Will Sears - Puget Sound Real Estate Broker

11/28/2017

HUGE news for anyone who's seeking information on how to strategize for a home purchase in the next year or so.

Conforming limits increasing from $424,100 to $453,100.

Jumbo now begins at $667,000, a jump from $592,250.

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from...

11/27/2017

This is on a national scale, our area is seeing incredibly tight inventory (demand is vastly outpacing supply), and skyrocketing prices. It's so easy to think of our area as the norm...it's not.

Sales of new U.S. single-family homes unexpectedly rose in October, scaling their highest level in 10 years amid robust demand across the country, offering a boost to the housing market.

11/10/2017

06/19/2017

Another numbers post, folks, be warned!

We are back up to normal listing activity after my last update that accounted for Memorial Day slowdown.

As a reminder, what's *key* here is the ratio, where above 1.00 is cannibalizing the available, active listing inventory. If you're looking for the "why" behind this market, there's no better chart to look at than this.

I've selected a few municipalities to illustrate where buyers are heading if they can't afford Seattle/Eastside pricing. I also included Shoreline to show a city to the north that isn't seeing the kind of activity South King County is. This is to be expected, given how prices north have continued to be pressured upwards.

I have begun tracking this information across most of the municipalities across the Tri-County areas, because if you're considering your current or future relationship with home ownership, this stuff matters.

04/19/2017

New Listing vs Pended activity in 7-day snapshots for the dates at the top. If the Ratio is above 1.00, we are "cannibalizing" inventory, and we have been there for a few years straight. To the right I've included the ratio growth % between weeks. I picked out a couple of select cities in King County because there were noteworthy increases - or in the case of Redmond, a the opposite.

01/19/2017

On the heels of a recent post, I thought it might be helpful to expand on this a bit. As you probably know, Seattle's housing market is nuts, many are feeling the burn and moving further out. So, what has happened in a couple outlying municipalities?

Shoreline and Maple Valley are both examples of areas that are attracting lots of buyers. They are more affordable, sure, but these are also places that have highly rated school districts, which is a valued feature of a property. There are other positive aspects, but let's dive into this.

Major Trendlines include:
1. Increasing year-over-year prices, of course
2. Decreasing time on market
3. Jumps in the volume of sold properties, to a higher degree, percentage-wise, than Seattle. Still, a reminder that it's not the Sold (demand) figures that are driving this market, but the lack of supply.

2017
I also included the YTD for all areas. This clearly is a substantially smaller sampling, as we're appx 5% of the way through the year.
Observations are:
A. Look at the 2017 YTD for Shoreline vs 2016, whoa
B. Signicantly higher times on market across these 4 market areas. This is primarily due to the holiday season, but also, there are buyers who are turning to homes that have been lingering on the market for opportunities to "get a deal" and be able to negotiate with a seller.

RATIOS:
This is, and has been, one of my favorite small sample market indicators over the last several years. Very simply, it compares the number of new listings to the amount that have gone into contract over a small period. This "cannibalization" of the market has continues to contribute to the shortening of supply pipeline, causing frenzied buyers to go over the top to secure their desired homes.

NOTE on the Ratios: while the trends for the areas on the left side of this picture strictly adhere to 2-4 beds/1-2 baths, and no condominiums, the ratios on the right side have no statistical requirements to be counted.

08/23/2016

TONS of space in this renovated Des Moines home. Granite in the kitchen, new plumbing, electrical, flooring, paint, and newer roof. Lovely western exposure and expansive deck will draw you in and lead to visions of dinner parties and barbecues. 2600 sf on two levels, with great access to freeways if you are commuting.

Zillow has 15 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

06/28/2016

Prices up, inventory down - a tough combination. Low interest rates (even LOWER now due to the British Exit!) and your psychological/financial approach to homeownership within the larger structure of your life goals (to the extent you have considered it) are the only factors that make this a palatable endeavor over the rest of summer.

U.S. home prices climbed to new heights in April, with seven cities — including San Francisco — setting record highs.

05/28/2016

For sale: $449,950. This lovely home sits on a corner lot like a strong, peaceful sentinel, high in the hills above downtown Duvall - come take a look! Boasting 2160 sf, 4 beds / 2.5 baths, this thoughtfully cared for home has all the space you'll need, complete with an intuitive layout. With a "Wal...

04/09/2016

Hm....I feel as though I should probably invest some time into re-engaging some cool and solid information for all the "Likers" out there. The real estate process is complex, nuanced, lengthy, and filled with traps, potholes, pitfalls, and above all, MIS- and BAD information.

I'll re-commit to providing links to good articles, statistics, market thoughts, etc, to all of you, because damn, it's tough to begin your process if you don't have someone you can trust and lean on.

07/23/2015

This lovely condo off of Greenlake hit the market in mid-June. 6 days later, 3 offers were reviewed and 1 was selected. Listed for $289,000 - closed TODAY for $320,000.

LOCATION, convenience & desirability! Units like this rarely come available SO CLOSE to Greenlake. A stones throw from artisan eateries & shops, youll

07/23/2015

Brand new listing in lovely Pinehurst. Unrivaled access to freeways and shopping hubs, though you'd never think it based on how quiet the neighborhood is. Equally well suited for a starter or investment.

Charming starter home in a convenient and valued location. Big lot with huge potential in the back for a private oasis. Lots of space to park your toy