Bellevue, WA Real Estate Update

The east side of Bellevue, WA real estate has been a hot spot for King County residents to relocate as well as people from out of the area. King County as a whole has been getting thousands of new residents daily for the past couple years thanks to our rapidly growing economy and new job opportunities. Of course with this influx of people, means an influx in demand for housing. Living on the East side gives you access to great schools, city amenities and all the outdoor recreation PNW locals love. Bellevue, WA real estate has never been more sought after making this market very competitive. The use of a Bellevue, WA realtor has never been more important. So how is our local housing market looking here on the East side of Bellevue? Check it out.

Both the average and median sold price for Bellevue, WA real estate is up! This is great for sellers as it means there home is likely worth more than it was compared to this time last year.  The average is up 20.1% at $761,808 while the median is up 16.7% at $700,000. The average price per square foot is up 16.9% at $374 and the average percentage of list price is at 105.9%. If you are a buyer, this percentage basically gives you some insight on your negotiation power. It also means, on average, homes for sale in Bellevue, WA are getting over asking. Now let’s talk about the inventory. New listings are down 0.7% while homes for sale in Bellevue, WA are down 26.1%. Pending sales are up 1.8% and closed sales are down 0.4%. Of course the month supply is currently only 0.80. In order for a market to be balanced, there needs to be a 6 month supply. Obviously, we are still very much in a seller’s market, making the use of a qualified Seattle, WA realtor absolutely crucial for success. Especially since days on market are at a 7 for the median and 17 for the average. Homes for sale in Bellevue, WA are moving FAST! If you are thinking of buying or selling in this area and are looking for an experience Bellevue, WA realtor, give me a call. I would be happy to help!


Posted on September 1, 2017 at 3:22 pm
Rayme Teders | Posted in Uncategorized |

Tam O’ Shanter Real Estate Update

If you have been thinking of listing or buying Tam O’ Shanter real estate, knowing what is happening in our local market makes all the difference. As a buyer, you can use this info as a guide for an offer price while a seller can rest assured they aren’t listing too low or too high, both of which can have consequences. Of course, using a qualified Tam O’ Shanter realtor in both scenarios is crucial for a good experience. They not only have good working relationships with other Tam O’ Shanter realtors, but they can help you navigate any bumps that may occur. So how is our local neighborhood doing? Check it out!

Both the median and average sold price for Tam O’ Shanter real estate is up! Which makes this a great time for sellers to list. The average is up 20% at $848,867 and the median is up 13.8% at $740,000. The average price per square foot is also up 13.2% at $378. The average percentage of list price (buyers, this gives you some insight on your negotiation power) is up 2% at 105.5%. Which means, on average, Tam O’ Shanter real estate is getting over asking. There is good news for buyers as new listings are up 9.2%. Unfortunately the amount of total homes for sale is actually down 5.2%. Pending homes are up 10.7% and closed sales are up 5.7%. The median days on the market is 7 and the average days on the market is 19 which means homes are selling quickly. This is no surprise as the current month supply is at a 1. In order for a market to be balanced, there needs to be a 6 month supply. If you are looking for a Tam O’ Shanter realtor, let me know. I would be happy to assist you in the process of listing or buying a home for sale in Tam O’ Shanter.


Posted on September 1, 2017 at 3:04 pm
Rayme Teders | Posted in Uncategorized |

Tam O’ Shanter Real Estate Update

Summer is half way over but the Tam O’ Shanter real estate market isn’t showing signs of cooling down just yet. Whether you are buying or selling (or thinking about it), knowing the current market conditions helps you navigate the transaction successfully. As a seller, it ensures you don’t leave money on the table by pricing too low. As a buyer, it helps guide you so that you don’t overbid or underbid and offend the seller. Of course, making sure you are working with a qualified Tam O’ Shanter realtor prevents these scenarios from happening, but regardless, it is important to know what is happening locally. So how is Tam O’ Shanter real estate doing? Let’s take a look!

When looking at the stats from the NWMLS, both of the sold prices have gone up, which is great news for sellers as this means they can get more for their home. The median sold price is up 13.1% at $707,000 while the average sold price is up 23.9% at $836,306. Also up are new listings with a 6.5% increase which is great news for buyers. Pending sales are up 15.5% and closed sales are up 4.5%. The average percentage of list price (which, in short, determines your negotiation power) is at 104.9%, which means that most homes are getting over asking. Also, great news for sellers! They don’t call it a sellers market for nothing, right? Speaking of, the month supply is currently at 1.1. In order for a market to be considered balanced, there needs to be a 6 month supply. Obviously, seller’s still have control of the market and we need more inventory in order to be a bit more balanced for buyers looking to purchase Tam O’ Shanter real estate.

