Market is officially SLOW. Only question is, is it the normal cyclical pattern of a slow August, a strong September and then a weaning off period until 2007 OR are we headed the way of most of the Country into a Buyer's Market?
Seems there are plenty of buyers, but they are more cautious. Lower interest rates in the last week to 10 days has helped. Let's track the sale of the fabulous condos coming on market in Kirkland. If they don't sell...and quickly, it will be a surprise.
Going to the Agent Open on September 7th and will poll what agents are saying to each other that they won't put in print...market slow or not?
Clearly sellers need to be very careful not to be too arrogant in their marketing strategy thinking they don't have to do anything and they will get multiple offers no matter where they price it. Caution warranted.
All around the Country agents are declaring that it is a Buyer's Market. Meanwhile over in Seattle, I have an offer sitting around for almost a week, because the seller isn't looking at his offers yet. Will he have a collection of offers to view tomorrow as he expected?
Will be interesting to see if the property bids up. It has several negatives. Meanwhile another property that bid out almost two months ago is now back on market with a price reduction.
I feel a change in the wind. Are sellers being too arrogant for the current market conditions, or not? We shall see.
These two houses (one is torn down on the left) have been playing "tag you're IT" for quite some time. First the one on the right would go up for sale, then it would come off market and the one on the left would go up for sale. You'd think a builder would want both of them. Likely someone bought it to build a house for themselves. Now the guy on the right has a for rent sign instead of a for sale sign. Guess he wanted more than people were willing to pay for his lot, so he's going to keep renting it while the house on the left goes up. Seems it will be pretty noisy for the new tenant. Might be better if someone built both houses at the same time.
Look at this house and the one next to it. I love living in a town where you have a little of everything. I received a call recently from someone who wanted to live within 15 minutes of Microsoft, but wanted all of the houses in the neighborhood to be newer and over a million dollars. Anyone know of a place like that? I like having ALL kinds of neighbors. I'd be bored if everyone had "the same values" as me.
Here in Kirkland I have heard some people say, "My dream is to have enough money to live WEST of Market. Well here we go, Houses on this street cost Two Million plus and can you even SEE that lake? A whole line of trees blocking the view! I'll keep my East of Market thank you, that cost a heck of a lot less, but it sits way up high where I can see the whole lake and downtown Seattle. The builders are building so many houses around here...and they are sitting on market. Will be interesting to see at what prices they eventually sell. Just because it is "West of Market", doesn't mean it's worth over Two Million Dollars.
Did you ever go to a party and hear someone bragging that they must have a great property, because people are always knocking on the door asking if they want to move? Go to their house one day and you might just see weeds like this front "lawn". Maybe they think you want to move because it doesn't look like you want to stay :-)
Here's the future sit eof someone's new home with a view. OK, now turn around and look at the houses on the other side of the street that are for sale all of a sudden. Now go get a form 17 and tell me if it says "We're getting the hell out of here before whatever gets built over there blocks, the view from over here". Any takers on that bet?
Now you be the buyer who buys across the street and whines, "No one told me!" If you see a big hole across the street that looks like this one, it's a big clue that the two guys across the street who are selling are NOT moving because "their house is getting 'too big' and they want to downsize".
You woulda thunk that when they moved from around the corner because the location was too "understated" and no one knew they were a real estate office, they mighta learned not to use GOLD for their name on the sign and...let's put flowers in front of the door so no one can come in and put the sign over a door that doesn't open... I think you've got it now guys. Good move!
ARDELL
DellaLoggia
On Seattle Real Estate including Kirkland, Bellevue, Redmond, Green Lake and most areas around Lake Washington North of Downtown Seattle.
Phone: 206-910-1000 - Mailto:Ardell@RainCityGuide.com
You can find many great Seattle real estate agents and loan officers on ActiveRain.com ARDELL DellaLoggia is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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