So if you’re a buyer, what do you need to know? You need to know that inventory is still low, which will and is currently allowing prices to inch back up in positive appreciation. You need to know that we just may have seen the bottom, because by the time we know we’re at the bottom of the Seattle Real Estate market, we’ve already turned the corner and are heading up. You need to know that the joblessness rate is slated to improve by 2+% for 2012 in Seattle…that’s a huge thing, bringing back consumer confidence. Seattle has a strong aerospace, tech, bio-tech, & insurance employment base, not to mention coffee and the headquarters for several large clothing companies. You can expect competition on real estate again. I’m already seeing it on the Seattle Eastside.
So what do you need to know to be a seller? Less inventory increases your odds of selling, but you still have to have a commodity that people want and are willing to pay for. What does that mean? It means you don’t want to assume you can overprice and expect to sell. Sellers still have to be realistic. I’m seeing buyers are willing to pay for quality, whether it’s re-sale or new construction.
So do you have what it takes to be a buyer or seller or even both in the Seattle Real Estate market? Sure you do, because in every market, buyers want to buy and sellers want to sell. Have you got any advice you want to share??