How’s the Market?
Rebound in housing prices hits important milestone in 2016
Strong demand and extremely tight supplies of both for-sale and for-rent homes are pushing up housing costs. Consequently, affordability pressures are at near record levels, according to findings in the latest State of the Nation’s Housing report. “Addressing the scale and complexity of need requires a renewed national commitment to expand the range of housing…
Read More“Typical summer slowdown” may mean opportunities for frustrated house hunters (NWMLS)
KIRKLAND, Washington (July 6, 2017) – For frustrated house hunters, there’s hope: the volume of new listings added to inventory during June (13,658) was the highest total for any single month since May 2008 (14,176 new listings), according to the latest statistics from Northwest Multiple Listing Service. “This time of year we see more new…
Read MoreNWMLS: Brokers suggest improving inventory may mean “season of opportunity” for weary house hunters
KIRKLAND, Washington (June 6, 2017) – Would-be buyers who have been shut out of the real estate market should test the “real estate waters” during the summer months suggests one industry leader. “Summer might provide some competitive relief for weary buyers,” said Gary O’Leyar, owner of Berkshire Hathaway HomeServices Signature Properties, pointing to some of…
Read MoreSeattle Home Prices Double in Five Years
The Seattle Times reports that the median sales price of homes hit $700,000, up $60,000 over the past year. Demand — propelled by rising employment numbers, growing salaries and tenants desperate to escape soaring rents — has far outstripped a supply of homes for sale that reached an all-time low in February, creating intense competition…
Read MoreMust-read article on friends buying property together — from the New York Times
This is a must read. Buying real estate with other people can be great – Cynthia Creasey has often thought about buying a small apartment building with friends to retire in! When Friends Buy Homes Together “We realized we can get a better space if we buy together,” she said. “The apartments priced at what…
Read MoreSeattle-area home prices hit record highs in May, 2016
Seattle-area home prices hit record highs, according to the S&P CoreLogic Case-Shiller Seattle Home Price NSA Index released today. The headline to the press release read, HOME PRICE INCREASES EASE IN MAY ACCORDING TO THE S&P CORELOGIC CASESHILLER INDICES, but the index, at 199.86, is 3.9% higher than the peak of July 2007, and is…
Read MoreAbsentee-owned vacant homes are a problem in housing-starved Vancouver
Our neighbors in Vancouver are struggling with a housing shortage made worse by buy-and-hold investors who leave their properties empty. Vancouver prepared to go it alone on vacant home tax, mayor says About 12.5 per cent of Vancouver’s condos and one per cent of single-detached homes and townhomes – some 10,800 in all – sit…
Read MoreSo why aren’t they building more condos in Washington State?
Headline at Puget Sound Business Journal: UW study aims to find out why so few condos are being built in Seattle There are various reasons for the lack of new condos. The 2008 implosion of the condo market left both builders and lenders leery of a repeat. Building anything is now more expensive due to…
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