Tuesday, October 30, 2018

Savvy Buyer

Savvy Lane Offers 3 Buying Options. Save by using a Savvy Lane agent for your next home purchase. #savvybuyer  



Monday, October 29, 2018

SOLD

#savvyseller just saved $17,000 in listing commissions! 


Market Update

Home prices have finally hit a wall on the West Coast

Home sellers have had it easy over the last few years. Housing demand has risen along with the improving economy, and home builders have struggled to build at a pace that keeps up with that demand. The result was a shortage of housing inventory that allowed sellers to sit back and let buyers bid up the price of their home. Full Article 

But data from the last two months suggests that the housing market is entering a new stage, especially on the West Coast, where home prices have risen beyond most people’s capacity to pay. Instead of bidding wars, houses are sitting on the market longer, and price cuts are becoming more common. Buyers are starting to regain the upper hand.

“If we’re right, nationally, we’ve already entered the early stages of a buyer’s market,” writes Rick Palacios Jr. director of research at John Burns Real Estate Consulting. “Should supply levels cross above five months we’ll be watching for flat [or] possibly declining resale prices in some markets, especially where affordability is already very stretched.”

Housing supply constraints have been a primary factor in driving prices up, but there are signs this is changing. Data from the National Association of Realtors shows that “months of supply”—a leading indicator of housing supply that divides the number of active listings by the pace of sales—has ticked up year-over-year in the last few months after years of declines.

Housing supply constraints have been a primary factor in driving prices up, but there are signs this is changing. Data from the National Association of Realtors shows that “months of supply”—a leading indicator of housing supply that divides the number of active listings by the pace of sales—has ticked up year-over-year in the last few months after years of declines.


With the prices hitting a wall, list with Savvy Lane and save on listing commissions.

Just Listed

Full-Service listing in Ridgefield, WA
MLS# 18421711 | Offered at $439,000 | #savvyseller










Wednesday, October 24, 2018

Just Listed

Bright & Charming 1895 Farmhouse on almost an acre located in Maltby! Fully remodeled bathroom and gourmet kitchen.

Save $17,000 in listing commissions, like this savvy seller!

MLS# 1378751 | Offered at $565,000 | #savvyseller









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#SavvySeller

Savvy Lane set out to change a 100 year old industry. Technology and innovation have yet to change a commission structure that is completely outdated. Hundreds of companies have tried and only a handful have been successful. The Founders created a software platform where buyers and sellers have the tools to do-it-themselves with professional support, or be hands off with a local dedicated agent. By creating a process that is more transparent and streamlined, we are able to save time and money. This means we are able to adjust our fees to fit your budget with our tiered options. Today we are the #1 Flat Fee MLS real estate provider on the West Coast.


Mortgage Rates Fall Slightly

Long-term U.S. mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates.

Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages declined to an average 4.85 percent this week from 4.90 percent last week.

Last week's average was the highest level for the benchmark rate since spring 2011. A year ago, it stood at 3.88 percent.

The average rate on 15-year, fixed-rate loans eased to 4.26 percent this week from 4.29 percent last week. Full Article


Savvy Lane has a great buyer program that offers cash back.

We Did It, Again

We love what we do, and it shows! Another satisfied #savvyseller


Markets In Hot Cities Are Slowing, But Prices Expected To Rise In 2019

A recent report showed that some of the nation’s hottest housing markets are beginning to slow down. Slower home sales have been reported in housing markets like Denver, Oakland, Seattle and San Jose.  But despite this trend, the latest real estate forecasts suggest that home prices in most of these “cooling” markets will continue to climb in 2019. Full Article 

Hot Housing Markets Are Slowing Down

Is a cooling trend coming to the U.S. real estate market? In some cities and metro areas, the answer appears to be yes. In fact, cooling trends are being reported for some of the nation’s hottest housing markets, like Denver, San Jose and Seattle.

According to a recent report published by Redfin, a nationwide real estate brokerage, the markets with the fastest home sales during the spring of 2018 are now experiencing a significant slowdown.

The company based its analysis on the speed at which homes sell within a particular area. In some of the hottest and fastest-moving real estate markets (like Seattle and San Jose), the average number of days on market has dropped considerably. This suggests a softening of demand in those areas.

To quote the report:  “…this spring [2018] there were fourteen metro areas around the country where half or more of the homes that were listed for sale between March 5 and April 29 went under contract within two weeks. By mid-September, every single market saw its share of homes selling that quickly fall to below 50 percent, with spring’s fastest markets, namely Seattle and San Jose, California, seeing the largest declines, falling by more than 35 percentage points since spring and over 20 percentage points from a year earlier.”

Sellers Dropping Their Asking Prices

Price reductions are also becoming more common in the nation’s hottest housing markets, like Denver, Seattle and San Jose. Sellers in these and other areas are realizing there’s not the same level of demand as there was in 2016 or 2017. Homes are staying on the market longer.

Forecast: Home Prices Expected to Keep Rising

Despite the slowing sales cited above, hot housing markets like Seattle, San Jose and Denver still tend to favor sellers over buyers. Strong demand and limited inventory will keep these markets highly competitive for the foreseeable future.



Sell your home with Savvy Lane in any market and save on commissions.

Tuesday, October 23, 2018

Sell your home the Savvy Way

Savvy Lane set out to change a 100 year old industry. Technology and innovation have yet to change a commission structure that is completely outdated. Sell your home the Savvy Way #savvyseller