Whether it’s your first or your fifteenth transaction, buying a home is a significant financial decision that demands some measure of caution. Regardless of the property type, it is wise to operate from the point of view that most homes have flaws (even when they’re newly constructed). Hidden safety concerns and significant repairs can add up quick, so it’s a good best practice to avoid surprises and have a prospective home thoroughly evaluated by a certified, experienced home inspector.
If you have been following the local news you are probably aware that our torrid hot real estate market is shifting. What should we make of this? Is this 2008 to 2012 all over again? The good news is no.Historically, our real estate market fluctuates with 5-to-7-year up-cycles and then takes a 6-to-12-month breather where prices may drop 5-to-10-percent before heading back up for another 5-to-7-year-up-cycle. This shift can happen quickly and that is exactly what happened this time. Back in December, clients were asking me how long the crazy market would last and my response was that I saw no indication of an end, yet a few short months later, it happened. This is a macro-trend and it is important to know that each neighborhood has its own micro-trend dynamics and degree of change.
In a recent Puget Sound Business Journal article, Emily Parkhurst declares that “This is the best time to list your house for sale in Seattle.” The dates she’s referring to? The first couple of weeks in May. As the feature describes, “houses listed between May 1 and May 15 sell 20 days faster than the yearly average.” What’s more? “They also sell for an average of $2,600 more.” These dates apply to most of the market in the United States, but are even weightier in a market as hot as Seattle’s.