I took the time today to go over Rainier Title’s most recent appreciation report and noticed some interesting figures. For my friends at Stevens Pass who have vacation cabins or live in Skykomish the rate shows 330% – however there was only one sale.
For the rest of us in the metropolitan area the figures include many more sales – Enumclaw has seen an increase and a 31% appreciation rate, Issaquah 28%, Lake Forest Park 95%. In Seattle 98105 has seen 38%, 98133 at 51% – things are looking up for sellers!
Green Lake, Ballard, Queen Anne and Magnolia are all moving quickly right now – with the short supply and high demand multiple offers are still the rage. I held an open house at Green Lake yesterday and spoke with a buyer who is moving with his family back from a government job in Vietnam. He put an offer on a home and was the highest bidder, however another buyer had waived all of their contingencies and won the offer. They are still in underwriting so there may be hope.
As buyers agent it is a good idea to keep in touch with the listing agent in case they will keep you up-to-date. A listing agent did call me at nine o’clock pm and indicated she was asking all buyers to remove their contingencies and give their highest and best – a tough call but we did I was able to deliver that home to my buyer.
It is still a seller’s market – that old supply and demand issue. If you have been on the fence about selling your home please contact me about an analysis – many home prices are back up and equity is building.
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