The housing market––spring 2023
The housing market has been adjusting since the Fed increased the interest rate for the first time about a year ago. Homebuyers have, begrudgingly, become accustomed to the current rates, which remain historically low. The housing inventory also remains low. The housing market in the spring of 2023 is comprised primarily of serious buyers and […]
The housing market for home buyers
Most experts agree that the robust housing market since 2016 came to a sliding stop in early 2022. However, they use various levels of sugar-coating in their statements. It happened subtly but firmly. By October 2022 end the number of homes sold had dropped by about 30%, compared to one year ago, according to the […]
What’s next for our housing market?
The old Chinese saying ” may you live in interesting times ” applies to our current housing market. We have experienced double-digit price increases in home values in recent years. A mad rush to buy homes during the pandemic, combined with the homes being in short supply and near-zero interest rates for mortgages, inflated house prices by […]
Wondering about the current real estate housing market?
The current real estate housing market has been transitioning to a buyer’s market since about May 2022. At the same time, due to mortgage lending rates climbing high and quickly, it has squeezed out the essential segment of home buyers. In 2021, one could buy a house worth $759,000 with 20% down and a monthly […]
Seattle’s chaotic and robust real estate market
How robust is Seattle’s real estate market? Consider these recent stats. The median sale price of a home in Seattle rose by 26.1% from the previous year. It was $737,800 at the end of May 2021. Almost seventy percent of properties in the Greater Seattle area sold for considerably higher than the asking price. On […]
How to get your house ready to sell for the top dollars that the market will support?
If you pay any attention to the housing market news, you know that we are currently amidst one of the strongest sellers’ markets. It has slowed down a bit in recent weeks. It is difficult to determine if it is the usual summer slowdown or if the market has run out of steam. This article […]
What is my home worth?
Live graphs give you current data What is my home worth? This question is the first step when people start to think about selling their house. Having the most current and up-to-date data about recent activity is crucial to answering this question. This blog post is unique. It includes live graphs that show you the […]
Home Buyers and Home Sellers square off!
Our Real Estate market is vibrant, complex, and nuanced. Savvy buyers and sellers know that our real estate market is vibrant, complex, and nuanced. At BN Real Estate, we follow a nine-point home-buying system to serve our “buyer clients.” You can learn more specifics about this extremely effective approach here. For an in-depth understanding of […]
Buying a home in 2021
Buying a home The current sentiment that the real estate market is crazy is the aptest description. Buying a home in 2021 has become a very different experience. It does not serve homebuyers very well, who feel helpless as the market demands compel them to give up their legal protections. There is no way to predict when […]
Greater Seattle 2020 year-end synopsis
December 2020 stats The demand for homes remains on the rise. There was a substantial 39.3% increase in new homes coming on the market during December 2020, compared to the same month a year ago, for the entire NWMLS system. King County had more than a 60% increase in new listings compared to a year […]