Blog

Author: Douglas Converse

  • Housing Options Expand, Offering Buyers More Choices in August

    Housing Options Expand, Offering Buyers More Choices in August

    August brought a noticeable shift in the housing market: overall inventory climbed, with U.S. listings up 1.2% from July and 3% year-over-year—even though new listings actually fell by 5%. At the same time, pending sales edged down 0.2% and median list prices slipped 1.3%. The uptick in mortgage rates continues to cool the pace of activity. For those navigating distressed or bank-owned properties, these trends offer fresh opportunities and challenges. In my work evaluating market shifts for buyers and sellers alike, staying attuned to these changes is key to making informed decisions.

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  • Map Highlights Cities Ready for New Home Growth

    Map Highlights Cities Ready for New Home Growth

    It’s no secret that new home construction across the U.S. is facing challenges right now. Permits are down 19.4% compared to pre-pandemic numbers, and we've seen declines for 44 straight months. This slowdown, driven by high costs, rising mortgage rates, and ongoing affordability hurdles, is a big factor behind the 4.7 million unit housing deficit. As someone who works every day in Seattle’s complex property market—especially with bank-owned and distressed homes—I see firsthand how these broader trends affect local buyers, sellers, and investors. Understanding where construction is stalling helps us anticipate shifts in inventory and opportunity, particularly for those navigating distressed or undervalued properties.

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  • 3806 35th Avenue W Unit 1 Seattle

    3806 35th Avenue W Unit 1 Seattle

    3806 35th Avenue W Unit 1 Seattle
    Price: 535000
    Beds: 2
    Baths: 2
    Home type: House
    Just Listed

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  • The Average Down Payment On A House, Explained

    The Average Down Payment On A House, Explained

    If you’re thinking about buying a home, understanding down payments can make a huge difference. In 2025, the median down payment across the U.S. was 19%—with first-time buyers typically putting down 10%, and repeat buyers averaging 23%. These numbers reflect a range of financial strategies, shaped by loan options and personal circumstances. Some buyers aim for 20% to avoid private mortgage insurance (PMI), while others tap into assistance programs or plan carefully to make homeownership possible. In my work with bank-owned and distressed properties around Seattle, I’ve seen how the right approach to a down payment can open doors that once seemed closed. Whatever your path, informed budgeting and knowing your options are key steps toward unlocking your next home.

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  • Price Reductions Hit 20.4% of Active Listings

    We’re seeing a notable shift in the national housing market: 20.4% of active listings have now had price reductions. After eight months of increasing contract activity, homes going under contract slipped by less than 1% in mid-Q3. This change lines up with what I often observe in the field—higher borrowing costs, with the average 30-year fixed mortgage peaking around 6.7% and remaining elevated, are clearly putting pressure on buyers.

    Even with softer demand, the market remains active. The national median list price dropped to $424,500, active listings rose by about 4%, and new listings ticked down slightly. Interestingly, fewer sellers are stepping away from the market, as delistings fell by around 13%. For buyers, this has meant more time to evaluate options and a bit more leverage in negotiations. At the same time, strategic pricing remains key for sellers who want to get deals across the finish line—a principle that’s especially true in the bank-owned and distressed property sector I focus on.

    Looking ahead, the steadiness of mortgage rates could be just as important as their actual level. If rates hover near 6.7%, we may continue to see sellers reducing prices or deciding to pull homes from the market. As always, keeping a close eye on these shifts is essential for making informed decisions.

  • The Best Time to Buy a Home in 2026

    As someone who’s spent nearly two decades navigating the Seattle real estate market—especially the ins and outs of bank-owned and distressed properties—I always keep an eye out for those unique windows when buyers can really maximize their advantage. In 2026, the period from September 27 to October 3 stands out. During this week, buyers could expect the best combination of increased inventory, softer pricing, less competition, and a slower-paced market nationwide. Active listings were projected to be up 31.9% compared to the start of the year, and 13.3% higher than the average week, offering buyers much more to choose from. On top of that, listing prices were anticipated to be 3.5% below their seasonal peak—potentially saving buyers around $14,000 on a median-priced home of $416,000. Competition was historically down 30.1% from the year’s busiest period, and homes were expected to stay on the market for about 64 days, giving buyers more breathing room to make thoughtful decisions. The overall market backdrop pointed toward growing listings and softening demand, with experts noting that early fall could widen your choices and later fall might open up even more flexibility on price. For those weighing their next move, timing could make all the difference.

  • U.S. Home Prices Ease Across Major Metros

    We're seeing a shift in the housing landscape: in mid-Q3, the price per square foot fell year-over-year in 36 out of the 50 largest U.S. metro areas, signaling a broader cooling trend across major markets. Nationally, this measure dropped about 2% compared to last year, marking the tenth consecutive month of annual softening. As the quarter wrapped up, the market's momentum slowed, with some sellers making more significant price cuts to bridge the gap with buyers’ expectations. Persistently high mortgage rates have made affordability a real challenge—especially in regions that experienced rapid price growth during the pandemic—so sellers are finding themselves adjusting more in line with buyers. An economist noted that many of the markets that boomed during the pandemic are now giving back some of those gains, helped by inventory levels that are above what we saw before 2020. Having specialized in evaluating bank-owned and distressed properties in the Seattle area since 2005, I’ve watched these cycles play out before. Understanding market shifts is key to navigating opportunities and risks, whether you’re buying or selling in today’s environment.

  • Seattle Buyers Benefit as Home Inventory Reaches 15-Year High

    Seattle Buyers Benefit as Home Inventory Reaches 15-Year High

    In my years working with Seattle's dynamic real estate market, I’ve seen cycles come and go—but the current landscape is making history. Home prices in Seattle have dropped by nearly $100,000 in just a month, and we're seeing a 9% decline compared to last year. Over on the Eastside, the median price has fallen by $225,000. Inventory has soared to a 15-year high, and with sales down, the market is clearly shifting to favor buyers. Factors like rising mortgage rates, increased taxes, and tech sector layoffs are driving these changes. For those of us specializing in bank-owned and distressed properties, these shifts open up new opportunities and require careful evaluation. If you’re watching the market or considering your next move, this moment offers a unique set of possibilities and challenges.

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  • Seattle Luxury Market Remains Resilient Despite Tech Shifts

    Seattle Luxury Market Remains Resilient Despite Tech Shifts

    Seattle’s luxury housing market is experiencing a noticeable slowdown, with sales taking longer to close and price drops becoming more common. This trend is closely linked to tech sector job cuts and an increase in high-end listings. As someone who’s spent years navigating Seattle’s real estate cycles—especially in bank-owned and distressed properties—I see firsthand how new state tax policies and major corporate decisions are shifting local wealth and influencing who chooses to move here. While rents and home prices are holding steady compared to the nation’s most expensive markets, these changes are reshaping our city’s high-end landscape in subtle but significant ways.

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  • NFL cities reveal a split housing affordability picture for 2026

    NFL cities reveal a split housing affordability picture for 2026

    It’s interesting to see how housing affordability is shifting across NFL cities as we look toward 2026. Out of 30 markets, 28 saw improved affordability by June 2026—a positive trend for homebuyers. Seattle stands out with an impressive 11.2% gain, thanks to rising incomes and declining home prices. Tampa and Las Vegas also made gains, while Milwaukee and Cleveland faced the opposite trend. As someone who works daily with Seattle buyers and sellers, especially in bank-owned and distressed properties, I see firsthand how these shifts impact real people and neighborhoods. Understanding these trends is crucial for making informed decisions in a changing market.

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