Eastside Seattle Real Estate Blog

The Reality of a Record-Breaking Market

Month after month, the Seattle housing market continues to shatter records — and April was no different. Not only are property prices sky-high in the city, but home prices throughout all of the counties that surround Seattle are rising higher than ever before. In King County, the median sales price has reached heights of more than $600,000 for the first time, while the median price of an Eastside home is $900,000 — a jump of more than $150,000 in a 12-month period. 

For home sellers, this is great news. They are already listing their property in what has been dubbed by the Seattle Times as the hottest market in the country. And the best part? There's no end...

How Amazon is Impacting the Seattle Real Estate Market

In many respects, Amazon brought life into Seattle and rejuvenated the city when the online mega-retailer brought its corporate headquarters to the city about 7 years ago. Ushering in jobs and real estate development, Amazon became an anchor in the community and has continued to grow exponentially since coming to Seattle. 

For any city, a major corporation impacting the local economy in such a way is often welcomed news, but Amazon's unencumbered growth has had negative impacts on the city along the way. It's a sensation that has been dubbed by locals as "Amageddon," and it's made its mark on the local real estate market.

Amazon's Expansion

Around the world, Amazon employs about 340,000 individuals — 30,000 of whom are based out of its Seattle headquarters. That's a pretty big chunk of the corporation, and the company...

3 Reasons to Avoid House Flipping in Seattle

In many respects, the Seattle housing market has never been hotter. Inventory levels are at record lows, which has home values skyrocketing in the city and throughout the surrounding suburbs. For real estate investors, these seem to be idyllic conditions. They can list a property that they have purchased for an investment, and likely have it sold within a matter of hours to a buyer who is willing to pay above their asking price.

And the bonus? Most buyers who are getting homes in Seattle are paying with cash.

If you look at the data, it may seem like now is the best time to get into the house flipping business in Seattle. But according to King 5, the market is saturated with real estate investors hoping to cash in...

Attention Buyers: Learn How to Compete in Seattle's Hot Market

Currently, opinions on the Seattle housing market are quite divided. Mention the market to someone who recently sold their property or who is planning to list, and they likely will gush about what a great time it is to get involved in real estate. Mention it to someone who is simply looking for an affordable and comfortable place to call home, and you may be met with a groan.

To call the market is hot is an understatement. There's a significant lack of inventory coupled with a plethora of motivated and interested buyers, and it's made for an incredibly competitive market in the city and the surrounding suburbs. In fact, a recent report dubbed Seattle as one of the most competitive markets in the entire country. 

According to Curbed Seattle, ...

Who's Moving the Market in Seattle?

When mentioning the housing market in Seattle, one is likely to be bombarded with comments about how crazy it is out there for anyone looking to buy or sell a home in the city. It's incredibly competitive, as inventory is low and prices are rising steeply — in some cases, even creating an affordability crisis for those who are interested in moving. Beyond that, the economy is strong in Seattle and high-paying job opportunities are bringing new residents to the Seattle metropolitan area, adding strength to the suburban markets as well.

However, it might come as a surprise that the biggest movers and shakers in the Seattle real estate market are not the new residents who want to make the Emerald City their home. According to the ...

Seattle Home Prices on the Rise: A Tough Situation for Home Buyers

Rising home prices is typically good news for local real estate markets, as it is a sign of a strong market and tends to motivate both sellers as well as buyers. However, in Seattle, rising home prices has actually led to a housing affordability crisis. Many people who want to live in the city limits have found that it's too expensive to own real estate in Seattle, and instead opt to rent apartments, townhomes or single-family homes in the different neighborhoods.

Now, according to The News Tribune, the housing affordability crisis is expanding beyond the borders of Seattle and creeping into the neighboring suburbs as well. Those who already own real estate in the Puget Sound region may benefit from selling their home during this time, but they may be faced...

Seattle Predicted to Have Second Hottest Real Estate Market in 2017

Home prices in Seattle are soaring, so much so that Zillow predicts the city will have the second hottest real estate market nationally in 2017. In fact, within Seattle itself, home values have skyrocketed, increasing in price by 42% since 2011.  Current homeowners and developers looking to build new housing units could stand to see enormous profits.

