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Last week we spoke of ways in which to make your offer more appealing to the seller.  One of those ways was to include an "escalation clause".  Here in the Puget Sound area, there is a form that can be added to a purchase contract to help ensure that yours is the winning bid. It's called an escalation clause, or NWMLS Form 35E.  An escalation clause is just that — a clause that escalates the offer price, as needed, to win the deal.  It is used to try to squeeze out all competition in a competitive bidding process.  And it can save you from paying a lot more than the competing buyer is willing to pay.

For example: Say you have found a property that is perfect for you and you are considering making an offer.  We would, as your buyer's agent, reach out to the seller's agent to let them know an offer is coming. The seller's agent might then indicate that they have interest from several buyers,...

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Here are some tips to make your purchase offer look better than your competition:

Submit a Large Earn...

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Did you know that many of the available property for purchase are eligible for down payment assistance? Although most potential purchasers aren't aware, there are hundreds of homeownership programs available to homebuyers in our area. In fact, just within North King and Snohomish Counties, there are several different programs to assist homebuyers in their path to homeownership!

I invite you to see which programs you may be eligible for by searching through the homes currently for sale. In seconds, the free Down Payment Resource tool will identify the number of area programs you may qualify for, and if you'd like, you can request one of our Homeownership Assistance Specialists to contact you with more information about the home or the assistance programs available!

We are committed to providing homebuyers with info...

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If you belong to a union, you, and your parents and children, may be eligible for a grant or interest free mortgage assistance in the event of an unexpected loss of income under a special program through one of our preferred mortgage lenders.  If you work in the education industry, then you and your parents and children may be eligible for a special financing program through this same lender.  And they also provide special financing benefits for employees of 200 large corporation.  Call us today so you don't miss out on the possibility that you may be eligible for one of these exciting programs.

Real Estate Industry experts are predicting a 5% growth rate this year for Washington State.  That is significantly slower growth than the 12.5% pace we were in during 2017.  So those of you that were hoping for a bubble in the housing market to burst, may be disappointed.  Now 5% growth is still a very healthy rate of increase in housing prices, but nowhere near the explosive increases that appeared during the last "bubble".  A bubble requires both overvaluation and speculation.  Speculation is the real key to predicting a bubble about to burst.  We do not have that as yet.

In 2005 people were buying homes and letting them sit vacant and then selling them without significant improvements.  Classic speculation.  Currently prices are a touch overvalued, but there is little speculation.

Another indication of a housing bubble is the length of time that homebuyers are staying in their homes before turning around and selling them.  Lower numbers equals greater sp...

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