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'Whisper listings' have increased from 2.4% to 4%'

By Paul Best FOX Business

America's red-hot housing market shows no signs of cooling off with home prices rising by a record-breaking annual rate of 17.2% in March, according to the National Realtors Association. 

AVOIDING BUYER FATIGUE IN A SELLER’S MARKET

As demand for houses shows no signs of abating, real estate agents have increasingly used a controversial practice known as pocket listings, or "whisper listings," to connect sellers and would-be home buyers. 

A pocket listing is any home that goes up for sale but doesn't get listed on an area's multiple listing service (MLS), which is a private database that real estate agents use to share information. 

The number of pocket…

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  •          “There may be hope on the horizon as we head into the prime-time months for sellers.”
  •          Brokers added 12,043 new listings of homes and condos.
  •          16 of the 26 counties in the report had at least a 20% increase in active listings at the end of April compared to March.
  •          Even with some improvement in listings there is only 0.64 months of inventory, with even less supply (0.57 months) in the four-county Puget Sound region.

KIRKLAND, Washington (May 5, 2021) – Finally, some good news for home buyers! Sizeable increases in new listings compared to a year ago and reports of moderating prices “might mean we are seeing some relief for buyers,” suggested John Deely, a board member at Northwest Multiple Listing…

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  •          Double-digit price hikes were widespread.
  •          Mutually accepted offers surge 40.6% compared to February.
  •          The drop in the number of active listings between now and last year is extraordinary.
  •          Statistics show a 55.9% decline in total active listings, shrinking from 9,418 at the end of March 2020 to 4,153 at month end March 2021.
  •          Seattle/Bellevue region now ranks #1 in technology office space leases, eclipsing San Francisco
  •          Median prices system-wide surged 19.5% compared to a year ago.

KIRKLAND, Washington (April 7, 2021) – Brokers with Northwest Multiple Listing Service (NWMLS) added 10,562 new listings to inventory during March -- the highest volume since September when they…

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There are currently eight (8) licensed real estate agents in the greater Seattle area for every (1) house available to sell. With nearly 33,000 licensed real estate agents in Western Washington, the current total number of listings as of March 23rd, 2021 including residential, condominium, and even mobile homes are only 4394.

With Nearly 8 Agents for Every 1 Listing, What Are YOU Doing to Stand Out? The Cascade Team can Help!

As New Agents Pile Into Hot Housing Market. Most Find It Tough Going.

The red-hot housing market has achieved a number of milestones this past year. Perhaps the most telling is this: There are more real-estate agents than homes for sale. Currently in the Pacific NW that number is a staggering 8 to 1 ratio (Being 8 agents…

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There are currently eight (8) licensed real estate agents in the greater Seattle area for every (1) house available to sell. With nearly 33,000 licensed real estate agents in Western Washington, the current total number of listings as of March 23rd, 2021 including residential, condominium, and even mobile homes are only 4394.

As New Agents Pile Into Hot Housing Market. Most Find It Tough Going.

The red-hot housing market has achieved a number of milestones this past year. Perhaps the most telling is this: There are more real-estate agents than homes for sale. Currently in the Pacific NW that number is a staggering 8 to 1 ratio (Being 8 agents to every single available listing).

So how do you stand out?

How do you break into the industry…

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Covering housing news and more. Our informative and locally based real estate news blog will feature the latest housing statistics for Sammamish and Issaquah as well as information on Bidding Wars, mortgage rates and local information that affect your home and commute like the new Klahanie Bridge on Issaquah-Fall City Road.

We’ll dive deep into the stats and strive hard to provide detailed analysis the is helpfully while also being easy to understand.

If you ever have a question or suggestion we’re here. Just reach out to us and let us know and we’ll be happy to answer!

Check out some of our most current stories below:

Klahanie Bridge / Issaquah Fall City Road Construction Delayed

Housing Crisis 2021: Lack of Inventory

What to Know…

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This is the real estate climate we're currently living in—and it has everything to do with the COVID-19 pandemic.

The COVID-19 pandemic has had a major impact on the real estate industry, and as a result, many parts of the country are experiencing what is known as a seller's market. The pandemic caused everyone to reevaluate where they're being quarantined.  Take the simple fact that a home is no longer a home, the home is now a workplace as well. It's also a school. And that really has gotten a lot of people in a position where they've decided to pull the trigger and change the condition that they live in.

"Simply put, a seller's market is a marketplace in which sellers have a competitive advantage due to pent-up buyer demand and low home…

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Klahanie was one of the hottest markets on the Eastside for 2020. Overall, there were substantial increases in price coupled with declining days on market and bidding wars often driving homes sales well above asking price.

One example detailed below listed at $1.1 million and sold for $1,220,005 in only 6 Days on Market which equates to 110.91% of Asking Price!

So, What’s in store for 2021?

  •        All indications are continued price growth estimated to be at least 10% or higher.
  •        Bidding Wars and multiple offers on homes.
  •        Low inventory
  •        Low but slightly increasing interest rates

Take a look at the stats below for a full breakdown. Please remember that each home is different as are the motivations of each…

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Here is your chance to be part of an innovative Real Estate Brokerage that's changing how things are done!

The Ultimate Agent Experience!

Imagine having clients actually chase after you to list their home…. That's right! With The Cascade Team's Full Service platform, incredible value proposition, and full support YOU will have all of the tools to become the top listing broker in your neighborhood.... You get to be "That Agent" that everyone calls to list their home!

Then Having a company that invest $1,000’s upfront in you and the marketing of your listings without making a penny unless you sell homes!.... That’s right! A company completely and financially committed to YOUR success!

From Premiere placement on top real estate websites, paid…

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Brokers/Agents working at The Cascade Team are asked to NOT include any Buyer letters or allow them to be received with offers on properties they represent:

The Fair Housing Act provides, in part, that sellers cannot refuse to sell a house based on race, religion, color, national origin, sex, family status or disability. Furthermore, the law further protects homebuyers from discrimination based on age, sexual orientation, marital status, veteran status, ancestry or source of income.

Homebuyers ask all the time about buyer letters. You know the letters I mean: the ones where the buyers write about how much they love the house and why they or their family or their kids will love living there and why the sellers should pick their offer.

That…

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