Seattle Real Estate News (digest)

Seattle area sellers in denial?

To find signs of this denial let’s take a look at the Property History of the listings in the data base of the Northwest Multiple Listing Service (NWMLS). The Property History captures the price trend of every property from when it was listed to when it was sold - if and when and how often and by how much the price was reduced. What is used in many published statistics is the spread between the listing price (at the time of the offer) and the purchase price. However, that tells only part of the story....more

What does the Selling Agent sell?

In a word: NOTHING.
When I go house hunting with a buyer I have nothing to sell. I don’t own the houses and condos I show. Yet, in the lingo of real estate I am the Selling Agent.
Until the early 1980s there was only one agent:
the Listing Agent. Buyers thought they were represented by the listing agent when, in reality, they weren’t represented at all. When we bought our first home in 1982 we knew nothing about real estate. The agent was a nice guy and it looked to us as if he was “on our side.” He wasn’t....more

Relocating or Being Relocated?

The prospect of a new job in another country or city can be exciting. The first move is to look for information about the new city on the web. Often, that first move is made by the spouse or “significant other” who is not starting a new job but a whole new life in a new place. Naturally, questions about housing, neighborhoods, and home prices top the list. When there are children, education is another priority concern.
Soon, the personal sense of anticipation meets the realty of corporate relocations. ...more

Seattle: First-Time Buyer Market?

Some say this is a great time to buy. Not so fast, I say.
It’s an OK time to buy if you do not have to sell first. It’s a good time to buy if you don’t have to sell first and have good credit. It’s a great time to buy if you don’t have to sell, have good credit and have saved up for this very purpose. If you are young, have a well-paying job and would find another job in greater Seattle with relative ease, this is your day to go house hunting - eh, make that condo hunting. ...more