Tips for First Time Homebuyers

A recent article by My Northwest describes 5 things buyers do that can cause agents distress and strain the client/realtor relationship:

1. Try and see beyond the current look of the home. As the article describes, "real estate professionals say they wish more clients could get past the aesthetics of the house, especially since so many of the items that bother them are easily fixable."
2. Focus on more than just finances. Sure, it's important to be prepared to purchase, but it is also key to remember that "it's not necessarily the highest offer that the seller will accept, but rather the best structured offer combining timing, price and reasonable contingencies." That is why it is key to have an agent who is on your side and can allow you to make informed decisions regarding all aspects of the transaction.
3. In this fast-paced real estate market, timing can be everything and you won't always have a substantial amount of time to commit to a decision. "If too much time passes between a buyer viewing a home and making an offer, the seller might not take another party who quickly expressed interest and maintained communication."
4. Do not talk to the listing agent without your realtor by your side. As the article says, "the listing agent is there to get the most money for the seller, not save the buyer money," which is why you need your own advocate throughout the process.
5. When making a counter offer, don't "lowball" - going back and forth can be a frustrating process for agents and more often than not, is counterproductive as it offends the seller(s).

Palace Magazine Adds Seattle To List Of Top Markets Sought By Asian Buyers

As yet another acknowledgement that Seattle has joined the league of global cities attracting Asian investment, immigration and homeownership, Palace Magazine recently published a special report on American cities that included the Emerald City with significant contributions by Realogics Sotheby’s International Realty (“RSIR”). The article also covered trends in typical markets including Boston, Las Vegas, Miami, New York and San Francisco.

“We are proud to represent our region within this elite publication and be included amongst our peer markets,” said Dean Jones, President and CEO of RSIR. “There is now little doubt that Seattle is on the map overseas and I believe this wave of foreign direct investment is just getting started.”

The article discusses how seven years after the recession the US housing market has rebounded and many cities (Seattle included) are setting new benchmarks for value. The investment prospect as well as the logic of diversifying a portfolio have created a gold rush of activity amongst Asian homebuyers. The article also outlines the popular EB-5 Investment Visa program created by the US Congress in 1990 to stimulate the US economy through job creation and capital investment by accredited foreign investors. According to the report, nearly 10,700 EB-5 visas were issued, with 85-percent of them going to wealth Chinese investors.

In addition to profiling the Seattle market, several RSIR listings were featured including a luxury condominium at Fifteen Twenty-One Second Avenue in downtown Seattle offered at $3,200,000 and Prima Vista, a waterfront estate located on the Juanita “Riviera” on Lake Washington offered at $6,288,000.

Download a .pdf of the Article >>

Read a Mandarin Translation of the Article >>

This latest coverage by Palace Magazine follows a flurry of recent attention, as RSIR has continually played a leading role in bridging homebuyers on both sides of the Pacific. Just last week, RSIR launched the all-Mandarin Seattle Luxury Living Magazine with Tiger Oak Publications and a WeChat App Platform to reach a Chinese audience of over 600 million.

How to Save for a Home When All Your Money Is Going Toward Rent

It's no secret that rents are on the rise; it can certainly feel daunting to even think about purchasing a home when so much of your income goes to paying rent. Fear not! Realor.com, recently came out with a way to be able to start stockpiling and saving, even amidst growing rents.

Every little bit helps! Some of your everyday expenses add up; limiting some expenses that could be deemed 'frivolous' can easily be put towards saving. Other actions such as finding places to rent that don't have such limiting rental obligations are also essential!

Read the full story >>