If you are a buyer, working with a Tam O’ Shanter realtor allows you to have first dibs on homes that are about to hit the market, or homes that are for sale but not listed. In a market that is competitive like King County, it is so important to make sure you have a qualified local advocate working on your behalf. As the top Tam O’ Shanter real estate agent since 2015, I would be happy to help you navigate the real estate process, as a buyer or a seller. Have questions? Give me a call!


Posted on July 26, 2017 at 8:20 pm
Rayme Teders | Posted in Uncategorized |

Tam O’ Shanter Real Estate Update

If you have been thinking of buying or selling real estate in Tam O’ Shanter, knowing the current market conditions is crucial to a successful sale, regardless of whether you are buying or selling. As a seller, knowing what is happening ensures you don’t overprice your Tam O’ Shanter real estate and it sits and grows stale. If you are buying, you can rest assured that you aren’t overpaying for real estate in Tam O’ Shanter. With the inventory at an all time low, buyer demand at an all time high, prices continue to go up and this month is no different. Take a look!

Both the average and median home sales price increased compared to last month and last year! The average went up 20% and is now sitting at $813,675 while the median is up 12.6% at $690,000 for Tam O’ Shanter real estate. Closed sales went up 7.9% while pending sales went up 15.6%. The month supply is still incredibly low at 1.1. In order for a market to be balanced, we need a 6 month supply. A 1.1 month supply for real estate in Tam O’ Shanter obviously makes it very clear that our current inventory is very limited. As a seller, this basically means that your chances of listing and getting multiple offers very quickly are incredibly high. As a buyer, this essentially means that if you want to lock in an offer on real estate for sale in Tam O’ Shanter, your best bet is to work with a qualified local realtor.

For more information on real estate for sale in Tam O’ Shanter, give me a call!


Posted on June 30, 2017 at 9:31 pm
Rayme Teders | Posted in Uncategorized |

Bellevue, WA East Real Estate Update

Good news for sellers in Bellevue, WA! The monthly year to year market statistics are in from the Northwest Multiple Listing Service and for the most part, are very positive. As a Bellevue real estate specialist, there are certain categories I follow closely that allow me to keep my finger on the pulse of the market.

If you are thinking of selling your Bellevue, WA real estate, now is a fabulous time. Both the median AND average home price were up compared to this time last year. The median is at $660,000 (up 16.8% compared to last year) and the average was up 17.1% compared to last year at $718,760. This means that if you have been thinking of selling your real estate in Bellevue, WA, the value has gone up compared to both this time last year AND just last month. Percentage of list price is also up 2.8% at 102.8% which means homes are going for over the asking price. In my experience with selling real estate in Bellevue, WA, they are usually receiving offers within days of being on the market and have an accepted offer in less than a week and a half. In fact, the stats prove that the median amount of “Days on the market” (the time a home for sale in Bellevue, WA goes from active to pending) is 7 days.

Pending sales were also up 0.6% and closed sales were actually down 3.6% which is due to the low inventory. Buyers are having a hard time getting into a home for sale in Bellevue, WA due to the low inventory of homes available. Both the median and average price per square foot is up. The median is up 13.3% at$341 and the average is up 14.2% at $354.

Now let’s discuss the stat that has decreased. The month supply is at a low 0.90!! Anything below 4 is considered a sellers market. This is good news for sellers as it means they have control of the market. Buyers looking to get into our desirable neighborhood on the other hand have their work cut out for them. As a Bellevue, WA real estate specialist, my biggest suggestion for buyers looking to tap into the market is working with a qualified Bellevue, WA Realtor. If you are looking to buy or sell Bellevue, WA real estate, give me a call. I would be happy to assist!


Posted on June 1, 2017 at 2:12 pm
Rayme Teders | Posted in Uncategorized |

Tam O’ Shanter Real Estate Update

Good news for sellers in Tam O’ Shanter! The monthly year to year market statistics are in from the Northwest Multiple Listing Service and for the most part, are very positive. As a Tam O’ Shanter real estate specialist, there are certain categories I follow closely that allow me to keep my finger on the pulse of the market.

