Friday, March 20, 2020 / by Cory Brandt
I know we just posted our monthly market update, however, we will be sending out updates on the market as they change with the Coronavirus and how it's affecting real estate.
I don’t know what the market will be in two months, but I know right now it is hot. Why would you wait? If you want to sell, get it listed ASAP. If there is one thing we know with certainty, things are changing quickly.
Our hearts go out to those affected by the Coronavirus, including families who are burdened financially by school and business closures. The food banks are already seeing a decrease in donations.
To show our support to our community and help those most affected at this time, we will be donating 25% of the commission on any new listings or sales contracts we receive over the next 60 days. Those donations will go to local food banks and to Eastside Baby Corner.
**If you're not on our mailer or e-mail list and would like to be, e-mail us at info@CoryBrandtGroup.com
Monday, March 16, 2020 / by Cory Brandt
The market is a little whacky. The stock market is a roller coaster, but the real estate market in our area is on fire. I can't say I would have predicted that response...
The Coronavirus has slowed the rate of new listings to a trickle. The result is in, King County, we are back to selling 40% more homes than we list. We're burning through the active listings quickly, driving prices up, and increasing competition. Bellevue, Redmond, and Seattle are especially hot. We're seeing another big influx of Asian money. Even though we're also getting hit, our region appears to be a safer bet to them than their home markets. I'm guessing that some of that is being redirected away from commercial investments like strip malls, realizing many of the service-oriented tenants won't make it if people work from home.
Sellers appear to be frozen, glued to the TV, or afraid they are going to list and the prices will suddenly drop out from under them (we haven't seen that). Instead, we'r ...
Wednesday, February 19, 2020 / by Cory Brandt
Inventory for Spring 2020 is almost half the amount it was in Spring 2019.
That has resulted in a crazy hot market for sellers. When marketed correctly listings are selling for far more than they were just a few short months ago. How long will it last? That's the question. Our advice is to strike while the irons hot.
Buying in this market can be tough. We just had a situation where a buyer released 1 million dollars to the seller (on a 1.8 million dollar property), and another where there were 11 offers. Because of the limited number of houses available it is getting uber-competitive. That said we're still winning on many because we know how to find the hidden gems, and we can take advantage of our reputation for being organized, doing professional work, and having prepared clients.
I hope you are all doing well. Thank you for your support. If we can help you or a friend, just give us a call.
Cory a ...
Monday, September 9, 2019 / by Cory Brandt
It's been an interesting couple of months in Real Estate. Six of our last transaction have been multiple offer situations. Most areas are still a sellers market in King county, except for Belltown which is considered to be a balanced market. I expect prices to level off in the winter months and to have another busy Spring market. If you are thinking about Selling, feel free to reach out to discuss when the best time to list is. Interest rates are still low and we have helped our clients win homes in multiple offer situations with our negotiation skills and our reputation in the area. If we can help you or a friend give us a call. Cheers, Cory and Team
Monday, August 5, 2019 / by Cory Brandt
It's been a crazy couple of weeks. We are seeing a reduction in inventory (about 10% less inventory than this time last year). That paired with low-interest rates are bringing back multiple offer situations in some areas. We have helped a lot of buyers win bidding wars this month. Thank you for your time, feel free to call, text, or email if we can be of assistance.