We recently helped a family purchase a new construction home in Shoreline. This is a picture of their new top-chef kitchen! Our clients were able to purchase this home for 12% less than the original asking price. The successful purchase was a result of a collective effort of pricing discipline and understanding the current market. We made our initial offer on Christmas Eve after the property had been on the market for nearly three months. We offered $135,000 less than the current list price as a result of taking a hard look at the comparable sales and making adjustments for the somewhat dead market. Ultimately, we transacted $40,000 higher than our offer price but still a fantastic result for our clients.
Our clients worked with Rick Robertson and his Axia Home Loans in Bellevue.
Rick was a tremendous help with our clients in the mortgage planning and approval phase. Our clients were self-employed which is always trickier. In addition, they had a house to sell but were able to get approved for purchase without selling their home. Rick arranged for a 1st and 2nd mortgage whereby the 2nd mortgage will get paid off a few months after the purchase once their house sells. Our clients own and operate Bahn Thai restaurant in lower Queen Anne– excellent Thai food, by the way!
This transaction is a reminder of how vital the home value analysis is in any market. We guide our clients the same way when the market is hot and we assess where to cap our escalation max. It’s all about buying right and we are with you every step of the way.