and prices continue to go up, yet we still have very low inventory!

Yes, the Spring real estate market is underway, seeing a few more properties come on the market, yet even with higher interest rates homes are still going up in value and selling quickly

As we go forward and tranistion to the new state law I wanted to share my insights on the obligations of buyers agents  as they represent buyers, as it pertains to the new law. Feel free to reach out with any questions or concerns.

Yes, even with low inventory we are seeing homes sale, with some homes getting multiple offers. 

Yes, we continue to struggle with very low inventory, yet buyers are looking and buying homes with a few homes being sold after receiving multiple offers. If we see any interest rate reductions I think the market will get busier with more buyer activity and the inventory will contuinue to shrink as all indications are that we will not see any increase in any inventory for the next few years

What is going on with the mortgage rates? What does it look like for interest rates in the near future? Are there and loan programs that are appealing to buyers? Is this a good time to buy or sell? 

Happy New Year! December was another month of continued low inventory, the only real highlight was that interest rates had fallen to the low 6% which helped with increased sales. I believe that rates will fall to the mid 5's by the spring of 2024. As a reminder, Jan 1 2024 ALL buyers MUST sign the new state approved Buyer Broker Service Agreement.  Thinking of selling? Get your home prepared to sell. If you are looking to buy a home then get pre-approved for financing. I expect a busy 1st quarter for 2024 with good homes selling quickly

Yes, interest rates continue to go down, and Yes home are selling!Starting Jan 2024 there will be new rules on buyer representation, written contracts,  that will include how the buyer broker will be compensated, either from the seller(s) or the buyer(s).

YES, homes are still selling, YES buyers are looking and YES interest rates have gone down for the last 2 weeks. - There are lots of great homes to buy!

Yes, the market is still very active with lots of buyer interest in "good" homes (homes in good condition and preiced according to current market valuations) even with higher interest rates. We also have new state laws taking place effective January 2024, have a discussion with your real estate Agent/Broker about the changes as this will affect BOTH Buyers and Sellers.  

Consisten theme, no inventory, higher interest rates and yet buyers are active and buying. A good time to sell! 

Ranting somewhat but what I discuss today is very valid on how real estate transactions can go sideways and fall apart. The best offense is to have a good defense, meaning get your home ready to sell and have full transparency to all parties and you will likely have a very satisfactory and successful transaction. 

Also some thoughts on building inspections and home improvement suggestions

As we continue to work with the challenges of VERY low inventory we are still seeing homes sell as well as home prices remaining clsoe to their values for a year ago. Great time to be a buyer!

Low, Low, Low inventory yet what is on the market is selling for 30 days or less, depending on certain market areas. 

Low, Low inventory and YES homes are selling with some selling for much higher than their asking prices. 

I am perplexed as to why they would bring in such a program that penalizes people for having good paying jobs, good credit and a history of saving money so that they can have a larger downpayment - I think this is absolutely ridiculous! 

So far, with dinishing inventory we are seeing a lack luster Spring market yet even with higher interest rates we have buyers not only looking to buy they ARE buying homes.

Decided to share my thoughts as well as additional information from Inman Real Estate (real estate industry newsletter) on the trends we have seen in the past and what we are seeing unfold in our Spring 2023 real estate market. Always good to look at the past trends and how those trends are shapingour current market

We are seeing lots of buyer activity, yet we are also seeing very little inventory so when you go to look at homes you may be up against competing offers from other buyers. If you are a seller and price your home/property according to the current market you may very well see multiple offers. 

Read some articles on Predictions for the 2023 real estate market, thought I would share, in this Podcast, the Predictions that are floating around.  Some of these make sense and may very well come true and some may not come true as the interest rates and inventory challenges will have a major effect on these and other predictions.

I think ALL property owners will be or are shocked at the recent Property Tax assessments for 2022, since they increased from 25% to 52% in 1 year and the taxes increased from 10% to 30% - the largest increase I have seen in King County for taxes due in 2023

Yes, we are seeing a little more homes going on the market BUT we are also seeing more sales and more activity at our open houses. All this could lead up to a busy Spring market, especially if long term interest rates go down

Inspite of the holidays, the rain, the snow and the ice strom homes were still coming on the market and selling, although at a slower pace, yet we are seeing more buyer activity in the month of January 2023

Have a VERY, VERY Merry Christmas!

Merry Christmas! Have a wonderful holiday season

Just a quick update on the excise tax changes effective January 1, 2023. Excise tax is paid by the seller, at close of escrow.

YES, we are seeing an increase in homes going on the market, yet we are still way below what a typical and equal balanced real estate market looks like - 4 to 6 months of inventory. We are now at 2 months of inventory. Yes, homes are selling, Yes some homes are selling in less than a week and Yes some homes are selling for over their asking price, but the majority of homes are staying on the market longer. Great time to be a buyer!

This is a very good time to be a buyer! If you are a home seller, make sure your home price is in alignment with the current market values as if it is we are seeing homes priced correctly selling in less than a week. 

NWMLS (Our MLS) Sales activity ending August 2022 for ALL residential homes and condos for King, Snohomish, and Pierce Counties

Mathew is the CEO of QuantmRE, a company that solves a real problem for homeowners by helping them access a portion of their home equity without the homeowner taking on more debt by using a Home Equity Contract.Find out more about this opportunity, as a homeowner or investor, at the following website: www.quantmre.com

YES, homes are selling still! YES, our inventory has grown to 2 months of availability.!YES, interest rates are coming down! YES, this is a great time to buy and sell a home!

The latest sales statistics from our local MLS (NWMLS) and some added thoughts on the market from me and from opinions on the national level