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Home Sequim MLS

Buyer’s Market in Sequim and Port Angeles

by
July 27, 2012
Reading Time: 2 mins read
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sequim_homes_for_sale_woodcockIt’s a buyer’s market in Sequim, Washington (and in Port Angeles), and if ever a buyer had the advantage, it is now.  There are five very clear reasons this is a buyer’s market right now on the Olympic Peninsula:

1.  It’s winter, and these next few months are the slowest time of year for selling real estate.  If you are a qualified buyer and you make an offer on a home, you will definitely have the seller’s attention, who will understand that if he is serious about selling, he must carefully consider your offer.

2.  The inventory is large.  Buyers have choices now they didn’t have in 2005 and 2006, when houses were selling like hot cakes.  But this doesn’t mean that buyers have all the time in the world to dilly dally, because the best of the best homes are selling.  I’ve written elsewhere about how buyers are cherry picking the best homes.

3.  The IRS buyer’s tax credit will not last forever.

4.  Interest rates are at or near a historical low for the past three decades, and that will not last forever.

5.  Sellers are motivated.  They’re motivated not only because of the time of year, but because many wanted to be moved before winter, and they are not.  Some are motivated for financial reasons.  They’ve made other plans, own another home in Arizona, and it’s time to sell this home and get out from under a second mortgage payment.

If you plan to buy a home or land in Sequim or Port Angeles next spring or summer, may I make a bold suggestion?  Buy it now and save a lot of money.  The competition next spring will be substantially greater than it is now.  You will be in a much stronger negotiating position  in the midst of winter compared to the hot spring and summer market, and that would be a good thing.  Right?

Search the entire Sequim MLS and Port Angeles MLS here.

Last Updated on July 27, 2012 by Chuck Marunde

Tags: Buyer's MarketSequim
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Comments 1

  1. fha says:
    12 years ago

    I think that you are definitely right. The market is improving and the prices will be up.

    Reply

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  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
    • Professional Buyer’s Agent
    • Flat Fee Listing Broker

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