Tag Archives: Seattle Real Estate Market

Has the Seattle Housing Market Gone Nuts? Yes! But why?


The market sure has heated up. Prices are going up and multiple buyers are competing for the few houses available.
So what’s going on?
– Seattle Unemployment is Low:
In February the Seattle area’s unemployment rate hit its lowest level since September 2008 at 5.1%.
– Consumer Confidence is High:
Confidence is now at a new post-Financial Crisis high.
– Mortgage Rates are Still Attractive:
Current interest rates are roughly on par with where they were in August 2011 and still two points below the 6.41% average rate during the height of the housing bubble through 2006
– Limited Supply of Homes Available for Sale:
There is about a 1.8 month supply of homes for sale in King County. A 4-6 month supply is needed for a balanced market between home buyers and sellers. We are NOT in a balanced market – we have a strong seller’s market.

Competition is Fierce – Hot Seattle Housing Market


Multiple offers – Rising Property Prices – Rising Interest Rates – Low Inventory – Preinspections – Cash Offers, …. this is what my clients are dealing with everyday now. Yes the market is hot. It’s exciting and exhausting. The video below, recently aired on King 5, describes what buyers are going through well. CLICK HERE FOR VIDEO WorkingContinue reading “Competition is Fierce – Hot Seattle Housing Market”

Under water? Can’t afford your mortgage payments anymore? Short Sale as Foreclosure Avoidance Tool best for some Homeowners


According to yesterday’s issue of the Puget Sound Business Journal, about 16 percent of all residential properties with mortgages were in negative equity at the end of the year in Washington State. Negative equity means the homeowner owes more on the home than the home is worth.  This  can occur because of a decline inContinue reading “Under water? Can’t afford your mortgage payments anymore? Short Sale as Foreclosure Avoidance Tool best for some Homeowners”

Houses for Pennies on the Dollar? Really?


 Many buyers have heard that Seattle real estate is more affordable than ever. Yes, prices have dropped quite substantially but when I hear people saying or I read articles about “Houses for Pennies on the Dollar” I get a little perturbed.  We have had a few people contact us with unrealistic expectations about what theyContinue reading “Houses for Pennies on the Dollar? Really?”