Do You Believe Seattle Real Estate Has Turned A Corner? (I don't!)
Do You Believe Seattle Real Estate Has Turned A Corner? (I don't!)
Like divorce stats, etc. (ask me about my theory on Elvis Vegas weddings sometime if you want a different discussion altogether), I think all numbers are skewed, but the latest NWMLS report from the close of the 2011 December Seattle real estate market would suggest otherwise. Without me going into the fact that I disagree with my friend OB (who happens to be the President of Windermere) on whether or not we have already turned a corner as he says we have in this latest report, here is a piece of the NWMLS news release:
“Healthy marketplaces” emerging with shrinking inventory, favorable financing
KIRKLAND, Wash. (Jan. 4, 2012) – Home sales finished the year much stronger than they started, with
pending sales for the fourth quarter outgaining the first quarter by more than 3,000 transactions for a 21
percent increase, according to new figures from Northwest Multiple Listing Service.
A year-over-year comparison shows December’s pending sales (mutually accepted offers) rose more than
20 percent from a year ago. Northwest MLS brokers reported 5,237 pending sales last month, up from the
previous year when they recorded 4,359 transactions.
Last month’s pending volume exceeded the number of new listings (4,604) for the second consecutive
month. The last time such an imbalance occurred was November 2006."
As I have stated before, you all know I am a highly positive person, but this is hardly turning a corner. I agree that we are heading in the right direction, but we haven't gotten far enough to have turned a corner. Less inventory just makes it appear this way temporarily. The banks have been holding off on plenty of REO inventory and we still have that mountain to get over before we can truly be out of this latest Seattle real estate market shift.
So what do you do if you want to sell your house?
Sell it now!!! Not to sound like a typical real estate agent who just wants the listing, I swear. Here is why:
There is a historical low amount of inventory and also ridiculously low interest rates, but even that is not my reason why if you want or need to sell you need to do it ASAP.
There are buyers waiting for your homes to buy them. This is not my reason either.
Here is the real reason - the dirty little secret no one is telling you:
If you think prices will go up in Spring 2012 and you are waiting for that, then I highly suggest you sell now because when those foreclosures start truly being released rather than just the trickle we have seen so far, the prices will reflect it and there will be far more competition to deal with. In short, you will have waited too long.
Call me or email me if you want to talk further about it. It merits a discussion if you need to sell, otherwise hang back and wait for the Seattle real estate market to absorb the floodgate of foreclosures and make another shift towards the positive. It will be a couple years at least, but it will happen.
Current Magnolia Homes For Sale
Back to school is in the air and students are moving around early to make it to class on time. Watch for them crossing our streets. The holidays are fast approaching and time to start thinking about making home improvements for Winter. Have your home heating furnace cleaned and serviced. Replace batteries in all smoke detectors and consider purchasing a carbon monoxide sensor for your home. And it's always a good time to be in the know about current Magnolia real estate market values. If you would like to know, contact us! 206-236-9696
Currently, there are some wonderful listings of Magnolia homes for sale. Let us know if you would like a private showing with one of our Magnolia Realtors
3701 W. Barrett Street MLS#: 265049 Traditional Magnolia home design with modern amenities, panoramic views and 5 bedrooms in a house walking distance to Seattle's public and private schools
2577 W. Viewmont Way W. MLS#: 223196 Classic Magnolia Tudor charm in an updated package as kitchen features Wolf, Subzero & Bosch appliances and heated tile floor and double walk in shower. Sound and Olympic views from deck off master
3209 W Lynn Street MLS#: 254688 - A delightful Magnolia town home with lower level work suite plus two car garage with secured parking, 3 bedrooms, media room and elevator
Great Seattle Homes For Sale Highlight: 4022 Pasadena Place NE, Seattle 98105
- 2 Bedroom
- 1.5 Bath
- Built 2009
Sunset Hill View Condo!
Sunset Hill View Condo!
5615 24th Ave NW #46, Seattle 98107
$289,900
Light filled corner Ballard condo unit with open Northwest views of Olympics. West end Ballard location in the heart of the best of Ballard.
