In an attempt to get ahead of looming outside forces, broker-owned multiple listing service Northwest MLS is changing its rules to allow the public display of buyer broker commissions, starting October 1.
The rule changes will allow the NWMLS’s 30,000 agent and broker members to publish the amount of commission the seller is offering a buyer’s broker on the subscribers’ websites along with other listing details.
“Making this information readily available to consumers will allow for complete transparency with regard to buyers’ broker’s compensation and provide consumers with additional information at the outset of the transaction,”
Where a lot of confusion came in was the fee paid to the Buyer’s agent. That money was traditionally always offered
Sellers Here's How to Prepare for a Home Inspection
Some good advice: Do not try to conceal any defects you know are in the home. The key here is to work together! All homes have some issues, none are perfect so buyers and their agents are prepared to purchase a home that may have some issues.
The home inspector may find any defects anyway, and you don't want to be breaking any laws or causing the process harm. After all, you want to sell your home, and someone wants to buy it!
Here are some ways to be ready for the inspection:
Keep your power on if you are listing your home vacant (the home inspector may need to check a few things that need power)
Check all your light bulbs and change any burnt out bulbs. This may cut down on time the
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The market’s chilled out, but Seattle home prices still too hot for many first-time buyers
The Seattle area’s home prices have taken a break from their skyward trajectory of a year ago.
Seattle lost the title of the nation’s hottest housing market in August 2018 — but looking at home prices, which have stayed sky-high, that might be hard for shoppers to believe.
New monthly data shows the median price of a single-family home in Seattle — $760,000 — is exactly the same as it was one year ago. The same holds true for Bellevue, where a typical home ran $935,000 in August.
And while King County as a whole charted an infinitesimal bump in year-over-year home prices, it was so small that you might miss it if you
After last week’s post we had several great comments. I’ll address one from “B” here, which really went to the heart of why this change is being made…. That being that the public in general really doesn’t understand who pay’s buyer’s agents’ commissions and how they affect the over-all purchase price of a home.
B Day wrote: Why would a salesman list or try and sell a house with no commission? If a person can sell it by their selves, I say let them but to not have a set commission across the board seems pretty self-defeating.
Cary W Porter wrote: Thanks for the question…. It really gets to the heart of why the change was made and the surrounding confusion on real estate commissions.
You’re right! A salesman would never list a home for free or sell
Buying a home is likely the biggest purchase you’ll make in your lifetime. There’s a reason why people joke they feel “house poor” when they leave the closing table. Too often the burden of the down payment leaves homebuyers’ cash reserves empty.
And, new data shows that can be a recipe for financial stress.
A better measure: Cash on hand
Research by the JPMorgan Chase Institute flips the script on homebuyer risk. It turns out that having a cash cushion trumps a big down payment.
Historically, a big down payment is associated with lower risk, but the report found that liquidity — having at least three months of mortgage payments available — is a better measure of homeownership success. In fact, borrowers with less than one month of
This in from the Northwest Multiple Listing Service:
KIRKLAND, Washington (September 9, 2019) -
Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service.
The MLS report summarizing August activity shows less than two months of supply system-wide, and only about 1.6 months of supply in the four-county Puget Sound region. The sparse selection is pushing up prices. For last month's sales of single family homes and condos across the 23 counties served by Northwest MLS, prices rose nearly 6.2% compared to a year
You don't need thousands of dollars to refurbish your home and make it feel like new again. Instead, you can DIY a lot of features in your house to help spruce it up for the upcoming season. Whether you plan to sell your home, have guests over, or are just tired of how drab it is been feeling lately, here are a few tips and tricks you can use to refresh your space:
CLEAN + DECLUTTER Throw out all of the junk taking up space! You'd be surprised by how much more you'll fall back in love with your home when you take out the collection of accumulated stuff that has piled up over the years and finally get to see your home's features for what they are. Store what you don't need/use
If you’re preparing to sell your home, curb appeal should be a priority. When someone is walking by or coming to your open house, the outside of your home is the first thing they will see. If there is no curb appeal, potential buyers may never even set foot in your home. Instead of ignoring your home’s outdoor appearance, consider making some budget-friendly changes that can add appeal to your home without breaking the bank.
1. Landscape Your Walkway
Create a smooth transition from the street to your front door. A clear path will allow a potential buyer’s eye to look straight to your home, rather than stopping to concentrate on unkept landscaping. Clean your walkway and create groupings of mid-size shrubby and florals close to the road and