November Market Update 2022 | Seattle Real Estate News

What’s happening in the Greater Seattle Real Estate Market?

This recent article from Redfin says, “Seattle’s Housing Market is Cooling Faster Than any Other in the US” (https://bit.ly/3T0vzs9)…I think it is about time we PANIC!!!

Kidding aside, before we panic, let’s take a look at the numbers and then decide. Welcome to November’s Market update where we go over the latest data so you can stay informed.  

And, more importantly, we’ll interpret the numbers, so it makes sense to you. There is so much misinformation out there it can be confusing.

Be sure to stick around until the end so you don’t miss our helpful tips. Whether you are a buyer or a seller you can be empowered in today’s market when you have the right information.

Let’s dive right into the data because the numbers don’t lie. It’s important to look at both month over month numbers and, the year over year to get a full picture.

It may surprise you, but both month-over-month and year-over-year numbers show a decrease in inventory coming on the market across our region. Snohomish County saw a 16.9% decrease in inventory, King County saw a 17.4% decrease, and the City of Seattle saw a 19.2% decrease of new listings come on the market vs this same time 1 year ago.

Now, lets’ mention the speed at which homes are selling. When looking at all 3 areas, the month-over-month days on market is holding steady with minimal change. In fact, in the city of Seattle, the average days on market went down by 2 days, meaning homes sold faster in the month of October than September this year.

When looking at the year-over-year numbers all 3 areas have increased their days on market. In both counties, it’s about double the amount of time from last year, which is what we would expect given the current market conditions. 

For instance, In Snohomish County, the average time it took to sell a home in October 2021 was 13 days. In October 2022, it took 31 days. For King County, the average was 14 days last year and 26 days this October.

For Seattle, the average days on the market was 14 last year, vs this October was 19 days. Now, while these numbers show a significant increase in days on market, the current numbers reflect a more balanced or what we call a “normal market.”

Let’s talk about the sales price to list price ratio which tells us how much above or below the list price homes are selling for on average. In Snohomish County, homes went from selling for 3.1% above the asking price, to selling for 1.4% below the asking price, year over year.

For King County, homes went from selling for 4.8% above the list price to 1.4% below the list price year over year. And in Seattle, homes went from selling for 4% above the list price to .6% below the list price.

Translation? Most are selling close to the asking price.

Exactly.

Ok, what about the median home values? In Snohomish County, the median sales price went up from $680,000 to $724,900 year-over year. That’s an increase of just over 6.6%.

For King County, the median sales price went up from $825,000 to $910,000 year-over year, which is in increase of 10.3%. And in Seattle, the median sales price went up from $835,000 to $910,500 year-over year, which is in increase of 9%.

When looking at the year-over-year comparison, values are still well above what they were a year ago. And what is interesting is when you look at the month-over-month trend, Snohomish County shows a slight decrease of .7%, whereas King County and the city of Seattle show an increase of 3.4% and 2.2%.

What do all these numbers mean? Bottom line, while the market hysteria or frothiness has gone away, we currently have a relatively normal market where prices are still higher than 1 year ago. Also, most homes are selling for close to the asking price, and in some cases, even above the asking price.

That’s right! Not convinced? Check out our previous video on bidding wars. Yes, even in this market.

Now, what are the takeaways for buyers?

·         First, talk with your lender. Rates have been very volatile and trending up. Do yourself a favor and briefly touch base with your lender on a weekly basis to make sure nothing has changed regarding your qualifications or affordability.

·         If possible, negotiate with the seller to help pay for a rate reduction on your loan. The amount of money the seller spends on your rate reduction is usually WAY more beneficial to you than taking that same amount of money and reducing the purchase price.

·         Even though rates have gone up dramatically since the beginning of this year, it could still be a good time for you to purchase. Buyers now have more negotiating power and options with far less competition.

How about you sellers?

·         We still don’t have a lot of good inventory on the market. So, make sure your home looks fantastic. Not ok, not good, but fantastic. You can do this, even with a limited budget. Reach out if you need tips!

·         Price your home competitively based on the most current data, and by that we mean look at the current pending homes that are under contract not the sold homes that are months old as they won’t provide you with the best data. When you price it competitively you retain power and leverage in the sale. That way you are not hoping and praying for some unicorn buyer.

·         We still recommend our sellers to have their home inspected prior to going on the market, order preliminary title, and have top notch marketing so you stand out.

How do YOU interpret these numbers? Do you think it’s still time to panic? We’d love to hear from you in the comments below.

While the Greater Seattle area real estate market has cooled, we have not entered “crash” territory.  But we have officially entered into a more “normal” market.

If you like this type of content, be sure to like and subscribe so you can stay in the know! And be sure to reach out with your real estate needs. Over and out.

September Market Update 2022 | Seattle Real Estate News

What on earth is happening to the Greater Seattle Area real estate market? Is it time to panic?

In this brief video we are going to go over the latest data. So if you want to stay in the know please be sure to watch the entire video because there are a couple of things that will probably surprise you.

Without further ado…let’s talk numbers.

We always like to look at the year over year comparison as well as the month over month to get a full perspective.

(Watch video to see the charts)

So what does this all mean?  I’ll give you my thoughts, but I’d love to hear what YOU think. Please leave a comment below. Is there anything you find surprising with this information?

Here is what I find interesting regarding the data. Whether looking at the year-over-year or month-over-month numbers, the number of new listings that have come on the market is down. In other words, fewer homeowners are putting their homes on the market. That being said, there are fewer buyers competing in the market vs this time last year.

The other interesting thing to point out is that currently, neither buyer or seller have much of an upper hand or a clear advantage. Sure, we have more inventory than 6 months, or a year ago. But it’s still relatively low inventory, which is keeping prices propped up. Because we have higher interest rates than we’ve had in a long time, not as many buyers are competing against one another. So while many sellers are having to lower their price in order to sell, it’s not so dramatic as to call this a buyers’ market.  Folks, we have a normal market, at the moment anyway.

Also, interest rates have fluctuated a lot. Not long ago, they were close to 6%, then they slid to around 5.2% earlier in August. Now, they are in the high 5%’s again. Obviously, this has a huge impact on affordability and purchasing power.

This is what is happening in the market now. What does the rest of the year look like, or next year for Seattle area real estate? That’s what we are going to talk about in our next video. If you like this type of content, please tap that like and hit subscribe buttons. Thanks for watching.

