Karen Mcknight

Victor,

A short sale would have to be factored into the comparables, because it is a sale in the area. An expereinced, knowledgeable agent can do a detailed report and statistical analysis, which would include all the comparables in the area. You have to look at Active, Pending and Closed Sales to determine your best pricing strategy. The short sale is one of the comparables.

A key factor in in determining how aggressively to price is the current absorption rate for your neighborhood. On my website, http://www.mcknightrealty.com, under the button "Market Statistics', I do have a link to graphs that show the current absorption rate. When absorption is low, you have to price very aggressively to sell.

I notice you are also planning to buy. If you are planning to move to a larger home or a more expensive area, today's market is the best we may see in this century. Because if prices have dropped 10% (to use round numbers), that means a $30,000 drop on a $300,000 property and a $60,000 drop on a $600,000 property. This is the very best time to "move up". - Wed Oct 29 2008, 13:28

Dear Tasha,

You asked, "What do I do next?" To give you a good, knowledgeable answer that best serves you, the person you decide to hire as your real estate consultant needs to know the answers to some thought provoking questions.

Most importantly, we need to know what short term problems do you want to solve and what long term goals do you want to achieve? What does your ideal home look like? I recommmend that you get together with an accomplished, caring real estate consultant, who can help you gain clarity.

One step that is crucial to your successful purchase is to become pre-approved with a competent lender. There are some incredible programs now for first time home buyers (anyone who has not owned a home within the last three years!). Any good real estate consultant can refer you to an excellent lender. Real estate agents normally know dozens of lenders to whom they can refer you, based on your individual needs. On my website, http://www.mcknightrealty.com , under About the Area / Service Providers, I have recommended several lenders.

Your next best step is to set up a Buyer Consultation with a real estate consultant, who can lead you through the intricate process of purchasing real estate. I wish you the best in your real estate investing process! - Sun Oct 26 2008, 14:05

Dear Heinrich,

I would look forward to speaking with you about youre referral. I have worked the Eastside of Seattle for over 20 years and am a knowledgeable, skilled, caring associate broker. Belleuve is the center of the geographical area in which I work.

I invite you to visit my website: http://www.mcknightrealty.com . You will find all my contact information there. - Mon Sep 29 2008, 13:23

Market values vary by neighborhood. A couple of recent statistice I noticed are that in 2008 year to date, for example, property values have increased 8% on Mercer Island. In Sammamish, property values have dropped around 7% in the $400,000 to $700,000 price range. A lender recently told me, prices below $317,000 have dropped 7%, on the Eastside, so there are a lot of factors to consider when determining value.

I find when people ask me this question, they are usually wondering about their own property value. To determine your own property value, or to search for property, you would be wise to ask a knowledgeable, experieinced Realtor do to a market analysis for your property or for the area in which you are looking. An up to the minute report can be done by most Realtors.

On my own website, http://www.mcknightrealty.com , I have a link to some great market graphs, that are done for many areas. - Mon Sep 29 2008, 13:15

K. Shaughnessy, It sounds as if you have a lovely home on the market. Unfortunately, when we have a house on the market, we agents can't depend, verbatim, on the words of the Realtors who showed it. You, as a Seller can only depend on your Listing agent's interpretation of the activity. For example, a guideline I use, is, if I have had 12 showings on my listing and no offers, that means I am close enough in price for what the property has to offer, to get showings, but not competitive enough to generate a purchase and sale agreement. Real Estate is subject to supply and demand, just like any other product. Right now there is a large supply of inventory and the game you're playing now is to stay ahead of the curve by getting your agent's advise based on the activity. The quicker you move to stay ahead of the market, the more money you'll put in your pocket.

If you want, I can send you a chart showing depreciation and appreciation in the different towns in King County. On my web site, http://www.mcknightrealty.com, if you click on Market Statistics, you can see some great graphs that will give you a clear picture of the Eastside market, which includes Woodinville. - Sun Aug 31 2008, 17:34