For some reason, Bellevue WA Real Estate has a reputation for slowing down in the fall time. In fact, so does Seattle, WA real estate and real estate across the United States. Spring and summer are definitely the busiest months for buying or selling real estate in Bellevue, WA as well as real estate in Seattle, WA, as this is the time of year that families are looking to move while school is out. However, with real estate in our part of the country being in such high demand, the temperatures may cool, but the local Bellevue, WA real estate industry will not. With our local economy continuing to flourish and so many people moving here, we have high demand and a low supply which will likely keep our local area’s market hot for the next couple years. Whether you are a buyer or a seller, check out below why you shouldn’t wait to purchase real estate in Seattle, WA and real estate in Bellevue, WA!
As a Buyer:
1.) Prices for real estate in Bellevue, WA & real estate in Seattle, WA are expected to increase. CoreLogic’s recently release Home Price Index report states that homes have already appreciated by 6.7% over the last 12 months and are expected to increase at a rate of 5% over the next 12 months.
2.) Mortgage interest rates are expected to increase. With how historically low they have been, now has never been a better time to buy. Especially if you are looking to purchase luxury Seattle real estate or luxury Bellevue, WA real estate. With prices averaging close to luxury Seattle real estate prices, it makes more sense than ever to move up and lock in a great rate while doing it. Even if you aren’t looking to get into the luxury Bellevue, WA real estate market, an increased mortgage rate impacts your purchasing power with even the littlest percentage change.
3.) You are paying a mortgage regardless. With how much prices are increasing in both Seattle, WA real estate and Bellevue, WA real estate, you may as well be getting equity out of these monthly payments.
As a Seller:
1.) The demand is strong! Whether someone is looking for an average priced home or luxury Seattle real estate, there is demand for almost every market. Depending on the neighborhood, your home for sale in Seattle, WA could sell in a week with multiple offers. Of course, have your Seattle, WA realtor pull a market analysis for you so you can have a more detailed report for your local area that will give you a better idea of what is happening in your immediate area.
2.) There isn’t a whole lot of competition as far as homes for sale in Seattle, WA go. Same with homes for sale in Bellevue, WA. With how low our inventory is, as a long time local Seattle, WA realtor AND Bellevue, WA realtor, there has never been a better time to list.
3.) Because of this, the process for moving homes for sale in Seattle, WA and homes for sale in Bellevue, WA will be much quicker.
4.) NOW is a great time to move up if you are in the market for luxury Seattle real estate OR luxury Bellevue, WA real estate! Interest rates are still relatively low, which means you can lock in a great rate on your dream home. Add in that prices are expected to increase, and you don’t want to be shut out of your dream home.
If you are looking for a Seattle, WA realtor or a Bellevue, WA realtor, give me a call. I would be happy to help you through your buying and selling needs.