July Market Update 2022 | Seattle Real Estate News

What is happening in the Greater Seattle Real Estate Market now that we are halfway through the year?

Welcome to July’s Market update!

We will go over the most recent market stats and current market conditions. And, as always, we’ll mention key points so whether you are a buyer or seller, you are in the know.

Let’s first briefly summarize what’s happened thus far in 2022. What a year it has been for real estate across the Greater Seattle region! For the first 3 months of 2022, it felt like home prices were on a rocket ship heading straight up. Then, around mid-April it felt like someone hit the breaks, hard. That someone was the Federal Reserve, and they hit the breaks by raising interest rates rapidly. By mid-April, rates had gone up to 5%, which is a huge jump from the 3.1% at the start of the year.

In the second quarter of the year rates continued to rise but not as rapidly. In a nutshell, these extreme rate hikes coupled with the dramatic rise in home prices has led to where we are now, a more flat market. This means home values are not rising. But, because we still have relatively low inventory, prices are not dropping dramatically either. In other words, homes are selling close to their asking prices. Now, this is a broad stroke statement, because it depends on the specific home; the location, the price point, the condition, etc.

Yes, there are many sellers who have even had to lower their prices in order to get their homes sold. This is a very different market from a few months ago when homes were selling for 12% above their asking price on average. So, let’s dive right into the numbers. Also, it is important to note, we will sometimes share the year-over-year numbers (that’s June 2021 to June 2022) and sometimes mention the month-over-month numbers when important.

In May 2022, Snohomish and King County both saw an increase in the number of homes come on the market (in other words, more inventory). While the City of Seattle had a decrease in inventory. But in June, all 3 areas saw an increase in inventory. Snohomish County saw a 15.3% increase in inventory, King County saw a 7% increase, and the City of Seattle saw a minor increase of about 1% of new listings come on the market vs this same time 1 year ago.

Now, lets’ mention the speed at which homes are selling. Interestingly enough, even though we have had an increase in inventory, and a decrease in the number of buyers competing, homes across our region are still selling rather quickly. Keep in mind, some of these numbers do lag because most of the homes that closed in June 2022 were actually listed in April or May, which is when the market was more robust.

For instance, in Snohomish County, the average time it took to sell a home in June 2021 was 9 days. In June 2022, it took 12 days. For King County, the average was 10 days last year and 9 days this June. For Seattle, the average days on the market was 11 last year, vs this June was 8 days. When looking at these numbers you might think the market is just as hot as earlier this year or last year. However, we expect that in the coming months the numbers will show it now takes longer to sell a home on average.

Let’s talk about the sales price to list price ratio which tells us how much above or below the list price homes are selling for on average. In Snohomish County, homes went from selling for 8.5% above the asking price, to selling for 2.2% above the asking price, year over year, which is a decrease of 6.3%. For King County, homes went from selling for 8.4% above the list price to 3.5% ABOVE the list price year over year. This is a decrease of 4.9%. And in Seattle, homes went from selling for 6.6% above the list price to 5% above the list price, which is a decrease of 1.6%. What does this all mean? To put it simply, homes were selling for way above their asking prices earlier this year and this time last year. However, as mentioned earlier, we are seeing homes sell much closer to their asking prices.

What about the median home values? In Snohomish County, the median sales price went up from $705,000 to $790,000 year-over year. That’s an increase of just over 12%. For King County, the median sales price went up from $865,000 to $930,000 year-over year, which is in increase of 7.5%. And in Seattle, the median sales price went up from $885,000 to $971,000 year-over year, which is in increase of 9.7%. When looking at the year-over-year comparison, values are increasing across the board. However, if we look at the month-over-month trend, this paints a very different picture.

The following numbers are the most interesting we are going to share in today’s market update. Snohomish County’s Median Sales Price in May was $810,000, while June’s median Sales price was $790,000. This is a decrease of 2.5%, or $20,000 in home values. King County also saw a decrease in value because in May, the median sales price was $1,003,000, while in June, it was $930,000, which is a decrease of around 7% or $73,000. And in the City of Seattle the median sales price was $996,000 in May, while in June it was $971,000. That’s also a decrease of 2.5% or about $25,000.

Now, this is a big deal because the data shows us prices have come down from their all-time high. Not to beat the dead horse, but this was inevitable given the huge surge in prices coupled with the huge surge in interest rates. So, what are this month’s tips and takeaways?

Let’s start with buyers:

·         Should you wait to purchase if prices might come down more? Not necessarily. We are not fans of trying to time the market. More importantly, the answer depends on your affordability and personal needs. When you find a home that meets your desired criteria, timing and you can afford it, you should consider a purchase. At the same time, currently you may also be able to do some good negotiating to get a better deal.

·         Speaking of which, when you are negotiating with a seller, it is often more valuable to you as the buyer to get the seller to pay towards your closing costs or, pay down your rate vs. merely reduce the asking price. You can play with the numbers with online calculators, but you’ll soon see that you can easily come out ahead with certain strategies. Talk to your lender about the best option for you.

Now for you sellers.

·         When you are pricing your home, you shouldn’t just compare what your neighbor’s house sold for earlier this year. That’s because rates were lower, and the monthly mortgage was more affordable. Instead, try to compare to the active homes for sale in your neighborhood. Or, better yet, compare to the homes that just went under contract.

·         Because this is no longer an extreme seller’s market, try to make sure your home looks top notch. First impressions count more now since there are not as many buyers competing for homes. Also, be sure to set the right expectations upfront so you are not stressed if your home takes a bit longer to receive an offer. You may have to pivot or even lower your price to get it sold.

3 Home Selling Challenges | Seattle Real Estate Market

Imagine. You’re a home seller and let's say you've been proactive with preparing your home, made any necessary repairs, and you’ve got great marketing in place to get buyers interested. What on earth do you have to worry about? Well, maybe nothing. But In today's video we are going to go over 3 recent challenges our sellers faced when selling their properties. And believe us when we say, these were VERY unique curveballs that nobody could have predicted. Let’s get right into it!

3 More Signs of a Cooling Market | Seattle Housing Market 2022

Have you heard the news? There are even more signs the Greater Seattle real estate market is cooling.

Bidding wars have exited stage right and price reductions are becoming common place.

By now, most everyone is catching on to the fact that our crazy seller’s market has gone away. Gone are the days of bidding wars all over the place. At least for now.

Today, we are going over 3 of the latest factors indicating that the greater Seattle Real Estate market continues to soften and it doesn’t look like this will end anytime soon. Let’s get right into it.

