Home-Seller Seminar - How To Get Top Dollar

REGISTER HERE!

Are you thinking about selling your home in the Puget Sound area? You're invited to myHome-Selling Workshop: How To Get Top Dollar in Uncertain Times on April 28 at 7 p.m PST.It's a virtual, online event to stay safe.

I'm going to answer your biggest questions about selling your home, including:

• Is COVID-19 affecting prices?

• What if I can’t pay my mortgage?

• Can I get an instant offer?

• Can my home be sold safely?

• Are home prices dropping?

• Is now a good time to sell?

• Do I need to repair my home?

• Will my home pass inspection?

• What mistakes should I avoid?

• How do I get rid of my “stuff”?

• How do I attract buyers now?

• How do I get top dollar for my home?

You'll learn how to increase the value of your home in an uncertain market and what repairs to make (or avoid). You'll also get a free neighborhood market report with a complimentary listing price recommendation after you attend, too.

Hurry! It's limited to 25 homeowners. You can attend safely from your computer, phone, or tablet.

If you're thinking about selling your home, you need to attend this.

 

Get your free ticket on Eventbrite here.

Our Latest Pierce County Market Update

Here’s what’s happening in our Pierce County market in October.

Today I’m sharing what’s currently happening in the greater Pierce County real estate market. Feel free to refer to the graphs in the video above if you’d like a visual representation of the data.

September had a median sale price of $507,480, which is the third month in a row we’ve seen a small decrease in prices. That isn’t unusual for the season, and we’ve seen a rise of 14.3% in home values compared to this time last year. That’s excellent appreciation; the normal rate is about 4% to 5% in a single year. So we’ve seen about three years’ worth of appreciation condensed into just this past year. 

Sellers are getting 2.7% over the asking price when they sell and are doing so very quickly at an average of five days on the market, on average! When we look at pending sales, the number of sales that are taking place has grown 7.3% compared to September 2020. The number of homes for sale has improved by 19.5%, and homes sold have climbed 4.4% in the last year. Our market truly needed more inventory, and we’re starting to see it. I would say the jump in sold homes is due to having more options available for buyers. 

"We’ve seen about three years’ worth of appreciation condensed into just this past year."

When we have less than six months’ worth of homes on the market, we’re in a seller’s market, and home values are usually escalating. When we have six to seven months of inventory, we’re in a neutral market (not a buyer’s or seller’s market), and home values follow inflation. Neutral markets rarely last very long. When we have over seven months of houses for sale, we’re in a buyer’s market, and home values frequently decrease. 

Even though inventory has been creeping up a bit, we’re still very much in a seller’s market at 0.7 months of inventory, or just 21 days. We’re still desperate for more homes to hit the market, which is fairly consistent all across the U.S. right now. Diana Olick, CNBC’s Real Estate Correspondent recently said: 

“Fall is usually the start of the slower season for the housing market, but nothing is usual in today’s pandemic-driven housing market. Potential homebuyers are seeing a slight rise in inventory and consequently rushing back into the fray. Mortgage applications to purchase a home jumped 7% last week from the previous week… That is the highest level since April of this year.”

That’s a great sign that buyers are still interested, and as more inventory is becoming available, they’re excited and taking action. 

Please don’t hesitate to reach out to our team via phone or email if you have any questions about our market or real estate in general. We’re here to be of service to you. 

Home-Buyer Workshop

REGISTER HERE

Are you thinking about buying in the Puget Sound area? You're invited to my Home-Buying

Workshop: How To Best Position Yourself as Qualified Buyer, on May 18 at 7 p.m PST.

It's a virtual, online event to stay safe.

I'm going to answer your biggest questions about buying a home, including:

• Is COVID-19 affecting home prices?

• How much house can I afford?

• Can I safely tour homes?

• Are home prices dropping?

• Is now a good time to buy?

• What is an inspection?

• What mistakes should I avoid?

• How do I find movers?

• How do I get the best price for my new home?

Hurry! It's limited to 25 homebuyers. You can attend safely from your computer, phone, or tablet.

If you're thinking about buying a home, you need to attend this.

Get your free ticket on Eventbrite here.

Pierce County Real Estate Market Update

Here are the latest stats from the Pierce County market as of September 2021.

