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Recovery Broadens as More Markets See Price Increases

Home prices were on the rise again last month, but in a stark contrast to last year, price increases were more generalized and less concentrated to just a few metro pockets, according to realtor.com’s May 2014 National Housing Trend Report.

In May, the median list price of homes was $214,900 nationwide, an 8 percent increase year-over-year. All but eight of the 146 markets that realtor.com tracks reported year-over-year price increases in May. “This broad increase in price suggests a more evenly distributed recovery and a healthier national housing market,” reads a realtor.com statement on the findings.

Read the article…

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Millennials will Soon be a Force to be Reckoned with in Housing Markets

Family

The U.S. homeownership rate dropped for the ninth year in a row in 2013, thanks in no small part to the fact that millions of 20- and 30-somethings were still living with their parents, according to the latest “State of the Nation’s Housing” report from Harvard University’s Joint Center for Housing Studies.

The decline in homeownership rates from 2004 to 2013 was most dramatic among 25- to 34-year-olds (down nearly 8 percentage points) and 35- to 44-year-olds (down 9 percentage points). Some 15.3 million adults in their 20s and 3.1 million in their 30s were still living with their parents last year, helping bring the homeownership rate down to 65.1 percent.

Read the article on Inman News…

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4 Trends in Real Estate Right Now

The 48th annual conference for the National Association of Real Estate Editors, held recently in Houston, provided a snapshot of emerging trends in the real estate market.

  1. With obesity an ever-growing problem in the United States, access to fitness facilities and outdoor recreation is taking on increasing importance. According to Will Holder of Trendmaker Homes, buyers now favor communities that have trails winding through them over golf-course developments.
  2. In the multifamily niche, more and more projects are accommodating occupants’ desire for parks, grooming, and sitting services for their pets.
  3. There’s a growing tendency for young people discouraged by tight underwriting standards to stick with renting instead of buying.
  4. Current home owners are increasingly keeping and renting out properties with ultra-low mortgage rates rather than put them up for sale when they are ready to buy another house.

Read more…

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Seven Tips to Successful Marketing

What if you could compete with national advertisers at a fraction of the cost?

What if your brand could be a household name?

Guess what, it is possible – just apply these 7 steps recommended by Real (Ray) Mahadeo…

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King County Home Prices up 6 percent over year

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Summer has eased the drought of available homes for sale in Greater Seattle, and sales are growing at a pace not seen previously this year.

After five months of declining sales activity compared with a year earlier, the number of June sales was up 2 percent annually, and the supply of homes for sale grew by almost 6 percent, according to a report Thursday by the Northwest Multiple Listing Service.

The larger inventory hasn’t lessened competition among buyers in the most sought-after areas, said Mike Gain, president of Berkshire Hathaway HomeServices Northwest Real Estate.

“We don’t have enough supply of homes for sale in desirable neighborhoods to satisfy the demand,” he said. “In those areas, it is just like a feeding frenzy when a house goes on the market,” he said.

The median price of homes sold in King County has been steadily increasing since February, last month reaching $453,500, a 6 percent increase from a year ago.

Read the article in The Seattle Times…

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Have a Safe and Happy 4th of July!

4th of July

Here’s a link to local events in the Seattle and Puget Sound areas!

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Hook a Higher Price for Your Home

BHHS Yard Sign
When you receive an offer from a home buyer, chances are it will be less than you expected. The housing turmoil of the last eight years has taught buyers to go in low, except in the most heated markets.

It’s natural to get angry and indignant, but you won’t get a higher offer that way. You’ve got a fish on the hook, and jerking the rod won’t land it — you’ve got to reel it in. Like a good fisherman, you want to get the fish to the boat alive before you decide whether to throw it back.

Read the article…

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25406 106th Ave SE #E-2, Kent, WA 98030

Completely Updated and Move-In Ready!

2 bedrooms; 1.5 bathrooms; 1,065 square feet

25406 106th Ave SE #E-2, Kent

Enjoy the beautiful kitchen w/ cherry cabinets, granite counters & stainless appliances, as well as modern bathrooms. You will appreciate newer paint, light fixtures, doors, molding, mirrors, tile & carpet through-out. This well-maintained home also includes a newer water heater. Relax in the large private master bedroom or on the private patio. The 2 parking spaces are in front. The clubhouse, pool & tennis courts are perfect for the summer!

$105,555

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The Great Debate: Old vs. New Homes

There’s no right or wrong answer when it comes to the question of old vs. new in real estate.

Ask yourself, do you enjoy a home with character and timeless style? Or, are you a fan of the starting-from-scratch approach, which begins from the ground up—literally—and creates something new, modern, sleek and, energy efficient?

Read Jessica’s post…

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6 Ways to Turn Off Buyers at Open Houses

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Open houses can be a great way to show off a property to many potential buyers all at once, but you want to be careful to leave a good impression. USA Today describes common open-house mistakes that could be a turn-off to would-be buyers. Among some of the common mistakes it notes…