Brace Yourselves. The Fall Buying Market Is Coming

Seattle Housing Market is Competitive But Here’s Why It’s Still a Good Time to Buy

The Seattle housing market has been extremely competitive over the past year. Listings routinely get multiple offers – many in cash – and buyers have to compete on all levels to win their dream home. Although the market remains competitive, it’s still a good time to buy.

Increasing housing prices means a good investment. Housing markets typically see a slowdown during the summer, and this year was no different. July showed a small dip in housing prices, from a median of $500,000 to $485,000, according to the NWMLS. In general, however, housing prices continue to rise year over year, which means that buying now has a strong likelihood of your investment increasing in value. This means that a few years down the road, when you’re ready to sell, you can project to have a nice increase on your home’s value. With a higher value, you’ll be able to sell at an increase and see a nice return on your real estate investment.

Competition is about to decrease. With steadily increasing housing prices, it’s a good time to buy, but buyers should be prepared to move extremely quickly when homes come onto the market. Inventory remains incredibly low – back in the spring, Seattle has the lowest ever inventory on record. While the number of active buyers decreases in the seasons to come, the ones who are active are very motivated! 

Interest Rates. Many of you will need to take out a mortgage to buy a home. What you may not know, just a small change in an interest rate can have huge impacts on your buying power. If we look back historically, we are at some of the lowest interest rates..ever. While they may not be as low as 16 months ago, getting locked in for 30 years in the low 4% range is amazing! Many economists believe that interest rates could be in the 5's as early as this winter. Combining climbing interest rates, with our current appreciation and many buyers could get priced out if they wait too long. 

It is definitely true that the current market favors sellers over buyers, and buying a home is an incredibly competitive process. However, it’s still a good time to buy, particularly as we approach the colder, darker months.

For more information on your specific market, or how you can get started, please do not hesitate to reach out. 

Andrew_Kim@Windermere.com

2063028331


Posted on August 27, 2015 at 4:54 pm
Andrew Kim | Posted in Uncategorized | Tagged , , , , , ,

Seattle Metro February Update

The Seattle Metro real estate market continues to be one of the hottest in the nation. Many buyers trying to capitalize on sub 4% interest rates battle over near record low inventory. For full market report, continue reading here! 


Posted on March 17, 2015 at 5:40 pm
Andrew Kim | Posted in Uncategorized |

Local Economist Has Positive Outlook For 2015

Just recently, a number of Windermere brokers were fortunate enough to hear local economist, Matthew Gardner speak at the Premier Properties breakfast. Matthew spoke to the competitive market many buyers are facing as near record low inventory still plagues the local real estate market. If you are interested in learning more about where Matthew feels our real estate market is heading, click here.


Posted on March 4, 2015 at 9:48 pm
Andrew Kim | Posted in Uncategorized |

Potential Housing Trends In 2015

Every year we read articles forecasting what the upcoming year will bring. A lot of the predictions come from looking at the past years trends and analyzing that data for the upcoming months. Over the past 18 months, many analysts have predicted an increase in interest rates and large pocket of new real estate inventory to hit the Washington market. As real estate professionals, we have waited and we have waited. Interest rates have not risen to above the 5% mark, in fact, they actually took a dip in the early parts of December 2014. Inventory, especially in King County has remained extremely tight causing bidding wars and a steady increase in median homes prices. CNBC has provided us with a great look into the potential trends we need to be on the lookout for in 2015. Enjoy!

http://www.cnbc.com/id/102298950


Posted on December 30, 2014 at 3:54 pm
Andrew Kim | Posted in Real Estate, Seattle, Buyers, Sellers | Tagged ,

Fall is Here!

This weekend I was able to get out of town and visit a friend in Desert Aire, Wa. I have not seen my friend for a few months as he lives in Alaska. We met up at his vacation home in Eastern Wa. with a few of our other friends! His "vacation" house in incredible on many level from the pool to the golf course view, but one feature I especially fell in love with; The Fire Pit. As we sat outside with the cool Autumn  air upon us, the fire pit kept us warm, not only phycisally, but something warm on the inside as well! It made me think about fall and other fire pits designs! Check them out here!

http://www.apartmenttherapy.com/outdoor-entertaining-5-fire-pits-for-fall-210632


Posted on September 29, 2014 at 7:41 pm
Andrew Kim | Posted in Uncategorized | Tagged , , , , ,

Fall is Here!

This weekend I was able to get out of town and visit a friend in Desert Aire, Wa. I have not seen my friend for a few months as he lives in Alaska. We met up at his vacation home in Eastern Wa. with a few of our other friends! His "vacation" house in incredible on many level from the pool to the golf course view, but one feature I especially fell in love with; The Fire Pit. As we sat outside with the cool Autumn  air upon us, the fire pit kept us warm, not only phycisally, but something warm on the inside as well! It made me think about fall and other fire pits designs! Check them out here!

http://www.apartmenttherapy.com/outdoor-entertaining-5-fire-pits-for-fall-210632


Posted on September 29, 2014 at 7:41 pm
Andrew Kim | Posted in Uncategorized | Tagged , , , , ,

Millennials staying put? Good insight on large group of future homebuyers!

With Millennials making up about 1/4 of the US population, it is interesting that a larger number of this population is not moving out on their own. How will this affect the real estate market in your area?

http://money.cnn.com/2014/09/17/real_estate/millennials-still-home/index.html?section=money_realestate


Posted on September 24, 2014 at 10:30 pm
Andrew Kim | Posted in Uncategorized | Tagged , , , , , , , , ,

Decrease in Sales: Assumptions & Realities

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Many rumors are circling around and pinpointing the lack of sales on on two factors: interest rates rising and a lack of consumer confidence. The folks over at KCM Blog feel that the real reason is actually the lack of inventory of houses on the market.

You can learn more about the assumptions and realities about the decrease in sales that is being experienced and why we are having a lack of inventory at the original post >>>

 


Posted on February 22, 2014 at 1:31 am
wpadmin | Posted in Uncategorized |

Winter Newsletter 2014

Lots of great information for buyers looking to purchase in 2014! Sellers currently hold the upper hand as competition is fierce! Read more with Cubby Holes to Castles!


Posted on February 21, 2014 at 9:58 pm
Andrew Kim | Posted in Andrew Kim Homes, Houses, housing news, Real Estate, Seattle News, Seattle Real Estate |

A Guide to Home Organization and Decluttering

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Its that time again to clean, declutter and organize your life!  I found a great article on Houzz.com that is a compilation of the some of the greatest tips for tackling each room in the house to help you start off the new year.  Here is a little snippet of what you will find articles about:

Kitchen – Drawer and pantry organization, deep cleaning and spice storage ideas

Bathroom – Organization and storage ideas

Home Office – paper and electronics organization and shelving/cabinetry ideas

Living Room – Bookcase decor, media organization and hiding cables/cords

Closet – Storage ideas for clothing and accessories and ways to improve your closet

and more!!!

<<< Click here to read the full article >>>


Posted on February 21, 2014 at 12:50 am
wpadmin | Posted in Uncategorized |