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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

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Buyers Cherry Picking the Best Sequim Homes

by Chuck Marunde / Tuesday, 24 February 2009 / Published in Buying Real Estate in Port Angeles and Sequim, Sequim Homes For Sale

Buyers are cherry picking the best Sequim homes in this market, and that means the best houses in the best neighborhoods are selling now.   I know this, because I just sold two.

There is a lot of talk and much in the press about the large inventories out there. There are more Sequim homes on the market and fewer selling than last year, and foreclosures are only adding to that inventory. As a result there is a perception by the public at large that buyers have all these choices, like a smorgasbord, and that buyers can just sit back and take their time, because they have all the time in the world.

Sequim Homes are Selling

Buyers don’t have all the time in the world to find their ideal home in the inventory of Sequim homes for sale, and here is the revelation. Right now buyers are cherry picking. Of course, they are cherry picking. Why not? This is a time to find a good deal. But when I say buyers are cherry picking, I mean something much more, something with far greater implications for buyers.

The process for a buyer is fairly standard. First, buyers spend a lot of time on the Internet filtering through large numbers of homes in the MLS online. They narrow down the possibilities after days, or more often over a period of weeks, and then they start driving around or they contact a Realtor.

Then a buyer may look at a dozen houses with their Realtor, or maybe even two dozen. Out of 10 to 15 houses, the houses they have pulled out of the MLS after filtering with their parameters, they may find one that would make them say, “Yes, we could live in this home. This could be home.”

Sequim Homes Appeal to Many Retirees

Buyers are not all that different.In other words, 100 buyers tend to gravitate toward the same houses, the nicer homes in nicer neighborhoods.

Buyers are cherry picking the best houses in the best neighborhoods at the best prices. This makes 90% of the existing inventory irrelevant or not part of most Buyers’ universe of potential homes. Since the cherry picked homes are not part of the 90% of remaining homes for sale in the MLS, the available inventory that is suitable for a particular buyer is really quite small, perhaps only 10% of the actual inventory.

In Clallam County, we have about 800 single family residences in the MLS for sale, including prime Sequim homes for sale. If I am right about this cherry picking process that is going on right now, that would mean there are probably only 80 Sequim homes that might actually be suitable for you. But then we both know that you would narrow that list of 80 Sequim homes down very quickly, because that includes all homes at all prices in all neighborhoods. So by the time we filter that list of 80 homes based on your parameters, that will leave something like 20 homes on the market that might be suitable for you.

How long do you think those 20 homes will last when all other buyers like you are doing the same thing you are doing–cherry picking the best homes in the best neighborhoods at the best prices?

I would never suggest a person should get in a rush and buy one of the Sequim homes for sale out of a false sense of urgency. One should always take one’s time and try to make wise decisions, and that includes buying your next home. But if you think you have all the time in the world, may I suggest that in three to six months, more or less, the ideal home you would have bought will have already been cherry picked, and the best homes will not be for sale for a long long time. You may be left with the remaining 90% of the inventory, and settling for something less than your ideal retirement home is not a very attractive idea to most people.

Sequim Homes Unique

Here’s a question for you to consider. Do you want a home that is someone else’s idea of a a dream home with their perfect floor plan and kitchen design? Or is your dream home going to be perfectly suited for you and your preferences? You can see why many people are still choosing to build their retirement home, rather than buy an existing home that was someone else’s dream. Building your own home right now may cost somewhat more than buying an existing home that is under valued, but if you expect to live the next 10 to 30 years in your retirement home, what price do you put on comfort and convenience for the rest of your life?

By the way, interest rates have bottomed out in my opinion, and they are getting ready to start a steady climb upward, and with the billions of dollars being pumped into our economy by the Feds, you can expect at some point soon, we will begin to see recovery, which means a slow but steady inflation in prices. If you’re expecting prices or interest rates to go lower, think again.

If I were going to buy or build a home, and I was prepared to start, I would not delay.  And if I was going to buy an existing home, I would keep in mind that the best of the best Sequim homes are selling.

Possibly Related Posts:

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  • What if I Lose Out On The Perfect Home?
  • Home Shortage in Sequim
  • Negotiating in Sequim
  • Should I Submit a Backup Offer on a Pending Transaction?

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About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

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From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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