Seattle Market Update
We are seeing an extreme shortage of homes for sale. The supply/demand imbalance is causing prices to ratchet up. Multiple offers are back with a vengeance. Buyers only have about half the inventory of a year ago to choose from. When buyers find a home they like, it is likely that they will find themselves competing against multiple other shoppers.
After our clients make an offer, more often than not, we have to tell them “sorry but the seller took another offer”. Usually, the winner will have waived all contingencies that are designed to protect buyers and will have made an aggressive offer much higher than asking price.
Potential sellers might take note that if they have given any thought to selling, this may well be a particularly good time for them to do so.
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971.
Shopping for a Home during Stay Home, Stay Safe
Showings are allowed by appointment only and available time slots to tour a home fill up quickly. CDC guidelines for social distancing and a few other precautionary measures have to be followed and masks are mandatory for brokers and their clients.
SOLD July 14, 2020 – 28514 71st Dr NW, Stanwood, WA –Congratulations to our clients Aaron and Jillian on the sale!
We’d love to hear from you
Any questions, comments, or feedback? Contact us any time.
Kerstin & Krisanne
Brooks & Heinze Team at Skyline Properties, Inc.
Kerstin Brooks: 206.276.5827 & Krisanne Heinze: 206.920.2541