Sequim real estate is hot lately, so let’s talk about why buyers are making a move during July and August. There are five main reasons:
First, interest rates are at an all time low. Try 3.64% for a 30-year fixed rate loan. During all of my life interest rates have been higher, and I’m 57. This is a big reason my clients are buying homes. The bigger the loan, the more important it is to buy before interest rates increase. Sequim real estate is inexpensive when you consider the low interest rates and monthly payments.
Second, Sequim real estate prices are at or near a low. All my buyers say that.
Third, this is the biggest buying time of the year, July through September. The weather in Sequim has been absolutely gorgeous lately, and does affect people in a positive way, especially if they are planning to move to Sequim.
Fourth, the uncertainty of the economy and the future of our country has made Sequim real estate more attractive. Metropolitan areas like Los Angeles only have three days of emergency food supplies. Clients from those areas tell me they know the chaos that would ensue, and Sequim looks mighty attractive in times like this.
Fifth, retirees know that the inventory of homes in a small market like Sequim is limited. Out of a few hundred homes listed for sale, there will only be about two dozen that satisfy general search parameters for the majority of retirees. When that list is further filtered, only six to a dozen homes are left. Most retirees are looking for the same six to a dozen homes. Once a home is sold, it is off the market forever as far as buyers are concerned. When the best homes in the best areas are sold, that leaves the rest. If you can’t find your ideal home in the current inventory, you’ll have to buy a lot and build a home, and that will cost more and take longer.
These are the main reasons Sequim real estate is selling in these summer months and why buyers are making their move now.
Last Updated on August 13, 2012 by Chuck Marunde
