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Expectations for 2022 in Seattle/King County Real Estate

Will Springer Realtor

A shortage of homes for sale sparked some of the fastest-moving deals in memory, particularly on the Eastside, where single-family homes “sat” on the market for a median 5.4 What will the 2022 Seattle/King County housing market offer? They took advantage of multiple bids, price surges, waived contingencies and all-cash offers.

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Expectations for 2024 in Seattle/King County Real Estate

Will Springer Realtor

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. Buyers and sellers tiptoed through caution. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Um, bye-bye!

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

The share of first-time buyers has dropped to a 41-year low [26%], the racial divide in homeownership has grown to the widest point in a decade and the share of single women entering [the market] has declined.” Some experts estimate owning a home can account for two-thirds of the typical family’s total assets.

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Expectations for 2023 in Seattle/King County Real Estate

Will Springer Realtor

The bloom came off the financial rose in 2022, leaving behind thorny issues as we enter an uneasy new year for residential real estate across Puget Sound. in the first half of 2022. For 34 consecutive months ending in March, buyers enjoyed mortgage interest rates of 4.0% or lower – as low as 2.77%, according to Freddie Mac.

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2024 USPAP For Appraisers

Appraisal Today

2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats. This year, for the first time, you can purchase just the book of USPAP standards for $35. This covers all Definitions, Rules, and Standards.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

It’s particularly true among homes priced at or below $500,000 in King County, where only 737 of those properties sold in August (36% fewer than in August 2019). They informed shareholders of a 23% year-on-year increase of land purchases and about a 30% boost in single-family permits across the U.S.

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

Many local governments permit at least one dwelling unit with the main residence and some locales accept an attached and detached unit on the same property. For homeowners wishing to add a dwelling, the outcome can be steady rental income unless offered free to, say, a family member. Sit, relax, enjoy the sun and take in the view.