What is going on in the real estate market? I just got off the phone with a client that said “ You are a calming influence in a stormy time.” I want to do the same for you.
You need to know that there are buyers buying and sellers selling. Not as many as the last few years, but our market isn’t collapsing! In fact, Forbes just names Seattle the #1 place for real estate investors to invest.Do you ever remember a time when there was more talk about real estate? You can’t get on the internet, listen to the radio, television news, or read a newspaper headline without the doom and gloom of plummeting real estate values. The good news for us is that everywhere we turn people are talking about real estate, the bad news is they aren’t talking about our local market, just attributing the declining values and foreclosure statistics from the worst parts of the country to our local market. That is the wrong way to look at it.
In an effort to answer the questions we are being asked and allay the fears of those that tend to be nervous, are doing four things. First, we are answering a lot of questions and reaching out to people that can give us insights we can pass along to you. Second, we are providing monthly inventory and sales figures in specific areas in this newsletter. Third, we have a monthly teleconference call where all are invited to just listen or participate when we further examine the inventory and demand ratios, discuss a current topic you need to know about and answer questions. Fourth, we are now providing figures so you can judge “The Pulse of the Market” by posting weekly inventory and demand figures in King, Pierce and Snohomish Counties.
The old adage that “knowledge is power” couldn’t be more true during these times. Please don’t lose sleep or waste energy being anxious. I have facts, statistics and advice that will let you make an informed decision about what is going on and hopefully, you’ll spread that good word!