Seattle Real Estate News

What to expect in 2017

December 31st, 2016 11:55 AM by Sam Kader

Welcome 2017. What will you unfold for us?

1. Interest rate. The Federal Reserve in on tract to raise interest rates through the end of 2017. The National Association of Realtors predicts that we will see conventional 30 Year Fixed at around 4.6% by end of 2017 (in retrospect still not as bad but not as good as 2016). Higher rates translate to less purchasing power. Please ensure that these 5 items are fully underwritten and that your Pre-Approval is bullet-proof.

2. Price point. Selling your house in multiple-offer situation. Ensure that you receive a complete comparative market analysis (CMA) without getting priced out.

3. Location. Allowance for 30 minutes commute may translate to about 10 miles radius for your search. Overlay that area with your other wish list such as school system, outdoor activities, city center etc. and constraint these items with your price range.

4. Home condition. You can't have it all in today's market. Be prepared to compromise with your "must haves".

5. Market conditions. Know what the current market conditions and what projections are and seasonality and inventory play a part in the buying and selling process. For example real estate market is usually the busiest between May and August and taper off in the winter time.

Posted in:Housing Market and tagged: Housing Market
Posted by Sam Kader on December 31st, 2016 11:55 AM


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