Puget Sound Inventory of Homes Remains Tight

Puget Sound Inventory of Homes Remains Tight
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Hard Money Lenders Move Fast to Secure Real Estate Acquisitions

With Seattle making the list as a top real estate market of 2016, homes in the Emerald City and the surrounding Puget Sound area are hot properties. Tim Ellis reports in the Seattle Bubble that while the Seattle-Central Puget Sound market experienced an increase in listings in May the number of buyers kept an equal pace, essentially keeping the inventory of available homes at a historically low level. The piece sites Frank Wilson of John L Scott in Poulsbo as saying “inventory is being squeezed from all directions, from first-time buyers, renters trying to escape escalating rents, and investors as well as baby boomers buying for retirement.”

According to chairman and CEO of John L Scott Real Estate, J Lennox Scott, 80% of the homes listed are being sold within the first 30 days. A healthy normal market, says Scott, would have 30% selling in the first 30 days. Ellis sums up stating that “the current market is the best time we’ve ever seen to sell a home, and conversely one of the worst times ever to buy a home. The only positive for buyers in this market is low interest rates.”

In a competitive seller’s market, buyers need access to a direct hard money lender that can move at the speed of today’s fast-paced market and close the deal before your competitor even knows about it. Gregory M Russell wants to be that lender. Call us to learn more at 1-888-477-0444.