Neighborhoods by the Numbers

Although most of Seattle is experiencing enormous appreciation rates, each area is a little bit different. Here is a breakdown showing appreciation rates in some of Seattle’s most sought-after suburbs:

  • Zillow predicts that the Seattle metro will appreciate by 5.6% in the coming year, which places the area second nationally. Provo, Utah tops the list. This statistic is an overall measurement, covering a large portion of the city including places...

With Limited Inventory, Buyers Prepare for Competition in Seattle Housing Market

For sellers, the Seattle-area market is rife with possibility!

Throughout 2016, home prices increased significantly — in fact, it made headlines as the most expensive year for Seattle real estate in history. Those who had real estate investments to list on the market were sure to enjoy significant returns, but the fact of the matter is, most people weren't selling their property... often-times because there's no place for them to move to (and they would also be paying top-dollar).

According to an article published in the Seattle Times, housing inventory hit all-time lows in Seattle, which is the primary reason for the price increase. Meanwhile, there was also an influx of buyers who were interested in purchasing real estate in Seattle and throughout King...

Mortgage Mistakes: What NOT To Do Before Applying for a Mortgage

You often read about what to do before applying for a mortgage to buy a home. However, despite all the attention paid to the housing market and restrictive lending standards over the past few years, it is still quite common for home-buyers to be unaware of what "NOT" to do before, or during their application for a mortgage.

In this post, we'll discuss some of the potentially costly mistakes home buyers make when applying for a mortgage to buy a home.

Don't Change Your Job or Career

It's surprising how often we encounter real estate clients who are considering a career change, or who have recently changed jobs. Yes... it is common for someone to relocate to a new area - and understandably,...

Are Tiny Homes a Wise Investment

tiny homes

It seems there are Tiny Homes popping up everywhere. Magazines, websites, and reality TV shows all praise the space-saving miniature houses that typically range between 180 and 400 square feet in size. Is it a practical lifestyle choice? Is it truly possible to live comfortably with another person in such a tiny space? Do people still enjoy living in tiny homes after the first year? How much do they cost? These are questions you need to ask before you consider purchasing a tiny home.


What Does A Tiny Home Cost?

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Counting Days in Real Estate Contract Contingencies

CalendarHow do we count the number of days for contingencies in home purchase & sale contracts? it's not too terribly complicated to answer, but misunderstandings regarding the "Computation of Time" in real estate contracts are unfortunately very common.

While all contract contingencies are important, arguably, the most critical contingency in any real estate purchase and sale contract is the Financing Contingency, which is typically 20-30 days. All parties, especially the home buyer and their real estate agent, need to accurately count the number of days - and to adhere to any related terms of the contract. The inspection contingency is just as important. Wait too long after the inspection to negotiate any repairs, and you may find you just...

Real Estate SEO: 5 Critical Steps to Building a Real Estate Website

No matter what Google and other experts say, the real estate SEO world remains obsessed with backlinks, and too often, how to take shortcuts. The hope of quick organic rankings is oh-so-tempting - and unfortunately, memories are short. I have to wonder how many real estate SEO’s who first suffered the effects of Penguin, have re-focused their efforts towards creating and promoting great content in the past 2 years. Certainly Penguin’s favorite playmate “Panda” is not forgotten… is it?

real estate website foundation

Image Courtesy of ...

Applying for a Mortgage: Top Ten Tips for Home Buyers

Applying for a mortgage these days, while not nearly as difficult in the past few years, still has challenges. While lending standards have loosened up a bit, the housing market has become more difficult for home buyers, with limited inventory and multiple offer situations. As a result, home buyers quickly discover they MUST be fully prepared when they commit to searching for their next home.

What can you do to ensure your offer will be considered, while also receiving the lowest cost mortgage with best terms? Below are Top 10 Tips to consider when applying for a mortgage, to help make your next home buying experience more enjoyable - and hopefully result in a winning offer.

applying for a mortgage

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Home Buyer Mistakes: 5 Tips to Winning Offers in a Seller's Market

Are you in the market to buy a home this spring? Join the crowd! In many areas, the market is red-hot; inventory is low and buyers are plenty. In these times, hopeful home buyers must quickly educate themselves regarding the buying process and current market conditions. How can you increase the odds of winning your dream home in a seller's market, especially when competing with multiple offers? Develop a winning strategy by follwing these tips, and avoiding common home buyer mistakes.