If you are thinking of selling your Tam O’ Shanter real estate, now is a fabulous time. Both the median AND average home price were up compared to this time last year. The median is at $690,000 (up 12.6% compared to last year and $5,000 just from last month!) and the average was up 20.4% compared to last year at $676,369. This means that if you have been thinking of selling your real estate in Tam O’ Shanter, the value has gone up compared to both this time last year AND just last month. Percentage of list price is also up 2.8% at 102.8% which means homes are going for over the asking price. In my experience with selling real estate in Tam O’ Shanter, they are usually receiving offers within days of being on the market and have an accepted offer in less than a week and a half. In fact, the stats prove that the median amount of “Days on the market” (the time a home for sale in Tam O’ Shanter goes from active to pending) is 7 days.

Pending sales were also up 14.2% and closed sales were up 6.3%. Both the median and average price per square foot is up at around 10% and both numbers are around $350.

Now let’s discuss the stat that has decreased. The month supply is at a low 1.1. Anything below 4 is considered a sellers market. This is good news for sellers as it means they have control of the market. Buyers looking to get into our desirable neighborhood on the other hand have their work cut out for them. As a Tam O’ Shanter specialist, my biggest suggestion for buyers looking to tap into the market is working with a qualified Tam O’ Shanter Realtor. I personally have connected more off market buyers and sellers in the last two years than any other Tam O’ Shanter realtor. If you are looking to buy or sell Tam O’ Shanter real estate, give me a call. I would be happy to assist!


Posted on June 1, 2017 at 2:04 pm
Rayme Teders | Posted in Uncategorized |

5 Offer Mistakes To Avoid When Buying

If you are buying Tam O’ Shanter real estate in this current market, you may feel like you are hitting some road blocks. Low inventory can be a frustrating obstacle for buyers. Whether you are dealing with being outbid or a brand new listing goes pending before you can even see it, be sure to check out these tips if you are not having luck with purchasing a home for sale in Tam O’ Shanter.

Don’t delay

This is not the time to move slowly. If you take your sweet time when trying to buy a home for sale in Tam O’ Shanter, you could lose out on the perfect home for you. Time is of the essence in this market so get everything ready and try to be the first one in the door after a listing hits the market.

Don’t submit a lowball offer

Lowballing can back fire in a big way, regardless of the market. Our current conditions are resulting in over asking bids and multiple offers so this is not the time to play hard to get. Make an offer based on market value, otherwise you could offend the seller and turn them off completely from countering. If you are serious about buying Tam O’ Shanter real estate, be respectful of the sellers and discuss a good offer with your Tam O’ Shanter realtor before submitting.

Don’t make an offer for the pre-approved amount

Speaking of offers, smart buyers know that getting pre-approved is the best way to prove to a seller that you are serious. However, using the document to come up with an offer amount could work against you. In this market, seller’s want to know that they have wiggle room. If your offer is the exact pre-approval amount, they may feel like they have no room for negotiations.

Don’t waive inspection

Yes, waiving as many contingencies as possible is a great way to get your offer on Tam O’ Shanter real estate offer accepted. However, the inspection should not be one of them. You want to make sure the home doesn’t have a bunch of expensive repairs lurking below the surface that could cost you later on. When you waive inspection, you also run the risk of losing your earnest money if you decide to back out of the deal later.  The only time this could be acceptable is if you are a maintenance expert or a contractor and can do the work or repairs for cost. Even then, think long and hard about this one, and as always, consult your Tam O’ Shanter realtor.

Don’t misrepresent yourself

If you are serious about buying Tam O’ Shanter real estate, make sure you look great in the eyes of the seller. This market is competitive, and sellers usually prefer a buyer who is going to be the easiest to do a deal with. So be sure to avoid being too picky, making high maintenance requests, questioning the seller’s décor decisions and overall being hard to deal with.

As always, be sure you have a qualified Tam O’ Shanter realtor working on your side. Having a long time, local expert working on your behalf ensures you not only have the best representation, but also the upper hand in a multi offer situation. For more information on real estate in Tam O’ Shanter, give me a call.


Posted on May 29, 2017 at 8:58 pm
Rayme Teders | Posted in Uncategorized |

Buying Real Estate? Mortgage Rates Historically Low Yet Again!

