Despite the Covid 19 pandemic, year to date median home prices in April were up in King, Pierce and Snohomish counties.
Median Prices Up Despite Covid 19
Category Archives: Des Moines
Covid 19 and Real Estate
We all find ourselves in an extraordinary time with the COVID-19 virus. During the past few weeks things have moved so quickly that it is hard to keep up with the daily reports about the virus and its effect on our way of life. Many are wondering how this pandemic will affect the real estate market.
These are difficult times right now for so many and there will be substantial economic fall out for a lot of people during this health crisis. But we must keep in mind, this is a health crisis – not a housing crisis like we saw back in 2008. Immediately prior to the virus outbreak, the spring housing market was heating up quickly. Housing inventory was limited and buyers found themselves already having to compete when making offers to buy. The pandemic has definitely slowed our market down but it is still moving forward. The Governor has deemed real estate an essential business as many people are still in need of housing. Our industry has implemented new business practices and strict guidelines in order to keep everyone safe.
I believe that real estate is a strong long term investment and I’m confident we will recover from this and our economy and our communities will thrive again.
If you are in need of real estate services right now, please reach out. I can help you.
If you can, I hope you’ll stay home and stay safe.
Beach Bungalows
I saw these on my morning beach walk. They bring a whole new meaning to the “beach bungalow” style home.
Historic Interest Rates
It’s About Your Bottom Line
Interest rates hit an all-time 50 year low this month! These historic low mortgage interest rates represent a unique moment in the market. Buyers benefit from increased buying power and sellers can take advantage of a larger buyer pool for their property. Take a look at the graph showing annual interest rates over the last 47 years!
How do interest rates affect your real estate strategy?
SW King County Housing Update
Can I Help You?
Welcome to Des Moines
Aerial Photography
Professional Photography is one of the best marketing tools for your home. Today’s buyers are most likely to see your home online first and then decide if it warrants an in person look. In addition to professional pictures of your home, aerial photography can be used to tell the story of your neighborhood and all the amenities it has to offer. When it comes time to sell your home, make sure you choose an agent that knows how to market not only your home but your neighborhood!
SNOW DAY!
Normandy Park, Burien, Des Moines and West Seattle are all covered in a beautiful blanket of snow! It doesn’t happen often so it’s exciting when it does! The neighborhoods look so pretty and the kids, dogs – and some of us adults – are loving our snow day!
Keeping The Changing Market in Perspective
Interest Rates are Rising: Yes, those 3.85% interest rates from a year ago are a thing of the past. Experts predict mortgage interest rates will hit and hover around 5% in 2019. When you consider the average interest rate in 1981 was almost 17% – 5% still seems pretty amazing!
Inventory is Up: The number of active listings in King County is up 135% compared to a year ago. While supply is improving, it’s still considered well below the 4-6 month level industry analysts use as a gauge of a “balanced market”. The added inventory has been welcome news for buyers and homes that are priced right are still selling quickly.
Median Price in King County is Up: The median home price in King County was $643,913 in November, according to statistics from the Northwest Multiple Listing Service. That’s up 2.47% since January.
