The Seattle condo market on both sides of Lake Washington has been taking a beating. Now there appears to be a silver lining on the horizon. What is stabilizing prices is a low inventory. Ultimately, that low inventory will lead to price increases. Some of my colleagues are reporting occasional multiple offer scenarios on desirable properties. Mind you, I'm cheering for both sides here: on one hand I want lower prices for my buyers and make real estate around Seattle ever more affordable, on the other hand, I want my selling clients to get a fair price for their properties. Read the rest of this entry »

Must people putting their careers on hold because they are tied down by their "under-water" homes? That's a common misconception. In fact, a new job or promotion that requires a move to another city is a perfectly good reason to ask your lender to accept a short sale. All other things being equal, the bank would be hard pressed to force you to own a home in a place where you no longer live, especially when you rent in the new city. Read the rest of this entry »

My client just bought this short sale Snoqualmie Ridge home for $370,000. The home first sold in July 2003 for $365,000, reached its top market value at about $590,000 in mid-2006 and now sold for nearly the same price some 11 years later. How does a similar short sale home in Kirkland compare? Read the rest of this entry »

While all home buyers and sellers are affected by economic uncertainty, its most debilitating effects are likely with “move-up buyers “who have the need, wherewithal and desire to buy a bigger home. Powerful motivators notwithstanding, these buyers find themselves lacking not only the confidence to make a decision, but, perhaps more importantly, the basic framework for identifying and evaluating the relevant factors. Now you can eliminate the guess work with the Move-Up Evaluator. Read the rest of this entry »

The Seller Disclosure is usually ready to be downloaded by any broker from the MLS where it is part of the property listing. This gives the buyer's agent the chance for review prior to making an offer. If the buyer goes ahead and makes an offer, page 5 of the Seller Disclosure Statement can be included with the buyer(s) acknowledging on line 263 that they've received the offer. Also, while the broker/agent is not allowed to answer any questions posed on the Statement, both seller and buyer brokers are liable for inaccurate information if they know the information to be inaccurate. Read the rest of this entry »