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Found 2 blog entries tagged as Bidding Wars.

Housing Market Update: Hottest January on Record

Pending sales posted their first annual decline since June 2020, stalled due to a lack of supply. Early spring has the potential to be even hotter and more volatile: stock-market declines, mortgage-rate increases, and mounting affordability pressures are escalating the sense of urgency for buyers and as a result the limited inventory of homes are seeing their values skyrocket at unheard of rates.

While dwindling housing inventory continues to be a source of frustration across the country, Washington has been hit harder by the housing crisis than any other state, according to a new study by the Washington State Department of Commerce.

Washington ranks last among 50 states in the ratio…

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Understanding the Numbers When Buying in a Low Inventory Real Estate Market

As a homebuyer in today’s market, you’re no doubt at your wit’s end trying to find your dream home.

And when you find a home you love,  you’re competing with all cash offers and bidding wars driving the sales price above what it’s listed for, and many times, even above what the home is actually worth!

While there is nothing you can do to create more homes for sale, you can certainly arm yourself by understanding the trends and patterns in the areas you’re trying to buy in.

While it’s not quite rocket science, there is definitely a significant competitive advantage to those that understand the trends of a real estate market.

Sometimes, being competitive means not…

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