Today I'm sharing the latest information about our Pierce County real estate market. The median sale price is $515,000. Though prices have plateaued in the last three months, that still represents a 16.5% increase in home values since August 2020. To give you some context for how huge that is, real estate historically appreciates by about 5% per year—we got almost three years of appreciation crammed into one! Many people have been concerned about the idea of being in a market bubble. I assure you that very few experts think that we’re in a bubble. The general consensus is that appreciation is slowing down and leveling off (rather than home values simply plummeting like back in 2007 and 2008), bringing us back to a more balanced market. Homes in Pierce County are selling on average for over 2.1% over their asking prices. Keep in mind that asking prices are just starting bids. Homes are also selling very quickly; five days is the median days on market in our county right now. Pending sales are the number of homes that have offers accepted on them but haven’t yet officially closed. The number of pending sales has increased by 5.6% since this same time last year. This shows that even though there isn’t as much inventory in the market, the number of sales has increased.

"With only 18 days of inventory, you can see how much of an extreme seller’s market we’re in."

At 3:20 in the video above, you can see a chart that compares the number of active listings (in red) to the number of sales (in green). The number of homes for sale is up 3% compared to a year ago, and the number of homes sold is up 9.6%. This is a good thing because we definitely need more inventory in the market. Despite the increase in inventory, now is still a great time to sell a home. Demand for homes is still high in comparison to the number of homes available for sale. When a market has less than six months of inventory, that means it’s a seller’s market. It’s in this kind of market that we see home prices continue to rise, as we’ve consistently seen for the past several years. Given that we only have 18 days of inventory, you can see how much of an extreme seller’s market we’re in. The good news for sellers is that you’re very well positioned to be able to sell your home and get top dollar. For buyers, we’ve seen that many are going through what’s called buyer fatigue. Multiple-offer situations are rampant, and many are getting beat out for the homes they want. It’ll be interesting to see how that plays out over the next several months, but we’ll keep an eye on it and keep you posted as to what we’re experiencing. If you have any questions or would like to have a deeper conversation about what’s going on in our market, feel free to reach out to us by phone or email. We look forward to hearing from you soon.

A Glimpse at Pierce County Real Estate

Here’s the latest update on our Pierce County real estate market.

As of July 2021, the median sale price was $512,750 in Pierce County. This is somewhat of a dip; we peaked in June, where the median sale price was at an all-time high. However, don’t think that this means the market is crashing. It’s way too early to determine anything like that (although the media may spin some stories about it). Ultimately, that represents a 16.1% increase in home values since this time last year, which is huge considering that 5% annual appreciation is the historical norm. In terms of the median list price, homes in Pierce County are selling for 102.5% of their list price. In today’s market, the list price is no longer the same thing as the asking price; the list price is simply the starting bid. As we look at the average days on market, we can tell that the market is moving extremely fast. Homes have been selling consistently in just five days. That doesn’t leave a whole lot of time for buyers to act, especially considering that many homes are selling in even less time.

"There would have to be an extreme influx of inventory for things to stabilize."

Pending properties are the properties that buyers have put money down on but which haven’t yet gone to closing. As of July this year, there were 1,618 pending listings in Pierce County, which is a 5% year-over-year increase. We are seeing some very strong sales activity in our local market. At 3:37 in the video above, you’ll see a chart that compares the number of active listings to the number of actual sales over the last five years. The chart shows that the number of homes for sale is down 7.1% compared to just a year ago, whereas the number of homes sold is up 5.6%. This demonstrates how much of a feeding frenzy we’re experiencing in the market today. What impact does our low inventory have on home prices? In a buyer’s market where we have more than seven months of inventory, home prices will depreciate. In a neutral market with between six and seven months of inventory, home prices will only appreciate with inflation. In a seller’s market like ours where we have less than six months of inventory, home prices will appreciate. We currently have only 21 days of inventory, and there would have to be an extreme influx of inventory for things to stabilize. Keep an eye on my blog for future updates on the market so that you can stay abreast of all the real estate trends that may affect your prospects. In the meantime, if you have any questions about the market or buying or selling homes, don’t hesitate to reach out to me. I’d love to be an advocate for you.

Summer 2021 Market Update

Ours continues to be a hot seller’s market as we hit the middle of summer.

