Is Today a Good Day?

How’s your new job? Have you sold anything yet? What’s the market like? Those are the three questions that are most asked of me. I meet those questions several times a day, and last night at our schools Art and International night, I think I spoke more about my new career and the real estate market than Finland. Please, please, please, don’t get me wrong, I LOVE answering your questions, I’m excited about my new job, and talking about it is fun. So, please keep asking.

So, how is my new job? The answer to that question is tricky, as I think the expectation might be quite different from the reality, as for most of us a happy job is related to a steady income, and so far, I have not earned any, but instead been splurging on A-boards, membership fees, desk fees and so on. However, I love my new job, I mean really. To me, it seems as I get to do what I love to do, but for work, and in the end my investments will bring a return.

I love writing, so I get to write, but instead of seeing it as a hobby, I know get to call it exposure or sometimes even prospecting. Same goes for Instagramming or Facebooking. Who would not want to do those for work? Let me tell you, I love doing all the above. So, I love my new job. I enjoy meeting people and being part of the community, and I have to tell you, I even enjoyed my trip to the Space Needle on the school bus and – yes, I rode the bus with 53 third graders, and it was loud -  chatting with my daughter’s classmates’ parents. No, that wasn’t work and I was having fun, but in one way, I was still at work. Maybe that’s what I love most, getting to work even when not really working, and when working my work not feeling like work.

No, I have not sold anything yet. Some look a bit disappointed with my answer, or maybe it’s hidden concern. I have not sold anything, but I would be absolutely flabbergasted if I would have as I am only six weeks into my new career, and I believe the transaction average in your first year, is somewhere between one and three. So, I have time, and I am working hard, even if it doesn’t feel or look like working. On an average day, I get up at 5:30 AM to check my emails, send some to those I want to touch base with, even if it’s in regard to going for a cup of coffee, or a walk with the dogs. By the time, I have to drag the kids out of the bed, I have checked the market to be able to answer your questions, read the latest real estate news and trends and checked what’s going on in the world today, as politics have an effect on interest rates, employment and thus real estate.

After I have sent them off to school I drive to the office to learn. To learn how to be a great broker. Not just good, but great. The kind that you may one day write a review on stating that I was knowledgeable, agile, professional and absolutely the best broker you have ever met. I know that’s a big goal, but in order to get anywhere one would have to aim high, right? I want to get one of those certificates stating that: “I make the difference”.

The market. The market changes daily, so my answer to your question would depend on the market that very day, and that is why I check the market daily. What’s for sale? What’s pending? What did the sold ones sell for? How many days did it take? Is today a good day to sell your home, to list it? The market is an interesting thing. If you follow the real estate segment in the news at all, you know our area is following in the footsteps of San Francisco, but at a way faster pace – kind of like on steroids.

A little bit over 70,000 people moved to King County last year and more is coming. They all need to live somewhere whether renting or buying, so if you want to blame someone, blame the tech industry and Boeing and… there are many to blame for the snow ball effect or you could just choose to enjoy the ride. The market? On the Eastside, we have about 750 active listings and over 1200 pending sales. The inventory is 20.3% down from last year, and our current supply of available homes will last for about two weeks with the average days on market being somewhere around 5. The most peculiar thing is the absorption rate that just hit 160.6%. You might ask, how is that even possible? How can the market absorb over 100%? Well. There are basically two reasons, first not all sales happen within the system, the MLS – Multiple Listing Service – meaning a landlord sells a home to the tenant, or maybe the kids buy their parents out of their home. That all happen behind the scenes. But that wouldn’t explain everything. The other reason is that everything moves so fast right now, that the reporting system just can’t keep up with listings going from active to pending to sold, and that is what is most likely the main explanation to our funky absorption rate.

So, is today a good day to sell your home? Absolutely. Based on what I know today, today is an excellent day to sell your home.