Seattle Real Estate

Place for real estate news and area events

How is the move-up and higher end market? April 22, 2010



Showing Signs of Life

Over the past several years, first-time buyers made up about 42 percent of the market. As a result of home buyer tax credits, those first timers represent close to 50 percent of buyers. However, increasing activity in the upper price ranges shows that buyers in the move-up/luxury market are sparking the housing recovery as well.

In King County, pending sales* of entry/first-time/move-up homes (those priced $599,999 or less) were up more than 100 percent
over last March. In the move-up/luxury market ($600,000+), pending sales were up more than 150 percent over last year.This is clear evidence that the move-up/luxury market is making a good recovery, especially when you consider that this market has not directly benefited from home buyer tax credits like the lower price ranges have.

Why is the move-up/luxury market improving?

• Buyers who are hoping to “time” the bottom of the market

• Low interest rates

• The increased affordability of jumbo loans

At this time last year, interest rates on a jumbo loan were in excess of 8 percent due to a large number of lenders exiting the jumbo market.Today, many of those lenders are returning, which has helped bring interest rates on jumbo loans more in line with conforming loan rates: near 5.5 percent. In addition, King County FHA loan limits are up to $575,500, which means that a buyer can purchase a home with as little as 3.5 percent down payment as long as the loan does not exceed $575,500.
There is clear evidence that the move-up/luxury
market is making a good recovery, especially when you consider that this market has not directly benefited from home
buyer tax credits. ”

With increasing optimism in employment numbers and consumer confidence, as well as the increasing availability of financing products,the housing market recovery should continue at a steady pace.And as we are already seeing,the recovery appears to be taking place throughout the price points, not just in the markets that have been bolstered by tax credits.

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Home sales up higher then expected

Filed under: Area info,Economy,Good News — Rolland @ 7:52 pm
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31F6462B-68ED-424E-8309-B90F33E5ECB5.jpgHome sales rose more than expected in March, reversing three months of declines, as government incentives drew in buyers and kicked off what’s expected to be a strong spring selling season.

Sales of previously occupied homes rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million last month, the highest level since December, the National Association of Realtors said Thursday.

…The government is offering a $8,000 credit for first-time buyers and $6,500 for current homeowners willing to buy and move into another property.

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The Move-up effect! October 25, 2009



Forbes: America’s best states for business – October 3, 2009

Filed under: Economy,Good News,Marketing information — Rolland @ 9:13 pm
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Forbes: America’s best states for business – “In the rankings of best states for business, Washington comes in second”



Any place better to live than Seattle? Just one August 11, 2009

Filed under: Area info,Good News — Rolland @ 1:22 am
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Seattle is listed by Outside Magazine as the 2nd best place to live.

“The recession arrived late in Seattle, thanks to future-trending corporations like Amazon, Micro soft, and Boeing, and unemployment leveled off in March, helping the city avoid a major collapse in housing prices. Leaving nature-hungry urbanites free to conduct business as usual:”

Not to mention our long standing awesome 80% library card carrying record to boot! We rock Seattle!

Any place better to live than Seattle? Just one, mag says: “”

(Via .)



Legislature approves loan program to give home-buyer credit early April 29, 2009

Legislature approves loan program to give home-buyer credit early: “”


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Mortgage applications surge 32.2 percent March 27, 2009

Filed under: Economy,Good News,Mortgage Information — Rolland @ 3:32 pm
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Wonder where the bottom is?  Found it!

U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.

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Good news; Home sales are up. March 24, 2009

Filed under: Economy,Good News — Rolland @ 12:02 am

The February numbers are out and home sales have increased by 5.1%. “Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply following the stock market plunge last autumn.” This is the biggest jump since back in July 2003.

First time home buyers are being credited with half of this increase. The word is getting out there and people are understanding that the most important opportunity of their lifetime is now.

Been sitting out there watching and waiting for the bottom? It is here and now, lets get together and make your dream a reality.

Rolland Lawrenz
rollandlawrenz @


Mobile News Network: “”

(Via .)


“the bottom of the housing downturn is in sight for the nation.” February 17, 2009

Filed under: Economy,Good News — Rolland @ 6:48 pm
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This article is bringing great news to us all. Take a moment and check out this article by clicking the link. As always, please leave your comments here!


Realty Times – Real Estate Outlook: Bottom in Sight?: “‘the bottom of the housing downturn is in sight for the nation.'”

(Via .)