Listings nw seattle market trends class 11.15.12
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  • 1. What the Sell? Seattle Real Estate Trends November 15, 2012 Presented By: Kim Giles Redfin’s Listings NW TeamSlide 1 of 32
  • 2. Agenda ● A little bit about Redfin ● Case Shiller ● Listing inventory ● Homes sold ● New listings ● Monthly supply ● Multiple offers ● Is this the recovery? ● Listing with RedfinSlide 2 of 32
  • 3. A Little Bit About Who We Are ● Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. ● Customers, not commissions ● Informed decisions ● The right home for the right price ● No obligation, no pressure ● Get back a portion of our commissionSlide 3 of 32
  • 4. National Market Trends ● Redfin’s data for 19 U.S. markets show summer prices increasing 3.0% over last year ● CoreLogic reported that May home prices increased 2.0% year-over-year, rising for the third consecutive month ● One in four homes under contract in less than two weeks ● Low rates and low inventory are creating the price pressure ● The interest rate on a 30-year mortgage hit an all-time low two weeks ago of 3.125% ● The number of homes for sale is down 19% from last year, and down nearly 50% in California and Seattle ● Completed foreclosures are down 27% from their 2010 peak, and seriously delinquent mortgages hit a three-year lowSlide 4 of 32
  • 5. Yesterday’s prices were a historic joke. ...and not a very funny one.Slide 5 of 32
  • 6. Case-Shiller: Seattle Area v. 20-City 250.00 20-City Composite Seattle 200.00 150.00 100.00 50.00 0.00Slide 6 of 60
  • 7. Case-Shiller – By the Numbers Seattle Area Up 3.4% year-over-year Peak was July 2007 Down 26.3% from peak Currently at February 2005 prices 20-City Composite Up 2.0% year-over-year Peak was July 2006 Down 29.4% from peak Currently at September 2003 pricesSlide 7 of 32
  • 8. Today’s Market: Great for Sellers ...if you can afford to sell.Slide 8 of 32
  • 9. Home SalesSlide 9 of 32
  • 10. New ListingsSlide 10 of 32
  • 11. InventorySlide 11 of 32
  • 12. Months of SupplySlide 12 of 32
  • 13. Multiple Offers of local Redfin offers faced competition (August - October)Slide 13 of 32
  • 14. Multiple Offers of homes sold in the third quarter of 2012 in King County were ALL-CASH dealsSlide 14 of 32
  • 15. Is this the “Recovery?” • Inventory levels at 3 year low • Rates at all time low (3.125% recently) • Consumer Confidence on the rise • Prices on the rise (Case Schiller) • Dramatic price increases in some areas • Local industries growing/expanding • First time home buyer credits have matured • Demand will stay strong through winterSlide 15 of 32
  • 16. Listing with Redfin We’re changing the game: here’s how we do it.Slide 16 of 32
  • 17. Why Redfin Stands Out● Information and Tools● Value● ExposureSlide 17 of 32
  • 18. Information Top agents paid salary not commission with all reviews posted onlineSlide 18 of 32
  • 19. Tools We know more, you know more Our tools track visits to your listing online Compare activity to other local listings Respond quickly to market changes Identify traffic sourcesSlide 19 of 32
  • 20. Value: Save Without Compromise List Price Redfin Traditional Broker Savings: $200,000 $5,500 $5,000 $0 $250,000 $5,500 $6,250 $750 $300,000 $5,500 $7,500 $2,000 $350,000 $5,500 $8,750 $3,250 $400,000 $6,000 $10,000 $4,000 $450,000 $6,750 $11,250 $4,500 $500,000 $7,500 $12,500 $5,000 $550,000 $8,250 $13,750 $5,500 $600,000 $9,000 $15,000 $6,000 $650,000 $9,750 $16,250 $6,500 $700,000 $10,500 $17,500 $7,000 $750,000 $11,250 $18,750 $7,500 $800,000 $12,000 $20,000 $8,000 $850,000 $12,750 $21,250 $8,500 $900,000 $13,500 $22,500 $9,000 $950,000 $14,250 $23,750 $9,500 $1,000,000 $15,000 $25,000 $10,000 $2,000,000 $30,000 $50,000 $20,000Slide 20 of 32
  • 21. A Strong Debut We make sure your home looks its best with free, professional photos Photos are 2nd only to price in generating tour interestSlide 21 of 32
  • 22. Perfect Pictures from:Slide 22 of 32
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  • 27. Boston Virtual Imaging Interactive Floor PlanSlide 27 of 32
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  • 29. Exposure More people see your home on Redfin.com #1 Brokerage Website 100-250 extra clicks per daySlide 29 of 32
  • 30. Mobile Exposure More people see your home on the go Top Rated Mobile AppsSlide 30 of 32
  • 31. Even more Exposure Potential buyers see your home on the web We buy premium placement on Realtor.com, the top real estate website in the U.S. (Source: Hitwise)Slide 31 of 32
  • 32. Thanks for Coming! Please fill out the survey that was handed out at the beginning of class. We appreciate the feedback! Check out our upcoming classes and events at http://www.redfin.com/buy-a- home/classes-and-events Kim Giles | Listing NW Team | Redfin kim.giles@redfin.com | T: 425.281.6998Slide 32 of 32