Monthly market snapshot by NWMLS
Make the right decisions and avoid costly mistakes! Housing markets are localized–not just the counties or cities, but also specific neighborhoods. Having accurate data is a crucial starting point. You then have to figure out how best to use that data to your advantage. The median price of a house is well above a million […]
Washington housing market in 2025
Housing markets are localized. This article focuses on the Western Washington housing market in 2025, particularly the Eastside housing market. There was notable activity and a competitive environment for buyers and sellers during 2024. Even though the mortgage lending rates were significantly higher throughout 2024 than at the start of 2023, there was a slow […]
Critical information for homebuyers and home sellers
This article outlines specific changes that Northwest Multiple Listing Service (NWMLS) is implementing by revising its forms and Rules on buyer brokerage compensation and the options available to sellers. These changes clarify and simplify these provisions. Here is that Critical information for homebuyers and home sellers. Real Estate transactions involve a great deal of paperwork. […]
NWMLS will not “opt-in” to NAR’s Proposed Settlement Agreement
NWMLS Position on NAR Settlement – Updated Information We have previously written about the proposal of the National Association of Realtors (Broker Nadir has never been a member of this association) for a settlement in a much-publicized lawsuit. BN Real Estate has consistently upheld a policy of unwavering transparency, adhering to industry best practices, and […]
Update: National Association of REALTORS®
On March 15, 2024, the National Association of Realtors and the Department of Justice agreed upon a proposed settlement. Below is the statement, directly quoted, as put out by the Northwest Multiple Listing Services. Additionally, please note two crucial points. Broker Nadir and BN Real Estate has never belonged to the National Association of Realtors. […]
2023 Housing Market in Western Washington by the numbers
Northwest MLS just released its Annual Report on sales and listing activity for 2023 within the 26 counties it covers in Western Washington. As the old saying goes, all real estate is local. This article contains numbers about the 2023 housing market in Western Washington only. An accurate market snapshot will help you stay better informed. Whether […]
Real Estate Brokerage in Washington State
Real Estate Agency Law governs all real estate brokerages in Washington State. For the first time since 1997, the state legislature has made significant changes to this law that go into effect on January 01.2024. These changes are made to strengthen already robust consumer protections provided by the Department of Licensing. All licensees must provide […]
NORTHWEST MLS’S members provide buyers and sellers with choices, control, and complete transparency
Northwest MLS is arguably the best MLS in the country. The nearly $1.8 billion jury verdict in a home seller’s class action lawsuit in Missouri against the National Association of Realtors and large brokerage franchisors has consumers and brokers in Washington state asking questions about residential real estate brokerage. The jury found that the defendants […]
Strategies for pricing your home right
In a recent article, I wrote about the importance of pricing your home right before you put it on the market. Pricing your home right is crucial for a successful sale. This article will help you with two key aspects: How to price your home right. How to promptly adjust that price if needed.
Homebuyers want a readily livable house
Today’s homebuyers prefer readily livable houses. They want a home that not only looks good but also where everything functions perfectly. They want to be able to bring their stuff and start enjoying their new home. It is that simple.
Strategies for selling your home in 2023
There is no denying that the housing market has shifted across the country—more in some places than others. But it is still an excellent market for homebuyers and sellers. This article is about strategies for selling your home. It will focus on preperations and adjustments home sellers’ must make to sell their homes quickly. Most […]
The housing market––spring 2023
The housing market has been adjusting since the Fed increased the interest rate for the first time about a year ago. Homebuyers have, begrudgingly, become accustomed to the current rates, which remain historically low. The housing inventory also remains low. The housing market in the spring of 2023 is comprised primarily of serious buyers and […]
The housing market for home buyers
Most experts agree that the robust housing market since 2016 came to a sliding stop in early 2022. However, they use various levels of sugar-coating in their statements. It happened subtly but firmly. By October 2022 end the number of homes sold had dropped by about 30%, compared to one year ago, according to the […]
What’s next for our housing market?
The old Chinese saying ” may you live in interesting times ” applies to our current housing market. We have experienced double-digit price increases in home values in recent years. A mad rush to buy homes during the pandemic, combined with the homes being in short supply and near-zero interest rates for mortgages, inflated house prices by […]
Three Things to Remember When You Hire Your Real Estate Agent
Are you looking for a real estate agent? Then you should consider a few things to ensure your real estate agent is professional and worth your penny. Sometimes, hiring a real estate agent is an easy process but sometimes, it is not because of multiple choices and lack of time for profile verification. In this […]
Has The Seller’s Real Estate Market Become Buyer’s Market?
Is the seller’s real estate market a buyer’s market? The straight answer is YES, the seller’s real estate market has become a buyer’s market! There are many reasons for this phenomenon, but the main one is that buyers can no longer rely on their down payment. With low-interest rates and months-long waits for financing, sellers […]
Wondering about the current real estate housing market?
The current real estate housing market has been transitioning to a buyer’s market since about May 2022. At the same time, due to mortgage lending rates climbing high and quickly, it has squeezed out the essential segment of home buyers. In 2021, one could buy a house worth $759,000 with 20% down and a monthly […]
Has The Washington Housing Market Shifted?
The Washington housing market is booming due to increased demand for housing. Tech giants such as Microsoft and Amazon have been here for decades. Still, in recent years, companies like Google and Facebook, amongst numerous others, have set up their operations here as well. This influx of high-paying jobs has led to a spike in […]
30/30/3 Rule to Follow Before Buying a Home
Whether it is a buyer’s market or seller’s market, if you want to buy a home, you must know and follow some rules. Following rules is not always that simple yet not much difficult if you tried to do it! So, let’s dig in to know the must-follow rules before buying a home.
Homebuyers Feeling Squeezed by Recent Increase in Mortgage Rates
The US mortgage market is now under increased stress recently as demand for homes is softening, primarily due to the rising interest rates for home loans. There has also been a slowdown in the number of homes sold in recent months.
Get A House Inspection Before You Put the House on The Market
Are you planning to sell your house? Consider getting your house inspected before putting your house on the market. When a licensed home inspector conducts a house inspection, he will examine certain home components and then produce a detailed report covering their findings. A typical inspection lasts two to three hours, and you should be […]
Five Things to Keep in Mind When Selling Your House
Every homeowner wishes to sell their house fast in a hassle-free way! Of course, it is possible but requires minimum effort to make it happen. Selling your house depends on various factors that you can control, and some are uncontrolled, like the local housing market or real estate market shifts. So, when you plan to […]
BN Real Estate Broker Advantages
BN Real Estate Broker Advantages The real estate industry is going through significant changes. It is progressing and evolving. Zillow, Redfin, and CoStar –– will continue to increase their influence on the industry. As profit margins shrink, pressure on other brokerages, large and small, will increase. Brokerages will pass this pressure on to individual brokers. […]
Are Homes for Sale Still Receiving Multiple Offers?
Receiving multiple offers for “Homes for sale“ is still happening all around the country, although this trend may be slowing down in some states. Multiple offers are usual when real estate markets substantially favor home sellers. In rare situations, it can even be odd to not have multiple offers.
Seattle’s chaotic and robust real estate market
How robust is Seattle’s real estate market? Consider these recent stats. The median sale price of a home in Seattle rose by 26.1% from the previous year. It was $737,800 at the end of May 2021. Almost seventy percent of properties in the Greater Seattle area sold for considerably higher than the asking price. On […]