Selling your home these days isn’t as simple as it used to be. With the explosion of real estate marketing on the Internet, prospective buyers can do their initial home shopping online. While this means that your listed property will be viewed by more prospective customers, it also means that many other properties will also be showcased, making for a much more competitive market.
While sales in the existing home market are expected to take a tick up early in 2019, there is a lot of concern about raising interest rates and economic uncertainty in the future. We are also looking for increasing inventory levels to start as early as March of this year with predictions of the greatest amount of housing inventory to hit the market in five years by May.
Savvy buyers are seeking out incentives from builders, especially on the West Coast and in other higher price point markets, according to representatives from John Burns Real Estate Consulting.
"Buyers have never had quicker and more complete access to information," stated consultant Dean Wehrli, one of a trio of consulting leaders with the Burns firm.
Joined by colleagues Lesley Deutch and Pete Reeb, Wehrli outlined four of the more effective incentives being deployed by today's builders. Speaking during a podcast, the presenters said the enticements are designed to generate traffic, save home seekers cash, provide buyers with nicer homes, and extend price discounts.
To generate traffic, builders are advertising more generous broker
KIRKLAND, Washington (February 7, 2019) – Homebuyers around Washington state are making their way back to the market, hoping to take advantage of improving inventory, attractive interest rates, and more approachable sellers, according to officials with Northwest Multiple Listing Service.
Northwest MLS statistics for January show year-over-year improvement in the volume of new listings and total inventory, along with moderating selling prices. Although fewer pending sales (mutually accepted offers) were reported than a year ago (down about 3.3 percent), January was the smallest year over- year decline since May 2018 when the drop was about 2.7 percent.
Commenting on the MLS statistics summarizing last month’s activity, broker Gary O’Leyar said January’s
Pledging a "commitment to do our part to help kick-start new solutions to this [housing] crisis," Microsoft president Brad Smith and CFO Amy Hood announced a three-pronged $500 million workforce housing fund to boost affordable housing in the Seattle area.
Writing in a blog post, Smith and Hood emphasized affordable housing solutions require a multifaceted and sustained effort by the entire region but said the Eastside suburbs would be the primary focus of the initiative.
In their announcement, the Microsoft executives acknowledged the gap between job growth and housing production. While jobs in the region have grown 21 percent since 2011, housing construction has lagged at 13 percent. (One countywide report estimates the county needs
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According to a 2017 analysis by the U.S. Bureau of Labor Statistics, STEM jobs grew at double the rate of non-STEM jobs between 2009 and 2015. STEM jobs are growing everywhere, but where are the hotspots, and where should you work in the field? WalletHub released a ranking of the best cities for STEM jobs, determined by a set of 20 key metrics assigned points that were evenly distributed into three categories: professional opportunities, STEM-friendliness and quality of life. Seattle topped the list for professional opportunities, which included metrics like job openings and employment growth. Also included in the ranking was STEM-friendliness, like qualities of engineering schools and math scores. And quality of life, which included
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After inventory and affordability challenges in 2018, prospective home buyers may have better chances of scoring a property this year. Affordability will remain an issue in some high-priced markets, says realtor.com® Chief Economist Danielle Hale, but overall, the national market is looking brighter for buyers who have stayed on the sidelines. Here’s why.
More homes are for sale. For the last few years, a limited number of listings has given buyers fewer choices. But housing experts predict more robust inventory this year. “For buyers, there is going to be more inventory, so that’s a bright spot,” Hale says. “The downside of that bright spot is it might not be in their price range.” The supply of homes for sale under $300,000 may not grow