No “Crash” in sight….

Housing Prices are NOT Heading for Another Crash

As home values continue to increase at levels greater than historic norms, some are concerned that we are heading for another crash like the one we experienced ten years ago. We recently explainedthat the lenient lending standards of the previous decade (which created false demand) no longer exist. But what about prices?

Are prices appreciating at the same rate that they were prior to the crash of 2006-2008? Let’s look at the numbers as reported by Freddie Mac:

Housing Prices are NOT Heading for Another Crash | Simplifying The Market

The levels of appreciation we have experienced over the last four years aren’t anywhere near the levels that were reached in the four years prior to last decade’s crash.

We must also realize that, to a degree, the current run-up in prices is the market trying to catch up after a crash that dramatically dropped prices for five years.

Bottom Line

Prices are appreciating at levels greater than historic norms. However, we are not at the levels that led to the housing bubble and bust.

How’s the market? Bellevue & Eastside update

Local Market Update – November 2017

Prices in our area have now been rising faster than anywhere in the country for twelve months. Sellers seem to be getting the message that now is a good time to put their home on the market. There was an increase in new inventory in October, but with homes selling rapidly, there still aren’t enough properties to meet demand. As a result, counties throughout the Puget Sound area saw year-over-year price increases in the double digits.

Eastside

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Continue reading How’s the market? Bellevue & Eastside update

The time to sell is NOW!

75% of Homeowners Think Now is a Good Time to Sell!

75% of Homeowners Think Now is a Good Time to Sell! | MyKCM

The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if now is a good time to buy or sell a home, the perception of home price changes, perceived ability to qualify for a mortgage, and [an] outlook on the U.S. economy.”

The survey revealed that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed.

Continue reading The time to sell is NOW!

Community Service Day 2017

Community Service Day | Jason Cook

Jason and other Windermere Bellevue South brokers/staff will be working at a couple of the safe houses in North Bend with repairs around the houses, general yard work, painting, and building decks.

Want to learn more about Mamma’s Hands? Visit their website here or follow them on Facebook.

How’s the market?

Local Market Update – January 2017

A record low number of houses for sale in December indicates that 2017 will continue to be a very competitive market for buyers. The good news: those who decide to take the plunge and list their home can count on getting a premium price for their property. Brokers reported that about three-fourths of the homes sold in December involved bidding wars.

Eastside

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Bellevue Home Values
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Continue reading How’s the market?