Thursday, October 1, 2020 / by Jason Gasbarra
Buyers, this one's for you.
This month we’ve packed this newsletter full of strategies to make a confident purchase as well as information on the homebuying and investing processes. It might be a hot market, but that doesn’t mean you have to feel the pressure. Let us help you gain confidence to move toward your homebuying goals.
TIPS FOR A HOT MARKET
Seattle’s market is hot. As a buyer you need to be prepared. Every Door Broker Jarrett Coulson details out four ways that buyers can navigate the current market successfully.
1. Meet with your agent.
2. Obtain pre-approval.
3. Understand the pros and cons of waiving contingencies.
4. Look for homes that have been active for more than two weeks.
Watch the video or read the blog for more information on each of these points.
Q: What 5 Steps Should Every Homebuyer Take?
Avoid These 4 Home Buying Mistakes
A GUIDE TO CONTINGENCY CONTRACTS
DIVERSIFICATION V. SPECIALIZATION?
Investors who diversify focus on buying many different types of properties. This is a way to protect against big losses if the market shifts. Investors who specialize focus on buying the same property type over and over, hoping to replicate success. Which approach is best for you? This Forbes.com article offers simple questions to ask yourself and a list of pros and cons that will lead you toward the best investment approach for your goals.
THE COMEBACK ECONOMY
Americans’ wealth is making a comeback. After COVID-19 sent the U.S. into a deep recession, stocks and the housing market have been recovering. In the second quarter, “household net worth increased by $7.6 trillion.” The Seattle Times has the full article.
Ken Lambert | The Seattle Times
august breaks records
The King County market continued to go up in August! The Seattle Times reported, “The median King County home sold for $742,950 last month [August], the second consecutive month of record-setting price growth … Median home prices elsewhere in the Puget Sound region also broke records.” Read the article for an interactive map of the various submarkets.
TRENDS & ANALYSIS
Listen up, buyers! “Instead of increasing year-over-year, home values may decline, which could represent a great opportunity for investors.” For a full overview of the Seattle real estate market, including insight on investing, foreclosures, prices, and forecasts, read the updated FortuneBuilders.com Market Trends & Analysis report.
TOP TEAM-OWNED BROKERAGES BY SALES VOLUME HONOREE
Congratulations to our team for ranking #22 in this year's The Thousand.