[Disclaimer: The following is a sponsored post, written by realtors Kris Murphy and Daniela Dombrowski.]
We’re sure you’ve heard about the hot market, low inventory, and multiple offers in the real estate market, but what does that actually mean? Taking into account all sales in Wallingford and Greenlake (south of N 80th St.) in the last 60 days, 47 single family homes (excluding townhomes) have sold for an average price of $690,000. The average sales price was approximately 4% over list price and in many cases,homes sold between 10 – 20% over list price. What does this mean to you? When housing inventory rises, prices will flatten or fall.
It’s the classic case of supply and demand and it always happens eventually in real estate, often very quickly. Inventory could rise due to:
- Interest rates going up, slowing down the buying activity; and/or
- Sellers suddenly realizing it is time to sell and flooding the market with homes; and/or
- Prices continuing to rise to the point where buyers no longer feel it is a good time to buy
So what we know is that if you are thinking of selling in your near future, there could not be a more perfect time. In fact, mortgage rates have climbed to their highest level in a year. But we don’t know what it will look like several months from now (Oh, how we wish we had a crystal ball when our clients ask us this question.) As brokers, we often forget that we are aware of trends long before the general public. It’s frustrating to see a big lag in market activity; people wait until it is a sure thing (or so they think) and then it becomes too late.
Kris Murphy & Daniela Dombrowski are real estate brokers located in the Wallingford Keller Williams branch and have specialized in Wallingford and Green Lake for many years. Please contact them for a complimentary market analysis on your home.
Grammar police here. It’s not “real estate broker’s”, it’s “real estate brokers”. Back to your regular programming.
Isn’t Wallyhood a neighborhood blog? … or is it ANOTHER INFORMERCIAL! PLEASE! Sponsors should remain just that! We can all figure out what’s going on in your business. If someone who reads this blog is considering making so dramatic a change as selling ones HOME let them contact, if they wish, one of the kind sponsors for such information! DON’T use this forum for your PITCH!! (Shame on you Margaret for not maintaining this line)!
Watch the real estate “bubble” grow again….
And as we all know whatever goes up… must come down.
Please don’t be a sucker 2.0 X 2013
I AGREE! bb said it all. The last sentence in the informercial is absolutely INSULTING! I hope the other sponsors will object. I feel this solicitation by Kris and Daniella is 100% inappropriate for this forum. Disgusting. And a great way for me to make a great effort to refer anyone interested in selling their home to go to anyone but them.
This is SO BAD! “So even if it is slightly inconvenient to sell right now, you may want to reconsider and take advantage of this amazing seller’s market.”
I like Wallyhood, but if it morphs into being a vehicle for all the junk I receive on my front porch, I’m DONE with it. The forums are a valuable service to all of us, with the categories that exist. This does not happen on other blogs.
I thought this was pretty clear that this was a sponsored post. I’ve made changes to make that more apparent.
SPONSOR “posts” belong on the sidelines!! NOT in FORUM and NOT in MY Email!
STAMP OUT IN-FORUM-ERCIALS!!!
Who other than real estate experts would put these numbers together? I think it’s interesting to see statistics that let us understand trends we otherwise only guess about. Thanks to the folks who took the time to put it together.
The sole purpose of this post, disclaimed or not, is to create fear and inspire greed. Fear that you might miss the opportunity to cash in, and greed that you might not be able to squeeze every dollar you can out of your property. There is a ton of development going on in South Wallingford…..there is a ton of development going on in South Lake Union, much of which aimed at providing housing for the people who will work in all of the commercial development going on in South Lake Union. On top of that, there is rapid transit coming to the U District which is projected to add tens of thousands of new residents. Plus, you may have noticed the building boom on and around the UW campus by the UW and private developers to create much needed housing for the booming increase in UW student census. You may have also noticed that these housing units are getting closer and closer to I-5, and some believe are poised to soon hop over I-5 and into our neighborhoods.
All of this to say this is probably not a bad time to sell if you have to our have been in your home for a long time. However, given all of the above, do you really think it is worth ANY inconvenience to sell now if you don’t want/have to?
For what it is worth, I believe that the majority of people who read this blog are looking for something that more accurately resembles the truth. Of course, as we have discovered, also in this forum, the “truth” often depends on your perspective ( see the many posts about people who panhandle at QFC—which no doubt ended up in driving some away, who we evidently knew to some degree—to be replaced by new ones, who we have never seen before).
To get back to my point, my opinion is that ads that purposely employ deceptive/non ethical sales tactics like creation of fear and greed probably don’t belong in a wonderful blog like ours whose aim is to create connections between people in our community. I would go so far as to say they should probably not be welcomed even as paid advertisers.
One last pet peeve, I believe that this blog should be a safe forum for people of divergent opinions to be able to express their thoughts/concerns. At the same time, I feel that people with strong opinions should have the strength of character to use their real names and stand behind their opinions.
I don’t see what the problem is, really. Venerable publications such as Forbes, Newsweek and Time have had sponsored articles in their print editions for years by marking it “PAID ADVERTISEMENT” in the page header & footer. They are now doing it online as well.
Here on Wallyhood, it’s called out as Sponsored Post clearly in the title and you can easily skip to the next article if you don’t want to read it.
I find it pretty easy to scroll to the next article, and I realize Wallyhood has to cover its costs so it seems pretty fair to me. But if it’s really that big of a deal to some folks, maybe Wallyhood could add a subscription model which strips the ads out for paid subscribers?
Interesting take on it. It is as if we bought in Wallingford in a get-rich-quick scheme when all we really did was buy here to live here not to cash out and make a bundle. But yeah, we get it, the turnover in real estate generates income for the middlemen.
I dunno Evon, the panic over JSIS becoming an option school makes this post appear damn-near omniscient now! 😀
To lyqtoo. This data is easily available from a realtor we choose. It wasn’t a lot of work, it is their bread and butter. Plus, I have received four brochures just this week providing the same information. But a bit different that the graph in their sponsored post.
If I were listing my home, I’d speak to various sources, realtors, get a market appraisal or two (and pay for it if needed.)
Yes, I know it said “sponsored” but I agree with bb. No in-forum commercials and ads. Sidebars are fine.