π₯ Ed Laine’s Northwest REO Inventory Report for November 2024
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β Call or Text: +1 (206) 229-5515
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Insights from the experts. In this month’s Northwest REO Inventory Report, veteran REO Broker, Ed Laine covers everything you need to know in order to get the maximum possible return on your REO asset sales in the Seattle MSA. You see, it takes more than just knowing metrics like inventory and velocity. Though those things are important and Ed wrote the book on analyzing them, it also takes experience. When to repair and when not to. What to repair and what not to. And, most importantly what will the impact on the final sales price be? Ed’s experience as a licensed General Contractor, literally pays dividends for his Bank and Servicing Clients. Try him out and you’ll see why! Enjoy this month’s Northwest REO Inventory Report!
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Other recent videos:
β Things Buyers Need To Do TODAY to take advantage:
β’ What Are The Top …
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Disclaimer – Copyright Disclaimer under section 107 of the Copyright Act of 1976, allowance is made for “fair useβ for purposes such as criticism, comment, news reporting, teaching, scholarship, education, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing”.
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All data, house pricing, stats, and anything else mentioned are always subject to change and are provided merely as an example at the time of this recording.
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Featured image description: The image features a man pointing towards text. The text reads “The Northwest REO Inventory Report! By Ed Laine” with “November 2024” displayed at the bottom.
Transcript:
hello asset managers and asset
management professionals I’m Ed Lane
managing broker and team leader here to
provide you with the critical insights
and strategies you need for the Pacific
Northwest Market in this November 2024
edition of the Northwest Ario inventory
report this is all about empowering you
to make informed winning moves so let’s
Dive Right In the Pacific Northwest
Market saw a significant 11% increase in
closed sales month over month in October
while year-over-year closings jumped
22.5% this surge was largely driven by a
temporary dip in mortgage rates which
invigorated buyer
confidence however the reprieve was
short-lived rates climbed back up
closing October at
6.72% due to strong economic indicators
like robust job
growth meanwhile prices aren’t doing
buyers any favors home values Rose 2 .
4% from September placing the median for
homes and condos at 650,000
up 8% year-over-year
simply put affordability remains a major
Challenge and that presents both
opportunities and challenges for Aro
disposition strategies the demand is
there but so are the buyer
limitations inventory remains a key
factor in this market while active
listings fell by 6% month over month
we’re seeing seeing nearly a 30%
year-over-year
increase bringing total active
properties to 14
4,795 at the end of October for you this
uptick means more options but
competition for serious buyers remains
Fierce the counties with the highest
growth in inventory include Grant County
at
54.6% and Pacific County at 48% among
others this this shift signals potential
opportunities for asset managers to
strategically release inventory and
maximize asset
returns total market value and buyer
competition with total sales volume for
residential homes and condos reaching
over 5 billion 5.3 billion a 33%
increase from last year it’s clear that
Sirius buyers are still stepping up even
as affordability challenges Mount it’s
critical to note the competition is
driving up prices and buyers willingness
to act can shift swiftly depending on
economic and interest rate
trends keybox access data which shows a
slight 7% decline month over month but a
16% year-over-year increase indicates
continued strong interest despite Market
uncertainties buer engagement remains
relatively robust though tempered by the
realities of rising rates andice
prices so what does all this mean for
your Aro strategy in the
pnw the data is clear there’s
opportunity but a nuanced approach is
key here are our
recommendations number one act with
urgency utilize this period of sustained
buyer demand and low inventory timing is
critical for Aro dispositions as market
conditions May shift
rapidly pricing strategy is Paramount
the rise in Med and prices demands
precise and competitive pricing
strategies to attract qualified buyers
while maximizing recovery on
assets number three leverage local
market
expertise the complexities of this
Market require an experienced partner
our team is here to provide specific
Market insights property specific
recommendations and an endend solution
tailored to your needs number four
maximize buyer pool engagement with
inventory constraints and fluctuating
mortgage rates now is the time to
aggressively Market assets our team has
the tools and the network to ensure high
visibility and Market
penetration the edlane team offers
unparalleled service rooted in decades
of experience ensuring every asset gets
the attention it deserves we provide
strategic pricing effective marketing
and smooth transaction processes to
maximize your returns and minimize your
days on
Market let’s position your assets to win
in today’s market reach out to discuss
how we can help you achieve your goals
with precision and expertise I’m Ed Lane
and together we’re ready to lead the way