Tuesday, November 27, 2018 / by Christine Andreasen
Today, we’ll be discussing what is going on in the King County real estate market.Interestingly enough, there’s been even more shocking news regarding the Seattle real estate market since my last update in October. The graph above depicts the “Sale to List Price Ratio”. This indicates the amount over or under list price, or the amount that homes have been selling for. As you can see, home prices have been over 100% of asking price since 2015.
Anyone that’s been looking to purchase a home in the last four years knows it’s been an uphill battle, but for the first time in four years, home prices are on the decline. As of this month, homes are selling at or slightly below asking price. If you’re looking to sell your home, we’re really looking at selling in a relatively normal market. This simply means you will have to be strategic with pricing your home. If you’re looking to buy, now is a fantastic time.
Moving on, we&r ...
Tuesday, November 06, 2018 / by Christine Andreasen
Today, we’ll be discussing what is going on in the King County real estate market.
Before I get into too much detail, let me break down the individual parts of this graph. The light green lines represent the available inventory, or “for sale” properties. The dark green lines represent “sold” properties, and the blue lines represent new listings last month.
What does this mean for you? Well, this information represents what has been going on in the King County market for the last five years. As you can see, we are at a record number of homes for sale in the last five years. Even for this time of year, the number of new listings is going up. More people are coming on the market with fewer people buying. Supply and demand isn’t just a good idea, it’s the law. If this trend continues, it will inevitably affect home prices.
When we take a look at the last 15 months, we’ll see that there is a radical difference in inv ...
Thursday, October 18, 2018 / by Christine Andreasen
There’s been a lot of buzz about the Seattle real estate market lately,
and I’m here today to answer all of your questions about what exactly is going on.
Is the Seattle market ready to crash? Are home prices going back up? There’s been a lot of buzz about the Seattle real estate market lately, and I’m here today to answer all of your questions about what exactly is going on. Before I do that, however, I have to ask you just one question: would you rather be absurd, or uncomfortable?
Ultimately, my answer to your questions will depend on what you’re really looking for.
If you’re looking for comfort, you need to be willing to accept being absurd. If you’re unwilling to accept that, then you’re going to be uncomfortable. I get that from Voltaire, the great French playwright, who once noted that while uncertainty is an uncomfortable position, certainty is an absurd one.
If you’re looking to know where the market i ...
Thursday, September 20, 2018 / by Christine Andreasen
Today I’m excited to bring you my latest Facebook Live interview, during which I was asked some great questions about selling in today’s market.
Note: I apologize for the blurry video! We're working on that issue for next time.
Cited below for your convenience are timestamps that will direct you to various points in the interview. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:
00:18 - What’s the best way for sellers to determine home value?
1:25 - Can sellers base their home value on recent sales in their neighborhood?
2:45 - Where not to start when determining home value.
3:35 - Is renovating before you sell a good idea? If so, which renovations are worthwhile?
5:37 - Why is it necessary to work with a Realtor when you sell?
We hope this update has been helpful.
To read NBC News article mentioned at the beginning of today’s discussion, click here.
If you ...
Thursday, September 06, 2018 / by Christine Andreasen
Over the last 15 months, we’ve seen some interesting changes take place in our Seattle area real estate market.
Even just since January of this year, inventory has tripled. Conversely, the number of sales has remained largely stagnant.
This high level of inventory won’t last forever, though. The number of new listings coming onto our market has slowed down recently, so those thinking of buying should make their move now. Our current market has a greater selection of homes than we will likely see again for several months.
With that in mind, those who are thinking of listing should realize that listing during months that typically see diminished inventory can pose a great advantage. The lower your competition, the better your chances of securing top dollar will be, so waiting to list until at least November will likely help you reap the best results.
Also, those who already have a home on the market should know that it will still sell. It just may ...