Our local market peaked in April with such dramatic increases in both prices and rates that buyers could no longer afford to buy a home, or at least not the one they had envisioned just a month earlier. If you want to see how and why so many buyers can no longer afford a home (despite their desire to make a purchase), then check out this video linked here (https://youtu.be/OPgJShXNvAc).

So what are these 3 latest indicators that show our market is in a longer term slowdown? Number 1: Industry layoffs. Zillow, which is based here in Seattle, laid people off earlier this year. Now Redfin and Compass, both real estate brokerages, have laid off employees as well. Redfin, which is also based here in Seattle has recently laid off 500 employees. You can read about it in the article linked here (Seattle Times Article: https://bit.ly/3ndA1WU). Glenn Kelman, the CEO of Redfin commented, “We could be facing years, not months, of fewer home sales. I said we wouldn’t lay off people unless we have to. We Have to.”

Compass real estate, which has 11 offices locally, has also laid off 450 employees. And that’s not all. Redfin, Compass and Zillow stocks are all currently hammered. At the time of this recording, Redfin and Compass stocks are at all-time lows and Zillow stock is down significantly.  

Number 2. Slowing Housing Starts. Another telltale sign of a slowing housing market has to do with this term “housing starts”. Remember housing starts are an important data point and refer to the number of new home construction projects that have begun during any particular month.

Housing starts in the US sank 14.4% from April to May in 2022. That’s a big deal. So why is this important to follow? Because builders can’t afford to break ground on new construction if buyers can’t afford to make the home purchase once completed. Due to the rapidly rising mortgage rates, inflation, and cost of materials, it has become more difficult and risky for builders.

One local builder we recently talked to had to drop prices on 3 of the 4 homes that he put on the market over the past 4 months. Those price drops have ranged anywhere from $100,000 to $500,000 with the $500,000 price drop being on a luxury listing. So, to incentivize buyers he has been forced to drop prices.

Bear in mind, we still don’t have enough supply of homes. Sure, inventory is slowly creeping upwards. But the demand has gone down simply because of high prices and rates, not because we have too many homes on the market. When the Great Recession first hit housing in 2007 builders stopped building. Eventually, after several years of too much inventory, this reversed and became a lack of inventory. So, we still need builders to build. But we also need buyers to be able to afford the new homes.  

Number 3. Boots on the ground and networking with active agents. This refers to both our personal experience working with buyers and sellers AND by talking to other full-time brokers. In a rapidly softening market like this one, this can often provide a better indicator of the state of the real estate market versus simply looking at the monthly market stats, which often lag behind real time data. But If you are interested in looking at the latest numbers, be sure to check out our June Market update linked here (https://youtu.be/S-FUJDjzd9g).

Every broker we have talked to over the past 2 months has noticed a significant slowdown. For instance, at our latest monthly office meeting, all the brokers agreed that the market is no longer a slam dunk for sellers. Yes, clean, move-in ready and well-priced homes are selling successfully – meaning relatively quick and a good sales price.  But, IF the home isn’t well priced, well marketed or has something challenging with the home (like a weird layout or needs fixing up), it is going to sit on the market.

Will prices slide to a point of a market dump? The answer is, it is still too early to tell. If jobs remain strong and we maintain a relatively low supply of homes for sale, then prices shouldn’t go down drastically. These past 2 years have been a roller coaster ride and we are here to keep you in the know.

See you next time!

Why You Can't Afford a Home! | Seattle Housing Market 2022

This Seattle Times article headline reads “Seattle’s red-hot home market is cooling. Here are the 3 signs.” (Link to full article: https://bit.ly/3HBrjLE)

A big thanks to the Seattle Times, because it appears they are watching our YouTube channel. Yeah!

Sometimes the media is late to the game, or may not tell the whole story. But this article is timely in reporting that our greater Seattle real estate market is cooling.

In it, the Seattle Times reports the following 3 main points…

1.     “Homes aren’t flying off the market as quickly.” This is correct and echoes what we reported in our previous video, that homes are taking longer to sell.

2.     “Fewer buyers are taking the plunge.” True. With prices and rates higher, fewer buyers are making offers. The level of uncertainty has increased, which has also contributed to buyers taking a pause from the market.  

3.     “Prices are leveling off.” Also correct. Generally speaking, homes are currently selling closer to their list prices. No longer are the majority of homes selling for WAY above their asking price. Of course, this is a case-by-case basis as some still sell above the asking price, and others below.

Now we are not saying the Seattle Times hijacked the information from our June market update, but it makes me wonder?

Now the question is. “Where are we headed?” Well, tough to answer as we have opposing forces. On one hand, we have rising interest rates, which make it hard to afford a home. On the other hand, we still have low supply, which props up the prices.

To put the affordability issue into perspective, here are 3 graphs to compare. To keep it simple, the mortgage payments listed include principal and interest, not taxes and insurance. The first graph shows a home purchase in June of 2020. The purchase price is $1,000,000, with a 20% down payment and a 3% interest rate. This means the monthly payment, is around $3,373.

The second graph shows what happened in 2021, which is that home values went up, but rates stayed low. So, this same house now costs around $1,200,000, with a 20% down payment and a 3% interest rate. Now the monthly payment is around $4,047. This is a difference of $674 per month.

Ok, so here is where things get REALLY interesting. This third graph shows what happens when BOTH prices AND interest rates go up. The house that cost $1,000,000 just 2 years ago currently costs around $1.4 million. The 20% down payment is much larger, and the interest rate is much higher at 5.8%. Now the monthly payment is a staggering $6,572.

This is MIND-BLOWING as it showcases the affordability problem. Just 24 months ago, someone buying this house would have a payment of around $3,373. Now, that same house, with the same location and condition has a monthly mortgage payment of around $6,572. That’s an increase of around 95%, or $3,199 per month. This is almost double of what the mortgage payment was just 2 years ago!

Many people could afford the rising prices, OR the rising rates. BUT, to have both rapidly rising prices AND rapidly rising rates is a double whammy that forces buyers out of the market. Yes, salaries have gone up. But not nearly enough to keep pace with home affordability.

The relatively low supply of homes is keeping home values at currently high levels. However, now that we are seeing the supply inch up, this is starting to cause motivated sellers to be more careful in pricing their home. To stay competitive, this means sellers may need to reduce their asking price in order to sell.

