June 2015

The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different! We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your...

At the end of June, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and...

The National Association of Realtors’ (NAR) latest Existing Home Sales Report revealed that first time homebuyers made up 32% of all sales in the month of May; marking the highest share since September 2012 and up from 27% the same time last year. NAR’s Chief Economist, Lawrence Yun, cited “strong job gains among young adults, less expensive mortgage insurance and lenders offering low down...

I have not been involved with a house sale of this type in the past but the processes Tony Meier had in place provided an environment that exceeded my expectations. At my first meeting with Tony he explained his role in the sale process and the current market condition.  Two items were important to me 1) a quick sale and 2) once a price was given to the public it would not be lowered.  To support...

Listed for $649,500 - Click here for more details Set back on a quiet street in Olde Morrison Place on English Hill, sits this elegant two story home. The spacious, “light-filled” floorplan boasts 2,783 s.f. and features 4 bedrooms, 2.25 baths plus a den and bonus room on a 8,092 s.f. lot! The original owner has meticulously maintained and extensively updated this home - including remodeling the...

Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey. In an article in Housing Wire, a Bankrate analyst explained: “Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin...

There really isn’t enough room here to explain what a great process we had from you working for and with us Tony. You were very responsive to our concerns and you professionally, tactfully, and skillfully negotiated our sale while protecting our interests for the best possible result. We would recommend you without hesitation to anyone wanting the very best customer service possible. In addition, to...

  The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-10.1%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength...

Home buyers are in "full sprint" mode while sellers are stalling, according to brokers from Northwest Multiple Listing Service. As a result, MLS members are juggling severe inventory shortages and multiple offers in many Seattle neighborhoods and beyond. MLS figures for May show double-digit drops in inventory compared to a year ago and double-digit gains in both sales and prices. Commenting on the...

After the housing market bust we experienced across the country in 2008, many experts have been quick to warn that a new bubble may be forming in some areas of the country. The quickest and easiest way to show how far we’ve come and how far we still need to go in regards to the ‘Peak’ is to share CoreLogic’s Price & Time Since Peak figures, used to create the map below. Many...

The inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today's market have become very steep”. The report estimates that, based on today's dollars, the average purchaser would accumulate $217,726 in increased...

Listed for $425,000 - Click here for more details Meticulously maintained and updated! The casual floorplan boasts 2,059 s.f. and features 3 bedrooms, 2.25 baths on a 15,950 s.f. lot! Many updates include painted millwork and doors, updated kitchen and bathrooms! Formal living room with beautiful brick fireplace. Spacious formal dining room with slider to deck - perfect for BBQing or entertaining!...

One of the biggest questions plaguing the current housing market is where mortgage interest rates will be at this time next year. Over the last two months, rates have begun to creep up (see chart). Though we don’t like to project rates moving forward, we do want you and your family to have the information you need in order to decide whether to wait before buying your first house or moving up to...

Some Highlights: 30-year mortgage rates are projected to increase by a full percentage point in 2016 Rates are still well below the past four decade averages The interest rate at which you borrow the funds to purchase your dream home makes a huge difference on your monthly...

Listed for $1,795,000 - Click here for more details This custom built home is situated on a private 14,430 square foot lot. Ideally positioned in the easily accessible Houghton area of Kirkland, the home features breathtaking views of the Olympics, Lake Washington & Seattle’s Skyline. Wonderful home for entertainment with cozy spaces in a great room style layout. Three separate sitting areas...

Here are the latest market charts from the MLS. Click on each image below for a larger version. Active Listings vs. Sold Listings Number of Pending Listings Median Sales Price For more information our the Seattle and Eastside Real Estate Market contact Tony Meier...

People often ask whether they should buy a home now or wait. Recently released data suggests that waiting may not make sense as prices seem to again be on the rise. Let’s take a look at some of the data and commentary on the subject: Ed Stansfield, chief property economist at Capital Economics: “The current tightness of supply conditions would normally be consistent with much faster price...

Modern town houses of brick and glass on urban street Each month, many people are faced with the decision of renewing their rental lease for another year or purchasing their first home. One of the questions that must be answered before they make a decision is – “Where are rents headed?” The Wall Street Journal recently wrote an article on this issue. Their conclusion: “Apartment rental...

National Homeownership Month actually started as a week-long celebration of homeownership during the Clinton administration in 1995. In 2002, President George W. Bush proclaimed June as the National Homeownership Month. Here is an excerpt from his proclamation: “Homeownership is an important part of the American Dream…A home provides shelter and a safe place where families can prosper and children...

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate...