According to the Northwest Multiple Listing Service, inventory is shrinking, sales are rising, and prices are stabilizing in some Northwest MLS areas. "Waiting longer to buy a home is not likely to pay off, according to Northwest Multiple Listing Service director Kathy Estey after reviewing reports summarizing May activity. Estey pointed to shrinking inventory (about 20 percent fewer listings than a year ago), double-digit increases in the number of pending sales (up 17.7 percent from a … (3 comments)
housing market: Master The Market of the Moment
- 05/21/09 05:56 AM
A wise man once wrote, "The game of life is not so much in holding a good hand as playing a poor hand well". This quote is especially true in the real estate world. Every market brings it's own rhythm and it's own rhyme. This market in particular not only has your typical sale or resale of single family homes, town homes, and condos but now we have short sales, foreclosures, and REO's to deal with. They're increasingly common these days because of the values that have dropped on many homes whose buyers had little or no equity in the first place. … (6 comments)
housing market: How Low Can We Go?
- 03/19/09 05:20 AM
It's no news that we are in a down market. Home prices are falling in most parts of the country. Even here in Seattle, a place that was thought to be relatively safe from the housing mess, we too are feeling the pain of continuing falling prices. It could have been much worse though. Local developers avoided the huge glut that Florida and other markets experienced because they moved quickly to put a hold on new projects. There have been no new project developments in over 18 months in the Seattle area. Even so, there is no getting around the tough times ahead. … (3 comments)
housing market: Seattle Real Estate, Risky Business? I think not!
- 01/28/09 04:52 AM
According to HomeSmartReports.com, among the least risky cities for home buyers to invest in, Seattle makes the list just under the most resilient areas of Bridgeport-Stamford, Hartford and New Haven, Connecticut. HomeSmartreport.com is a California based online service that measures "collateral risk," or the chance you will lose money on a property purchase. "Neighborhood stability is almost always anchored by employment, above-average wealth and education. Highly compensated professionals, managers and business owners with college degrees and large incomes tend to stay in their homes. The absence of speculators and buyers with adjustable-rate mortgages also makes a difference. Michael Ela, the president of HomeSmartreports.com, says California, with … (2 comments)
housing market: Top 10 Things to Expect in the Housing Market in 2009
- 01/09/09 02:27 AM
Following the too-good-to-be-true housing boom in the first half of this decade, 2008 was a dose of reality. The subprime mortgage crisis and the collapse of major financial institutions made this year a tough one for real estate. Expect 2009 to be filled with more change and adjustment in home values and expectations. On a positive note, help is on the way from the Feds, and some experts say a slow recovery could begin in late 2009. Prepare yourself for the challenges -- and opportunities -- of 2009 by getting familiar with what to expect in the housing market.
I think it's appropriate that Disney's new animated movie, UP, was just released because it seems our real estate market too is going up!;)
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