1 minute housing market update. Take one minute to update yourself on what's happening in your local housing world.
As a real estate professional, I inevitably get asked about current market conditions, whether now is a good time to buy or sell, or what are home prices like in my area. These questions are best answered with statistics because the real estate market is constantly in a state of flux. With that said, I've prepared a monthly newsletter that provides data to answer these, and other similar questions.
September by the stats...
This September the 4-county Puget Sound Region had 7,179 pending sales. The last time we had over 7,000 pending sales in September was in 2005. In September 2010, the NWMLS reported only 4350 pending sales in the 4 county area.
Closed sales jumped 17.5 percent, with year-over-year sales rising from 7,020 finished transactions to 8,245.
Single family homes in King County commanded the highest median price at $490,250, up 6.6 percent from the year-ago figure of $460,000.
Pending sales continue to outnumber new listings, resulting in inventory declines and rising prices in most areas....
House-hunters who procrastinate may have even less inventory to choose from in the upcoming winter months. It's predicted that the number of listings coming on the market will drop approximately 50 percent every 30 days compared to spring and summer months.
Mortgage Rates:
ProductRateChange Last week
30 year fixed 3.84% -0.03% 3.87%
15 year fixed 2.87% -0.08% 2.95%
5/1 ARM 3.02% 0.00% 3.02%
15 fall home maintenance tasks to tackle now:
Clean gutters and downspouts. Leaves and debris gather in gutters, which can cause ice dams and other water damage when snow falls and then melts, or during rainstorms. This is an easy task to do yourself if you can climb a ladder safely.
Remove leaves. Not only do you want the leaves out of your gutters, you want them off your roof and off your lawn. Despite what some may believe, letting leaves decay on your lawn does not provide fertilizer. "It's actually helping fungus and mold build up, which can kill your lawn," Ingram says.
Repair any damage to your roof "Anywhere you had shingle damage, that needs to be fixed and replaced," says J.B. Sassano, president of Mr. Handyman, which franchises handyman services nationwide. If water can get under your shingles, it can get into your home and cause damage.
Clean your chimney. Have a chimney sweep come in every year to check your fireplace for safety and clean out the remains of last year's fires. "If you use your fireplace regularly with wood, you've got to get that soot out of there," Ingram says. You also want to make sure that the cover to your chimney is intact and that birds or other critters haven't chosen to move in, Sassano says.
Check smoke detectors and carbon monoxide detectors. It's smart to test the devices and replace the batteries every six months, making this a chore for fall and spring. Also, make sure you have enough fire extinguishers and that they are in the right place.
Change filters in heating and air conditioning units. Most forced-air systems work better when the filters are clean. While some filters are advertised to last several months, people with pets or old houses with a lot of dust should change filters monthly.
Caulk around the windows. Cold air can easily enter your house around windows. Caulking wears out after a few years. This is a chore many homeowners can do themselves for less than $20.
Listings of the Month:
Phinney Ridge, Seattle Tri-Plex for Sale-$979,000
- 4 bed plus huge bonus room
- 2 story home plus den
- 3 car garage
- 2599 SF
- HUD Home!
- For more info go to: Renton Highlands Home for sale
Referrals:
If you know of someone who is looking to buy or sell a home we would love the opportunity to help them. We are a team of 4 experienced and passionate real estate professionals who strive to provide the highest level of customer service, market information, negotiating, and communication.
Happy Fall !
Chris, Kim, Shelia, and Lilia
The Chris Cross Real Estate Group
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