Seattle WA home prices increase, prepare to be a buyer!

By
Services for Real Estate Pros with Sound Realty Northwest

Where did I leave off, oh yeah..... 

It had something to do with "Think Local".  Our Seattle WA and surrounding communities markets never did take off with the same exuberance as did many other markets.  And our landing will not be anywhere near what is happening in many other cities. 

So why are so many would be buyers waiting for prices to drop?

It is really about buying a home, a place to live, the community and schools.  It is about getting on with life.  We have been focusing too much on a home as a piggy bank, rellying too much on price increases to fund our consumer needs.  When is the last time you heard of a mortgage burning party?  Probably the younger buyers are saying "a what?".  Yes people did really pay off their mortgages and party.

Did you hear, home prices in Seattle WA are beginning to rise!

You may have heard recently that prices dropped a whopping 1.3-1.7%~ last year.  For those of you who held off buying that represents about $6,158 drop in the median Seattle WA home price.  That is a monthly savings of $37, about 10 Starbucks coffee drinks.  About 2.5 coffe drinks per week or almost one movie ticket per week (no popcorn though).  Or about 1.75 gallons of gas per week.  Stop me when this begins to sound like a silly reason to hold out on your home buying dreams. 

And a whole industry held it's breath with you. 

I have heard that something like 25-30% of real estate agents have dropped out of the business.  That's actually great for the rest of us and for you.  They say that about 72% of buyers and sellers choose the first agent they come across.  Imagine, you could have had a one in three or four chance of selecting an agent who probably shouldn't have been in the business anyhow.  Hmmmm..... maybe you will give me a call now!

Here are the most recent numbers:

The median price for a single family home that sold in King County last month was $439,900. That's down about 3.3 percent from a year ago, but up $10,000 (2.3 percent) from February!  Have we turned a corner?  Are we about to?  February 2007 to February 2008 is down in volume by 35%.  Must be the latee saving people stopped buying real estate.  Oh, come on.  Play with me!

And peak home buying season is hitting the Seattle WA market!

The current market offers great opportunity for homebuyers.  Prices are holding up and there is less competition, at this time.  As spring progresses the market typically picks up and with interest rates at today's low rates there should be a real rush in the offing.

 

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