Attention home buyers! Especially those of you who are discouraged, exhausted and just plain frustrated.
Now is the time to regroup and call on your second wind, because there is less competition this time of year, so you may even be able to avoid the bidding wars.
Why? Because many of the buyers who were active in the spring have either run out of steam or have become discouraged beyond their limits. Combine that with nice weather (who can think of anything but play when the sun shines in Seattle?) and vacations, and the pool of buyers shrinks substantially. That’s good news for those with the stamina to hang in there.
Although still undeniably hot, and generally favoring sellers, the real estate market in West Seattle (and some other parts of Seattle) has slowed down a bit in the past few weeks. More homes have come on the market recently, and many are seeing their “offer review” dates come and go with no offers. Some sellers are even having to do price reductions.
Again, this is good news for buyers, especially since interest rates are expected to start rising, and every increase — even one as small as one-eighth of a percent — effectively decreases a buyer’s buying power.
A similar situation happens every December due to bad weather and holidays.
So, if you or someone you know, wants to buy property this year, DON’T WAIT!
Contact me today for more details and a FREE CMA (Comparative Market Analysis) of your home if you are already a home owner.