It’s a tough market out there for buyers. With demand for housing seriously outweighing supply, buyers are competing on most listings, and losing out on many.
The most offers I’ve had to write for a client was 2 years ago, when it took 8. I’ve heard of buyers who have submitted in the double digits.
Right now I have 2 sets of buyers who are on the offer roller coaster. One set has submitted 4. The other 2 (and we’re waiting to hear on the 2nd). It’s frustrating. You find a house you love and want to buy, but end up competing with 26 other offers (yes, last week buyer set 1 was one of 27 offers). You move on, but then you go through it again. What to do? Here are some tips I offer to buyers:
- Know the numbers. You know what your maximum you can spend is. But also know the market numbers. If homes are selling 10-20% above list price, you should be looking at properties listed 10-20% below your maximum.
- Have your financing lined up, and make sure your lender has taken you all the way through underwriting (except for a property address). Have a local lender who is available on the weekends.
- Look at homes that have been on the market for more than 10 days. These are less likely to receive multiple offers. In this case, you might be able to look at homes at or slightly above your maximum as you might be able to get an offer accepted below list price.
- Think about what you can compromise on. Could you go a few miles farther out? Is having a garage more important than getting a house? Don’t restrict yourself to fenced yards, you could put a fence in yourself.
For more ideas on how to compete or to talk about the real estate market, please call/text me at 206-790-0081 or email me.
Next week, on Wednesday, April 4th, I will be teaching my popular class, “Getting to Sold,” at the Greenwood Senior Center. The class is open to everyone and is not targeted to any one age group.
Getting to Sold is for anyone who is thinking about selling a home or condo. It’s a great opportunity to learn what’s going on with the real estate market and why now might be the right time to sell. I also provide tips on preparing your home for market. And we also talk about how to purchase a new property while selling your current one.
Class is April 4th, 6:00-7:30pm. Please reserve your spot by emailing me at Jamie@JamieFlaxman.com or calling/texting 206-790-0081.
Download flyer: getting to sold flyer 2018
This April I will be hosting two “Getting to Sold” classes for those considering selling a home. In Getting to Sold you will learn valuable insights about the current home selling market including:
- key steps to prepare your home for market and receive top dollar
- options for buying a new home while selling your current one
- why it might be in your best interest to sell sooner rather than later.
The two classes are open to anyone interested and there is no fee to attend.
Wednesday, April 4th, 6:00-7:30 pm will be at the Greenwood Senior Center
Friday, April 13th, 1:30-2:30 pm will be at the Wallingford Senior Center.
Questions and reserve your spot by calling/texting Jamie at 206-790-0081 or by email: Jamie@JamieFlaxman.com.
In both Snohomish and King Counties we saw an increase in inventory in January, but not nearly enough to meet the demand. I know of a home in Everett that received 27 offers and one in Seattle (Fremont) that had 18. Looking at January 2018 inventory you can see that the numbers are continuing to decrease, year over year. In King County the number of active listings at month end is down 50% since 2016, 21% from 2017; in Snohomish County it is down 81% since 2016, 30% from last year.
This is the time to sell – let’s talk about your needs. Give me a call/text at 206-790-0081 or email Jamie@JamieFlaxman.com.
You’ve heard it before but I can’t say it enough – we have a severe shortage of homes for sale in the Puget Sound Region. This is the number of active listings in various cities as of this morning:
For comparison purposes, in December 610 homes SOLD in Seattle, almost double our current inventory of available homes.
The number of buyers has increased substantially as well, resulting in multiple offers on most properties. Prices are continuing to increase as well.
So why should you sell now? Traditionally we see more homes for sale in the spring so get your home on the market NOW to reach out to the most buyers.
Give me at call/text at (206) 790-0081 or email Jamie@JamieFlaxman to discuss listing your home.
When I think of December and real estate, I think of quiet. Everyone is getting ready for the holidays or going on vacation. It’s a great time for me to catch up on paperwork and plan for my business in 2018.
This past December did not hold to market trend. It was crazy out there. Open houses with a 100 visitors. Listings receiving 28 offers. Multiple offers being received the week between Christmas and New Year’s.
What’s going on you ask? The data for December isn’t out yet but based on what I’ve seen, here’s my theory to why we had a crazy month: We have almost no inventory of properties for sale and people want to buy before interest rates go up and tax reform goes into effect.
Do you want to buy a property? Do you have a property you’ve been debating about selling? Give me a call/text at (206) 790-0081 or email at email@example.com for a complimentary consultation.
Summer doesn’t end until September 21st, but for many, summer ends with Labor Day (this year September 4th). With kids heading back to school and summer vacations over, the real estate market usually sees an uptick in September. More listings come on the market so it’s a great month to buy a home. And if you’re on the edge about selling, we should get your home on the market soon before the market slows down for winter.
To talk about your real estate needs, give me a call/text at (206) 790-0081 or an email to Jamie@JamieFlaxman.com.
I was in Iceland for 2 weeks and while I was gone, a slight shift occurred in the market. Inventory increased – in the city of Seattle the number of new listings of single family homes in May increased nearly 30% over April 2017 and nearly 6% over May 2016. This is great news for buyers who have become very frustrated with the lack of available homes for purchase.
Sellers, it’s not time to worry. There’s still a significant shortage of inventory compared to the demand.
Please let me know if there’s anything I can do to help with your real estate needs.
Reposting as this class is this week, there are spaces still available.
Please join me for this informative and interactive class on March 29th. Come learn valuable insights about the current home selling market and how to prepare your home to sell.
Wednesday, March 29th, 6:30-8:30pm at the Phinney Neighborhood Association, 6532 Phinney Ave N, Seattle
- understanding today’s market
- key steps for preparing your home for market and how to receive top dollar
- options for buying a new home while selling your current one
- why it might be in your best interest to sell sooner rather than later
- tips on downsizing and decluttering.
Reserve your spot by calling 206-783-2244 or www.phinneycenter.org/classes.
Contact Jamie with any questions at 206-790-0081 or Jamie@JamieFlaxman.com.
Do you want to live on Phinney Ridge or west Green Lake? If you answer yes, this home is for you.
I have just listed this beautiful light filled craftsman at 532 N 67th St. Location is key here with only one block to the Phinney Neighborhood Association and the restaurants and shops on Greenwood Ave. Or go two blocks in the other direction and you’re at Green Lake. Access to Metro routes 5 and E are close by.
The home offers 3 bedrooms, 2 of them on the upper floor with views of Green Lake and the Cascades. Each of these bedrooms has its own bathroom and large closet. The third bedroom is on the main floor along with another full bathroom. The main floor also includes living/dining room, kitchen, and family room, which opens to a wood deck for outdoor dining.
Both the front and back yards are beautifully landscaped and the back is fully fenced for your 4-legged friends. Top this off with a detached 2-car garage and everything you need is covered.
Explore the home via video tour.
Stop by one of the open houses to check it out or contact me for a private showing. With our current low inventory, this home is sure to go fast.
- Friday, June 3rd – 4:00-7:00p
- Saturday, June 4th – 1:00-4:00p
- Sunday, June 5th – 1:00-4:00p
- Wednesday, June 8th – Noon-2:00p
- Built in 1923
- 3 bedrooms
- 2.75 bathrooms
- 2,570 sq. ft
- 4,960 sq. ft. lot
- 2 car garage
- Gas furnace for main and lower levels
- Ductless heat pump with air conditioning for second floor bedrooms
- Partially finished basement with bonus room
- Earthquake retrofitted in 2001
- Views of Green Lake and the Cascades
Download the 532 N 67th St. home flyer