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October 2019

Found 4 blog entries for October 2019.

 

Northwest Multiple Listing Service brokers reported year-over-year gains in pending sales, closed sales and prices, but its report summarizing September activity also showed an 18% drop in inventory compared to a year ago.

"The transition into the fall housing market creates opportunities for homebuyers," suggested J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. "Although there are fewer listings than what buyers find during peak summer months, there is also less competition" for the available inventory, he added.

 Scott noted "It appears we are headed toward a more intense winter market than last year." He said he expects the number of unsold listings will continue to decrease once the winter "clean-up" of inventory

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While supply problems hamstrung most of the market during the end of summer — what's normally known as the peak real estate season — September was a different beast entirely, more like a "roller coaster" where prices were up in certain areas and down in others.

But as the summer season gives way to fall, that can open up avenues for those trying to break in to the market.

"The transition into the fall housing market creates opportunities for homebuyers," J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, said in the latest Northwest Multiple Listing Service report. "Although there are fewer listings than what buyers find during peak summer months, there is also less competition."

By the end of last month, NWMLS brokers reported

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Sunny Eckerle

Homebuying is time- and energy-consuming, and for the uninitiated, co-ops can be especially confusing. The extra designation of “co-op” is another murky term on an already lengthy list of unfamiliar vocabulary words. (We’re looking at you, PMI, escrow, and rate lock.)

For Seattle homebuyers considering their options, here’s what you need to know about co-ops.

What’s a housing co-op?
The National Cooperative Bank, which supports and advocates for American co-ops, defines housing co-ops as groups of people who own or control the buildings where they live together.

When someone buys a co-op, they’re buying stock—or a membership—in a cooperative corporation that owns the building, land and common areas. Buyers don’t receive a deed to

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When you crunch the numbers, the final weeks of September are the period when home buyers might find they get a little more for their money and there's not as much competition.

Statistics show a house that goes on the market in September or is still on the market often doesn't sell for list price. It's a pattern the economists at Zillow have tracked over the last few years.

“You're most likely to get a seller who is willing to cut the price on their house and on the flip side there's a lot of homes on the market,” Zillow Economist Jeff Tucker explained.

“A lot of people who listed [their homes] in the summer or planned to list in the summer and didn't quite get around to it and they're all getting a little frantic to get rid of that house and

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