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Hi, I’m Doron Weisbarth with Weisbarth & Associates, Happy New Year and welcome to my January 2025 Market Update! Today, we’re going “Back to the Future” to look at what’s happening in our local real estate market—and where we might be heading this year. Now, my crystal ball’s been in the shop for a while, so I’m forced to rely on real data and patterns from the past decade, as well as a few notable curveballs we saw in 2024—like the election, the Fed playing with interest rates, and mortgage rate fluctuations that didn’t always seem intuitive. As you’ll recall, in 2024 we had a big election that caused a noticeable pause in market activity. Many buyers and sellers felt uncertain until that was resolved. In addition, mortgage interest rates didn’t follow the Fed’s lead quite as one would expect—mortgage rates went up even after the Fed lowered its own rate twice. But, what’s interesting, is that as soon as people realized rates weren’t going back to 2021 levels, they jumped back into the market.  So now that consumers are back to normal behavior, the market activity went back to being driven by those two classic forces in real estate: supply and demand. Let me show you this chart that I’ve been studying. Right now, you’ll see only the BLUE line, which shows the cyclical pattern of Closed Sales for single family homes in King County from 2014 through 2024. Notice how every year, the number of sales spikes in spring and summer, then cools off toward the end of the year. That shape has remained remarkably consistent since even before 2014. But the bigger question is how many total homes sell within that cycle—and that’s where the scale of activity really matters. Now, watch as I overlay the ORANGE bar that shows the Annual Combined Closed Sales for each year. You’ll see we hit a record high of nearly thirty thousand single-family homes sold in 2021, then a big drop to around twenty-two thousand in 2022 and crashing down to 16,611 in 2023. I’m sure that you’ll agree that this is pretty dramatic!  Last year we inched up to just under eighteen thousand single family home sold, which is better than 2023 but still way below what we’d call “normal” levels. Whether this means the market is reversing course or just catching its breath, time will tell. By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my January newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . So, what about 2025? Early indicators suggest buyers are actively searching for a good home, motivated by rising rents, the return-to-office mandates, and the possibility of refinancing later if rates drop. Sellers, however, aren’t rushing to list quite yet. Many are locked into those historically low mortgage rates and, understandably, are hesitant to give them up. That means supply might stay tight, and if demand significantly outpaces new listings, prices could climb at a fast pace. And we can’t forget new construction. Builders face material costs, labor shortages, and shifting economic conditions that can speed things up or slow them down. If fewer new homes come to market, that feeds directly into our ongoing shortage and puts upward pressure on prices. So, in short, 2025 looks like it’ll continue testing the balance between supply and demand. Buyers are eager, often willing to jump in despite higher rates, while sellers remain cautious about giving up their low-rate mortgages. Throw in the uncertainties around new construction, and it’s a recipe for a market that could see steady—or even rapid—price growth unless inventory levels improve. So if you or someone you know is thinking about making a move this year, let’s talk! My team and I use real data to help you navigate these ups and downs—no crystal ball required. Preparation and timing are everything, and we’ve got the numbers and strategies to back that up. Reach out by email, text, or—my favorite—a good old-fashioned phone call to 206-779-9808, that’s 206-779-9808. And as always, a big plug to Akin, the local organization that helps take care of kids and families in need. We at Weisbarth & Associates donate a substantial amount from every sale to this amazing organization and have been for eight years now. So your business your referral make a direct, positive impact on the people at Akin.  Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And, again, if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, Happy New Year and here’s to making 2025 a year of smart moves and bright possibilities. See you next time!

Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my December 2024 market update.  As we wrap up the year 2024, it’s time to start thinking strategically about the real estate market in the first quarter of 2025. Whether you’re planning to sell or buy, or both, proper timing and correct preparation can help you maximize your results. So, let’s talk about what you need to know to position yourself for success in 2025. If you’re a seller, the first quarter consistently offers the most favorable conditions. We’ve seen this pattern repeat without change for at least 15 years. This graph shows only a few years’ worth of data, but the pattern is consistent: homes listed early in the year attract the most attention and often sell for higher prices. The reason? The first quarter of the year typically sees a wide gap between buyer interest and available listings. In other words, the gap between supply and demand is the widest, and this tension puts a strong upward pressure on market prices. So, when you list during this time window, you’re putting your home in front of eager buyers with very little competition from other sellers, which often leads to strong offers in a short period of time.  Now, if you really want to capitalize on this market timing advantage, then make sure your home is as attractive as possible and that the marketing for it is top notch. Consider strategic upgrades, professional staging, and quality photos and videos that will highlight your home’s best features. But be careful not to overspend, particularly on home improvements and upgrades that will not raise your home’s value enough to give you a return on your investment. This is probably the number one mistake that I see sellers make. If you’re putting in a dollar and you only raise the price by 75 cents, then why do it – makes sense? Now, coming back to the market timing, by acting ahead of the spring rush, you ensure your property stands out at the exact moment when demand peaks and supply is at its lowest. How awesome is that? By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my December newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . Now, for those of you looking to buy, the early part of the year may feel like a crazy seller’s market, which might be true, but buyers who are prepared can still come out on top. One of the most important things you can do is be ready to act fast, because great opportunities don’t last long in a high-demand environment. Know exactly what you’re looking for, so when the right home appears, you’ll be able to identify it right away, and make a confident decision. The two biggest mistakes that I see buyers make are overanalyzing, which can lead to delays and paralysis, which can make you lose a good deal, and on the flip side, getting caught up in the competitive frenzy of a bidding war that ends up pushing you beyond your comfort zone. So, staying grounded, and having a skilled and experienced broker to make sure to guide you and keep you grounded, will help you stay true to your goals so that you don’t miss out on a good opportunity, but also don’t overpay. And if you’re one of the people who are looking to both buy and sell, then in addition to the advice for sellers and buyers that I just presented, there are some more nuanced details that you would need to consider. Obviously, those details will vary based on your financial situation, your timeline, where you are planning to move to, etc. I realize that this may sound big and scary, but with the right guidance to help you navigate these details, it’s really not a big deal.  The bottom line here is that no matter how you look at it, the real estate market can be complex, especially these days. If you want to get the most from your transaction, then timing your move, and correct preparation makes all the difference. My team and I have created step-by-step systems for both buyers and sellers to help you thrive in any market conditions. We have a 5-step system for sellers, and a 3-step system for buyers, and we know that they work amazingly well, because we have the numbers to prove it.  So, if you or someone you know is looking to make a move in 2025, don’t be shy! Reach out and let’s set up a time to talk. We offer a no-obligation consultation, which means that you can sit down and talk with us, and ask us questions and explore different scenarios without having to make a commitment to work with us. We only want your business if you think that we are the right people to represent you on your transaction.  And as always, remember that by working with us, you’re also supporting Akin and their incredible work with kids and families in need. We make a substantial donation to Akin from the income from our home sales, which means that your business and referrals make a positive impact in our community. To connect with us, you can share this video and my newsletter, send an email, reach out through our website, or, the best way, is give me a call directly at 206-779-9808. Let’s talk about your goals and put together a specific, strategic plan that makes sure that you’re ready to hit the ground running in 2025.  Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And, again, if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, I hope you and your loved one have a wonderful Holiday Season and a very Happy New Year, and I’ll see you next year!

Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my November 2024 Market Update! Today, we’re tackling a question I’ve been hearing a lot lately: Did the election affect buyer activity? Let’s dive in. October was an odd month—there’s no other way to put it. At the end of September and the beginning of October, we saw a flurry of market activity. Homes were being listed, going pending, and closing at a pace that lined up with the seasonal trends we’ve seen in years past around the start of the fourth quarter. In fact, when we look at the numbers, October ended with more closed sales than the previous month, which is pretty typical for this time of year. But then something strange happened. During the second half of October, the market seemed to screech to a halt. Buyers, who were so active just weeks earlier, suddenly disappeared. And this wasn’t just a local phenomenon—it was happening in many parts of the country. There wasn’t any major economic or employment shift that could explain it. The only explanation that seems to fit is the anxiety and uncertainty people felt around the election. As the saying goes, a confused mind does nothing. When people feel uncertain, they tend to freeze. They wait for clarity before moving forward, and that’s exactly what seemed to be happening in the market. By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my November newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . Now, it didn’t help that mortgage interest rates that had been dropping for most of August and September, reversed course in late September and started climbing again, settling around the 7%. But we had this level of interest rate this year, and the market activity didn’t seem to be affected. So, as I said, while I’m sure that the higher rates didn’t help, it’s hard to put all the blame on them.  Now here’s the good news: whether you liked or disliked the outcome, the election is now behind us. One major source of uncertainty has been resolved, and that should help restore some confidence to buyers who were sitting on the sidelines. In addition, the fed dropped it’s prime rate by a quarter point, which, eventually will help bring mortgage interest rates down a bit.  By the time this update reaches you, I hope we’ll see normal buyer activity for this season resuming. If your home is on the market but hasn’t been getting much attention, or if you’ve been holding back on buying or selling because of election uncertainty, the market will soon give us clearer signals about how we’ll end this unusual year. So, if you or someone you know is still considering selling a home this year, you still have time, but you need to act soon! If you’re not sure whether you should sell this year still, or wait for next year, we can analyze your options to help you make a clear decision that is best for you. My team and I famously offer a no-obligation consultation to help you put together a strategic plan on how to accomplish your real estate goals. Referring someone to us is easy—you can send them our way through our website, this newsletter, an email, or even better, just give me a call and let’s talk directly.  And remember that you business and referrals help the kids and families at Akin. Thanks to everyone who participated in their big gala fundraising even last month, where Weisbarth & Associates was the key sponsor – it was truly magical!  Thanks for tuning in! Don’t forget to like, subscribe, and follow for more updates. And if you’d like to read my newsletter or share it with a friend, you can find it at Weisbarth.com/newsletter , that’s Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, and I’ll see you next month!