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2012 March · WAHomeowners.com

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Bidding Wars Erupt as U.S. Supply of Homes for Sale Falls

Bidding Wars Erupt as U.S. Supply of Homes for Sale Falls

Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders.

Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody hillside.

Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers. The number of contracts to buy previously owned homes jumped 14 percent in February from a year earlier, the National Association of Realtors reported yesterday.

Read More…

Vast majority of Americans not moving, plan to remodel

Vast majority of Americans not moving, plan to remodel

Lacking confidence in the housing market, most Americans are not moving this year. And since they’re stuck, most have some sort of home improvement project planned for 2012, according to a new survey.

The American Express Spending and Saving Tracker “Home Decision 2012” survey says that 10 percent of Americans – 23 million people – plan to move. Of these, 44 percent plan to buy a home and 42 percent say they will rent. As for the other 14 percent? Amex doesn’t say, but maybe mom and dad should clean out the basement.

Read More on MSNBC…

Home-automation trend picking up speed

Home-automation trend picking up speed

“Call it the next frontier of personalized technology. The explosion of high-speed Internet and app-centric smartphones have made home technology — from securing your front door to turning off the lights to blasting your music — far more Jetson-like.

And while some technologies have been around for years, analysts who follow this market say adaptation rates are picking up speed.”

Read Full Story on The Seattle Times…

Seattle-area home prices fall in January for sixth month in a row

Seattle-area home prices fall in January for sixth month in a row

Home prices in the Seattle metropolitan area fell in January for the sixth straight month, according to the closely watched Standard & Poor’s Case-Shiller index, hitting yet another post-boom low.

The only silver lining for homeowners: the monthly rate of decline, 0.7 percent, was smaller than December’s 1.3 percent. Eleven of the 19 other cities that Case-Shiller tracks had steeper month-over-month price drops.

Read More on The Seattle Times…

How to prep a house for the market

How to prep a house for the market

Several steps are involved when it comes to selling a home. Some can help move the selling process along, while others can improve the look and property value of a home for sale. A number of websites offer a range of tips on how to sell a home and increase a home’s sales appeal.

Read More on The Seattle Times…