Fair Market Value Pushed Up by Shrinking Inventory

The fair market value of home prices is determined by supply and demand. That is fundamental economics. But something unique is happening to Sequim and Port Angeles real estate prices that you may want to know. When supply decreases over a period of time and demand remains steady, prices will be pushed up. That’s logical, but there’s another

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Tipping Point

Is Sequim Reaching the Tipping Point?

Sequim is approaching a tipping point in the real estate market, and we may be there now. There is actually more than one tipping point, but they are both connected. This has so much relevance for buyers today. Over a year ago I wrote that Sequim real estate prices had stabilized over the previous year, and

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Buyers Lose as They Procrastinate for Days or Weeks

Buyers lose in Sequim every week as other buyers move in ahead of them and submit an offer first. It wasn’t like this during the past six or seven years of the recession. We always had plenty of time, and taking days or even a couple of weeks to make a decision on an offer

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Sequim Washington is Growing

Sequim Washington is growing even in this national recession.  How is that possible?  Sequim is a very healthy little economy.  One of the reasons it is a healthy economy is because Sequim has been a retirement community for decades, and the retirees who move here tend to be conservative financially, and have not refinanced their

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Buyer Tips in a Buyer’s Market Part 3

This is the third in a series of Buyer Tips in a Buyer’s Market.  Sellers are making some big mistakes in this market, and a buyer who is fully informed and knows how to intelligently negotiate will have a huge advantage in this market.  In part 2 of this series of Buyer Tips, I wrote,

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Super Buyer’s Market with Real Estate Market Collapse

We are in a buyer’s market with the real estate market collapse.  While that might be obvious, it is much more of a buyer’s market than many realize.  This is what I would call a Super Buyer’s Market.  But it’s not a buyer’s market for any buyer.  Mortgage financing has gotten much more difficult to

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Lowest Mortgage Interest Rates in 50 Years

Click on Image to Enlarge In the early 1960’s a loaf of bread was 35 cents, a dozen eggs 50 cents, a gallon of milk 75 cents, and a postage stamp was only 5 cents.   A 30 year fixed rate mortgage was in the 5% range.   Today that same mortgage interest rate is

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Do Sequim Realtors Say It’s Time to Buy?

Sequim Realtors have differing opinions about the timing here:   is now the time to buy a home or should a person wait for a while?   Someone once posted a comment that Realtors always say it’s time to buy.   Well, there’s some truth to that, but it’s not true. I’m more interested in

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What the Market Crash Taught Me About Real Estate

The real estate market has taken a serious beating these past months, and the U.S. economy appears to be chaotic at best. I’ve been watching real estate cycles for 30 years, and I’ve learned four important lessons in this market. Lesson Number 1. The national real estate market has very little to do with a

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Buyers Asking, “Should I Buy Now?”

Buyers are asking if they should buy now or wait, whether we are at a bottom in prices or have further to drop.   It’s a logical question, one that investors in the stock market are asking with great fervency lately. In an earlier article entitled Distinguish the Market and One House I wrote: When

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Buyer’s Market and Cash is King

Buying a home in Sequim or Port Angeles?   In 30 years in real estate I have not seen a buyer’s market like this.   I recently wrote a comment on another forum saying it is definitely a good time for qualified buyers to buy a home.   Another forum contributor writing under the name

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