Best Tips in Seattle’s Real Estate Market

S H A W N B O D A Y  

S H A W N B O D A Y . O R G

Introduction 

In the last year or so, Seattle has become a tight seller’s market with a

low inventory and a common occurrence of multiple offers per house for

sale. Many buyers have described it as an all-out war trying to buy the

house they want. Owners who waited out the housing recession are

more than willing to engage in a bidding war in an attempt to get the

highest offer.

The following are some good real estate tips for both buyers and sellers

in the Seattle market. These real estate tips can also be applied to

many of the surrounding real estate markets like Tukwila, Renton, Sea-

Tac, Burien and more.

For Buyers

1. Decide what you can compromise on.

Of the three big factors: condition,

location and size, which one isn’t as

important as the other two? In most cases,

you’ll need to compromise on one of them.

2. Understand what you can actually

afford in this market. Because the real

estate market is so tough in these areas,

agents and sellers look at every detail of

competing offers, and larger down

payments often win out as many houses

are unlikely to appraise at the price being

offered.

For Buyers #2

3. Be patient and don’t give up too soon.

Losing the house you thought was perfect

can be a crushing disappointment at the

time, but it’s important to keep looking.

During the time you’re looking, you can

also save extra cash for a bigger down

payment.

4. Find out what the seller wants. Knowing

what constitutes the perfect offer to a

seller can be half the battle. In a seller’s

market, the buyer cannot make too many

demands on an offer and expect to win

the house if there are multiples. In some

cases, it’s simply the highest, in others, the

most cash, and sometimes they just want a

quick closing.

For Sellers

1. Price your house competitively. Most

properties in this market are getting

multiple offers, but if you price your house

too high to start, you may not get the right

bites.

2. Be clear about what you want and

where you won’t compromise. If you need

a quick closing or the ability to rent the

house for two months from the buyer,

make sure to have this communicated so

you can get an offer that meets your

conditions.

Listings dropped by 10 percent in Seattle’s

market in 2016, but demand remained high

and is expected to increase in 2017.