Thanks for stopping by InhabitSeattle.com. As you browse the site, you will find information that will help you buy or sell a home. There is a portfolio of my listings, a great home search, and comments from clients who have worked with me. Also, there are links to various helpful sites and my contact information. Enjoy!
"Tara was the best agent ever!
She helped us buy and sell our home …"
- Danielle & Aaron Troupe
We are beginning to see signs of spring with the return of the light, the bulbs pushing up and the buds on the trees. The upcoming, spring real estate market is also showing encouraging signs.
Continued low interest rates, increased pending and closed sales, and job growth are positively affecting the real estate market. Buyers are out in force and making offers. Low inventory has created numerous multiple offers in Seattle, Bellevue and some surrounding neighborhoods. Consequently, we are seeing a Seller's market in some areas.
Traditionally, we see more new inventory in the spring. We expect that to be the case over the next several months, which promotes a more balanced market. When this inventory begins to grow, 2012 will be a promising time for Buyers.
Mortgage rates continue to drop, and have remained under 4% for nearly two months. Job growth has been increasing for most of 2011, with unemployment dropping to 8.4%. As more people are getting jobs, consumer confidence has also been increasing. On top of that, homes in King County reached record affordability at the end of last year according to the Washington Center for Real Estate Research, which started tracking the numbers in 1994.
In the tri-county area (King, Snohomish & Pierce), prices will remain low as we work our way through the distressed properties and bank-owned real estate. It is important to remember that real estate is extremely "local" these days (more than ever). While the media may print numbers showing slow sales, high foreclosure numbers and declining prices, it is important to look at your specific neighborhood. Certain neighborhoods are not feeling the same impacts as are the greater tri-county areas.