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!
Long considered the greatest of all time, Michael Jordan is getting ready to unload his insane mansion in the Chicago area. What would you do with 56,000 Sq. Ft? I would probably throw a party, and incase anyone was over served, they could stay in one of the nine bedrooms on property! Apparently, as Michael has gotten older, his new home in Florida was calling his name! He was over the colder weather. Now, the home was previously listed for sale at $29 million dollars, with a $8 million dollar reduction this year. With no serious buyer coming forward, Jordan decided to sell it at auction. Take a look at the sprawling estate here. Think you want to make a bid? You need a $250,000 deposit just to come play!
This summer has been one of the most incredible weather wise Washington has seen in years. This holds true for our real estate market as well! Many buyers are still fighting for a lack of inventory, as King County is missing about 40% of the market it held last year! With interest rates steadily creeping high, many buyers are trying to scramble and capitalize while they still can! The latest stats from July were just released, and under $500k, King County's median home price was $440,000. The highest it has been in over 3 years! It appears that the market has slowed down a little as many individuals are taking time off to enjoy vacations, but there still seems to be fierce competition! We all look forward to continuing this trend of a good real estate market and finish off 2013 as strong as we started!
Many sellers have been holding out to get the most bang for their buck. It now appears they waited for the right moment! KCM Blog has insight on what is sparking this great real estate market for sellers! Click here to find out!