It's no secret that Seattle is one of the hottest housing markets in the entire country. Whether you live here or have only visited, it's easy to see why the waterside homes and hilltop views would attract prospective buyers.
The number of available homes in King County in October this year was almost 25% lower than in October 2018, according to Compass Real Estate. The number of closed sales increased by more than 5% compared to last year too.
It's hard to find the perfect deal in a competitive market, but there are some tricks you can use to find an edge.
Choose an agent who is familiar with the market
When you're considering a move into or out of a competitive market, a real estate agent who knows the area can help tremendously. Robin Sheridan with Compass Real Estate is one of those. She's currently working on a listing for a newly remodeled home in Seattle's Fauntleroy neighborhood, and she has an impressive amount of local experience. Having lived in Seattle for almost 30 years, Robin knows all about the trends and preferences of local buyers and sellers.
Find the best spot
Living in the heart of downtown Seattle might seem like the best option, but the price tag matches the convenience. Consider expanding your search. Looking just 15 minutes outside of the city center could take you to a neighborhood that suits you and your bank account better.
Patience is a virtue
Homes enter and leave the market very quickly in popular cities, so it's likely that your first choice isn't guaranteed. Don't get discouraged if your offers are declined. The timing might not be right, and you shouldn't force yourself into a home that doesn't meet all of your expectations. The same goes for the other side of the equation. A knowledgeable agent will help you list your home for the right price, but don't feel like you have to accept the first offer you receive.
Robin is the type of agent who is regarded for her work ethic and her attention to detail. She knows how to take the stress out of the buying and selling process so her clients can feel comfortable about their decisions.
Renting versus buying
Believe it or not, continuously renting apartments in Seattle will become more expensive than buying a home here. You can pinpoint when the rent price will overtake the cost of owning a home in the long run by using a calculator offered by Zillow.
Don't reach beyond your means
Advertisements might coerce you into thinking the market is ready for you to make a decision on a home, but that's a backward way of thinking. Instead of looking at whether it's a buyer's or seller's market, figure out your needs and your budget first. There's no sense in hurting yourself financially based on what somebody else tells you.
With over 75 recent listings in Western Washington, Robin knows a lot about what it takes to buy and sell homes. Her legal experience sets her apart, but she's not all about the money. She blends her strong negotiation skills with her ability to calm her clients during one of the most important times in their lives.
To start searching for homes, visit Compass Real Estate online.
Check out the full Seattle Refined segment about the home listing in Seattle's Fauntleroy neighborhood here.