Changing Market Perspective
In this episode, we would like to put some perspective on the real estate market and help you see that the overall picture is still quite good. The latest Seattle Times article headlined with “Average Seattle-area homes selling below list price for first time in 4 years.”
It’s true that homes are now selling for less than asking price across our Seattle area region – and that is a good thing. Some, but not all are selling for less than asking. Some are selling for the asking price, and some are still selling above asking price – just not very often.
Yes, the market has softened, but it has only softened to the point that we would now call this a “balanced” market, rather than the “Seller’s” market that it has been for several years. This is a very good thing. A balanced market is when there are enough homes on the market to allow for 3 – 6 months of remaining inventory at the current rate of purchasing. Below 3 months, we consider it a “Seller’s” market, above 6 months, we consider it a “Buyer’s” market.
The inventory levels across the region generally range from a low of 2 months to just under 4 months. Homes are still selling. When we compile our stats every Monday morning, we find that anywhere from 80 to 125 homes have just gone pending in the last 7 days on the Eastside alone. And Seattle continues strong as well – despite the news coverage that tends to sensationalize and put a negative spin on the market.
Homes are selling. Not with multiple offers, and maybe not even at full asking price, but they are still selling. Isn’t this how real estate used to be?
Our market needed correction and the slowdown has accomplished that. Buyers can breathe for the first time in several years, and they are. But they are still buying. The market is alive and well – even give the seasonal slowdown that we normally experience this time of the year.
Buying a home is one of the biggest investment decisions anyone will make. In order to make the right decision, you need a real estate agent who will work on your behalf and legally represent your best interests. Jim & Bill will do all that and more to help you find your ideal home.
Jim & Bill rank among the top-selling agents nationwide. They strive to make the process of selling a property as painless as possible by walking clients through every step, keeping them informed and minimizing surprises. They know the market and how to make the most of it, leaving you in the best possible position for your next move.
When you’re selling your home, you want to maximize your return on investment. Small things like house cleaning, yard care, furniture staging and professional photographs all make a big difference. Badgley Real Estate Services has cultivated relationships with many excellent service providers to ensure you get the most out of your home sale. Our services are included when we represent you, at no extra charge.
Since 2008, Jim and Bill have guided more than a hundred individuals and families through the process of downsizing and moving. Many seniors find the eventual need to downsize, whether to simplify their lifestyle, cut costs, or be closer to family. Bill and Jim are happy to offer support and guidance to their clients during every step of this emotional and often confusing transition.
As regional experts in Senior Downsizing, Bill and Jim are often called upon to speak at community events, have been quoted in The Seattle Times, offered guidance to other agents and are trusted by the area’s best senior communities.
- A personalized schedule with the steps explaining the entire process and needs to accomplish your move.
- Preparing your home to sell for its highest potential including cleaning and repairs.
- Coordinating and working with licensed, bonded and insured contractors that we trust, from a simple cleaning to a full remodel.
- Marketing of your home with professional photos and Windermere’s exclusive online marketing tools.
- Arranging expert organizers, movers, packers, cleaners, charity donations and other needs before and after moving-day.
- Follow ups after closing to ensure you’re getting settled into your new home.
With over 40+ combined years in the real estate industry, Jim and Bill have a wealth of knowledge in regards to all types of real estate transactions in all different types of real estate markets. Even if you are unsure whether buying or selling is the right decision for you at the current time, Jim and Bill are always willing to give their advice with no expectations attached.
Your mortgage is one of the most important considerations of your real estate investment. In choosing a lender, you want someone with experience, knowledge, quality, honesty and integrity, and who has the ability to navigate the myriad of changes that the industry has seen over the past few years.
Jim and Bill have had the opportunity to meet hundreds of lenders, and they can connect you with highly recommended lending partners that best matches your needs.