Luxury Market Brief

Posted: June 10th, 2015 by Brad

Luxury home buyers are also active participants in the current market. A check of MLS statistics shows 887 single family homes priced at $1 million or more have sold during the first five months of the year. That compares to 696 for the same timeframe a year ago for a jump of more than 27 [...]

Seattle: Silicon Valley North?

Posted: June 10th, 2015 by Brad

Skyrocketing home prices in the Bay Area are prompting tech workers to consider relocating – and the Seattle area is high on the destinations list. GeekWire, a technology news site, reported on a recent analysis of home search behavior. A Seattle-based real estate brokerage conducted the study.  John Cook, GeekWire’s editor, called the findings “startling” [...]

Home Values Surge, Buyers Struggle

Posted: April 15th, 2015 by Brad

Low inventory has many Puget Sound home buyers swarming new listings and multiple offer environments are in some cases influencing buyer waivers of all contingencies. Sellers of conservatively priced homes, who may also have difficulty finding another place to live, are fetching top dollar. The multiple offer market has become commonplace on well-priced new listings, observed John Deely, a member [...]

Three Year Real Estate Wave Projected

Posted: April 15th, 2015 by Brad

The real estate industry is expected to further strengthen this year and continue to get stronger through 2017, according to a new report released from the Urban Land Institute Center for Capital Markets and Real Estate, which is based on a survey of the industry’s top economists and analysts. Survey respondents said that the residential, [...]

Interest Rates to Rise in June

Posted: April 15th, 2015 by Brad

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. The move would be the first rate increase since 2006. Two of the central bank’s officials said that disappointing job growth, manufacturing activity, and retail sales over the winter [...]

Early Spring Buyers Abound, Homes in Short Supply

Posted: March 11th, 2015 by Brad

Favorable weather and restored confidence are propelling home buying activity around Western Washington to the highest level in nearly a decade, according to Northwest Multiple Listing Service sources. “The pent-up demand being unleashed has rocketed pending sales back to the levels of our record year in 2006,” former MLS director Ken Anderson said. Buyers have [...]

Seattle’s Construction Boom

Posted: March 11th, 2015 by Brad

In case the cranes were not convincing enough, the Downtown Seattle Association just published a report that underscores Seattle’s growth spurt. Downtown is adding approximately 25 new jobs each day and netting 24 new residents every week according Jon Scholes, DSA president and CEO. To accommodate that growth, 15 million square feet of office space [...]

Where Have All The Sellers Gone?

Posted: February 12th, 2015 by Brad

In many areas of Seattle proper, available home inventory is down nearly 50 percent from a year ago, further perpetuating a market favoring sellers. “The current inventory of homes available for sale has never been lower in my 22 years as a real estate broker,” lamented Northwest Multiple Listing Service (MLS) director George Moorhead. King [...]

Luxury Market Upswing

Posted: February 12th, 2015 by Brad

Further evidence of a housing recovery is reflected in high-end sales. Northwest MLS members reported 2,069 sales of single family homes priced at $1 million or more, up nearly 28 percent from the 2013 total of 1,621 “luxury” sales. Condos priced at $1 million and up accounted for another 152 sales. A total of 878 [...]

Romancing Seattle

Posted: February 12th, 2015 by Brad

In the spirit of Valentine’s Day, here are some of the city’s most notable places for feeling the love … Big Picture Whether this is your first date or you’ve been married for years, there’s nothing better than a romantic evening at the movie theater. Big Picture is a unique movie theater experience in downtown [...]

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