Fall 2017 Newsletter

Seattle Market Update – it is a seller’s market / prices are up / inventory is low:
(published 09/10/2017)

Seattle continues to “lead the nation in home-price growth”, no city has seen this kind of growth we have here for the last year; except for San Francisco three years ago. Our current year-to-date price increase is double the national average.

Working with buyers this year has proved difficult as prices kept rising every week and competition has been fierce. The emotional toll was all too real and raw for some of our clients but most persisted and moved into their new home. Some of our sellers, of course, were delighted with the gains.

It isn’t just buyers and sellers feeling the real estate roller-coaster and soaring property values. Rents are up, too, especially in urban centers with easy commutes and availability of rentals is a problem, as well.

Have you checked your property tax assessment? The tax rate has gone up and your property value has gone up, so you are paying considerably higher property taxes now than a few years ago.

Where are prices headed? Amazon and other employers have attracted talent to the city and played a major role in its economic growth, the rise in rents and home prices; but now that Amazon has announced plans to open a second, “equal” headquarters somewhere else, Seattle’s housing prices, rents and development boom might slow a little, especially in the core of the city. Time will tell.

Our Listings

None at this time. Did we mention it is a seller’s market? We are ready to list your home – let us know if you are thinking of selling.

Quick Tips for Sellers

1, Make sure your home is properly priced. Pricing too low or too high can result in a lower sales price.
2, Create curb appeal. Many potential buyers assume a house that shows poorly on the outside will show poorly on the inside, as well.
3, Make sure everything is in good working order. Even smaller defects like a drippy faucet can raise concerns about the overall condition of the home for a potential buyer.
4, Clean and paint. A house that shines and feels clean will sell faster and for more money.
5, Consider staging your home. It will help potential buyers envision themselves in your home.

We’d love to hear from you
Any questions, comments, or feedback? Contact us any time, we’d love to hear from you.