Tag Archives: market

Things Out of Your Control When Selling

Do you feel like things are out of control? If you’ve listed your home for sale, every day might feel this way. But that’s not what we’re talking about here. The truth is there really are things sellers can’t control. But don’t worry; even though you can’t control everything, there are ways to deal with these unknowns.

Buyers – Oh if only we could control buyers. They show up at odd times, they write crazy offers, they make odd repair requests and they can be difficult. One time a deal fell through because a Feng Shui Master didn’t like the color of the kitchen.

The Market – Market forces determine so many things; interest rates and sales prices. While you can’t change these forces, you can get all the information you can so you’re prepared for how this affects the sale.

Inspectors – You’ve loved and cared for your home, but even so there could be hidden issues that only a comprehensive, professional home inspection can uncover. One way to avoid unpleasant surprises is to put a listing home warranty in place to cover unexpected repairs. Another way is to your own inspection before listing your home.

Appraisers – Appraisers are just people. On occasion they make mistakes in value. Your lender and broker will help you navigate an unfavorable appraisal. There are ways to combat a poor appraisal.

Selling your home can bring unexpected issues. If you’ve done your due diligence and hired a good broker, you’ll be able to handle the unexpected issues which are out of your control. For more information, give me a call at 206-790-0081 or email Jamie@JamieFlaxman.com.

Why You Should Sell Now

Rising home prices, demand from home buyers, less competition, and low interest rates are making 2015 a stellar year to sell for many home owners across the country, and especially in our hot Seattle market.

There are 4 factors behind why this year is shaping up more favorably for sellers:

1. Strong demand from buyers. Millenials and first time buyers are out in force, driven by our growing job market and low interest rates. Those who lost homes to foreclosure or short sale during the downturn are returning to the market as well.

2. Prices are skyrocketing. So far in 2015, appreciation is at its highest rate since 2007. City-wide for Seattle, prices have appreciated 12% from June 2014 to June 2015, with some neighborhoods much higher.

3. Sellers have less competition. Inventory continues to be extremely tight, with less than a months inventory in most Seattle neighborhoods. The number of buyers far outweigh the number the sellers.

4. Interest rates are increasing. Although rates continue to be extremely low (hovering around 4%), just a couple weeks ago we saw rates closing in on 4.5%. Experts around the country are continuing to predict that we’ll see rates around 5% by early 2016. As rates increase, buying power decreases.

To learn more about selling your home, contact me at (206) 790-0081 or jamie@jamieflaxman.com. You can also download some information on selling here.

Information for this post adapted from http://realtormag.realtor.org/daily-news/2015/07/24/3-reasons-why-its-great-time-for-sellers#sf11309959.

National Real Estate Update

We’re more than halfway through 2014 and nationally we have seen a “mixed bag” when it comes to the housing market. Although the market overall is strong, the first quarter did not perform as well as hoped, due in part to a challenging weather patterns and demand outweighing supply in many areas.

Since the number of homes available for sale (also known as ‘inventory’) has been low, buyers in some areas are competing via multiple offers for properties.  According to the National Association of REALTORS®, national inventory improved somewhat in the spring, causing sales to surge in May. In fact, the 4.9% increase in sold properties in May was the strongest month-over-month increase since August of 2011. However, this is still 5% lower than May of 2013. And in June, after three consecutive months of solid gains, pending home sales slowed modestly.

While looking at data provides a look at overall market health, I know what is most important to you is what this means for your property value! I would be happy to go over how your neighborhood is faring and what I expect in the coming months. Currently I am booking mid-year property reviews and I would like to book yours! Please give me a call at 206-790-0081 or send me an email.

SOURCE: http://www.realtor.org/news-releases/2014/06/existing-home-sales-heat-up-in-may-inventory-levels-continue-to-improve