Category: Selling

For the last several years we have experienced the craziness of the hottest housing market in generations across the nation and especially here in the Puget Sound. Certainly, this has been the hottest sellers market that I have ever experienced. We have all sensed that market has shifted in the buyers favor in the last…
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Good article from Seattle Agent Magazine July 8. The seller’s boom is over. Sellers are reducing prices, inventory is increasing, competition is declining and mortgage rates are moderating (for now). Nationally, home are remaining on the market 18 days – flat from 2021 and 52% are selling above list price, down a point from 2021.

Real estate agents, housing economy experts, and consumers are still facing higher-than-normal demand, but there are indications that the housing market – red-hot since 2020 – may finally be tapering. What does a cooling housing market feel like? What should you and your clients be on the lookout for when judging whether the price and demand of…
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I feel a bit like chicken little screaming the sky is falling. The sky is not falling. But, the market is shifting quickly resulting in a mismatch with sales prices and seller expectations. I listed a nice home in a desirable neighborhood for $1.7M in May. There was very little traffic through the home even…
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At the end of May there were 8,798 active listings on the NWMLS, up a whopping 59% from a year ago. The significant increase in the number of homes for sale has some speculating that the market is about to implode, but that is very unlikely,” stated Matthew Gardner, chief economist at Windermere Real Estate.…
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If you are a Woodinville homeowner looking to sell, it’s time to celebrate! If you are looking for a home to buy in Woodinville, not so much. Woodinville, Washington is the most popular market on all of Zillow so far this year. Edmonds also had a reasonable showing, coming in at #5 on the list.…
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We are at the front end of a market and transition in the Puget Sound region. Homes remain at record high prices with the Seattle Times reporting that the median price in King County is nearly $1,000,000. For the past many months inventory has been virtually nonexistent and the norm has been multiple offers for…
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The Federal Reserve board is meeting is coming up May 3-4 and again June 14-15 this year. According to traders, there is a 73% chance that the May meeting will result in ½ percent increase and a 63% chance the June meeting will result in ½ percent increase in the Fed long term interest rate.…
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According to CNBC, the average contract interest rate for a 30 year fixed rate mortgage and conforming loan balance ($647,200 or less) increased to 4.9% from 4.8% for loans with a 20% down payment. I am already hearing about 6% rates from my mortgage broker friends. As you would expect, this impacted mortgage applications, which…
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Interest rates are rising. Most experts believe, and I agree, that higher interest rates will cool today’s torrid housing market. Buyers will have less purchasing power thereby reducing demand. This is balanced against more than a decade of building fewer homes than was required to meet demand, so inventory remains tight. A new report out…
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