January 2024 Market Review

January 2024 is here! The best is yet to come. Let's move forward together. In this 5-minute read you'll find: A Zany, Heart-warming Real Estate Win: Even after 14 years in the business, I'm still surprised when stuff like this happens. Marketplace: 2024 is poised for action not seen in 2023. Enjoy touring homes with me in 90 seconds. Reflections: Renting a theater for "Elf" brought laughs, and a few surprising tears.

REAL ESTATE STORIES: Even after 14 years in the business, I'm still surprised by stories like this.

There’s plenty of highs and lows in the real estate industry. I make it a point to manage my own emotions well so I can guide my clients when they experience the roller coaster in the process. Here’s a wild ride that ended miraculously well. I hope I never get used to stories like this.

January, 2023: I Meet J and A in Queen Anne.

2630 1st Avenue North 6 BD 4 BA 4150 SF $1,925,000 I met J and A at an open house when I was listing this Queen Anne Craftsman. It seemed like the perfect house for them and we got very close to purchasing it for them. But ultimately they decided that it just wasn’t the right time. We were all disappointed, but trusted this was the smart move.

September, 2023: A Very Cool House Surfaces in Magnolia... and Sells to Someone Else.

Nine months laster, a mid-century gem in Magnolia came up for sale which got me super jazzed. Vaulted ceilings, big windows, clean architectural lines, even some downtown views. I fell in love and wanted to find someone who would love it too. I knew J and A still weren’t quite ready, so I called some mid-century fans in my community. No luck. The house sold. I licked my wounds. Dang!

2412 West Lynn Place 4 BD 2 BA 2480 SF $1,305,000

November, 2023: A Very Cool House Surfaces in Magnolia... and it's the SAME ONE!

I was on vacation in Austin when I got a call from J and A: “We found a house we like. I think we want to buy it.” “Fantastic! Which house is it?” "2412 W. Lynn St," he answered. My heart sank. “I’m sorry… I love that house, but it sold a couple months ago. I think you’re looking at an outdated website.”

Guess how dumb I felt when he said: “Well, we just went to an open house there, so we’re pretty sure it’s on the market.” (I admit I don’t always keep up with new listings when I’m on vacation!) “No way…” I responded, flat footed. “Well, here we go, then!” Turns out the buyers who purchased 2412 W Lynn St in September had a life change and could not move in. They were forced to sell it again, just a few months later. That never happens! I shifted into fifth gear at the desk in my hotel room, prepping the contract, getting intelligence, out-maneuvering a competing offer. Success!

December, 2023: We Close on the Very Cool House and Celebrate in My Basement Bar.

J and A are the proud owners and starting their remodel! How about that? I’m so happy to be part of this home’s history and am so excited to see what J and A will do. Welcome to Magnolia, J and A!

MARKETPLACE: 2024 is Starting with Pop. Is your Window Opening?

January, 2024 is starting off with some pop. Not a BANG, but a louder pop than I was expecting. There is now good reason to believe we'll see more action this year than previously anticipated. Here's why: A nice window is opening. People are anticipating interest rate drops in the late second quarter or early third quarter. But prices are still down from their peak (around 15% in Seattle) because of the high interest rates of 2023. This opens the window to buy while higher interest rates are still keeping prices lower, but with a plan to refinance when interest rates drop. The answer to the question "how long will I have to pay premium interest rates" is starting to become more of a known quantity. See the image below--lots of good stuff to discuss here. Call me to discuss how this might affect you or your loved ones personally. There is no pressure here when you call me, just trustworthy conversation. Contact me today

Want to tour homes with me in 90 seconds? Follow me on Instagram.

My goal this year is to bring you three homes per week via high quality, narrated videos on Instagram. I view and video all the homes myself. This is a fun, easy way to satisfy your curiosity! Click the pic or the IG icon below.

REFLECTIONS: I expected showing "Elf" to bring laughs... it brought some tears as well.

It started with the goal of gathering people to watch a funny, clever holiday movie. Elf! I don’t mind putting on my candy cane pajamas if it will motivate people to spend quality time with their families and friends.

This year took more reminders than last year to get attenders. That’s okay. A few more phone calls, a few more texts, a few more reminders to RSVP. I was expecting that.

I wasn't expecting what people shared when I followed up. Maybe my candy cane pajamas made people feel like they could open up a little. And people had some stuff they needed to share. “Thanks so much for the invite. I can’t make it… my father-in-law is having brain surgery. “ Wow. I struggled for words to respond, but did my best to offer a listening ear and support. I think I did. “I don’t think I can make it… I’m not ready to go out yet. Did you know I was in a really bad car accident?” I called immediately and got more information (she's doing much better). … And from people who attended the movie: “The friends I brought had a really good time. They lost their mom to cancer this year. They were all crying during the movie.”

Laugh, and let go of some stuff.

I view all my clients and friends as a community. It's my job to help them be in the best home for their lives to thrive, and to support them along the way. Elf was not only an opportunity to laugh, but a chance to unload some of life’s burdens. It was better than we could have expected!

The 2024 Market is poised to be much more active than 2023. Are you thinking of a change? Just hit reply and start a conversation. No pressure, just trustworthy insight.

Contact me today

Matthew Koenig Lic. Realtor® M: 206.234.5574 matthew.koenig@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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