Category: US Real Estate

Half of Seattle homes sell in 9 days or less

June was a busy month for home buyers in Seattle. More than half of all the homes that hit the market in Seattle last month were sold within nine days, according to data from Redfin. Denver was the only city that had homes sell faster in June. Seattle has the third largest year-over-year inventory decline in the country, …

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Longer on the Market = Lower Price

Prices may be on the rise, but about 63% of homes sold at a discount compared to the list price in May, according to the 2015 REALTORS® Confidence Index Survey. The discount averaged in the 1% to 11% range. The longer a property lingers on the market, the more likely the home will end up selling at …

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Buy vs Rent: What really builds family wealth?

​ There has been recent press regarding whether or not it makes better financial sense to rent rather than buy in today’s housing market. As an example, the recently released June Summary of the BH&J Buy vs. Rent Index reported: “…as of the end of the first quarter of 2015, the housing market in the …

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King County’s median home price up almost 9% over year

The median price of single-family homes sold in King County in May was $480,942, about the same as in April but almost 9 percent more than a year ago. The Northwest Multiple Listing Service said buyers were in “full sprint” mode, competing for a dwindling number of homes for sale. There were 3,280 active listings …

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This Is No Housing Bubble

Are we ‘bubbling’ again? Home prices are rising at a more rapid pace as demand outpaces supply. Existing-home sales nationally surged 9% year-over-year in March with home prices were up 8% according to the National Association of REALTORS®. What’s more, with tight inventories plaguing many markets, the national median list price in March climbed 11% reaching $220,000. …

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King County home prices surge just shy of 2007 peak

The good news (Sellers) and the bad news (Buyers) It’s good times for Sellers, but not so good for Buyers. King County’s median single-family-home price now is within sight ​of the 2007 peak… at $480,000 median price, it’s only $1000 shy of the peak. All across Puget Sound region, single-family-home median prices posted strong annual gains. …

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Remodeling Jobs—Baths Edge Kitchens Again for Top Spot

May: National Home Remodeling Month The results from NAHB’s quarterly Remodeling Market Index (RMI) survey report on the most common type of jobs performed by NAHB Remodelers in 2014. Kitchens and Baths Kitchen and bathroom remodeling remain the two most common types of projects as they have been consistently since 2001. Up to 2009, kitchens were slightly more …

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Does owning your home make financial sense?

Everyone knows the social advantages of home ownership. However, some question the financial benefits of owning a home. Three recent studies shed some light on the issue. RealtyTrac recently released a report comparing home price appreciation to wage growth over the last two years. The study revealed that home price appreciation has outpaced wage growth …

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Why is the For-Sale Inventory So Low Today?

 Existing home inventory is low because… Many homeowners remain underwater: CoreLogic estimated 5.1 million owners ‘underwater’ as of Sept. 2014 Expiration of Mortgage Debt Forgiveness Act at end of 2013 reduced short-sale supply Foreclosure-to-REO flows have declined, thus REO sales down Many homeowners have no debt or low-rate debt…About one-third of homes owned ‘free and …

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Negative home equity continues to decrease

Housing equity rebounds to almost 90% for the nation CoreLogic’s Q3 Equity Report was recently released. As a whole, the country has recovered well from the negative equity situation that existed previously. We now stand at 89.8% equity share as a nation. According to CoreLogic’s Methodology: “The amount of equity for each property is determined …

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