If home lacks features of recent comps, it's time to subtract value!

By Dian Hymer, Monday, August 20, 2012 Inman News®

A first-quarter survey of homebuyers and sellers done by HomeGain.com, a  real estate services website, revealed that 76 percent of homeowners believe  their home is worth more than the list price recommended by their real estate  agent.

Homebuyers usually have a better grasp of current market value in the  area where they're looking to buy than do sellers who own and live there. Buyers  look at a lot of new listings. They make offers, know what sells quickly and  for how much, and what doesn't and why. HomeGain reported that homebuyers still  think sellers are overpricing their homes.

Your home is worth what a buyer will pay…

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There are currently 566 active residential homes for sale in Bellevue, with an average price of $900,931; down slightly from our last report.  In addition, there are now 97 short sale listings in Bellevue, at an average price of $502,847, along with now only 8 bank owned homes, at an average price of $456,131.  It appears the market is has shown some signs of stabilization after the last few months of strong sales and lack of inventory. 

There are currently 297 active residential condos for sale in Bellevue, with an average price of $487,634, a fairly substantial uptick in pricing and inventory from the last report.  Short sale inventory is also climbing wit 85 short sale condos in Bellevue, at an average price of $205,142; which is up nearly…

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Last week in review (August 13 - 17, 2012)

Stocks and bonds have been competing for investment dollars, as the economic reports continue to deliver mixed results. Read on for details


Table Source: Mortgage Success Source

Several reports last week delivered good news for our economy.  The headline Retail Sales number came in at 0.8%, much higher than expectations. Building permits jumped to their highest level in four years and Consumer Sentiment also improved, coming in higher than expectations. In addition, inflation at the consumer level was tame. This is typically a good sign for bonds, as inflation hurts the value of fixed investments like bonds, which means tame inflation is also good for home loan rates since they are tied to mortgage…

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Daily Real Estate News | Tuesday, August 21, 2012  

What does it take for a city to make the “best places to live” list? Money Magazine factored in job opportunities, great schools, housing, low crime rates, and quality health care among its criteria for this year’s list of best small places to live in the U.S. 

The top 10 places making its 2012 list are (along with the average housing list prices from July 2012): 

1. Carmel, Ind.
Average list price: $304,340

2. McKinney, Texas
Average list price: $245,917

3. Eden Prairie, Minn.
Average list price: $413,566

4. Newton, Mass.
Average…

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There are currently 369  single family residential Carlsbad homes for sale at a median price of $725,000, with an average of 106 days on market; up 26 days from the last report.  Days on market has begun to improve over the last few weeks, however 32% of all listed properties had a price decrease in the last seven days, while 6% of the homes in Carlsbad had a price increase.  Inventory levels have been relatively consistent given the current sell through rate, and overall days on market are currently trending down.  Recently, the seven day moving price average recently made a strong move up away from the 90 day moving average, which would suggest that price stabilization is starting and short term prices are on the rise in the Carlsbad housing market. 

…

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Last week in review (August 6 - 10, 2012)

After a volatile week in the markets, you may be wondering where bonds and home loan rates go from here. Read on for details.

There were only two economic reports released last week, and the news from them was mixed. Productivity rose 1.6% in the 2nd quarter of 2012. Higher productivity signals that companies are squeezing more out of their current employees and may not add workers, which could slow job growth. There was a bit of good news on the labor front, though, as Initial Jobless Claims came in below expectations, declining to 361,000.

Also of note, the Fed's Eric Rosengren stated that the current U.S. economic outlook calls for another round of bond buying (known as Quantitative Easing, or…

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Community & School Reports

The Cascade Team Real Estate has made it easier than ever to learn more about your Seattle or San Diego neighborhood…including the schools that are located in your area of interest.

Explore community and school information within Western Washington or San Diego County. The Cascade Team community and school reports are your local source for local demographic and school district information. Compare local demographics, neighbohood amenities and local schools.

Our Cascade Team Real Estate Community & School Report Tool:

  • Compare two zip codes side by side
  • See income, household, cost of living and climate information
  • See local shopping, restaurants, services, recreation and leisure, along with local grocery stores.
    • …

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KIRKLAND, Wash. (July 5, 2012) – June may have been cooler and wetter than normal, but weather did not seem to deter home buyers and sellers around western Washington. "Close-in Seattle neighborhoods have been experiencing the most intense buyer activity since 2006," one broker remarked.

Figures just released by the Northwest Multiple Listing Service show 8,577 sellers accepted offers on their homes and condominiums last month. That volume of pending sales across 21 counties was 13.8 percent higher than the same month a year ago, according to the MLS report.

Closed sales also reflected signs of a recovering market, with upticks in both volume and prices. Through the first six months of 2012 closings are up 14.4 percent (29,777 versus…

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Daily Real Estate News | Monday, June 18, 2012  

If you have a “pinball” or “setup” home you’re trying to sell, you may inadvertently be helping other real estate professionals sell homes similar to yours that are more reasonably priced.

The terms “pinball” and “setup” are being used by real estate brokerages to refer to a “house listed with an unrealistically high asking price that pulls in lots of visits by agents and shoppers but no offers,” The Miami Herald explains in a recent article.

The overpriced listings often are shown by other real estate agents to their clients to make lower priced, similar homes look even…

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  Daily Real Estate News |      Wednesday, June 13, 2012   

The number of homes on the market continues to become a shrinking pool. Inventory of for-sale single-family homes, condos, townhomes, and co-ops dropped 20 percent in May compared to year-ago levels, according to data from REALTOR.com of 146 markets.

Inventories in May declined in all but two -- Philadelphia and Shreveport-Bossier City, La. -- of the 146 markets tracked by Realtor.com.

While inventories were on the decline, the median national list price was on the rise, inching up 3.17 percent in May compared to May 2011.

“These key indicators continue to suggest that the housing market is steadily moving along a path of stabilization and gradual recovery,”…

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