If you are in the market to buy or sell Tamo O’ Shanter real estate, you likely are keeping an eye on the mortgage rates. After all, even the littlest change can impact your buying power. Interestingly, the past couple months saw hikes as the Federal Reserve raised the interest rates. This created pressure for buyers as they were already feeling the stress of being in a sellers market. Add in a higher mortgage rate and some folks were left wondering if renting was going to be their only option for the next year or two.  If you are in the market to buy Tam O’ Shanter real estate, the latest change in mortgage interest rates is likely good news. For the first time in months, rates are back down below 4%. This drop comes after experts predicted a hike in interest rates. If this news causes you to feel like you can press pause on buying real estate in Tam O’ Shanter, don’t get too comfortable. There are two more interest rate hikes on the horizon for 2017, so getting in on a historically low rate again isn’t expected to be the standard for the next year. Of course, inventory is a struggle for several buyers out there as this particular Bellevue, WA real estate neighborhood has a month supply of 0.9. Which means even if you locked in a historically low rate, you will still have your work cut out for you this spring and summer season as homes are currently getting multiple offers within days of being listed. As the local Tam O’ Shanter Realtor, I am aware of off market homes and have been able to successfully connect buyers and sellers without the hassle of a bidding war and extra competition.

You may be wondering what exactly is going on that would cause the rates to drop below 4% again. In a nutshell, while mortgage interest rates are influenced by the short term interest rates set forth by the Federal Reserve, they are mostly impacted by the 10 year U.S. Treasury bond market. Investors consider mortgages and bonds safer in comparison to the stock market. When stocks increase, investors get nervous and put their funds into bonds. When bonds are up, mortgage interest rates go down. Currently, the U.S. stock market keeps climbing so investors are looking for safe places to put their money.

The littlest change in an interest rate can be a big change for someone looking to buy Tam O’ Shanter real estate. It changes how much you can spend, especially if your budget is strict. When you have a lower monthly mortgage rate, you have a lower monthly payment. As there is no way to predict how long the existing rates will last, it is best to take advantage of the current opportunity soon. If you are looking to buy a home for sale in Tam O’ Shanter, call me and I will happily guide you through this exciting process.


Posted on May 1, 2017 at 6:44 pm
Rayme Teders | Posted in Uncategorized |

Tam O’ Shanter Real Estate Market Update

Good news for sellers in Tam O’ Shanter! The monthly year to year market statistics are in from the Northwest Multiple Listing Service and for the most part, are very positive. As a Tam O’ Shanter real estate specialist, there are certain categories I follow closely that allow me to keep my finger on the pulse of the market.

If you are thinking of selling your Tam O’ Shanter real estate, now is a fabulous time. Both the median AND average home price were up compared to this time last year. The median is at $685,000 (up 13.7% compared to last year and $20,000 just from last month!) and the average was up 19% compared to last year at $806,703. This means that if you have been thinking of selling your real estate in Tam O’ Shanter, the value has gone up compared to both this time last year AND just last month. Percentage of list price is also up 2.9% at 102.9% which means homes are going for over the asking price. In my experience with selling real estate in Tam O’ Shanter, they are usually receiving offers within days of being on the market and have an accepted offer in less than a week and a half. In fact, the stats prove that the median amount of “Days on the market” (the time a home for sale in Tam O’ Shanter goes from active to pending) is 7 days.

Pending sales were also up 19.8% and closed sales were up 11.8%. Both the median and average price per square foot is up at 11.5% and both numbers are $350.

Now let’s discuss the stat that has decreased. The month supply is at a low 0.9. Anything below 4 is considered a sellers market. This is good news for sellers as it means they have control of the market. Buyers looking to get into our desirable neighborhood on the other hand have their work cut out for them. As a Tam O’ Shanter specialist, my biggest suggestion for buyers looking to tap into the market is working with a qualified Tam O’ Shanter Realtor. I personally have connected more off market buyers and sellers in the last two years than any other Tam O’ Shanter realtor. If you are looking to buy or sell Tam O’ Shanter real estate, give me a call. I would be happy to assist!


