🏠 Rates ease, Seattle buyers were BUSY

The big news last week was the Fed holding their rate steady. Of course, mortgage rates do their own thing and so after seeing mortgage rates at an all-time high for the year last weekend, this weekend they’ve dropped to their lowest point in a month. This was good news for the 250 buyers in Seattle last week who put a record number of homes under contract (for the year). …It will be interesting to see if last week was the peak of the home-buying season, it just might have been!

This past week we were busy helping a buyer beat out the competition for a home in Pigeon Point, counseled a buyer to walkway from a home they loved but the inspection revealed a money pit, and gave keys to a buyer we negotiated a $50k discount for (same floor plan two floors down sold for +$400k in 2020! If you’re looking for a deal on a condo, hard to beat the pricing at Nexus right now.)

It was a (rainy) opening day of boating season this weekend. Opening day also (unofficially) marks the start of floating home season and we saw a few more hit the market this past week. Here are all the floating homes and houseboats for sale including our own slip 11 at Mallard Cove.

— Matt Goyer, Land Cook & team

LINKS

• A bit more detail about Bellevue Club expansion, with 266 condos in two towers (DJC) - Check out our guide to the Bellevue Club’s Residences

• Why is Seattle’s Third Avenue not recovering? It just might be the buses (Seattle Times) - Notably, First Light is putting their residential entrance on Virginia and not 3rd

• 3 spectacular Seattle-area homes designed for multigenerational living (Seattle Times) - Eye candy and inspiration!

NEW LISTINGS BY WEEK
New listings near record highs

HOMES GOING PENDING BY WEEK
Record number of homes go pending in Seattle

HOT NEW LISTINGS
Eye candy

THAT’S A WRAP
Here are 2 ways we can help

1. Thinking of buying? Now is the time, this is peak home-buying season. Hit reply, we’re happy to help. Or join our next home-buying class.

2. Thinking of selling? We strongly advise selling before Memorial Day when buyer interest for the season typically peaks. Hit reply, we can handle everything start-to-finish.