Seattle Real Estate Agents, Why Hire These Guys
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In this video the Gerisilo’s Happy Home Team give their predictions for where the Seattle Real Estate Market is headed in 2012 and beyond. Topics covered are when we may see appreciation again, when interest rates will go up, what the rate of home sales will be and much more. Here is a quick recap of the items discussed in the video: Inventory is shrinking. Fewest amount of new listings added over 10+ years! Limited supply of new construction homes. Less than 2000 new construction lots in Puget Sound added in 2011 vs. over 14000 new construction lots added in 2005 January 2012 had the highest rate of sales since July 2007 Interest rates at 200 year lows! 3.9% in 2011 vs. 4.9% in 2010 37% of sales are bank owned or short sales Significant backlog of bank owned and short sale homes that have not come to market yet Affordability has allowed buyers to own for less than rent Affordability has allowed investors to cash flow on rentals People that foreclosed on their homes or declared bankruptcy will qualify to buy again in the next 1-2 years Strong local economy. Tech jobs are growing 4 times faster than any other industry, and Seattle is leading the country in growth in this employment sector