You will love living here with bright sunny outlooks in all rooms, granite slab counter tops, SS appliances, cherry hardwood flooring, tiled bath & beautiful two sided gas fire place.
Enjoy gorgeous sunsets everyday from your private western facing corner balcony. 2nd bedroom converted from original home office/den w/ $5,000 custom built King size murphy bed
- MLS # 270308
- 2 Bedroom
- 1 Bath
- Built 2006
- 827 Square Feet
- Views!
If you are interested in Ballard real estate, please let us know! Cooper Jacobs has great Ballard Realtors! realestate@cooperjacobs.com. Listed by Steve Craft, Cooper Jacobs Real Estate: (206) 478-2900
Magnolia View Homes Tour
We toured all the latest in Seattle’s Magnolia neighborhood as well as some other Magnolia homes we have just been too busy to get into before today and the inventory is pretty interesting on both the A Hill and the B Hill.
Magnolia View Homes In Decent Price Ranges…
Just looking at the mid $600k range to mid $800k range in Magnolia can give you choices with lots of big Puget Sound views. In fact in the low and mid $700k range, there are IMPRESSIVE Magnolia view homes for sale.
My favorite Magnolia home on the market right now is in the high $700k range, but has this fabulous 2 car garage off the alley which is modern but was built perfectly to go with the house. The house itself is loaded with all the spaces I personally look for in a home and a great option for Magnolia buyers. Homes in Magnolia do tend to sell faster than Seattle real estate overall right now. This is not always the case, but overall Magnolia tends to be a stronger market force.
Magnolia real estate market update: We just sent out a postcard to about 1300 Magnolia homeowners to let them know about our latest Magnolia homes sale – 3 weeks on the market with multiple offers and sold for over list which happened to also be about $50k higher than any other Magnolia real estate agents told the seller their home was worth. We go the extra mile for YOU and really take the time to evaluate the market value of your home so that you are not leaving money on the table.
Wallingford Real Estate Market Update
Looking at what is going on in the Wallingford Real estate Market in Seattle, WA.
If you are wondering what Wallingford homes for sale are on the market now and what is selling, then here is a quick update for the beginning of summer 2011 in the Wallingford Real estate market.
Actives - Wallingford homes for sale currently on the market and listed in the MLS:
There are 12 current Wallingford homes for sale listings ranging in price from $318,000 to $820,120 with a median price of $478,560. The average days on market for these is 97 days. The average square feet of these Wallingford homes is 2110 square feet. The average dollar per square foot is $227.87. You can find these homes on Thackeray Place NE, 5th Ave NE, Interlake Ave N, Latona Ave NE, N 46th St, N 50th St, and Corliss Ave N, but you can also see everything for sale here - updated with changes from the MLS: Wallingford homes for sale
Pending Sales in the MLS for Wallingford Homes:
Already passed inspection and just going through the loan and escrow process, these are theWallingford homes that are pending. There are 11 marked pending in the MLS ranging in price from $310,000 to $1,680,000 with a median list price of $599,900. The average days on market for these Wallingford homes for sale is 106 days. You can find these on Carr Place N, 5th Ave NE, Thackeray Place NE, NE 47th ST, Woodlawn Ave N, Eastern Ave N, Meridian Ave N, N 40th St, Ashworth Ave N, and N 38th St.
Pending BU in the MLS - Pending Back Up - for a variety of reasons - not always good ones, some homes are listed this way. The listing agent or the seller is looking for a back up offer on their pending Wallingford home. There is one on Densmore Ave N listed at $597,000 which has been on the market for only 6 days.
Pending Inspection Wallingford Homes For Sale - The buyer has found their dream home and is in their inspection period. There are 7 Wallingford homes for sale that are marked as pending inspection in the MLS as of today. These range in price from $419,000 to $595,000 with a median price of $515,000 and an average days on market of 49 days.
Sold Wallingford Listings - the last 180 days
There have been 36 closed Wallingford homes for sale in the last 180 days. These range in price from $335,000 to $849,888 with a median price of $559,500 and an average days on market of 76 days.
