At our weekly office meeting this morning agents were reporting an overall uptick in activity, especially in the first-time buyer price range of the low $300Ks.
One agent received five offers on a home in the $310K range in Bothell, while another had a similarly priced home sell in just a couple of days. Perhaps more surprisingly, an agent sold a home near Microsoft in the mid $700K price range in just five days. I’m also hearing about quite a few all-cash offers, which usually means investors are making their presence felt.
The key to selling a home quickly in this market is to prepare it to the nines, keep a pulse on the current market and price to compare favorably to the competition. Buyers expect a great deal in this market, but they also know a great deal when they see one.
Where are prices heading? (Does anyone really know?) I’ve had clients call me because they’re hearing that we’ve hit bottom. I have to tell them that in my opinion it’s more likely we haven’t, because of current economic events that I don’t think we’ve seen the effects of yet. However, with prices down nearly 20% from their peak and interest rates extremely low it’s definitely a friendly market for Seattle area home buyers.