There are so many forces at play…inflation, supply chain, stock market, the national and global economy, Russia’s invasion of Ukraine, the pandemic and the list goes on. There are always going to be predictions, but these are educated guesses at best. Whether you are a buyer or seller in our local Seattle Area Real Estate market, the key is to stay informed. Then you can determine how you want to navigate and respond accordingly.

June Market Update 2022 | Seattle Real Estate News

What is happening in the Greater Seattle Real Estate Market? In one word, shifting.

Welcome to June’s Market update where we dive into the numbers and the current market conditions. First, we’ll go over the latest market stats, then, just as important, we’ll tell you what this means for both buyers and sellers.

Let’s get into it. First, the inventory. Snohomish County saw an increase in inventory of 26.2%, and King County saw a 12.1% increase year-over-year. On the other hand, the city of Seattle saw a 10.9% decrease in new homes come on the market vs this time 1 year ago. Even though Seattle saw a drop in inventory, when looking at the region as a whole, more homes came on the market. Obviously, when we have an increase in inventory there is more competition for sellers, giving buyers more options.

Now, lets’ mention the speed at which homes have been selling. In the month of May, homes across our region sold faster than the same time last year. In Snohomish County, the average time it took to sell a home in May of 2021 was 8 days. May of 2022, it took 9 days. For King County, the average was 14 days last year AND only 9 days this May. For Seattle, the average days on market was 18 last year, vs only 12 days this May. That being said, these are the numbers of from homes that went under contract in March and April, when the market was hotter. Currently we are seeing increases in the time it takes for homes to sell.

Another revealing statistic is the Sales Price to List price ratio because it tells us how much above or below the list price homes are selling. In Snohomish County, homes went from selling for 9.3% ABOVE the asking price, to selling for 6.3% ABOVE the asking price, year over year, which is a decrease of 3%. For King County, homes went from selling 9.4% ABOVE the list price to 8.7% ABOVE the list price year over year, which is a 0.7% decrease. And in Seattle, homes went from selling for 7.8% ABOVE the list price to 10.2% ABOVE the list price, which is an increase of 2.4%. This makes sense as the City of Seattle did not have as many new homes come on the market as the other areas, so there was more buyer competition driving the prices up.

In Snohomish County, the median sales price went up from $695,000 to $810,000 year-over year. That’s just over 16%. For King County, the median sales price when up from $875,000 to $1,003,000 year-over year, which is in increase of 14.6%. And in Seattle, the median sales price went up from $893,500 to $996,000 year-over year, which is in increase of 11.5%. When looking at the year-over-year comparison values are increasing. HOWEVER, if we compare to last month’s values there is a different story. Snohomish County’s Median Sales Price in April was $841,000, which is $31,000 more than this month. King County saw an increase in value by only $3,000 and the City of Seattle by only $2,000. Here is the important message. We have seen a slowdown in the dramatic home appreciation that we’ve all witnessed the past 2 years.  And we expect next month’s market numbers to show even more significant decreases in median home values. 

Whether you are a buyer or a seller, everyone is asking, WHERE is the market headed? One thing is for certain, home values are NO LONGER appreciating like they did last year and earlier this year. Do NOT rely on Mainstream media, because they are behind the curve on reporting this. Most of the nation has seen a cool down. Here in greater Seattle, the market HAS also flattened. And we believe this more or less “flat market” (where home prices stay the same) will continue. Home values might even start softening.

Now here are our takeaways for both buyers and sellers. Let’s start with Sellers

1.        Temper expectations. Inventory is still low, but it is increasing. The length of time it takes to sell a home is also increasing. Bidding wars are not as common. If you do receive multiple offers, consider yourself fortunate. You may be thinking, “but my neighbor’s home sold 3 months ago and received 20 offers.” True, but that is not today’s market. If you receive multiple offers, even if they don’t increase drastically over the asking price, consider that a win.

2.        Do not overshoot your list price by going on the market too high. Your home will sit on the market without enough showings or offers. Currently, 1 out of every 5 home sellers is having to reduce their price. By overpricing, this ends up costing the seller even more money and frustration. The best pricing strategy is to price competitively, according to what market data is showing. Depending on how the market reacts, you may need to make a price adjustment.

3.        This is still a fantastic time to sell. Your home’s value is incredibly high. Depending on your neighborhood and the specifics of your home, you could still sell anywhere from 10 – 24% MORE than you could have last year. This is especially true if you have a nice home in a good location. Keep in mind, even though the market has flattened, historically we still have low supply, so buyers are excited to see good homes come on the market.

Now for you buyers:

1.        Finally, you are getting some relief. Because much higher prices and interest rates have left many buyers on the sidelines, you don’t have the feeding frenzy environment to compete with. Well priced homes in popular neighborhoods still sell quickly and can garner multiple offers. But as mentioned, it is a far cry from just a couple of months ago. Our advice is to be patient and really find a home you love, especially since you no longer have the overwhelming competition from other buyers. Even better, summer is often a great time to shop for a home in our region because many buyers take a break. While they are distracted with summer plans and travel, you can use this to your advantage.

2.        Interest rates have come down a little bit from their recent high of 5.65%. At the time of this recording, you can lock in a 30-year fixed rate mortgage at 5.25%. Now check this out, you can drastically save on your monthly mortgage payment and still get a 3.9% interest rate. What’s the catch? You have to be willing to take on a 5-year adjustable-rate mortgage. Now, we are NOT advocating for everyone to take on an adjustable-rate mortgage just to get a lower rate, because this could get you in to trouble. However, if you know with certainty that you don’t plan on owning the home very long, say you are planning to relocate and sell it within that 5-year timeframe, then an adjustable-rate mortgage could be a good way to go.

3.        When you find homes that have sat on the market for more than a week or two, you have the potential for negotiating power. This could mean contingencies that are more in your favor and a lower purchase price. YES, you CAN now negotiate lower prices if the sellers haven’t received offers and they are motivated to sell.

Be sure stay in the know regarding the Seattle Area real estate market, make it your mission to click the like & subscribe button on our YouTube channel. See you in the next video!

More Deals Falling Apart | Seattle Housing Market 2022

With the market softening, did you know more deals are falling apart in the Greater Seattle Area? Sure, bidding wars are still around. But nothing like what we experienced last year and earlier this year. In fact, some sellers are having to lower their asking prices just to get an offer. So, what can a seller do to ensure a successful sale? In this video we are going over the 5 main reasons deals fall apart and how sellers can be proactive rather than reactive. Click the link to watch now!

