Happy new year! As your real estate professional, it is my pleasure to provide to you, as much relevant real estate information as possible. This article contains numerous links to more information, videos with quick infographic statistic updates, and updates from local lenders from the mortgage & financing prospective. Contact me anytime to discuss this info and what it means to you. Let me know if you would like specific information for your neighborhood and share with me any information you come across to help me make this info the best it can be.

According to the Northwest Multiple Listing Service (NWMLS):

“ “Finding and buying a home today is more difficult than at any time in the past 40 years of my career,” was how broker Dick Beeson summed up the latest statistics from Northwest Multiple Listing Service. Beeson, the managing broker at REMAX Northwest in Tacoma-Gig Harbor, said he has never seen so many buyers needing to write multiple offers before securing a home. “Interest rates are incredibly low. Inventory is incredibly low. And anxiety is incredibly high among buyers,” he remarked.”… To read the complete NWMLS November Press Release click here

“– Some real estate brokers expect the competition for homes to ease somewhat over the holidays, but the latest statistics from Northwest Multiple Listing Service indicate activity is unusually strong heading into December. “The rush is on for housing,” exclaimed J. Lennox Scott, chairman and CEO at John L. Scott Real Estate. “Real estate activity typically chills as temperatures drop but buyer demand remains high. “With low unsold inventory, all eyes will be on each new home that comes on the market,” he suggested,”… To read the complete NWMLS December Press Release click here

virtual open sign.jpg — Virtual Open Houses are still here!

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Due to COVID-19 there has been a pause put on in person open houses until the governor deems it safe to continue. We can still show and look at homes in person or virtually and virtual open houses are also allowed. When attending an in person showing everyone involved is required to wear a mask and social distance at all times. No more than 5 people are allowed to be on site. To read the full document provided by NWMLS regarding how the SafeStart Proclamation relates to real estate, click here.

“Insatiable buyer demand” is keeping inventory scarce as house hunters try to outmaneuver and outbid each other, according to reports from Northwest Multiple Listing Service (NWMLS). Click on this Youtube video for the full caption and video!

Lender updates from Tina, Eric, & Mark

If you want to know what is happening with the money-side of things in real estate, ask a mortgage lender. Below is info from Tina, Eric & Mark. I hope you find this info helpful. These lenders are available for you and can provide information to you regarding your plans to purchase or refinance a home. Let me know if you talk with them and how I can assist you as your Realtor. Thanks! Jen 206-550-1676

Click on the video image above for the latest Mortgage Minutes with Tina Mitchell for an explanation of:

Mortgage Options - There are many options available - including buying down points, avoiding PMI, closing costs, and more!

Tina Mitchell with Highlands Residential Mortgage is a fabulous lender. She has been in the mortgage industry for over 2 decades and has been recognized in the top 1% Nationwide. She is a numbers gal and can talk with you about possible loan options. I also really like her communication style. You can schedule a time with Tina now (for a video zoom conference call) using this link. She is available by cellular phone and even works nights & weekends! Tina promptly follows up your no obligation consultation with informative emails showing your different loan options, estimations of costs, and other important info in writing and throughout the process has the best communications of any lender I have ever seen. The first step is to schedule a meeting to review loan options, cash needed and payment breakdown. There is no cost or commitment to move forward, it’s just education. Call Tina now or if it’s more convenient you can use the following online calendar to Schedule a Consultation at https://calendly.com/tinamitchell/. Tina Mitchell, Highlands Residential Mortgage • Loan Originator, NMLS 145420 • Cellular: (425) 647-0205 • “Live Your Dream Now!” Read more about Tina www.TinaMitchellTeam.com

Click this link for Eric’s website and to contact Eric.

These thorough market updates from lender, Eric Aasness, Branch Sales Manager, Homebridge Financial are full of great charts and economic information. At the end of each article, Eric has included the links to more than 10 additional articles related to home loans and the real estate market.

November 6, 2020 - Election Week Was a Win For Mortgage Rates
November 13, 2020 - New Loan Limits Soon; Refi Fee Confusion; and Rate Volatility
November 20, 2020 - Biggest Housing Boom Since 2006 And The Truth About "All-Time Low" Rates
December 4, 2020 - Mortgage Rate Rules Are Completely Out The Window
December 11, 2020 - Time To Think About Mortgage Rate Complacency (Before It's Too Late)
December 18, 2020 - Mostly Charts And Quick Takes on Housing and Rates

Here are some additional market updates provided by Mark Williams at Fairway Independent Mortgage Corporation:

November 20, 2020 - Home Sales Improve
November 25, 2020 - Strong New Home Sales
December 4, 2020 - Job Gains Fall Short
December 18, 2020 - Retail Sales Fall Short
December 30, 2020 - Housing Momentum Continues

This week saw increases in every category! Now that Thanksgiving is over the real estate market will be busier for a couple weeks until the week of Christmas. Week after week the amount of pending listings continues to exceed the number of new listings, furthering the low inventory that continues to make our real estate market so competitive. Despite the pandemic, buyers are still taking advantage of incredibly low (under 3%) interest rates. It’s still a great time to buy or sell!

Wow! The statistics comparing November 2020 to 2019 are incredible! Prices are up, number of sales are up, everything is up except inventory – which is low. Contact me if you want any info on specific neighborhoods around the Seattle area! Thanks- Jen:)

The graphs below contains information specific to the West Seattle area. Also, all of the images below are links to the interactive versions of the graphs! Just click on a graph and move your cursor along the line to see specific stats for every month throughout the years 2017-2020. Contact me if you have any questions or if you want any of these graphs made for your specific area!

West Seattle Real-estate zip code comparison of Median Sales Price

West Seattle Real-estate zip code comparison of Homes for Sale

Inventory throughout this year has remained low and continues to drop. This means that currently there are more buyers than sellers, making this an amazing time to sell!

West Seattle Real-estate zip code comparison of Median Days on Market

As you can see the days a listing spends on market tends to spike at the beginning of each year. This is mostly due to the fact that January and February are follow up months to an extremely busy Holiday season starting in November.

West Seattle Real-estate zip code comparison of Median Price Per Square Foot

If you have any thoughts or questions about this information or would like to talk, please call or text me at 206-550-1676. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information!

Check back for more updates throughout the year. Let’s talk about the market now in your neighborhood, your real estate goals, and whether or not this is a good time for you to list and sell your home. Call, text, or email anytime. I’m always here to help! Thank you,

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

www.JensRealty.com / 206-550-1676 / jen@jensrealty.com

Square Template - Zoom Video JensRealty Image.jpg

Here are some links to more articles & videos.

These helpful links are provided by Eric Aasness. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information! Thanks, Jen

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

Realtor / Broker

206-550-1676 / www.JensRealty.com