As promised from last week – this week our “science” would be rolling in for end of year. I’m going to again highlight a few of my favorite talking points to help prep for those “pre appointment appointments” – yes, those questions at the grocery store, ski slopes, PTA meetings, board meetings, basketball games and the like…let’s sweep and get prepared…
Let’s first digest a bit from Steve Harney and his team in Keeping Current Matters…
In Steve’s January Market Update he speaks to consumer confidence being “thru the roof” and with confidence comes people moving. No doubt however, 90% of our challenge in 2017 again appears to be inventory. That said then, if we commit to educating more people we certainly might help move the market and uncover inventory that wasn’t currently available. A few things big picture to consider…
Studies have shown that people do not exactly know how much equity they have in their home. “I don’t know if I’d get enough money for my house to make it worth selling.” These are great slides to begin to create a conversation…with Washington State at a whopping 88% of home with Significant Equity (aka, > 20%)…
…and the slide above showing Washington State in the dark blue being the state in our country with the strongest “Buyer Traffic.” Another visual to support why this year would be a good year to consider selling. “Show” vs. “tell” is always more powerful. ***again, your office has resource to all of these KCM slides – just ask!
And then there is the almighty interest rate discussion – another consideration in “should I move this year” – specifically for potential move up buyers. Steve Harney summarized most resources expect to see interest rates by the end of 2017 somewhere between 4.5%-5%. For those that refinanced of late, this may hold people back from considering that move up as/if rates continue to rise.
***Interest rate “perspective” however is eloquently laid out in this Freddie Mac slide.
The local “science” – through December 2016
Click here for NWMLS Market Update, metro Seattle
Click here for NWMLS specific area reports
Ok, that is a wrap for this week…keep in mind this Monday (MLK Day) is a legal holiday when computing time for purchase and sale agreements and our offices are closed. It’s back to real estate we go as we create another very strong year together. I anticipate 2017 outperforming 2016 – especially if we are able to educate and uncover more supply.
…and oh, if you are looking for our Kickoff Event line-up see below…OB + Jill + I are looking forward to being your hosts on Monday – January 23rd 2017. See you then, if not before!
Laura Smith, General Manager | Windermere Real Estate Co.
Sign ups are in your offices – your manager has all the details!
8:30 | Doors open for clock hour class
9:00 – 12:00 | Demco clock hours, “Suits of the Past” + lunch ($40 agent charge)
12:30 doors open for Kickoff Event + Vendor welcome
1:00 | Laura & OB welcome to WREco. Talks
Matthew Gardner, Windermere Chief Economist
Kelly Pornour | Sand Point
Sol Villarreal | Eastlake
Patrick Corr | Wedgwood
Greg Lewis | Ballard
Jane A. Johnson | Madison Park
OB | In-city statistics for 2016
Laura & OB closing
4:00 | Cocktail Party Kickoff Celebration!