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February 2018

Found 4 blog entries for February 2018.

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Heading into 2017, the number of homes on the market in the Seattle metropolitan area had dropped 10 percent from the previous year. Now, at that same time in 2018, inventory is even lower, dropping an additional 19 percent from this time last year, according to a report by real estate group Zillow.

In the metropolitan area, which includes Pierce and Snohomish counties, that inventory drop drove bidding wars in 2017; per Zillow, 52.4 percent of home sales ended up above asking. The report speculates that with an even bigger inventory crunch, that’s not expected to stop anytime soon.

Initial listing prices have grown, too—not a huge surprise to anyone who’s been watching home values for the past several years. Specifically, Seattle-area homes saw

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Tax cuts are still making homebuilders feel better, even as mortgage rates rise to the highest level in more than four years.

Builder confidence was unchanged in February from the prior month, remaining at 72 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive sentiment.

The index is up from 65 in February 2017 and hit a cyclical high of 74 last December, just as the Republican tax cut plan was being passed.

"Builders are excited about the pro-business political climate that will strengthen the housing market and support overall economic growth," said NAHB chairman Randy Noel, a custom home builder from LaPlace, LA.

"However, they need to manage supply-side

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"The Seattle area real estate market hasn't skipped a beat with pent-up demand from buyers is stronger than ever," remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory.

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"Sellers that have put their properties on the market early this year have less competition and are seeing multiple offers. Open houses are experiencing heavy traffic with hundreds of potential buyers attending," reported Deely.

Of 23 counties served by Northwest MLS, eight counties, including three in the Puget Sound region (King, Kitsap and Snohomish), reported fewer

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My team and I regularly come in contact with first-time homebuyers looking for some guidance. The prospect of buying your first home can be an anxiety-inducing one, especially if you don’t know where to start. I've spent my career helping thousands of people find the perfect home, so I'm happy to shed some light on the subject for those new to the process.

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Patience is key.

Even after you spend hours searching through listings and going to showings, your journey is far from over. Getting a mortgage, having the home inspected and going through the closing process all take time. General wisdom suggests that the process could last from 30-90 days, but that depends on a lot of extenuating factors.

The neighborhood you choose is important.

We

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