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After last week’s post we had several great comments. I’ll address one from “B” here, which really went to the heart of why this change is being made…. That being that the public in general really doesn’t understand who pay’s buyer’s agents’ commissions and how they affect the over-all purchase price of a home.

B Day wrote: Why would a salesman list or try and sell a house with no commission? If a person can sell it by their selves, I say let them but to not have a set commission across the board seems pretty self-defeating.

SEE: Conversations On Real Estate Commissions Part 1

  • Cary W Porter wrote: Thanks for the question…. It really gets to the heart of why the change was made and the surrounding confusion on real estate commissions.

    …

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  • New listings dropped nearly 13% system-wide and 18.5% in King County.
  • Pending sales rose nearly 6.6% in the Puget Sound region
  • June and July were also lackluster this year with regard to listings

KIRKLAND, Washington (September 9, 2019) – Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service.

The MLS report summarizing August activity shows less than two months of supply system-wide, and only about 1.6 months of supply in the four-county Puget Sound region. The sparse selection is pushing up…

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Transparency in Commissions

Fact: Real estate brokers’ commission rates are not regulated in any state and are ALWAYS 100% negotiable.

When you decide to sell your house, if you are like most people, you will want to hire — or at least consider hiring — a real estate agent to handle the process.

Surprisingly, many people think that real estate brokerage commission rates are “set” in their area and they have to pay a specific percentage of the sales price to the agent in order to get their services. This is absolutely not the case.  In fact, you can pay whatever you and the agent have agreed upon.

What is a “Fair” amount to pay for real estate commission?

Many people hear the word “discount” company instead of a “traditional” company but…

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Recession fears are growing, and that may prompt some Americans—who are still haunted by the last one—to get skittish about the housing market. Don’t expect another “real estate fire sale” if the economy heads into another recession, economists say.

“This is going to be a much shorter recession than the last one,” George Ratiu, senior economist with realtor.com®, notes in a recent article at the site. “I don’t think the next recession will be a repeat of 2008. … The housing market is in a better position.”

Just 2% of economists, strategists, academics, and policymakers surveyed believe a recession will occur this year, based on a survey of more than 200 members of the National Association for Business Economics. Thirty-eight percent believe a…

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Construction to begin on Aug. 26

Release Date: August 26, 2019

 

As we shared earlier this month, construction on the Issaquah-Fall City Road project is expected to begin today, Monday, Aug. 26, and last for about two years. Work over the next couple weeks will be limited and is expected to have little impact on traffic conditions in the area. We will continue to provide regular updates as additional construction activities are scheduled.

SE Issaquah-Fall City Road will remain open throughout construction, except during the 8-month closure between 247th Pl SE and Klahanie Dr SE during bridge construction. Traffic control and flaggers will be present to direct traffic through the work area. Expect some potential delays, noise,…

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By Janet Wickell

Nearly all home buyers hire a professional home inspector to take a close look at their new house before closing. You can speed things along by analyzing the condition of your home and making necessary repairs now before the house is under contract. Whole-home inspections cover numerous systems within the house, but there are a handful of hot-spots that concern buyers the most.

Mold and Mildew at the Home Inspection

Mildew stains and odors scare buyers, especially because toxic black mold is such a hot topic. You likely won't even get an acceptable offer if mold and mildew are present. Even if the mold in your house is the normal variety, treat it and address the source of the problem.

NOTE: If it comes up in…

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MLS director John Deely, principal managing broker at Coldwell Banker Bain in Seattle, described King County’s residential market as “balanced on a fulcrum between growth, stagnation, and decline.” New listings of single family homes (excluding condos) in King County dropped year-over-year and when compared to last month, he noted. Total active listings and pending sales both improved from a year ago, but slipped from June’s totals.

  • Median price dropped 2.7%.
  • Increased listing inventory from prior months put pressure on pricing,”
  • Home Prices declined about 2.9% from June.

 The Cascade Team Real Estate is a 2019 Neighborhood Favorite on NextDoor! 

Northwest MLS brokers report mixed activity during July, as volume of closed sales…

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We are very happy to announce that The Cascade Team Real Estate has been named the Best Real Estate Brokerage on NextDoor for 2 years in a row! The Cascade Team can be found in 617 different neighborhoods collectively representing 133,586 Home Owners. We are very proud to be a part of the neighborhoods we represent and are very proud in the trust you place in all of our amazing agents and neighbors!

Congratulations, you're a 2019 Neighborhood Favorite! It’s official - you’re a winner and neighbors love you! Only 1% of all businesses win this award, and The Cascade Team Real Estate is one of them!

The votes have been tallied and the winners are in. We're pleased to announce the businesses Nextdoor voted as 2019's Neighborhood Favorites!

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 Diana Olick  
  • The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
  • Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier.
  • “The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says."

Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.

The dollar volume of homes purchased by…

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  • Area Home Prices Increase a Normal 3.5% YTD
  • King County Prices Slightly Down
  • Inventory, pending sales and prices all increased during June

Buyers getting “some relief” as key indicators point to strong summer for housing market

KIRKLAND, Washington (July 8, 2019) – Inventory, pending sales and prices all increased during June
compared to a year ago, according to the latest report from Northwest Multiple Listing Service. The same
report, which covers 23 counties in Washington state, shows year-over-year drops area-wide in both the
volume of new listings and closed sales.

“Clearly we now see that the market is moderating – that is we’re definitely moving from a ‘hypermarket’
to one where a correction is underway compared to last year,”…

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