Inside a $1,285,000 Quintessential Seattle Home

Welcome to 953 22nd Ave in Seattle's Central District! Sit back an enjoy the view as Sterling tours you through this quintessential Seattle home. Terrific location, mere steps to PCC, restaurants, shopping & downtown. Originally built in 1909 this beautiful home with a full downstairs  apartment is sure to impress. It is the perfect blend between old-world charm and modern updates.

Signs of Market Cooling | Seattle Real Estate News

News Flash! Did you know we are in a shifting housing market? This isn’t theory and it is not hypothetical.

Yes, the Greater Seattle Real Estate Market is shifting…and it is happening right now. In today’s short video we are going to look at 3 indicators that buyer demand is dropping. Let’s get into it.

Looking at the most recent sales numbers is essential to staying informed on market trends. If you want to know the monthly market stats, then check out this video: https://youtu.be/qJxIwwnjKjc. However, if you just look at closed sales you would think we are still in a white hot-sellers’ market, which is not the case. Real estate isn’t liquid like the stock market and noticing changes can take more time. To stay informed about the Seattle Area Real Estate market, there are several other factors to consider besides closed sales.

The first indictor telling us that buyer demand is cooling is real time data from fellow real estate brokers AND our current experiences representing buyers and sellers in our local market. This includes active homes for sale, signs of rising inventory, the most recent pendings, the number of showings and how many offers are received.

As an example, we recently listed and sold a home, just north of Seattle, in Mountlake Terrace. We received 3 good offers, all above the asking price. The winning offer was $62,000 above the list price. However, earlier this year, we probably would have received 5 – 10 offers, and the price could have easily gone even higher. Many brokers we have talked to in the past week are telling us similar stories.

The consensus amongst real estate brokers is that the Seattle area market is still strong for sellers. But, it’s not the white-hot market we experienced earlier this year. Listings are receiving fewer showings and fewer offers. Yes, prices are maintaining for the most part. Still, we aren’t seeing the dramatic run up in prices we have been over the past 18 months. It’s the huge increase in both price and interest rates that have put many buyers out of the game. It’s just unaffordable for many.

Another sign the housing market is cooling concerns the market opinion. Look at this recent Gallup poll, saying that ONLY “Thirty percent of U.S. adults say it is a good time to buy a house, down 23 percentage points from a year ago and the first time the figure has been below 50%. Gallup has asked the question since 1978” (https://bit.ly/3LLisaJ). Real estate research groups like Corelogic and Fannie Mae echo these remarks of declining homebuyer interest. This is a big deal.

It is a big deal. When the majority of people think it is not a good time to purchase a home, what happens? Well, fewer people buy homes. With less demand, the market begins to soften. This is market sentiment, which is mere opinion. However, it is still important to track because perception can become reality.

The third thing we want to share with you regarding our market slowing down relates to this recent Seattle times article. The headline says “Pandemic’s vacation-home-buying frenzy beginning to fizzle” (https://bit.ly/3a268W8). This makes sense because a second home is not a necessity. It is a luxury and very appealing to a lot of folks. However, people who don’t have to buy a home as a primary residence are not as eager to pay the high prices and high rates. It’s that simple.

We all know the main driving force to real estate is supply and demand. However, other factors strongly influence the market. The national economy, local jobs, interest rates, new housing starts, market sentiment, population growth, inflation, and other factors will strongly influence our Seattle Area Real Estate market.  

Our housing market is rarely stagnant. It is fluid and always changing. We are currently at an inflection point. As homebuyer demand wanes we are constantly monitoring how this, as well as other factors, affect the market so you can stay in the know!

If you found any of this information valuable or if you just want to stay up to date regarding our ever-changing Seattle Real Estate Market, please consider clicking that ‘like’ button and becoming a subscriber on our YouTube channel.

We’d also love to hear from you. What do you think is going to happen to our market for the remainder of 2022? Please leave a comment below.

See you next time!

How to Win a Bidding War on a House | 20 Tips for a Multiple Offer Situation

Buyers, tired of losing out in this competitive seller’s market? With prices soaring, how can you get your offer accepted in this heated market? Simple, just submit the best offer. Well, it’s simple in concept, but it’s not simple or easy in the execution. 

In this fast-paced video we’ll cover 20 tips to get your offer accepted. Don’t miss our Bonus Tip! Let’s jump in.

1. Find out what the sellers’ needs are. As a buyer, the very first thing you want to do is figure out what the seller’s wants and needs are, then craft your offer around this.

2. Set a positive tone. As a buyer, you want your agent to have good rapport with the listing agent and assure them it will be a smooth process working together with another professional. Sometimes the winning offer is chosen because of the professional and positive experience the listing agent and seller have with the buyer’s agent and buyers. We are not saying that your offer is going to be chosen over another higher offer just because you’re nice. But, when it’s a close battle, having that rapport can help

3. Have your offer personally presented. Yes, having your agent present a strong offer in-person or via zoom to the listing agent can make your offer standout. Most agents simply email their buyers offer and then might follow up with a phone call to the listing agent. But you don’t want to do what every other agent does. It sets the tone of professionalism, allows us to talk up our buyers and promote the advantages of the offer.

4. Consider submitting your offer early. This comes with some risk. On one hand, this means you are showing your hand early. This could work in your favor if you have an impressive offer and the seller decides to accept it. On the other hand, the seller could use your offer to try and solicit other stronger offers. While most sellers do decide to wait until the offer review date, there are still lots of sellers who are willing to accept an early offer.

5. Provide Strong Earnest Money. The oxford dictionary defines earnest as “showing sincere and intense conviction.” The stronger your earnest money is, the more serious it shows the seller you are. And don’t worry, you have nothing to fear regarding losing your earnest money IF you keep your end of the bargain and follow the contract. Just be sure you understand the details of the contract so there is not ambiguity. On a $1,000,000 purchase, $25,000 - $50,000 earnest money is common. To stand out, offering $100,000 or more is better. Remember, the earnest money is applied to your purchase. So, if you are planning on a $200,000 down payment, why not use a big chunk, or even all of this as your earnest money?

6. Offer a strong price upfront. Sure, every buyer wants a deal. And because of that thinking, you might strategize the offer lower than what you are willing to pay because you think the seller will come back to you with a counteroffer. But in this market, that usually doesn’t happen. We can’t assume the seller is going to give you a second chance, so offer a strong price to begin with.

