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Real Estate How’s the Market? Q1 Real Estate Review… An extreme sellers’ market, driven by too few homes for sale and incredibly low mortgage interest rates, led to the most aggressive multiple offer bidding wars we have experienced in our region. There are simply dozens of buyers for nearly every home that comes to market. To be competitive, most buyers did their home research […]
Real Estate How Did Seattle Real Estate Fare in 2020? Our local real estate market overcame all odds in the surreal and tumultuous year laid at our doorstep. Despite many economic woes, home sellers were the big winners in 2020 as too few homes for sale could not keep up with increased buyer demand, leading to the most aggressive multiple offer bidding wars we have […]
Real Estate Q3 2020 Reports: Market Update   The volume of Q3 transactions made up for Q2’s fewer sales and then some. Truth be told, the market could have absorbed twice the number of transactions, if only there were more homes on the market to sell. Too few homes for sale is the defining character of the Q3 Seattle region real estate […]
Real Estate Home Buying Trends Emerging from COVID-19 Coronavirus has made many of us rethink what is important to us…and our homes are no exception. According to the National Association of REALTORS® (NAR), the top feature desired by buyers is now a home office (or even more than one). 22% of buyers are less concerned about their commute, which means homes in affordable […]
Real Estate Interest rates make a BIG difference when you buy…   You probably know that interest rates affect your monthly mortgage payments, but most of us aren’t aware of just how big an impact they really have on a home loan. Each 1% change in interest rate equates to roughly a 10% change in buying power. This means you can qualify for a much more […]
Real Estate Q2 2020 Reports: Market Update   Q2 was a story of resilience for the Seattle market. It began with our region fully entrenched in a new normal amidst the COVID-19 pandemic, but ended with a strong seller’s market and historic low interest rates. Buyers have returned in droves to battle for the limited supply of homes for sale. With a […]
Real Estate How to Buy and Sell Safely in the New Normal   While buying and selling real estate was recently deemed essential in Washington State, the landscape looks very different than it did before the COVID-19 outbreak. Real estate offices remain closed to the public with agents (like me) working remotely and hosting virtual client meetings. Important safety regulations prohibit in-person open houses and limit the […]
Real Estate Q1 2020 Reports: Market Update   As we are fully entrenched in a new normal amidst the COVID-19 pandemic, it is important to note that the Q1 stats you see are based on pre-coronavirus closed sales activity and therefore largely untouched by our current market reality.   While Q1 serves as a pre-coronavirus benchmark, Q2 and Q3 will more accurately […]
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Real Estate Economic Insights from Matthew Gardner   As we all hunker down through these challenging times, it is comforting to remember that there will be light at the end of the tunnel. A voice of calm and reason in this time of uncertainty has been our Windermere Chief Economist, Matthew Gardner. While he is expecting an economic slowdown accompanied by a […]
Real Estate Remodeling Cost vs. Value   Every year, Remodeling Magazine evaluates which projects bring the most return at resale in different markets around the country in their “Cost vs. Value” report. While returns have dipped nationwide due to growing costs and consumer anxiety, Seattle still saw better pay-off on remodeling than the national average. The chart below shows cost vs. […]
Real Estate Annual Seattle-Eastside Real Estate Report: A Look Back at 2019   A strong local employment sector, very low mortgage interest rates, and the most balanced market we’ve seen in two decades each contributed to increased sales velocity in 2019.   While the number of homes for sale increased overall in 2019 as compared to 2018, the higher rate of sales throughout the year resulted in […]
Real Estate Q3 2019 Reports: Market Update   Q3 was the most stable and balanced market we have seen in years. With very low mortgage interest rates compelling buyers to act and fewer homes for sale than we saw last fall (when a flood of homes came to market), buyers and sellers are each finding their own place in a more equitable […]
Real Estate Q2 2019 Reports: Market Update   Changes in the home lending environment drove down mortgage interest rates in Q2 to their lowest levels in years, giving buyers more buying power for their money and stimulating demand for available homes on the market.   The number of homes for sale is up markedly, especially in Seattle, as is the number of […]
Real Estate New Real Estate Excise Tax (REET) Rate for 2020   Now that Washington State Senate Bill 5998 has been signed into law, our local real estate excise tax—the tax paid when you sell a property—will be getting a facelift in 2020. The flat rate of the past will make way for a new tiered system which gives owners a tax cut on the first […]
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Andrea Iverson

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