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 […]
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 […]
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 […]
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 […]
How to get your house ready to sell for the top dollars that the market will support?
If you pay any attention to the housing market news, you know that we are currently amidst one of the strongest sellers’ markets. It has slowed down a bit in recent weeks. It is difficult to determine if it is the usual summer slowdown or if the market has run out of steam. This article […]
What is my home worth?
Live graphs give you current data What is my home worth? This question is the first step when people start to think about selling their house. Having the most current and up-to-date data about recent activity is crucial to answering this question. This blog post is unique. It includes live graphs that show you the […]
Home Buyers and Home Sellers square off!
Our Real Estate market is vibrant, complex, and nuanced. Savvy buyers and sellers know that our real estate market is vibrant, complex, and nuanced. At BN Real Estate, we follow a nine-point home-buying system to serve our “buyer clients.” You can learn more specifics about this extremely effective approach here. For an in-depth understanding of […]
Buying a home in 2021
Buying a home The current sentiment that the real estate market is crazy is the aptest description. Buying a home in 2021 has become a very different experience. It does not serve homebuyers very well, who feel helpless as the market demands compel them to give up their legal protections. There is no way to predict when […]
Greater Seattle 2020 year-end synopsis
December 2020 stats The demand for homes remains on the rise. There was a substantial 39.3% increase in new homes coming on the market during December 2020, compared to the same month a year ago, for the entire NWMLS system. King County had more than a 60% increase in new listings compared to a year […]
Pre-Approval is better than pre-qualification!
Prequalifying for a mortgage loan is pretty easy. Yet, It’s practically purposeless. Having a pre-qualification letter just indicates that you discussed your financial situation with someone at the mortgage lender’s office. It indicates that you did not provide any documentation. And the lender didn’t verify any of the verbal information that you gave them. It […]
COVID19 Impact on Real Estate for 2020-21
Real Estate and COVID-19 COVID-19, the 100-year flu Pandemic, continues to severely impact our daily lives and economies around the Globe. Several clients and friends have asked about how it might affect the residential real estate market in months to come. In this article, I will provide my best understanding of what is likely to […]
The housing market has shifted a little!
Sellers are embracing the concept of moderation when setting prices! According to Northwest Multiple Listing Service (NWMLS), Homebuyers around Washington state are making their way back to the market. They are hoping to take advantage of improving inventory, attractive interest rates, and more approachable sellers. Moderating sales prices of homes in Washington State are caused […]
Market Realities and What to Expect in 2018
Seller’s market Market Realities and What to Expect in 2018: Our fast-paced seller’s market is leaving everyone unhappy. None of the parties engaged in a real estate transaction, like the current market. Not the home sellers, not the home buyers, and probably not real estate brokers. Each has its very own valid reasons. Most home […]
How to research the best comparable properties?
Research Comparable homes Everyone involved in buying and selling a home has an agenda. Let’s say a home is for sale in Bellevue for $700,000. The seller is hoping to get the highest possible price. The buyer is hoping to get the lowest possible price. The Real Estate agents are depending on the commission from […]