Real Estate News

Buy Low, Sell High, MOVE UP!

Posted on 26 May 2015

Buy Low, Sell High, MOVE UP!There are many contributing factors that create a rapidly appreciating market: a long awaited rebound coming out of a recession, low inventory, low interest rates, rising prices, rising rents that are outpacing incomes, population growth, etc.  And while investors and first-time home buyers make up a large portion of the home purchases out there, it is the MOVE UP buyer that can really take advantage of where the market it going.  SO, IS IT TIME FOR YOU TO MOVE UP?

Just like anything, the ebbs and flows of the market create ripple affects that carry through to different areas and price points at different times within the market.  WE ARE HELPING OUR MOVE UP CLIENTS MAKE LOTS OF MONEY NOW!

Year-over-year, based on April’s numbers, we have seen a nearly 12% appreciation of our median home price in King County, of which, in our experience is due to the rising tides of the entry-level price points.  While currently everything at the entry-level range is absolutely on fire and flying off the shelf with rapid appreciation, that ripple has not yet hit the mid to upper range price point homes at quite the same rate.  Every community is different with its range in values, however, regardless of the differing price points, as equity levels have grown, the opportunity to Sell High and use the proceeds to MOVE UP is currently the easiest way to make money in real estate and to take strategic advantage of the rising tide.

Give us a CALL to find out what your home is worth now and let’s start searching for your new home!

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Real Estate News

King County Housing Inventory Hits Historic Lows

Posted on 12 March 2015

2015.03 February King County Residential and Condo Pending vs ActiveThe real estate market is in full swing and we can’t keep homes on the market!  Even pricing at the upper limits of what can be justified, we are selling in just a matter of days.  Prices continue to rise and We Need More Listings!

Here are a few of the reasons for our current market situation and what it means for you as a buyer and/or seller: 

  • Low Inventory – The primary reason for the lack of inventory is the lack of new home construction over the last several years.  The recession hit builders hard wiping many out of business.  We need new construction just to meet the demand of our growing population but it can take builders a couple years to get new developments in the works.  Add to that the pent up demand needed to make up for the last several years.  In addition, many would-be move-up sellers are not selling either because of fear of not finding another home,  lack of affordability or not yet having enough equity to sell.  The combination of this leaves King County with just over 1 month worth of inventory.  This means that if no new listings came on the market as of today, buyers are purchasing homes at a pace that would leave no inventory left in just over 1 month.  Keep in mind, a balanced market is considered to have about 5 to 6 months of inventory.
  • Interest Rates and Rising Prices – Interest rates are still very low giving more buyers opportunities to purchase.  Couple that with the fear that rates are bound to rise over time and prices already are, that makes for a hungry bunch of aggressive buyers out there.
  • Tis the season – Historically, March through May make up the busiest period of the year for home buyers searching and making their offers in time for a summer move.

So, what does this mean for you?

Buyers:  You must be ready to act quickly and you must have an advantage over the competition.  Most homes are selling with competitive offers and bidding wars.  When it comes to shopping for your new home, we show you how to get the advantage and we don’t just wait for new listings to pop up on the MLS.  We’ve got to be aggressive in this market.

Sellers:  Click on the above info-graph…  NOW IS the time to list and sell!!  Don’t wait and don’t expect this to last.  There is currently about 1 month of inventory; 5 to 6 months is a balanced market.  It can’t get much better than this.  New construction, higher interest rates and other seller competition will eventually create more supply and balance this out.  Beat them to the punch.  If you know you’re going to sell this year, do it sooner than later.

Your broker’s value is determined by how relevant they are right NOW in the ever-changing market.  Call us if you want to talk about taking advantage of your position as a seller or how to get an advantage over the competition as a buyer.

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