I really like [infographics]. Here’s one that nicely organizes pieces of information relative to investing in Real Estate at 40k feet.
By studying their shipments throughout 2012, Atlas Van Lines can give us an idea on those Household Moving Migration Patterns occurring across the United States and Canada. [click on the image to enlarge]
2012 Migration Patterns by Atlas Van Lines
What matters when buyers are selecting a location for their next real estate purchase? Location, Location, Location! And why does location matter so much? Here are some key reasons:
- Near work – best commute
- Best schools
- Community reputation
The one that matters or should matter to every buyer is Best Schools. Whether you’re a buyer with children or a baby-boomer down-sizer, at some point everyone will want to sell. The reputation and school scores matter and will help facilitate a better price… Neighborhoods within high-scoring school districts can utilize the benefit of the schools to secure a higher asking price…conversely, buyers should expect to pay more for high-performing school districts. SchoolDigger is one tool to analyze the school in the area of your next purchase in Washington State. SchoolDigger is also informative nationwide. It’s helpful for every age group knowing about your school system when you sell as well, especially if you don’t have children in the schools.
So how important are schools in your real estate transaction? Reality…they matter!
Here’s what I’ve found to be a great tool to better serve my clients before they buy or sell. I’ve called it a Real Estate Review…and it’s FREE! This is a complimentary service I perform for my clients and future clients.
Whether you know it or not, you’ll be moving. Surprise! Maybe not in the next 180 days, but you will be contemplating a move in your future. The average American lives in a single home for 7 years…to some that seems long & to others who have lived in a home for 40+ years, they don’t understand the “nomadic” lifestyle.
So I’ve prepared a document similar to a market analysis but in most cases reports more info. It reviews the immediate neighbors home values so the client has a good feel of their neighborhood trend. Also, it includes various statistics and local demographics. I end it with a very pictorial view of what’s happening in the Seattle Eastside Area as well as history on interest rates.
The combination of all the info presented will put a client in touch with the current real estate market in their specific area. My clients are thrilled with this analysis! If nothing else, it will establish a baseline for when we prepare the Real Estate Review again next year, making them more informed when they do enter the real estate market.
Are you interested in your Real Estate Review? Contact me today!
What’s up with the Real Estate market? During the month of December 2012, 54 homes were sold from this Totem Lake/Kirkland Windermere office…Are you sensing a changing market from even a year ago? Here’s the local Seattle Eastside stats you can relate to since November 2011:
- 41% less Active Inventory
- 9% less Active Market Time
- 22% more Pending properties(properties under contract)
- 3% higher Median Sales Price (Closed properties)
- 22% more Closed Transactions
Everything in these stats are part of a bigger picture, and that is that the market has experienced a rebound. The biggest thing that will change in the coming months will be the Active Inventory…Jan – July are traditionally the months where the most inventory is available on the market, changing the landscape slightly from a strong seller’s market (now…Red on the color map), to a more balanced market as we get more into 2013. Buyers will have more to choose from and more negotiation power with sellers. Luckily, interest rates are supposed to stay really LOW, as stated by the Federal Reserve Chairman Ben Bernanke, well into 2015, stimulating buying and bringing buyers more buying power for their dollar.
I still can’t emphasize enough that a home MUST be priced for the market…overpriced properties will sit far longer than the average market time and usually succumb to a far lower sales price than if originally priced according to the market.
Keep watching…I’ll continue to share the market stats. The market is really heating up…if it’s your time to make a move, don’t get caught on the sidelines!
Ramblers…have you thought ramblers? What about the demographics of the population? The baby-boomer generation is one of the largest segments of the overall population…and what would the baby-boomers be thinking about?
- Simplifying Lifestyle
- No Stairs (this is HUGE!)
- Thinking of Retirement
- 2nd Home/Vacation Property
What about the first-time home buyers? What are they looking for?
- Turn-Key/Move-In Ready
- Updated/Current Trends
- Easy Living
- Convenient to Work/Friends/Social Life
Here’s a great example of a rambler that has so much to offer…like all of the above! So, are ramblers the new 2-story?
Continuing with a Seller’s Market for Aug 2012…this is very encouraging news, as the rest of the country has not had this strong of a comeback in the real estate market or this fast. The rate of market value increases has been slow, but steady. We’re seeing anywhere from 2-4% increase in market value over this time last year. Remember, slow and steady wins the race! Here’s some more
Aug 2012 Seattle RE Stats
facts and data:
- Months Supply of Inventory 2.1 -46% change
- Total Active Listings 1859 -33% change
- Pending (YTD) 6837 22% change
- # of Closed Sales (YTD) 4746 19% change
Always available to share/explain this info in detail, so never hesitate to engage me. Here’s to a very active and solid 4th qtr for our Seattle Real Estate Market!
Posted in Real Estate, Real Estate Economics, Real Estate Market for Buyers, Real Estate Prices, Real Estate Sellers, Real Estate Stats, Seattle Area Real Estate Prices, Seattle Real Estate
Tagged Eastside Seattle real estate, Linkedin, Real Estate Market, Seattle Eastside Homes Sold, Seattle Real Estate Statistics