Winning Strategies for Multiple Offer Situations




Let's discuss multiple offers. If you're a seller with multiple offers on your home, you're in a great place. However, buyers should expect to compete with ten other people for a home.

 Multiple offers have slowed down substantially in the Puget Sound area. Previously, if you were a buyer, you had a 95% chance of ending up in a multiple offer situation. Now, those odds have dropped to a 35% to 40% chance of being in a bidding war, depending on your area.

 So, if you're a buyer, how do you win in a multiple offer situation? Pay attention to the sales price. Think like a seller. In today's market, sellers get their asking price or higher. In a multiple offer situation, homes can sell anywhere between 3% and 15% above the asking price.


 Additionally, don't look for homes at your maximum sales price. For instance, if you qualify to buy a $600,000 home, look at homes for $550,000. That way you have a buffer if you do need to win a bidding war based on sales price. Know and understand your budget.

 You can avoid being caught in multiple offers if you bid on a house that has been on the market for two weekends or more. That's when the hot period has passed, and you could get the home for the asking price or below.

 There are more strategies for you to win in a multiple offer situation. We will cover those in upcoming videos. Stay tuned! If you have any questions, give us a call or send us an email. We would be happy to help you.
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Location: Seattle, WA, USA

Market Update from Seattle




Hi, everyone! Today, we’ll discuss market conditions in the Seattle area.

 In September, the average asking price was $633,000 in Seattle; $230,000 in Tacoma; $342,000 in Everett; and $953,000 in Bellevue. Likewise, the average sold price was $646,000 in Seattle; $228,000 in Tacoma; $335,000 in Everett; and $953,000 in Bellevue. It is still a seller’s market, but it’s slowing down!


 The number one reason why people don’t move to Western Washington is the home price. However, there is an exception: high-tech industry home buyers find Seattle very affordable.

 The average time it took to sell in Seattle took 23 days; in Tacoma took 46 days; in Everett took 32 days; and in Bellevue took 25 days. On average, people live in their homes five to seven years before moving.

 If you have any questions about what these numbers mean for you, please don't hesitate to reach out to us. We're always here to be your real estate resource!
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Location: Seattle, WA, USA

Are You Ready to Buy a Home?




Buying a home is a serious step. One common mistake buyers and sellers make is not being emotionally prepared to make an offer on a home.
Some buyers can spend a couple of years getting their finances in order. Then they get their loan approved and look at homes with a real estate agent. Finally, they find the house of their dreams, and what happens? They want to sleep on it, or pray on it, or get a family member's opinion before they make on offer.

The reality is that in this market, if you snooze, you lose. Correctly priced properties are just flying off the market. You have to be emotionally prepared to make that decision and make an offer. Look at homes on Tuesdays, Wednesdays and Thursdays if you are ready to make an offer. Weekends are the worst time to make an offer because a lot of other buyers are out there and you are almost guaranteed to wind up in a multiple offer situation.

 If you have any questions, please do not hesitate to reach out to me. I would be happy to help you.
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Location: Seattle, WA, USA
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