Zero Relief for Buyers

Being a real estate broker in this market has got to be the easiest job ever! Guess how many times I’ve heard that statement… I can see where it comes from though and looking from that perspective it seems like a valid statement. You get a listing in the $600K to $990K price range, you do your marketing things, and somewhere between two to five days, bang! It’s sold. That was easy.

Let’s hop on the other side though, the side where we manage risk taking and disappointments. Where we encourage endlessly yet keep painting the possible worst-case scenarios on the wall, and come Monday night, we once more make that call; “I’m so sorry. There were over twenty offers, and at this point they have chosen another offer.” Maybe you weren’t ready to play hard enough? Maybe you did want an inspection but no one else did, or maybe you didn’t see quite the same financial potential as someone else. It’s a fine line we’re dancing there, and my own anxiety levels keep riding with those of my clients.

Market Flash, Printable Report

This is the only market I have ever worked in. I haven’t seen anything different, and I have become quite good and preparing my clients for an upward hill battle. I have always worked in a market where every listing is a blessing and getting a listing is like a win on the lottery, as listings don’t grow in trees. As of this morning we had 33 active residential listings in 550 (Redmond-Carnation) area, 6 of them in Redmond, 1 in the most desirable ($600K - $990K) price range. That was 1 – ONE – home. I can only imagine the overflow of viewers and offers coming their way.

Since December, Redmond is up 22.8% month over month and 17.1% looking at the entire year, Meaning, if you bought a home in January 2017, you could have already gained 17.1% of equity. In just one year. Same for the major Eastside cities would be 15.9%, however the average price is also higher at $1,124,040.

Talk about a crazy hot market!

Active Residential listings $600K - $990K on February 5, 2018