7. Include an escalation addendum. Having an escalation addendum allows you to jump higher in price, so you beat other offers, up to the price ceiling you choose. Are you OK losing the house you love because another buyer is willing to pay $10,000 more than you? Everyone has a line in the sand, and we are not advocating that you cross it. At the same time, just don’t live with the regret of not having offered MORE when you were given the chance. 

8. Make your escalation increases effective. In other words, make your price jumps meaningful. For instance, if you are submitting an offer on a home that is offered at $1 million dollars, don’t think that offering $500 or $1,000 more than the next offer is going to be meaningful enough to the seller. Meaningful price increases mean something like $10,000, $15,000, or $20,000 price jumps.

9. Choose the RIGHT lender. Yes, the seller and a good listing agent will care who the lender is and will do homework on that lender. Even if you’re waiving your financing contingency, it’s still prudent to have the right lender. This means someone who has a great track record of successful closings on time or early, someone who communicates well and is preferably local. Also, make sure your lender calls the listing agent.

10. If using a financing contingency, Get preliminary-underwriting approval vs the standard pre-approval. Preliminary underwriting means that your lender will put your application through the scrutiny of the underwriting process BEFORE you’re under contract for a house. This is really proactive and shows the sellers you are a safe bet and proof that you’ll make it to closing without any surprises.

11. Put more money down. When you are in the position to put 25 or 30% down, while other offers are putting 10 - 20% down, that makes your offer stand out as well.

12. Cover an Appraisal Gap. If your offer is subject to a financing or an appraisal contingency, you can sweeten your offer by covering the difference between the appraisal price and the purchase price. If you have the extra funds, this is a good tactic. You get to impress the seller with a stronger offer, and often times, it’s a non-issue anyway when the house appraises for the full value.

13. Show proof of funds. By being able to provide you have money in an account and ready to go, this is beneficial to the seller. It gives the seller peace of mind and confidence.

14. Release the earnest money to the seller. This strategy allows your earnest money to be held by the seller as a non-refundable deposit, after mutual acceptance. Most commonly, the earnest money is held by escrow. However, this demonstrates to the sellers that they have nothing to worry about. In practice, this is used when the buyer has waived all contingencies, is going all in on the offer, and has no recourse or way to back out of the transaction unless they risk losing their earnest money.

15. Waive some or all contingencies. This does not mean you should go in blind. Quite the opposite. You definitely don’t want to risk purchasing a home without doing your homework and due diligence. Why not do a pre-inspection, review the title report, and get preliminary underwriting approval from your lender before submitting the offer. Then, you can feel good about waiving some, or even all, of your contingencies.

16. Sign off on all disclosures. If your offer has already signed off on things like the seller disclosure statement, lead based paint disclosure, information verification period, HOA review, and other seller disclosures you are strengthening your offer.

17. Provide a free rentback to the seller. If you give the seller this option, it allows them the convenience of living in the home for a period of time after closing. This can be a huge help to them and make your offer stand out.

18. Have a quick closing date. Better yet, have the seller choose the closing date. Does that mean a closing as quick as possible, which is often the case? Or would the seller like a closing date that is further out. Either way, give the seller what they want. Just be sure you can deliver on what you are promising.

19. Write a “love letter.” This is a bit of a controversial one. Some agents promote this, others are against this. The advantage is to express how much you love the property and also gives you the chance to introduce yourself. The disadvantage is 2-fold. First, if your offer is not accepted you could take it more personally. Second, a lot of listing brokers are hesitant for letters to be included in an offer due to it potentially backfiring. Yes, it can open a can of worms due to Fair-housing law violations and anti-discrimination laws.

20. Offer to pay the sellers moving expenses. Sure, you can just increase the purchase price of the home. But having a strong purchase price AND being willing to pay some, or all, of the sellers moving expenses is impressive, shows creativity to your offer, and could really help them out in the process.

And our bonus tip is…

21. Allow sellers to leave anything behind. This might include any trash or that old dresser they decide not to take with them. Why not give the seller the convenience of leaving any items on the property so it’s easier on their move.

When you boil it down, there are only 2 parts to an offer. Price AND terms. It’s usually the offer with the best price AND best terms that wins. But not always. Sometimes, the seller chooses an offer with the best terms, over an offer with a higher price. OR vice versa. The thing to remember is an offer is generally evaluated as a whole. When you can provide the seller with a clean offer that has a superior price and superior terms compared to the other offers, that’s when you have the advantage.

May Market Update 2022 | Seattle Real Estate News

What is happening in the Greater Seattle Real Estate Market? And why are 6 out of 10 Americans concerned with our economy? Welcome to May's Market Update. We will go over the most recent market stats, talk about the latest in current market conditions, and mention key points. So, whether you are a Buyer or a Seller, you will be in the know! We will look at King and Snohomish County numbers, as well as the City of Seattle numbers, and compare the numbers from April 2021 to April 2022. Let's dive in!

Seattle Real Estate Market | 1 Secret EXPOSED!

Want to hear a secret about the Seattle housing market? It’s something shocking, and nobody is talking about it. According to the Northwest Multiple Listing Service, 1 out of 7 homes in the Seattle area is selling BELOW the original list price.

You don’t hear much about this do you? That’s because we are in this extreme sellers’ market. The 71% of homes that sell ABOVE the asking price get ALL the news and attention. Of the remaining 29% of homes NOT selling above the asking price, half sell at their original list price, AND the other half actually sell BELOW the asking price. So, what does this mean for you as a Buyer or Seller? Stay tuned to find out!

Buyers, listen up, if 14% of the total homes sold are selling below the asking price, you can use this to your advantage. And Sellers, it’s important for you to know how to navigate this if you are found in a situation where your home isn’t selling. When do you hold out vs adjust the price? Stick around to find out.

Generally speaking, when a home is properly marketed, but NOT selling, it comes down to the price. 

But what if it’s a dated home?

If the price is right, it will sell. 

But what if it’s a small home? 

If the price is right, it will sell. 

How about if it’s an unusual home with unique attributes? 

Again, if the price it right it WILL Sell. 

Regardless of the location, size and condition, ALL homes sell for the right price. There are SOME exceptions to this, and we’ll talk about that in just a moment. But first, here are a few signs and general rules indicating the list price is too high and a price adjustment is necessary for a sale to occur.

1.       The home receives very few or possibly no showings AND no offers within the first 2 weeks. With few exceptions, in order to sell a home, people need to preview it. If buyers are NOT previewing the property, it most likely won’t sell at the current list price.