The Pierce County real estate market continues to go crazy this summer. The market conditions that we’re seeing here make it the perfect time for those who were potentially thinking about selling their house to take the leap. You can take advantage of this market and get top dollar for your property.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

0:23 — Five-year price history

2:05 — Days on market

2:51 — Active listings

4:00 — Inventory

5:18 — Why it’s a good time to sell

5:42 — Wrapping up

If you have any questions about real estate matters or are looking to buy or sell a home, don’t hesitate to reach out to me. I look forward to the opportunity to help you reach your goals.

May 2021 Pierce County Market Overview

Here are the latest numbers and information about our Pierce County market.

Today I’m sharing a Pierce County real estate market update for May 2021. This market is on

fire, and I continue to say that every month because I’m still blown away by what we’re seeing.

At 0:35 in the video above, you can see a graph that shows our five-year pricing trends. We just

hit an all-time record: The median home price has reached $500,000. We’ve seen a 20% increase in

home values in the last year, while historically, values increase around 5% per year. In last month’s market update, I said we were consistently seeing homes spending an average of six

days on market and that I didn’t see how it could get any lower than that. However, we’ve now dropped

to an average of five days on the market, so homes are moving extremely quickly.

"Our market is in a feeding frenzy; people are buying more homes than ever."

At 1:55 in the video, you can see a chart that illustrates pending sales in the last five years. Pending

sales are those that have gone under contract but haven’t closed yet. The number of pending sales

has risen 41.61% year over year. At 2:30, you can see a graph showing active listings versus the number of sales in the last five years.

We currently have a very low number of homes available for sale; that number has declined 45%

compared to this same time last year. At the same time, the number of homes selling is much higher

than the number of homes for sale. The number of homes sold has climbed 46% over the last year.

That means our market is in a feeding frenzy; people are buying more homes than ever. A seller’s market is when there is fewer than six months’ worth of homes on the market and home

values are trending upward. When we have six to seven months’ worth of homes, we’re in a neutral

market, and home prices will only appreciate with inflation. If we have seven months or more of homes

on the market, it’s a buyer’s market, and home prices will depreciate. Knowing all this, we’re in more of

a seller’s market than we’ve ever been before. We have only half a month's worth of homes for sale right now. If no more homes were to come

onto the market, we’d sell out in just 15 days. The number of homes for sale has just been decreasing

and decreasing. This is the hottest market I’ve ever seen, by a long shot.

If you’re considering selling, don’t hesitate to reach out to me. I’d be glad to be a resource and educate

you about timing, what you need to know, preparation, and more. Feel free to contact me via phone or

email anytime if you have questions about the market or real estate in general. I’d love to speak with

you.

April’s Mind-Blowing Market Update for Pierce County

Here’s how things have changed in Pierce County real estate.

The latest numbers for the Pierce County real estate market are in, and to put it simply, the metrics

are astonishing. 

We’re in the hottest market I’ve ever seen, and I’ve been in real estate for about 17 years.The median sales price in March was $480,000, which was a 14.6% increase from the year

before. It’s unbelievable. Another unbelievable metric is that homes are spending, on average, only

six days on the market before selling. That’s about as low as you can realistically get. If someone

tried to sell quicker than that, they wouldn’t be exposing their listing to enough people.

When selling, a little time is necessary.

"It’s a total feeding frenzy right now, and you can get in on

the action if you’ve been thinking of listing."

The number of pending listings was 1,636 in March, which is a 33% year-over-year increase.

These are homes that haven’t officially sold yet, but the buyer and seller have created a contract;

the home will close if no issues derail the transaction. 

Another crazy metric is our sales numbers. The number of homes for sale is down 64% compared

to a year ago, but the number of homes sold is up 8%. It’s a total feeding frenzy right now, and you

can get in on the action if you’ve been thinking of listing. It’s never been a better time to sell. You’ll

have lots of opportunities to negotiate exactly what you want, and you can easily make more than

your home is worth. 

Inventory is completely wiped out. To put it in perspective, we’re in a normal market when we have

around six months’ worth of inventory. Anything above that is a buyer’s market, and anything below

is a seller’s market. We’re at 0.3 months—in other words, there are only nine days’ worth of

home inventory in our area. It means that if no more homes were to come onto the market, all

homes would be gone within nine days.

Needless to say, it’s a blistering-hot seller’s market and a perfect time to list your home. If you’re

ready to jump into the market or you have any questions related to real estate, feel free to reach out

to me. I look forward to hearing from you soon.