Posted on May 1, 2017 at 6:32 pm
Rayme Teders | Posted in Uncategorized |

What To Expect When You Are Inspecting

Your home for sale in Tam O’ Shanter has an offer-congrats! However, don’t get too carried away. After all, you have another step to get through: the inspection. This is a contingency that is included in almost all offers. This basically allows buyers to back out of the purchase without losing their earnest money if the inspection comes back with a negative report. If a buyer really wants to buy your house, this can open you up to negotiating repairs or selling your Tam O’ Shanter real estate for less than you had originally anticipated. This is a big part of the home buying process so it is crucial that you prepare for this step.

First, you should know that in almost all situations there will be an inspection. A lot of sellers are actually doing pre-inspections prior to listing their home for sale in Tam O’ Shanter so that they know what condition their home is in and can make changes accordingly. This is also a benefit to buyers as it means the inspection is already on file and removes this step from the process. Now if your Tam O’ Shanter real estate is going to be a tear down for the buyer, they may not care about an inspection and forgo it in the hopes of having their offer considered the most ideal in this competitive market. However, a buyer who is planning on living in your soon to be former home will want to know what they are getting themselves into. Since the home inspection results can give buyers peace of mind and a possible bargaining tool, chances are they will not be skipping this step.

So what exactly happens at a home inspection? Well, an inspector will come to your home for sale in Tam O’ Shanter and look at everything. Their checklist has 1,600 items. So long as they can physically get to it, anyway. Here are the areas they will be looking at and why:

  • Structure: Inspectors want to make sure the foundation has integrity and isn’t rotting
  • Grounds: Standing water, faulty grading, sick or dying trees and shrubs, crumbling paths and walls are all things that will eventually need to be handled so this will be checked out.
  • Roof: This area will be inspected for defects in shingles, flashing, and fascia, chimneys and skylights as well as loose and hanging gutters.
  • Exterior: If your real estate in Tam O’ Shanter has cracks or rot, dents or bowing in vinyl, blistering or flaking paint, your new buyers will likely want this fixed.
  • Window, doors, trim: Inspectors will look for rotting frames, peeling caulk, damaged glass.
  • Interior rooms: These rooms will be inspected to make sure there are no water-stained ceilings and that there is proper insulation and sufficient heating vents.
  • Kitchen: This room will be checked out for proper venting, no leaks and that all cabinets and fixtures operate correctly.
  • Bathrooms: Toilets flushing properly, shower pressure, and securely fastened tubs will be the point of focus in this room.
  • Plumbing: Drains flowing properly; water has the right temperature and pressure will all be checked.
  • Electrical: This is huge. Electrical is not only a spendy fix, but can be dangerous if left unrepaired. Inspectors will make sure electrical panels, light switches and outlets are working properly.

So what can you do in order to pass the home inspection short of making a bunch of repairs yourself? Which we should note, you should not do at all unless you actually know what you are doing.  There are a few ways to prepare.

Clean and de-clutter your home. You have to do this before you list anyway. The inspector isn’t there to look at your things, however if you remove the clutter you make their job easier by allowing quick access to the spaces they need to get to.  Plus this allows you to figure out what you are going to keep (and pack!), toss, donate, etc.

Get all your paperwork together. This is another thing you should do for the sake of your buyers. For any repairs or maintenance you have done at your home, create a binder or a folder with all the paperwork. This proves you have handled any problems that have come up as well as any warranties that come with current items in your home.

Allow easy access. This is huge regardless of if it is for the buyer or the inspector. Whether it is a shed or a garage, have complete transparency and don’t keep anything off limits.

Other things to consider when getting a home inspection is to leave. Let the inspector do their thing. If you need to point out some previous repairs or some trouble areas, do so before they get started. Also, don’t take anything personal. Real estate in Tam O’ Shanter is likely to have some things come back. After all, your home is a well loved home which can result in some wear and tear over the years. Buying and selling Tam O’ Shanter real estate is a business transaction between both the buyer and the seller. The seller wants the most money while the buyer wants to spend the least. Don’t get upset with the inspector if the list of fixes comes back longer than you expected. Hash it out with your Tam O’ Shanter realtor and the buyer. A bad inspection report isn’t a deal breaker, but this is where a qualified Tam O’ Shanter realtor earns their paycheck. They will know how to handle the report, which repairs are necessary and which ones could be fixed with a simple price negotiation.

For more information on real estate in my neighborhood, give me a call. I would be happy to share the current market conditions with you.


Posted on March 31, 2017 at 9:42 pm
Rayme Teders | Posted in Uncategorized |

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