Land Cook

Tech. Basketball. Laughter. Real estate. Acts of kindness.

[Land Cook @landbcook]

Amidst all the other news that is going on, some local news is @PSETalk announced they're raising rates over the next two years (18.6% for electric, 12.6% for gas). These are expected to begin in February.

Seattle Times with the story: https://t.co/jO1bEerJdb

[Land Cook @landbcook]

For more info on rates, we like @mortgagenewsmnd
https://t.co/OMK2xAudYK

[Land Cook @landbcook]

A lot of doom and gloom about real estate right now but some positive signs - mortgage rates dropped slightly to 7.11% and we got a report of a Mountlake Terrace home that had 8 offers with a big escalation over asking. There are buyers out there!

#seattle #RealEstate

[Urban Living Seattle @urbnlivn]

The market is heating up. Clients offered on a $2M Green Lake home - the seller received 5 offers with the highest willing to go to $2.5M with $150K of non-refundable earnest money.

[Land Cook @landbcook]

https://t.co/6Cc4Kwav9J

[Land Cook @landbcook]

Speaking of @mortgagenewsmnd, rates are lower today! 7.25% yesterday > 7.13% today.

[Land Cook @landbcook]

We did a home buyer webinar last night and one of the questions was if @mortgagenewsmnd was a good source! Resounding yes! I like to check it when I have my morning coffee. And at lunch!

[Land Cook @landbcook]

I’d combine the low mortgage rates and home price buckets. They conflate each other.

[Redfin @Redfin]

Reasons homeowners aren't selling: https://t.co/A5ubPyKB8q👇 #realestate

[Land Cook @landbcook]

Got some buyers under contract yesterday with a closing cost credit and an inspection contingency despite another offer in play. Home was on the market for 50 days and the seller did not want a deal contingent on the sale of another home which the other offer was.

It will be interesting to see how much of this we see this year.

#seattle #seattlerealestate

[Land Cook @landbcook]

@StoolGreenie Don’t let us get one #IYKYK

[Land Cook @landbcook]

Not sure how you could be driving west on 520 into Seattle this afternoon and not be so happy you live in this region. Seriously.

#seattle #ilikeithere

[Land Cook @landbcook]

https://t.co/6Cc4Kwav9J

[Land Cook @landbcook]

Oof. 30 yr mortgage rate is up to 7.24% today per MND. Not great for buyers or sellers. Anecdotally it feels more active this weekend than last as far as new listings and buyer activity.

[Land Cook @landbcook]

Numerology in real estate always catches me off guard but I kind of dig it!

[Rohin Dhar @rohindhar]

Pretty rare house listed for $2345689😮

[Land Cook @landbcook]

These tend to make them feel overpriced for the size and space unless you can afford a big townhome with parking.

Working with a couple now who mentions their commute will stink but they’d rather live farther out from their jobs in a space they like…

[Land Cook @landbcook]

Had a long chat yesterday with one of the lenders I know. The lender has a bunch of well qualified buyers who aren’t interested in Seattle’s “starter home” - the small townhome and he wanted to know what I thought…

I love townhomes but…

#seattle #seattlerealestate

[Land Cook @landbcook]

Seattle doesn’t seem to allow for small apartment/condo buildings for full floor units so we have a lot of townhomes. If a lot gets 1-2 too many units on it we end up with
- weird layouts
- lack of parking even for a single car
- tiny bedrooms

[Land Cook @landbcook]

The market feels dead in the water but there’s still homes moving. Buyers are more selective now and willing to hunt for the right thing.

SFHs are much more competitive still than condos.

[Land Cook @landbcook]

Mortgage rates are at a 6-months high today - 7.14%.

Median sales price since June 24

SFH:
- Seattle: +3.3%
- Bellevue: +2.7%

Condos:
- Seattle: +1.8%
- Bellevue: +11%
(excludes new construction)

[Land Cook @landbcook]

Median days on market

SFH:
- Seattle: 7 days
- Bellevue: 6 days

Condos:
- Seattle: 22 days
- Bellevue: 11 days