Fall Market Update

Every year about this time I get asked by home owners if it is prudent to put their home on the market this fall or if they should wait until after the first of the year into spring. I definitely think you should consider selling this time of year because these months offer higher exposure rates compared to other months. The housing market typically slows down by late November but before that there is a fall rush that lasts 4 to 8 weeks and there are traditionally fewer homes to pick from. This year more than ever, I’m encouraging owners to consider selling due to advantageous conditions brought on by extremely low interest rates. Mortgage Interest rates have been falling and are near historic lows again. With a strong economy, wage growth, low unemployment and high consumer confidence rates should be higher but the Federal Reserve is signaling more rate reductions. Consistent downward pressure over the late spring and summer months has really helped bring back the refinance market and has helped stabilize housing prices. Seattle home prices are basically flat over the last year but it is more a product of an unsustainable red-hot housing market from the previous couple of years. If you are in the market to buy a home the timing hasn’t been better for several years. Most homes are not receiving multiple offers so buyers can get the house they love and have a normal home inspection process. Buying a home right now feels a lot more conventional where you are not forced to make a quick decision then miss the house because there are six other offers on the table. Buying a home should be a fun experience and now it is! Both buyers and sellers will benefit from gaining insight into our local markets. The Frasch Team can be invaluable in this process. Whether buying or selling it is critical to get a Realtor who knows the market and has a proven track record. The Frasch Team has been serving our local community for over 19 years, and would love to go to work for you today! Call today to schedule a FREE no hassle market analysis and go over our company’s proven marketing strategy. Coldwell Banker since 1906!