2.       The home receives showings, possibly a LOT of showings, but no offers. This is an indication that the list price COULD be closer to the actual market value, BUT it’s likely to still be a little overpriced.

3.       The home receives showings BUT gets low-ball offers. Obviously, this indicates the market sees value in the property, because there are offers, but at a reduced price.

Now these are GENERAL rules and guidelines. However, occasionally, there are times when staying the course and NOT adjusting the price can benefit you.  

Here is an example of a home we recently listed. It’s a cool property in the heart of the city. The sellers did a great job preparing the home. And we did a great job marketing it with pictures, staging, and even an awesome promotional video.

Of course, before going on the market we did an in-depth comparative market analysis and presented the data to the sellers. After examining the information, they decided, and we supported, a list price of $1,285,000. Out of the gates we received a lot of showings. In fact, 38 showings.

PRO TIP, on average for every 7 showings, a seller should receive 1 offer. Again, this is just the average. This number will fluctuate a lot, depending on the property. But it does gives you a general idea.

So, we were getting a lot of showings on the house but no offers. 2 weeks into our listing we finally did get an offer. But it was at 1 million dollars. $285,000 less! Or about 22% less than the asking price. Our seller didn’t even bother with a counteroffer as it was too far off the list price.

Fast forward 2.5 weeks, there were several days when we didn’t have a SINGLE showing. In a market as HOT as this, you KNOW most homes are selling in less than a week and ABOVE the asking price, so this was discouraging to say the least, and an indication that the price might be too high. Why didn’t the sellers panic?

Because, we had done our homework upfront, and we knew this home had a couple of unique challenges which would not appeal to a large segment of buyers. The biggest challenge regarding the property is that it doesn’t have any garage or off-street parking. After finding parking on the street, you have to walk up a lot of stairs to get to the front door. Most buyers just aren’t ok with this inconvenience. I mean, how many of you want to park a block away and carry groceries up a bunch of stairs when it’s raining?

At the 3-week mark, we received another offer. This time, at $1.2 million. $85,000 less than the asking price. I quickly called the buyers agents who had shown the home to try and encourage a second offer. And that worked. The second offer we received came in at $1,250,000. Ultimately, after a couple rounds of negotiating between the 2 offers we got the home sold at the FULL list price of $1,285,000, no inspection contingency and a quick closing. SUCCESS! And our sellers are VERY HAPPY!

With so many showings and no decent offers, why didn’t the seller drop the price sooner? The short answer is, we had JUST enough supporting evidence – based on the buyer and agent feedback – to hold off a little longer before dropping the price.

So, the question becomes how do you know if and when to drop the price? Sellers, here are 3 key points for you.

1.       The first is, the market doesn’t lie. It doesn’t matter what you hear in the news, or even what the neighbor’s house sold for. What really matters is how buyers perceive value and respond to YOUR home. It isn’t until a home is ACTUALLY listed that you find out the truth about how the market will respond. Sometimes the market response is better than anticipated, and sometimes it’s not.

2.       It is so crucial to get DETAILED feedback from every agent and their buyers regarding the property. We regularly reach out to any agent after they preview the home to get their honest feedback. We need to hear it. The good, the bad and the ugly because it’s the market data in real time. With regard to our example, we got the feedback saying the lack of parking was the problem and a deal killer for most buyers. But we also got feedback saying that it’s a cool property with a lot of features and benefits, and the price wasn’t off by much for the right buyer. Ultimately, after speaking with the sellers we came to the conclusion that holding off a bit longer before considering a price adjustment could be prudent in order to find that unique buyer. And it paid off! Now, this can be a VERY slippery slope. And that leads to point number 3.

3.       After examining the data, don’t be afraid to adjust your price down, IF that’s the best course of action. Sellers can actually do themselves a disservice by not dropping the price soon enough if that is what the market indicates. The specifics and details of each scenario are different. So having experienced and skilled agents to navigate this gray area is crucial. There is a STRONG correlation, the longer a home sits on the market the weaker the offers become.  

Buyers, here is how YOU can capitalize. If you keep getting beat out on multiple offer situations, then try another approach. Try submitting your offer before the review date. OR, related to what we’ve been talking about, identify homes that haven’t sold after a week or more and are lingering on the market. You usually won’t have to worry about some big bidding war and this gives you a better position to negotiate price and terms. Heck, you may even get the possibility of buying the home for LESS than the asking price. Nobody else is reporting this.

If you find it interesting that 1 out of every 7 homes in the Seattle area is selling for LESS than the original asking price, then please be sure click that like button. Then Smash the subscribe button so you can stay in the KNOW regarding the greater Seattle real estate market.

Seattle Home Prices | Your Home Made MORE Than You!

Home prices are way up. Yeah, yeah, yeah…tell me something I don’t know. OK, how about this? Did you know many houses “earned” more money in appreciation than many people earned in their annual salaries?

WHAT? Yes, you heard that correctly. Home prices have gone up SO much in the Greater Seattle Area, that in many cases, homes actually earned more in appreciation last year, than homeowners made in their yearly salary. That’s CRAZY!

The Seattle Times published an article (which was originally published in the Washington Post) titled “Did your house earn more than you did in 2021?” (https://wapo.st/38eu5bO). The article states the following, “Soaring home values are thrilling for homeowners who can watch their wealth increase without lifting a finger. A new study by Zillow found that home price appreciation in 25 metro areas last year exceeded the median salary in those locations.”

The article goes on to say “The amount of price appreciation was highest in high-cost housing markets like the Seattle-Tacoma region, where the median home price grew $131,129 between December 2020 and December 2021. The median salary was $65,000, meaning, according to Zillow’s analysis, the median home made $66,129 MORE than the median resident in 2021.”

If you think this is normal, think again. This is historic price appreciation. Seattle is used to higher-than-average price appreciation, but this is next level. And it wasn’t just Seattle. The article says, “Nationally, the median house appreciation was $52,667 in 2021, which is $2,667 more than the median salary of $50,000.”

Along with this, the article goes on to say that “Rents rose 16% across the United States in 2021, so ALL you renters are feeling the financial pressure as well. And Since down payments are typically a percentage of the purchase price, the amount needed for a down payment has increased along with home values, putting homeownership further out of reach for some renters.”

