This past week the stock market had an unexpected drop the last two days in the week. There are many claims about the cause and many articles have been written about it. For home buyers it’s all good news. Instability in stocks will make some sellers more motivated to lower prices.
One of the main claims for the stock market decline is that Greece may not be able to pay obligations due on May 16th. They are getting additional funding from the European Community. Prolonging a default is better than just allowing it, but if you are in the market for a home you should be aware that more financial turmoil is ahead.
When you structure an offer today you should be at least 10% below market value. You should be very careful that what you buy as solid value. Buy properties that have good sized lots, are built well, and are in good shape. There is a lot to chose from and inventory will increase in the next two months.
Most sellers are already aware that they have missed the market place for this year, so be patient.
About David Losh
In 1984 I got my Real Estate license and worked in a small company called Advance Properties. The owner was extremely interested in Real Estate, building, and land development. Most of his work was concentrated North of Seattle. Since the 1970s I had worked for Real Estate agents in Seattle as a contractor, mostly preparing properties for rent, and sale.
After a few years my skill level increased considerably concerning land use, building code, and development practices. Escrow, and lending offices were housed at the Advance Properties building so it was easy to get involved in all aspects of Real Estate. It was very much a family owned, and operated business.
Over the years my Real Estate license has been at a variety of Real Estate companies, and offices. Nothing compares to those early years, or that sense of family. Real Estate has gotten to be corporate owned.
My hope with this blog is to share with you some of the things I've learned. If you have Real Estate needs, or want contractor help, I refer freely to what best suits you. If you should choose to work with me you'll find a great resource.
My Real Estate license is at Skyline Properties in Northgate. Skyline is a locally owned company that is a desk fee office. There is a wide variety of diverse agents. It helps me with some of the other projects that I have, and mentoring that I do, to be able to work with people from other cultures.
Here in Seattle we are close to Vancouver BC and are the gateway to China. Boeing has a great trade relationship with China, as does Microsoft have with all of Asia. We are a culturally diverse community, and it helps me to be invlolved.
