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Market Conditions

Found 740 blog entries about Market Conditions.

The decision to go with Shane and Anne for the sale of our beloved home of 14 years is one I'll never regret.  As a team they work seamlessly to ensure all details are addressed and that the utmost care is taken with each client.  Though I know they have others at any given time, Shane and Anne made me feel like I was their only one.  And I might add I didn't always feel that way with past real estate transactions.  

"Click" Here to View The Fully Interactive Property Website

Shane and Anne checked in frequently during the days leading up to our home sale and prior to pictures they helped me out immensely so that each room looked the way we wanted it to.  They truly are full service listing agents but at a discounted rate.  Their

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A basic beginner's explanation for our soaring home prices in King County: There are a lot more people searching for homes, and far fewer homes available for them to buy.

There just aren’t enough homes for sale.

The number of homes on the market is at a low point for records that date back to 2000, despite the big increase in population over that span.

King County had only about 2,000 homes (single-family and condo) for sale last month. During the average month of March over the last two decades, the region had more than 7,800 homes for sale — nearly four times as many.

You may think homeowners would want to cash out: The average homeowner across the metro area who sells today has owned the home for about 10 years and makes a 64

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In Seattle — home appreciation exceeded the median household income over the past year.

  • Home values in Seattle have been appreciating more than 3.5 times faster per working hour than the cities’ minimum wage workers earn.
  • In Seattle, the typical homeowner is gaining $54.24 of equity in their home every hour they’re at the office. The city’s hourly minimum wage is $15.00.
  • The typical U.S. homeowner is gaining $7.09 of equity in their home every working hour, $0.16 less than federal minimum wage.

The rapid pace of home value appreciation over the past year may present homeowners in Seattle with an interesting dilemma: Why work a 9-5 slog, when you can sit back and collect substantial hourly home equity “earnings” instead?

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Do You Know Your Homes True Value? "Click" Here

Homeownership - more than any other financial asset - is key to household wealth, accounting for nearly one-fourth of all assets held by households in 2016. The Survey of Consumer Finances (SCR) valued assets made up of primary residences at $24.2 trillion.

Three additional categories accounted for another 55 percent of a household's balance sheet:

  1. Other financial assets ($20.2 trillion; 20 percent), described as including loans from the household to someone else, future proceeds, royalties, futures, non-public stock, deferred compensation, oil/gas/mineral investments, and cash, not elsewhere classified;
  2. Business interests ($20.2 trillion; 20 percent); and
  3. Retirement accounts ($15
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Millennials accounted for 36 percent of all home purchases last year, retaining their ranking as the most active generation of buyers for the fifth consecutive year, and improving on the previous year's figure of 34 percent. Despite that feat, the chief economist at the National Association of Realtors® said the overall share of millennial buyers remains at an underperforming level.

Those findings were reported in NAR's 2018 Home Buyer and Seller Generational Trends study, a 144-page evaluation of the generational differences of recent home buyers and sellers.

Inventory constraints and rising housing costs are faulted for keeping overall activity among millennials subdued and "preventing some from leaving the more affordable confines of the

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KIRKLAND, Washington (April 5, 2018) - Job growth and a recent run-up in mortgage rates has created an "extremely intense market for each new listing," stated J. Lennox Scott, chairman and CEO of John L. Scott Real Estate in commenting on the latest statistics from Northwest Multiple Listing Service.

MLS figures for March show a surge in both new listings and pending sales compared to February as the spring market heats up. Compared to a month ago, pending sales climbed more than 29 percent (from 7,980 in February to 10,311 in March), while the volume of new listings jumped more than 45 percent from February to March.

"What used to be a quick action market for buyers is now, once again, an instant response market, and this has been the case

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Seattle Real Estate Trends

Here we are with the latest on how the market is going in Seattle and there's a lot of great information to share in the infographic below. Generally speaking, we're still short on inventory of homes for buyers to choose from. While inventory is down,  other key indicators are all showing gains due to the tight market. Need some insight on how this info applies to your plans? Contact me. 

By the way, look at those average sold prices. If they sold with The Cascade Team's full service for 1% listing fees, a condo seller would have saved over $12,000. A home seller would have saved over $17,000!

 

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“Information and statistics derived from Northwest Multiple Listing Service.”

  • Even as more homes come on the market for this popular sales season, they're flying off fast.
  • Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat.

Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.

Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat.

Northwest MLS figures for last month show a

Read Full Post »

“Information and statistics derived from Northwest Multiple Listing Service.”

  • Even as more homes come on the market for this popular sales season, they're flying off fast.
  • Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat.

Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.

Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat.

Northwest MLS figures for last month

Read Full Post »

“Information and statistics derived from Northwest Multiple Listing Service.”

  • Even as more homes come on the market for this popular sales season, they're flying off fast.
  • Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat.

Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.

Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat.

Northwest MLS figures for last month show a

Read Full Post »