Seattle Home Prices
The Personal Seattle Real Estate News
How will you know if the price is right?
How would you like to be a real estate broker in this market? If you represent buyers, the record low inventory and escalation clauses can make your life miserable. If you represent one of those rare sellers, you are fortunate indeed.
The rise in Seattle home prices doesn’t make pricing any easier. However, pricing is more critical than ever. When there are 10o homes for sale in a community it’s not that obvious that ten are overpriced. When there are only ten homes for sale, the one that is overpriced is easy to spot. Buyers are eager to buy but they are not stupid.
In a sellers’ market, the right listing price is the one that attracts buyers who are willing to pay more than the listing price. How do I know what the right listing price is? With few or no comparable homes for sale and few homes sold in the recent past, pricing is a delicate task. Obvious underpricing to incite bidding wars is a risky strategy. Buyers may take you by your word. [Read more…]