Hello all! The beautiful fall season is here, and it is my pleasure to provide to you as much relevant real estate information as possible as your real estate professional. This article contains numerous links to more information, videos with quick infographic statistic updates, and updates from local lenders from the mortgage & financing prospective. Contact me anytime to discuss this info and what it means to you. Let me know if you would like specific information for your neighborhood and share with me any information you come across to help me make this info the best it can be.

According to the Northwest Multiple Listing Service (NWMLS):

“ KIRKLAND, Washington (October 6, 2021) - September's housing market remained "very active" to "frenzied" around Washington state with brokers reporting year-over-year (YOY) gains in new listings, closed sales, and prices. Brokers with Northwest Multiple Listing Service also detected growing stability in the condominium market. "Historically low interest rates continue to drive the real estate market," remarked Dean Rebhuhn, owner at Village Homes and Properties. He also cited pent-up buyer demand, job and lifestyle changes, and inventory shortages as factors contributing to a "very active market." A new report from Northwest MLS shows brokers added slightly more new listings last month (11,373) than a year ago (11,210). That volume, which includes single-family homes and condominiums, nearly matched the total for August (11,437), and barely outgained the number of pending sales (11,318) for the 26 counties in the report....." To read the complete NWMLS September Press Release click here!

Square Template - Sold Summerfield 9.15.21.jpg

September was a busy month! Here are just a couple of the homes I had pleasure to work on. These 2 were especially interesting because both of these homes were actually owned by the same couple! A friend I used to work with recommended me to them and they were delightful. Both of these homes were rentals and they decided to hire a contractor to do a little work to help freshen them up. After the contractors were done we staged the homes both psychically and virtually! This combined with the professional photography, open houses, and high-quality marketing made the homes not only quick sellers with multiple offers, but both set new highest sale price records in their communities!

If you want to stay up to date on what else I was doing in September or any past months activities, go check out my Instagram and Facebook @jensrealty!🤩👍

For more personal and in depth updates, sign up for my newsletter here: Cont act me!

Lender updates from Tina, Eric, & Mark

If you want to know what is happening with the money-side of things in real estate, ask a mortgage lender. Below is info from Tina, Eric & Mark. I hope you find this info helpful. These lenders are available for you and can provide information to you regarding your plans to purchase or refinance a home. Let me know if you talk with them and how I can assist you as your Realtor. Thanks! Jen 206-550-1676

Mortgage Update - Tina gives a complete economic overview and how that relates to real estate. Demand is high, supply is low, the market is hot. (See Tina’s 4 minute video above)

Tina Mitchell with Highlands Residential Mortgage is a fabulous lender. She has been in the mortgage industry for over 2 decades and has been recognized in the top 1% Nationwide. She is a numbers gal and can talk with you about possible loan options. I also really like her communication style. You can schedule a time with Tina now (for a video zoom conference call) using this link. She is available by cellular phone and even works nights & weekends! Tina promptly follows up your no obligation consultation with informative emails showing your different loan options, estimations of costs, and other important info in writing and throughout the process has the best communications of any lender I have ever seen. The first step is to schedule a meeting to review loan options, cash needed and payment breakdown. There is no cost or commitment to move forward, it’s just education. Call Tina now or if it’s more convenient you can use the following online calendar to Schedule a Consultation at https://calendly.com/tinamitchell/. Tina Mitchell, Highlands Residential Mortgage • Loan Originator, NMLS 145420 • Cellular: (425) 647-0205 • “Live Your Dream Now!” See Tina’s website at: www.TinaMitchellTeam.com

Click this link for Eric’s website and to contact Eric.

These thorough market updates from lender, Eric Aasness, Branch Sales Manager, Homebridge Financial are full of great charts and economic information. At the end of each article, Eric has included the links to more than 10 additional articles related to home loans and the real estate market.

September 3, 2021 - Soaring Prices, Slumping Sales, And An Unexpected Reaction to The Jobs Report
September 10, 2021 - Rate Reckoning Draws Closer
September 17, 2021 - Rates at 2-Month Highs; Big Changes For Investor/2nd Home Loans
September 24, 2021 - Who's Lying About The Spike in Mortgage Rates?

Here are some additional market updates provided by Mark Williams at Fairway Independent Mortgage Corporation:

September 3, 2021 - Job Gains Fall Short
September 10, 2021 - Job Openings Surge
September 17, 2021 - Retail Sales Jump
September 24, 2021 - Mortgage Rates Rise

Compared to the prior week there were four significant changes. New listings were down 182 from the prior week. Pendings, Price Reductions, and Solds increased 256, 108, and 217 respectively. I would have expected new listings to have increased by now… It will be interesting to see what happens next week and we may need to take a deeper dive into the statistics!🤩👍

The graphs below contains information specific to the West Seattle area. Also, all of the images below are links to the interactive versions of the graphs! Just click on a graph and move your cursor along the line to see specific stats for every month throughout the years 2018-2021. Contact me if you have any questions or if you want any of these graphs made for your specific area!

West Seattle Real-estate zip code comparison of Median Sales Price

West Seattle Real-estate zip code comparison of Homes for Sale

Inventory throughout this year has remained low and is still low. This means that currently there are more buyers than sellers, making this an amazing time to sell!

West Seattle Real-estate zip code comparison of Median Days on Market

As you can see the days a listing spends on market tends to spike at the beginning of each year. This is mostly due to the fact that January and February are follow up months to an extremely busy Holiday season starting in November.

West Seattle Real-estate zip code comparison of Median Price Per Square Foot

If you have any thoughts or questions about this information or would like to talk, please call or text me at 206-550-1676. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information!

Check back for more updates throughout the year. Let’s talk about the market now in your neighborhood, your real estate goals, and whether or not this is a good time for you to list and sell your home. Call, text, or email anytime. I’m always here to help! Thank you,

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

www.JensRealty.com / 206-550-1676 / jen@jensrealty.com

With inventory and interest rates at historic lows it’s a great time to sell. And if you are looking to buy, I can help you with a smooth transition into a home you love! Click the photo to contact me, or you can call/text me at 206-550-1676! - Jen:)

Here are some links to more articles & videos.

These helpful links are provided by Eric Aasness. If you find great articles that you would like to share with me, please email those to me at jen@jensrealty.com. I am always working hard to be your source for real estate information! Thanks, Jen

Jennifer Suemnicht - Jen's Realty - RE/MAX Metro Realty, Inc.

Realtor / Broker

206-550-1676 / www.JensRealty.com