Seid Real Estate

05/01/2020

The April numbers are in!

April 2020 Market Update for King County:

Year-over-year figures ending April 30:
Homes Currently for Sale, -28%
New Home Listings in April, -38%
Median Sales Price, +4%
Average Days on the market, 5 days

Now is the time to sell:
With home supply at 2017 lows, it is absolutely the best time to sell now if you are thinking of selling in the near future. The truth is, both demand for and supply of homes are down significantly, but the home supply glut is much greater as sellers pull their homes off the market or reconsider even listing their homes for sale.

Real Life Example:
My neighbor closed on the sale of their home yesterday at their "green light" price. They received a full price offer only 3 days after listing it!

Here is my run down of real estate insights/predictions going forward in the month of May and beyond:

Homes prices in the following price ranges will...
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04/15/2020

Here is my new blog post covering ALL THINGS home inspection. If you're planning to do a home inspection or are curious what topics are covered in an inspection, I really encourage you to read this. I know it's a ton of information, but your home is probably your largest investment so let's learn to take great care of it!

When it comes to home inspections, be prepared that no home is perfect – not even the brand new homes! In fact, sometimes brand new homes have the most serious issues because no one has ever “test driven” the home for an extended period of time. Beyond the fresh layer of paint on the walls, .....

04/01/2020

Many homeowners are wondering how covid19 is affecting their home prices. So far, its still a great time to sell as the supply of homes for sale is ~30% lower than last year at this time while median sales price has remained stable at ~5% increase. Less competition among sellers and buyer demand still remaining strong.

02/21/2020

Current state of the real estate market:
Data: Trailing 90 days since January 2020, year-over-year growth
Consensus: Outlying cities in King, Pierce, Whatcom, Snohomish county are experiencing double-digit growth while Seattle hovers at 0% growth one year ago.

Seattle: 0%
Marysville: 13.7%
Federal Way: 9.6%
Olympia: 9.4%

01/22/2020

One of the most common FAQs I get is... whats your take on earthquake retrofitting? 99% of older homes in Seattle won't survive a 9.0 magnitude earthquake if it isn't retrofitted. This is the most knowledgeable expert I've come across explaining how a powerful magnitude earthquake affects your home and the best way to prepare it should we experience the "big one".

01/10/2020

We're really pushing the boundaries here! This is what $1,000 in rent looks like in Seattle!

For all the renters out there, its difficult to find an apartment to rent that's considered affordable, has the amenities you want, a good location and isn't the equivalent of a doorbuster deal on Black Friday where you have to bring a check to pay for the security deposit, first month's rent, pet d...

12/20/2019

New blog post series!

What are some topics you'd like me to cover next?

According to HUD, the Fair Market Rent for 2bd apartments in the Seattle/Bellevue metro area is a whopping $2,099/month. Ten years ago, it was $987/month.

11/22/2019

We're at a 2 month supply of homes for sale in Seattle. Most economists consider a balanced market is a 6 months supply. Less people moving means continued housing shortage.

After 40 years of steady declines in domestic migration, mobility has hit a new all-time low.

11/15/2019

New article is up! DSTs are essentially an alternative to index and mutual funds, but with real estate tax advantages.

Over the course of several years, there has been an incremental growth of investors who are choosing Delaware Statutory Trust (DST) properties as a preferred means of passive real estate investing for tax-deferred 1031 exchanges.

10/21/2019

A fantastic strategy for parents with kids in college... And a great way to save money, teach financial lessons, etc.

Some parents put the money they'd spend on out-of-state tuition, room and board into local real estate — a "kiddie condo."

09/27/2019

New blog post up: Avoid making these expensive mistakes as a first time home buyer! Partly informative about homes and renovation and part tongue-in-cheek. I enjoy writing these and I hope you enjoy reading them!

When purchasing a home, buyers want a plethora of renovations and upgrades because the previous owner’s tastes and yours are likely not the same. Most often, only a small portion of mentioned items make it on the renovation list. Let’s tackle some of the do’s and do not upgrades after you buy ...

09/26/2019

Unfortunately, wire fraud is very widespread. $1.3 Billion in transaction costs were loss in 2018 alone. Wiring instructions should always come from Escrow via secured email and no one else. If anything, CALL the escrow company to confirm wiring instructions.

When Dana Palmieri got an email asking her to wire almost $11,000 for closing costs, she thought it was coming from her lawyer