A news blog for Seattle's Phinney Ridge and Greenwood neighborhoods

 

Rain, Rain Ain’t Keeping Home Buyers Away

March 18th, 2013 · Comments

(This is a sponsored story written by John Madrid, Managing Broker with John L. Scott Real Estate).

It continues to be a seller’s market in Northwest Seattle, including Ballard, Fremont, Greenwood, Phinney and Wallingford neighborhoods, where there is a little over one-month supply of single-family home inventory. If you are a fortunate home seller, expect to see a lot of open house traffic, buyer “love letters” and possibly multiple offers if your home is located in a popular neighborhood and is competitively priced.

March2013-months-of-inventory-resized

And what to do if you are a home buyer? First, get your financial ducks in a row by getting pre-approved by a local lender who is available in the evenings and on weekends.

Second, try to get out to see homes before the weekend, which will give you more time to line-up pre-inspections if offers aren’t being reviewed for a few days.

Third, reduce the number of contingencies within your comfort level.

Finally, write that love letter even if it’s just a short paragraph in addition to a summary of your offer’s terms. Don’t go overboard, but in this market it just may help you stand out from the pack.

March2013-sold-prices-resized

More info on other Seattle neighborhoods can be found at http://www.live206.com/seattle-area-market-update-c21537.html

John Madrid is a Managing Broker with John L. Scott Real Estate – University Village and is a 2005-2012 Seattle Magazine “Five Star” Agent. His clients include both home buyers and sellers. He can be reached at 206-498-1880, john@live206.com or www.live206.com.

Statistics are deemed reliable but are not guaranteed. All information should be verified to the user’s own satisfaction.

Tags: , Uncategorized