Quite regularly I get a call from someone I know that goes something like this…”I am looking at buying a house in _______ (name your state) and I meet this agent at an open house. We looked a few houses and we wrote an offer. Now they are asking me to do this and I don’t understand”. or … “they are not doing a good job, what do I do?’ or ??? You get the point. Something is not going right in a real estate transaction. Since I am not a party to the transaction and bound by the Realtor Code of Ethics to not interfere in other agents business, I usually can only console them and tell them it will all work out. I can ask a few questions, give a recommendation or two for them to take back to the agent.
But what I really want to ask them is why did they not call me and have me make a referral? Using both Coldwell Bankers internal Agent Referral platform and my numerous contacts, I could have found an agent with a good track record that fit the level of service they were looking for. I always call the agent and ‘interview’ them, see if it’s a good fit because hey, my reputation is on the line. But more importantly, when something comes up, I now have a right (actually an obligation) to pick up the phone and get some answers. I am a party to the transaction, I can ask to see a contract on their behalf. I can make a suggestion.
So, for those still reading, the main take-away here is even when you are buying somewhere else, call me and I can point you in the correct direction and / or make a direct referral. It will cost you nothing and give me the power to help you if needed.
As reported last month, buyers came out in large numbers and began to soak up the increasing inventory from spring. Faced with better choices, lower interest rates and motivated sellers, they snapped up homes in all areas. Pending home sales (an indicator of current market activity) increased, while surprisingly, the usual August bump of new listings, did not appear. New listing activity in August was down (6.3% from July & 18% less than August 2018), perhaps due to sellers getting the message their home value was slipping. This has created yet another shortage of available homes, leading to frustrated buyers who were waiting for further price improvements.
Many buyers are faced with looking outside of King County due to affordability. Both Pierce and Snohomish counties saw double digit increases in both pending sales and solid increases in home prices. Overall, King counties median sale price of $615,000 is up 0.8%, Snohomish County is up 1.8% to $470,000 & Pierce county leads the way in affordability with a median sale price $369,000, up 6.1% year over year.
As a seller, I recommend considering listing now before buyers get tired again and hunker down for the winter. Buyers, hang in there, stay prepared and be ready to act quick when you find the one!!
You know the old saying – What are you going to do after ……………. ?? Go to Disney Land!!
Well, promptly after assisting my out of town seller sell her home in fabulous Phinney Ridge (MLS 1472680 – 7216 4th Ave NW Seattle, WA – Sold for $675,000) that is exactly what we did. Star Wars Galaxy Edge was incredible, Splash mountain was very WET! & hanging with family was great.
So what does this have to due with Real estate?? Not much except that I am back and ready to help you buy or sell your next home or investment property. There are pockets of value, even with reducing inventory. Call or email me to discuss your next move.
I have known these clients for over 20 years, & even though they have other neighbors and friends that are also Agents, they knew they needed the best for this complicated transaction. They received an unsolicited offer from a renter in a nice River front house they owned in Issaquah. The offer was very low, they were not thinking of selling but wanted my opinion. After showing them the true value of the house, and discussing the options, they decided to move forward with possibly selling the home to the tenant. After a few weeks of back and forth, we got the price up by over $200,000. Because my clients were now convinced that selling was a good option, we did not want to waste valuable summer listing time if the renter could not preform. We insisted on mortgage Pre Approval, & them showing Proof of Funds ( a bank statement). We also insisted on no repairs, besides a certified septic system, as the tenant had been there a long time.
A few weeks later, we closed the deal. Unrealized potential & good timing resulted in my clients now having many options in front of them.
After over 60 years living in this house, the sellers decided it was time for a new chapter for this Bellevue rambler. Located near the newly renovated Lake Hills Library, Samena Swim Club and all that Bellevue has to offer, the competition was very strong. After establishing a good working relationship with the agent represented the seller, we made a good offer. Others buyers did the same, causing the price to go over asking. We were faced with pulling out our trump card, my buyers lucky numbers. They worked, $627,280 was the price we settled on and our offer was accepted. Two short weeks later my ‘lucky’ buyer took possession. Even at a price slightly over asking my buyer is thrilled because he knows the value in Bellevue. He has started a renovation, that will unlock unseen potential & return more value than the cost of doing it.
A true story of being prepared, realizing unseen value, and a touch of luck!!