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Brokers say home buyers are back, but they’re choosy

KIRKLAND, Washington (Nov. 5, 2014) – Home buyers are back, and they’re savvy and selective, according to officials who commented on the latest statistics from Northwest Multiple Listing Service. For sellers, that means pricing a home correctly at the start is vital, said industry veteran Kathy Estey, a member of the MLS board of directors.

The new report summarizing October activity shows year-over-year gains in new listings, pending sales, closed sales and prices.

Northwest MLS members reported 8,643 pending sales last month, which is up nearly 6.9 percent from twelve months ago when members reported 8,086 mutually accepted offers. Most of the increases are…

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We all know the old line about location. But buying a home takes research, research, research, too.

 

You will want to determine:

 

How much you can comfortably afford. The pre-approval process, which entails full documentation and credit check, is the best way to determine the numbers that are right for you. Early in your search, you can identify any potential hurdles and focus only on homes truly available to you.

 

How much cash you need to close. Knowing how much cash you'll need to close and, ideally, consolidating those funds into one account will help to prevent stress and ease the process later.

 

What kind of property you really want. Single family, multi-family, condo, co-op, Victorian, Colonial, Cape, split,…

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  • Pending Sales Surge 13% in Sept

  • Closed Sales up Nearly 5%

  • Prices increase by 2.5% ($12,500 on a $500,000 home!)

KIRKLAND, Washington (Oct. 6, 2014) – Pending sales of homes around Western Washington surged more than 13 percent in September compared to a year ago, and listing activity picked up slightly, fueling both broker optimism and words of advice for sellers.

Along with increases in the number of mutually accepted offers, the latest report from Northwest Multiple Listing Service shows year-over-year gains in the number of closed sales (up 4.6 percent) and prices (up 2.5 percent). Inventory for its service area, which encompasses 21 counties in Western and Central Washington, declined…

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Verrado is currently sitting at 87 active homes for sale, with an average selling price of $364,209.  There are now currently 21 pending homes in Verrado, with 10 of these new construction homes or presale lots; the majority which are the new Frank Residential row homes up near Main Street.  Overall, pending home sales have slowed and inventory has begun to climb which should bring some balance back into the market. 

Now when shifting over to Verrado sold properties, we are at 53 homes sold over the last 90 days, which is indicative of the slower summer months, with only 7 of these homes being new construction.  The average closed price of these homes was $304,070, maintaining at 98% of the asking price and 76 agent days on market.  Of this 46 were…

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  • Area Home Prices up 6.3%

  • Inventory "Well Below" normal levels

  • Some Seattle neighborhoods under 1 month supply of inventory

Western Washington housing market in "recovery mode" but some brokers say it’s still not at full potential

KIRKLAND, Washington (Aug.6, 2014) – More sellers listed their homes for sale during July compared to a year ago, but brokers with Northwest Multiple Listing Service say inventory remains "well below" what is considered to be a balanced market. Last month’s pending sales rose slightly from a year ago while prices system-wide increased nearly 6.3 percent.

"Some agents and firms are beginning to feel the summer doldrums, while others are experiencing a definite…

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KIRKLAND, Wash. (June 4, 2014) – Housing around Western Washington is on an upward trajectory, but inadequate inventory "in the right prices and locations" makes for a "very difficult market for purchasers and brokers," according to an executive with one multi-office real estate company.

  • Highest volume of "Pending" sales in 8 years!
  • Inventory continues to drop
  • Prices jump another 4.2%
  • Condo prices up 15% YTD

New figures from Northwest Multiple Listing Service show inventory increased in May compared to a year ago, but brokers say competition is keen. "Multiple offers and escalation clauses occur on a regular basis for properties that are extremely well priced and in great condition," reports Dick…

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  • Multiple offers on homes now the "Norm".
  • Prices up another 2% (That's $10,000 on a $500,000 home)
  • Pending Homes Sales reach the highest level in 11 months
  • 2/3rds of homes are selling within 30 days (That's twice the normal speed)

The latest statistics from Northwest Multiple Listing Service indicate the housing market is continuing to rebound. Both the number of pending sales and the number of new listings added to inventory during April reached their highest levels in 11 months.

Closed sales of single family homes and condominiums were slightly below the year-ago volume, while the median sales price rose slightly (up about 1.9 percent).

"The residential market is red hot," reported J. Lennox Scott,…

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  • Prices are up 6% over last year.
  • King County is down to only 1.8 months supply of available inventory.

KIRKLAND, Wash. (April 3, 2014) – Northwest Multiple Listing Service brokers reported rising prices on fewer sales during March compared to a year ago, citing inventory shortages as the main reason.

NOW is the time to list your home for maximum pricing and multiple offers. A recent listing by The Cascade Team Real Estate in Sammamish received nine offers in only 4 days with escalations pushing the price some $40,000 over list price. Other members of The Cascade Team are reporting multiple offers on almost every listing and fierce competition for available homes due to lack of inventory. Click here for a…

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It seems that just when you think you have the real estate market figured out, it changes. Not so long ago many real estate agents were juggling short sales, but today in many areas they are now grappling with multiple offer situations.

Multiple offers are here to stay as inventory levels continue to decline due to the lack of new construction and the disappearance of short sales and foreclosures. Buyers and investors are coming out in droves buying up everything with a For Sale sign. And in response to this, smart real estate agents have brushed up on their multi-offer strategies to give their buyers the edge they need to win. Sometimes it is not just about the offer amount, and it is the real estate agents job to…

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  • Pending Home Sales drop 6.5%
  • Eastside Sales Drop more than 16%
  • Brokers report:  “severe shortage of homes for sale”

NOW is the time to list your home for maximum pricing and multiple offers. A recent listing by The Cascade Team Real Estate in Sammamish received nine offers in only 4 days with escalations pushing the price some $40,000 over list price. Other members of The Cascade Team are reporting multiple offers on almost every listing and fierce competition for available homes due to lack of inventory. Click here for a FREE on-Line Home Value Report.

 KIRKLAND, Wash. (March 5, 2014) – Northwest Multiple Listing Service brokers reported 507 fewer pending sales during February than the same month in…

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