Fickle Market Likes Sub 400k

 This real estate market is gobbling up everything it sees under $400,000. Homes that seem to have high-ish prices are snapped up in a matter of days. I wrote "-ish" because this market still tends to ignore truly overpriced homes, but under $400,000 seems to be like under $300,000 was just two years ago.

These low interest rates are bringing new buyers to the market and that is no doubt applying maximum pressure at the entry point to home ownership.Sellers seem to be sitting tight as inventory in this high demand sector of the market remains tight. Any seller sitting on a sub $400k property ought to consider listing and making a move up as the middle of the market is not as hot as the bottom. We continue to see bottom pressure creating an opportunity to sell high and buy low-ish. Again with the "ish" that low is relatively speaking, this market will ignore an overpriced listing but it will swallow whole a "value" priced listing.

If you are sitting on a 3 bed 2 bath home in that coveted $300-$400k price range call me or call your go-to Realtor® today, you may be shocked to see what the market might pay for you little house :)

360-737-4600  rod@rodsager.com

Buyers Need to be READY!

Buyers are facing the dilemma of missing out on houses. The Realtor® sends them a prospective listing, they look it over and call back in the morning only to find out it already went pending! When they finally get inside a home and make an offer they often get outbid. It can be frustrating. This market is so hot right now our local MLS now offers hourly email updates for us Realtors® to send out automatically informing our clients the moment a new listing meeting their criteria hits the system!

Buyers have to suck it up if they want a shot at their dream house because this market is most unforgiving to the lackadaisical buyer. According to the local MLS roughly 650 residential properties closed in May (some may not have been updated yet) and of those 314 were on the market less than 10 days.

Waiting for the weekend, may not always be the best option. Buyers should also be ready for sellers that are not very responsive. I have wrote about this foolish phenomenon but it is happening. Some sellers have gotten cocky. They only hurt themselves, but none the less buyers need to persevere to get the home they want. Heck, perseverance is needed to get any home right now.

Worry not buyers, inventory will start to come back and things will settle down, buy in the mean time be ready to pounce and ask your Realtor® about hourly updates :)