2018 has already produced intriguing results in our market with sold prices and inventory. If you are looking to invest and become a homeowner this year there are some key points to keep in mind under the current market conditions.
Out of the 25 most competitive neighborhoods in the United States, 19 of those are located in the Seattle Metro! 19! As an investor looking to become a homeowner in this market these concepts must be understood to succeed:
- Low inventory means more competition
- More competition means more offers the seller receives
- More offers means less contingencies, if any
- Less contingencies means waiving inspections
- Listing prices are no longer relevant to your budget
- Homes are selling higher than listing prices
- High prices means offering on homes listed below your all-in budget
See here for full article.