For many of us, one obvious question is, “how can people afford a home?” The answer is 2-fold. One simple, cold-hard fact is that many people can no longer afford the type of home they were hoping and planning to purchase in 2022. Prices are up, interest rates are up, and the supply of homes is still way down. The 2nd important thing to point out is that we have some really high wage earners. This graph shows that roughly 1/3rd of Seattle households earn more than $150,000 annually (https://bit.ly/36E3ioZ). Keep in mind, this is household income, so often this means 2 income earners.

Thanks mostly to our robust tech sector, a lot of households will earn significantly more than $150,000. When a household earns $250,000, $300,000, $400,000 or more in annual income, the insanity in the real estate market actually starts to make sense. Some Seattle Area home buyers can bid a home up so much that this has resulted in the enormous and unusual appreciation we’ve seen over the past 2 years. Let’s talk about what this means for both buyers and sellers.

Let’s start with the buyers:

·         On behalf of all of you discouraged and wounded buyers, we know it has been brutal. If you have been shopping for a home over the past few months or year, we understand you may have scars and war-wounds. If home values are far outpacing your income, then it could be time for you to adjust your expectations and search criteria. BUT, don’t throw the baby out with the bathwater. There are SO many benefits to homeownership, and as the article clearly points out, owning real estate is a BIG part of building wealth. If you are thinking about whether or not now is the right time to buy, then you need to check out this video (https://youtu.be/zT0ZRnIP76M).

·         On a slightly positive note for buyers, we are currently seeing fewer offers being submitted on listings. From our own experience and from talking with other full-time brokers, last year we saw many homes receive 15 – 20, or possibly more, offers. In comparison, these same types of homes might receive only 3 – 6 offers now. That’s a big difference. But keep in mind that the homes are much higher in price and the interest rates have increased significantly. There are still more buyers than sellers, and most homes are selling above the asking price. But the fact that we are seeing fewer offers submitted, could very well be an early indication of the market beginning to soften. The verdict is still out on this.

·         Here is an example to make the comparison. We listed and sold a home in November of 2020. The list price was $879,000. We received 11 offers and after negotiations it sold for $1,047,500. The buyer put 20% down, which is around $210,000. The buyer secured an interest rate at 2.75% with total monthly payments of $4,167. This includes principal, interest, taxes and insurance. Now, let’s look at what a buyer would be paying today, just 18 months later on the same house. After running a comparable market analysis, the home is valued at around $1.4 million today. If a buyer put down 20% that would be $280,000. Today’s interest rates are around 5%, so a buyer’s monthly payment would be about $6,762. This is a difference of $2,595 per month!, on the same house, just 18 months later! 

Now for the sellers:

·         We often get the question from sellers, “how long will this steroid market last?” Well, nobody knows for certain. The consensus amongst market experts at the beginning of this year was that we would see a continuation of the frenzied 2021 market, still heavily favoring sellers, just a little bit tamer. So far, these predictions have been correct. The fundamentals of low supply and high demand continue to be the case across our region. However, some experts are calling for a shift in the market later this year or in 2023. With interest rates now hovering around 5% and prices having gone up anywhere between 25 – 50% over the past 2 years, this dramatic price appreciation isn’t sustainable.

·         We don’t foresee any major shifts happening over the next 3 to 6 months. But at some point, this market will change. It is not going to last forever. If rates go up to 6% in the near future, we believe this will make a big impact on the housing market. According to a recent article from CNBC, “Surging interest rates push mortgage demand down more than 40% from a year ago.” (https://bit.ly/3klIBSd) For those of you trying to time the market and sell at the high point, there are never any guarantees where and when that is. Often, we only recognize the height of the market after it has peaked as we look back. Yet, many experts believe that we could be peaking in the near future.

·         If you are considering a move, you will want to meet with a skilled real estate professional sooner vs later. That way you can come up with a plan that is going to benefit you based on your needs and timeline. What preparations will profit you the most? How can you best navigate selling and buying simultaneously? With all the moving parts and amount of money at stake, it’s important to create a plan that is going to serve you. We’ve created a whole series on the home selling process linked here (https://youtube.com/playlist?list=PLBN8dBcNd-XQud6it7OUs-3ctM3nScph-).

The market is dynamic and constantly changing. We post monthly market updates with the latest numbers and information (https://youtube.com/playlist?list=PLBN8dBcNd-XRgl-hiepyWieEGJp8rRb5T).

Seattle Real Estate Trends | Should I Buy a House Now or Wait?

With the Seattle housing market soaring, should you wait to buy a house? If you can answer YES to the next 5 questions, then you should strongly consider buying. And if you can’t say yes, you should probably wait. Let's dive in!

Seattle Real Estate Trends | Increase in Crime, What Can YOU Do About It?

Violent Crime up by 20%, shootings and shots fired up by 40%, and property crime up by 9% in Seattle, as well as surrounding areas? According to the 2021 Year-End Crime report from the Seattle PD, this growing trend of crime tragically affects many victims. And you don’t need to be a direct victim for this to impact you. Why? Because the crime level can dramatically affect PROPERTY values! In this video we are tackling the serious subject of crime, how it impacts our housing market, and most importantly what YOU can do about it.

Seattle Real Estate News | April Market Update 2022

What is happening in the Greater Seattle Real Estate Market? Welcome to April's Market Update. We will be going over the most recent numbers and mention key points. So, whether you are a Buyer or a Seller, you will be in the know! We will look at King and Snohomish County numbers, as well as the City of Seattle numbers, and compare the numbers from March 2021 to March 2022. Let's dive in!

2 Easy Home Improvements That Add Value When Selling

Curious what things will bring you the best return when it comes time to sell? Today we are going to take you behind the scenes and talk about a real life scenario of how to maximize a sale. We'll be going over 2 easy home improvements that add value when selling AND we'll also talk about things that are NOT going to be a good return.

Home Selling Process | Home Inspection Tips for Sellers

As a Seller, should you do an inspection on your own Seattle Area home before listing it for sale? In today's video we are going to go over the PROS & CONS of a "Seller Procured" home inspection. We'll also tell you what we personally do when selling a property we own. There is a lot at stake when selling a home. So, as a Seller, you want to make sure you are making smart, informed decisions. *Disclaimer: in no way is this legal advice, we are but humble real estate agents and our aim is to educate.

Will Seattle Housing Market Crash During Crisis?

What would happen to the Seattle Area real estate market if America enters another war? What would happen if we fall into a recession? How do major CRISIS effect the real estate market? If you are curious about how housing performs in uncertain times, stay tuned because THAT is what we are going to be talking about in this video!