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The end of a four-year downward trend? Home prices move up in April

May 17, 2012

The end of a four-year downward trend? Home prices move up in April

For the first time in more than four years, the median price of homes sold in Western Washington turned upward in April, a new report reveals.

The report from the Northwest Multiple Listing Service released Thursday shows a modest 1.27 percent uptick in median home selling prices overall for the 21 mostly Western Washington counties the real estate listing service covers. Median prices for homes sold in April this year were $240,000 compared with $237,000 in April of 2011.

Home sales prices in Pierce and King counties, however, still continued trending downward, but Thurston County sales prices were up, the listing service report said.

Read More on The News Tribune…

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Crucial for homebuyer to develop a ‘Plan B’

May 14, 2012

Crucial for homebuyer to develop a ‘Plan B’

In today’s real-time real-estate market, it makes sense for buyers to carefully weigh contract options and develop contingency plans with their real-estate agents long before it’s time to go to settlement.

In addition, sellers have to keep a keen eye on the process as this is clearly not a version of the “don’t ask, don’t tell” laissez-faire approach of the past.

Here are some top contract trends and contingency plans for keeping your home sale on track…

Read More on The Seattle Times…

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Timelines may speed short sales

May 1, 2012

Timelines may speed short sales

If you’re one of the estimated 11 million homeowners burdened with an underwater mortgage, a new federal-policy change could be good news: Starting in June, when you want to do a short sale to shed your mortgage-debt load and avoid foreclosure, you may not have to wait for months to hear back from your bank when you submit an offer from a potential purchaser.

Instead, if your loan is owned or securitized by either of the dominant conventional mortgage-market players — Fannie Mae or Freddie Mac — you can expect a response within 30 business days, with a final decision no later than 60 days.

Read Full Story on The Seattle Times…

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10 Ways to Turn Off a Homebuyer

April 18, 2012

10 Ways to Turn Off a Homebuyer

What a difference a couple of years makes.

Back in 2007, homebuyers would beg to purchase your house. They would even bid more than the asking price for the privilege to do so.

Today … well, not so much. Once the real estate bubble burst and foreclosures poisoned the housing pool, buyers suddenly regained the upper hand. But instead of buying, they’re waiting, convinced that housing prices will continue to drop.

What’s a smart seller to do in this environment?

Read More…

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Seattle home prices on the rise again as supply shrinks

April 6, 2012

Seattle home prices on the rise again as supply shrinks

Home prices rose for the second month in a row in March, the Northwest Multiple Listing Service reported Thursday. One reason is an extremely low supply.

“Close to the job centers, 45 percent of new listings are selling within a single month,” J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, said in a listing service news release…

The median sales price for a Seattle house that sold in March was $397,000, up 3.1 percent from a year earlier, after a 2.8 percent rise in February. March’s median was up 8.8 percent from February’s, although seasonal fluctuations can complicate monthly comparisons.

Read Full Story on Komo News…

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