• Sunset West On Shilshole Bay Is A Great Ballard View Condo & This One Is Pending! September 20, 2013
    News for the 6535 building of Sunset West On Shilshole Bay: This one is one of four that are Pending in the Sunset West on Shilshole Bay Condo Building located at 6535 Seaview Ave NW Ballard’s Shilshole neighborhood. There are three available, too, but these units are a hot commodity! Let us know if you […]
    Cooper Jacobs Real Estate in Ballard: 206-236-9696: Ballard@CooperJacobs.com
  • Sunset West On Shilshole Bay Condominium Market Update September 9, 2013
    Looking at the last 180 days of the Ballard real estate market and specifically at the Sunset West Condominium complex on Shilshole, there has been some interesting activity to share. A background for the Sunset West on Shilshole in Ballard: This highly sought after condominium complex was built in 1968 on the Shilshole Bay and […]
    Cooper Jacobs Real Estate in Ballard: 206-236-9696: Ballard@CooperJacobs.com
  • Sunset West on Shilshole Bay: A Coveted Three Bedroom End Unit Just Came Up For Sale! September 5, 2013
    Sunset West On Shilshole Bay Seattle: Looking for a premier Seattle waterfront condo with incredible views? 6535 Seaview Ave NW #602B Even on a dreary grey day in Seattle, this is a premier waterfront location with beautiful views. One of the coveted 3 bedroom end units is for […]
    Cooper Jacobs Real Estate in Ballard: 206-236-9696: Ballard@CooperJacobs.com
  • Ballard NW Green Home Tour Hub - SEE GREEN HOMES IN PERSON ON THIS GREAT ONE DAY TOUR April 20, 2013
    Ballard NW Green Home Tour Hub This year Ballard is the hot spot for all things on the NW Green Home Tour. Rain Gardens, Solar Panels, Remodels, you name it can be found in Ballard or close by. One can easily fill their day by what they find on this tour. Be careful, one intrepid […]
    Kim
  • Land’s End Waterfront Homes In Magnolia March 4, 2014
    Land’s End waterfront homes in Seattle’s Magnolia neighborhood offer a very unique experience. The micro neighborhood of Land’s End is a beautiful corner of Seattle’s prime Magnolia neighborhood. Land’s End Waterfront Homes Offer a Unique Northwest living experience… Perched on the Northeast tip of Magnolia’s Lawton Park just East of Lawton Wood, Land’s End . […]
    Courtney Cooper, Realtor, Cooper Jacobs Real Estate, courtney@cooperjacobs.com, 206-850-8841
  • Whidbey Island Waterfront Property May 31, 2012
    Waterfront property with beach access and homeownership all in one. If you have a Whidbey Island home you would like to be represented by us, please let us know! 990 Mutiny Shore Drive Freeland, Washington 98249 3 Bedrooms – 2.5 Bathrooms – 3,214 square feet
    Courtney Cooper, Realtor, Cooper Jacobs Real Estate, courtney@cooperjacobs.com, 206-850-8841
  • Lake Forest Park Waterfront Home: FULL Price in only THREE days….. April 1, 2012
    Do you need a Seattle area waterfront Realtor? realestate@cooperjacobs.com Lake Forest Park Waterfront Home SOLD! $1,980,000 FULL Price in only THREE days….. 16800 Shore Dr NE, Lake Forest Park 98155 Come and enjoy one of the finest lots in Sheridan Beach with its 65 ft of no-bank waterfront, abundant . . . → Read More: […]
    Courtney Cooper, Realtor, Cooper Jacobs Real Estate, courtney@cooperjacobs.com, 206-850-8841

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Seattle Real Estate: Better Than Short Sales & Foreclosures, Here’s Where The Real Deal Is

Yes, we are in a buyer’s market in Seattle – that is obvious as the inventory has increased and the buyer pool is smaller. In addition, short sales and foreclosures have increased so much so that the NWMLS has had to come out with new rules for short sales. Buyers who are well qualified are out there looking for the best deal and I am noticing that the trend is to look for a Seattle short sale or foreclosure. Although the chance to earn instant equity may be appealing and there are many wonderful aspects to purchasing a short sale or foreclosure, this may not be your best deal.

These properties are in many cases distressed in more ways than one ranging from appliances that have been pulled out and sold to deferred maintenance issues, and even thousands of dollars in unpaid bills that run with the property. Short sales in addition have a very low percentage of success rate as far as making it to close before the bank sends them to auction. Unfortunately, from what I have seen recently, the banks are still unwilling to be reasonable in many cases. On top of that, there are usually more than one department at the mortgage company involved and the left hand doesn’t speak the same language as the right hand. It is great that the MLS has tried to put a system in to make short sales a bit easier, but I really think that until the mortgage companies put a clear system in place, there is going to continue to be a low percentage of them that actually reach the closing table. This is bad news for both buyers and sellers – and the banks, but so far, I am not seeing the banks concerned enough to change this.

I think the better deal out there right now is new construction. These properties are out there sitting costing somebody something to carry them. There are perks galore being offered on them and the cost of maintenance up front is very low. The cosmetics are perfect and the builders are able to play ball when it comes to negotiating. In fact, I am seeing that when it comes to negotiating price, new construction has a much better potential for getting the better deal! New construction isn’t for short term flippers – the price is right, but be prepared to sit on the investment until the development is sold out or mostly sold out. With all of the perks and special pricing going on, there is no appreciation until the builder is out of the neighborhood. For the owner occupied buyer, though, this purchase can be ideal for earning equity.

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