The Puget Sound Business Journal recently posted an article about a 1,100 square foot home in Ballard that sold $158,000 over list price. There is no denying that Seattle’s real estate market is hot largely due to lack of inventory and rising rents. (A’ hem…if you have been considering selling your Seattle area home, now could be the time).
Why Buyer “Love Letters” Are Risky for Seattle Home Buyers
January 12, 2013 by 2 Comments
Editor’s note: This post was originally published in 2013 and recommended “love letters” as a buyer strategy for Seattle home buyers. Guidance on this practice has changed significantly since then, and this post has been rewritten to reflect current thinking on the fair housing risk involved.
A “love letter” is a personal note a buyer sends along with an offer — sharing why they love the home, what they picture their life looking like there, sometimes with family photos attached. In Seattle’s competitive market, it used to be common advice for standing out. It’s not anymore, and there’s a real reason why. [Read more…]
Seattle Bidding Wars: How to Help Your Offer Win
April 24, 2012 by 3 Comments
Editor’s note: This post was originally published in 2012 and has been updated to reflect current practices. The core strategy hasn’t changed much — bidding wars are still a regular feature of Seattle-area home buying.
Bidding wars are still a regular feature of the greater Seattle-Bellevue market — just not the same way they were a few years ago. Inventory has increased meaningfully, giving buyers more options and more room to think. But well-priced, move-in-ready homes in desirable neighborhoods are still routinely drawing multiple offers, sometimes well above list price, while overpriced or less competitive listings can sit for weeks. The bidding wars haven’t disappeared — they’ve become more selective. [Read more…]
Editor’s note: This post was originally published in 2012 and has been updated to reflect current practices. The core strategy hasn’t changed much — bidding wars are still a regular feature of Seattle-area home buying.
Bidding wars are still a regular feature of the greater Seattle-Bellevue market — just not the same way they were a few years ago. Inventory has increased meaningfully, giving buyers more options and more room to think. But well-priced, move-in-ready homes in desirable neighborhoods are still routinely drawing multiple offers, sometimes well above list price, while overpriced or less competitive listings can sit for weeks. The bidding wars haven’t disappeared — they’ve become more selective. [Read more…]
