Having witnessed the purchase of homes with mortgage rates in the high teens back in the 1980's, it is wonderful to see rates as low as 2.75% for 15 year mortgages and near 3.5% for 30 year fixed mortgages. Those low rates buy you more house for your money. How long this golden opportunity to buy and sell will last is, of course, the million dollar question I wish we had the answer to. With the "fiscal cliff" looming and all the talk about our economy, unemployment rates, etc. we can't begin to guess what 2013 will bring. What we do know is that this year was a very good year for many buyers and sellers.
Besides being a good year for buyers and sellers, it's been a very good year for my office in Bellevue, Coldwell Banker Bain. According to Coldwell Banker Bain-Bellevue's Marking Director, Christopher King, over the past 12 months, Coldwell Banker Bain-Bellevue has been the region's top-selling real estate office:
- We've sold over $850 million in homes, the most in Washington and 12% more than our closest competitor;
- In King County, our total sales are 18% more than our closest competitor;
- On the Eastside, our total sales are 21% more than our closest competitor and we've had the most units (homes sold) in Buyer Sales of any office;
- Our average List-Sold price of $845,400 is 66% higher than the Eastside average
As we see 2012 come to a close, we look back and see progress made in the world of real estate. The market has unquestionably turned around and is headed in the right direction. I am looking forward to 2013 as I hope you are as well. Whom do you know who likely will be next to buy or sell a home? It would be my pleasure to be of assistance to them in this process; please have them give me a call.