What to Know About Pierce County Real Estate in March 2021

The latest numbers point to an extreme seller’s market in Pierce County.

Today I have a quick market update for you on Pierce County real estate here in March 2021. If you

weren't aware already, things are pretty wild in the market right now.

In the past month, we have set an all-time record for the median sale price in Pierce County

at $468,260. That’s a 14.6% increase from this time last year! We weren’t sure if we would see price

stabilization at the end of 2020, but last month definitely showed us that this is an appreciating market.

In Pierce County, homes are selling in an average of just six days on the market. This is about as low

as this figure can get, because any good agent wants to make sure the property gets exposed to

the market for at least a few days—if not a week—before accepting an offer.

"We have just half a month of available inventory for sale."

As for pending sales, those are up considerably as well (13%). As a reminder, pending sales are

sales that have been agreed to but haven’t closed yet.

At 2:20, you’ll see two overlapping graphs that measure active listings (in red) and the number

of sales (in green) over the last five years. You can see that while we started off with about twice

as many active listings, there has clearly been a shift in supply and demand. As of January 2021, we

had more than twice as many home sales as active listings.

A neutral or balanced market has between six and seven months, and a buyer’s market has more than

seven months. Anything less than six months, like the market we’re in now, is a seller's market. We’re

in a very strong seller’s market right now with just 0.5 months of inventory (15 days). This means all

of the homes in Pierce County would be sold in just over two weeks if no new homes were listed for

sale.

If you have any questions about your specific real estate situation or the market in general,

don't hesitate to reach out via phone or email. I look forward to hearing from you.

Get Caught Up on Our Pierce County Market

The latest numbers point to an extreme seller’s market in Pierce County.

Now that we’re into February 2021, it’s time to look back on the numbers from January and see what they say about our Pierce County market. If you’re a seller, you’ll be quite pleased. The median sale price in Pierce County held steady at $440K compared to the month before and was WAY higher compared to the year before. The situation is tougher for buyers, but the good news there is that interest rates are still historically low. To find out more, watch my latest video.

Feel free to watch the video above in its entirety to get the full scoop on our market, or use these timestamps to skip ahead to various sections at your leisure: 

0:22—The year-over-year median sale price increase

1:33—The median days on market 

1:54—The year-over-year pending listings increase 

2:21—Active listings versus number of sales 

3:33—The impact of monthly housing inventory on home prices 

4:29—The months of inventory has dwindled dramatically

5:27—Why sellers are holding all the cards 

6:31—Wrapping things up

As always, if you have questions about our Pierce County market or any real estate needs I can assist you with, don’t hesitate to reach out to me. I look forward to hearing from you.

Can Conditions Get Any Better for Home Sellers?

Here’s why right now might be the hottest our market is for sellers all year. 

Today we have a jam-packed market update on all the latest goings-on in Pierce County, Washington.

In December, the median sale price rose to $440,000. That’s a 5% increase year over year. This is great news for homeowners everywhere. 

As for our days on market, the average is down to just six days. It’s a very fast-paced market, and buyers don’t have the luxury of time like they had in the past. When the right home comes on the market, buyers need to be ready to make an offer with a pre-approval in hand. That’s how fast homes are selling.

Pending sales are up an incredible 21% year over year. These are homes that have had offers accepted on them, but haven’t officially closed yet. The number of pending sales in December (942) represents the largest number of pending sales over the last five years, even with our huge inventory shortage. That’s pretty phenomenal.

"Don’t wait for spring or summer this year."

At 2:15, you can see how unique of a situation our current inventory shortage is compared to the last five years of supply and demand. If you’re a home seller, it might not be the best idea to wait until spring or summer. As you can see right now, sales are as high as they are in the spring and summer, with much lower supply than normal (54% lower, in fact). 

Our available months of inventory right now is 0.3, which is the equivalent of just nine days! That means it would just take us nine days to sell all the homes in Pierce County if no new properties came on the market. That’s all good news for sellers. I’ve never seen this few homes for sale with this much demand.

Think selling your house in the winter months is a bad idea? Think again! The buyer demand right now is insane. A home we marketed over the holidays had 60 SHOWINGS and 17 OFFERS within just a matter of days and we received offers in EXCESS of $100K over asking price! 🤯

There’s no saying how long these conditions will last. If you have any questions for me about the market or how you can take advantage of it, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.