Image Courtesy of Online Training Academy

Be Clear About Your Priorities

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Why Listing Descriptions Matter When Selling Your Home

Is your home already up for sale and suffering from a "lack of love" from buyers and not getting showings? It may be that some simple adjustments to your listing description and "agent only" showing instructions could make a world of difference.

Image by Sarah Reid at Flickr.com

Listing Descriptions Invite More Buyers

You've seen them... listing descriptions (also known as "marketing remarks") which either make no sense, are full of abbreviations or acronyms mostly known to agents that the reader must decode, or worse - they're just plain wrong. It's a very common problem - and "yes," as a seller you should be mindful...

Holiday Home Buying: Shopping For Homes During the Holidays

Buying a home during the holidays - sounds crazy, right?

You have about a million tasks on your to-do list and none of them checked off. You have relatives coming into town, the local bake sale needs more holiday cookies, and the cat just crawled-up the tree ‐ again. In the midst of all this holiday chaos you may think the last thing you really want to do is search for your new home. However, you might be missing out. The holiday season can be a fantastic time to buy real estate!

Sellers Want to Sell - Especially at Holiday Time

Listing inventories drop dramatically during the late fall and winter in the Seattle market - not only due to the holidays, but also due to the weather. Obviously, the dark and rainy days are not conducive to home...

Home Selling: How Often Should Your Real Estate Agent Call?

When selling a home, the number one complaint of homeowners is the lack of communication & follow-up from their real estate agent - after the agent has listed the home for sale. In fact, a quick scan of popular websites reveals the most common grievances such as "My agent never returns my calls," or "My agent went on vacation and didn't tell me." it's a very common problem for sellers, and a source of great frustration.

We call this the "List & Leave Syndrome" - a phrase I personally coined after experiencing a similar circumstance several years ago, which ultimately promted me to fire my agent.

Image by ...

Issaquah Market Update October 2014: Price Reductions on the Rise

Did the headline of this post make you do a double-take? Yes... you read that correctly - price reductions in Issaquah have become more common over the past quarter, and the average Days on Market continues to rise, with 40-60 days market time becoming common. While well-priced homes continue to sell quickly in a week or less, the frenetic pace of the Issaquah real estate market has definitely cooled. But the good news is, that for the time being anyway, it appears prices are remaining somewhat stable, as the reductions have been fairly conservative.

If you've been paying attention to the local real estate market for the past couple of years, you know very well that both Issaquah resale home prices & new construction prices have increased...

Market Alert: Active Home Listings at Snoqualmie Ridge Increase 69% in July

Active resale single-family home listings at Snoqualmie Ridge increased 36% in July over June, and a dramatic 69% increase compared to July 2013. It's worth a special note, that this is a month ahead of the "typical" seasonal pattern, when inventory creeps upwards and buyer traffic begins to wane. While more resale home inventory is good news for buyers, especially those buyers who've grown weary of limited inventory and multiple offer situations, the changing market is of course not welcome news for prospective sellers.

Snoqualmie Ridge Market - August 2014

In Snoqualmie Ridge specifically, the first half of 2014 saw home prices increase rapidly with limited inventory - almost an identical pattern to the spring of 2013. Some new listings were selling...

My Top 20 Most Influential People in Real Estate

Anthony GilbertIn real estate, it's all about the numbers... and I'm not just talking about home prices & ratios, but also agent ratings. I'm sure anyone reading this has lost count of all the awards, accolades and "Top Agent Lists" that we see online or receive in the mail. While all of those accomplishments are admirable, what's often missing from industry awards are all the other countless agents who have had significant impacts on the industry & people's lives... beyond selling homes, that is.

Like everyone else, no matter their career, I often contemplate just "how I got here." What events in life brought me to where I am today; and, who has influenced me the most in this business? It's curious, that I've yet to meet a single agent who actually set out on a career path towards real estate. Rather,...

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