Tom Perry – Real Estate Solutions Realty Executives Brio – Data from NorthwestMLS and Freddie Mac Looking Back at May for Seattle’s Eastside: Bellevue, Redmond, Kirkland, Issaquah. Resale Only, No Condominium, No Townhouse New Listings during the 31-day month: Only 172 new listings came on the market in May. Available Homes: We ended the month […]
May 2024 – Seattle’s Eastside Market Report Read More »
Are you stuck in the past? I’m asked often, “When is a good time to put my home on the market?” and “When will the interest rates go down.” Obviously, that depends on a number of factors. But that question really stems on interest rates for most sellers. According to Freddie Mac, as far
Are you stuck in the past? Read More »
Carefully select the broker to assist with your property search. Brokers are expected to deliver services with reasonable skill. What is a reasonable skill? The state has a standard in RCW 18.86.120 for general broker duties but there isn’t a set outline of practical tasks or services required by the state. This means that buyers should interview brokers before signing the Service Agreement just as sellers have been doing for years.
All Buyers MUST enter a Buyer Broker Agreement “As Soon As Reasonably Practical”. Read More »
Accepting Mortgage Rates is a Big Ask. Oh my, Mortgage rates are insanely high. We were approved for an $800,000 loan when the rate was 6% and my Pi payment was $4,800 a month. Today at 7.49% the Pi payment is $5,590 and with our income to debt ratio, we don’t qualify. So, today, we
Accepting Mortgage Rates Read More »
July Real Estate Market Recap Tom Perry Summarizes the NWMLS June Press Release and adds data from NAR, NWMLS and FreddieMac. Published on: August 8, 2023 July has seen the inevitable downturn in the housing market given higher mortgage rates, there are still positives for both buyers and sellers. The Northwest MLS statistics summarizing July’s activity
July Real Estate Market Recap Read More »
This is a quick but comprehensive look at the real estate market on Seattle’s Eastside. Bellevue, Kirkland, Redmond and Issaquah. Residential resale homes only. No condo, new construction, or townhouses. Your broker should be able to use these numbers to explain the market and how it affects your list price, SOLD price and the buyers
January 2023 MArket Update Read More »
The 2022 interest rate story has been a tough one for buyer to understand. Rates more than doubled in the course of the year. Buyer’s in some cases have lost 30% of their buying power.
2022 the interest rate story Read More »
What has happened over the past year? Rather than fill you with filtered views and broad predictions, I have given you the spread sheets that I create for the brokers in my office and my clients. I hope you find your answers here.
2022 Year End numbers Read More »
Sellers have to realize that the competition for buyers is brutal as shown by the huge increase in months of inventory and days on the market. Also, home prices have settled. The seller’s list price is critical. Buyers are looking at the new listings and those that sit will do just that until there is a significant adjustment in price.
As we see mortgage interest rates increase so quickly, the buyer pool in every price range moves down the ladder. Keep in mind that an interest rate increase of 1% reduces the buyer’s buying power by 10%. This means that a borrower that could comfortably afford a $1M property before the increase, can now only
What is a 2/1 temporary Buydown Read More »
