98117 and 98107 are the two zip codes that cover the Ballard Seattle area.
Zip code 98117 covers the upper part of Ballard including Loyal Heights and Whitter Heights:
While zip code 98107 covers the lower section of Ballard including the main Ballard business hubs of Market Street and Old Town Ballard ad all the way down to Salmon Bay.
Here's some additional useful information for Ballard:
Information about living in the Ballard neighborhood.
Properties that are currently for sale in Ballard.
Search ALL houses that are currently for sale in Capitol Hill, Seattle. View listing photos, maps, and StreetView, WalkScore, information on local schools and a mortgage calculator. If you would prefer to search all property types, not just houses, click here. Happy browsing! Read more...
Looking for condos for sale in Capitol Hill Seattle? Here's a complete list of all the condos that are currently available in the Capitol Hill area. This part of the city has a lot more condos compared to most other Seattle neighborhoods plus it has more Co-Op condominiums. Click here if you would prefer to view ALL types of properties for sale in Capitol Hill. Read more...
Telltale signs that a listing will get lots of offers.
When the real estate market is strongly skewed in favor of the seller side of the equation, those sellers can expect their homes to sell quickly, and usually with multiple offers.
Buyers need to adapt accordingly, both in terms of how they look for homes (hint: don't wait for the open houses at the weekend) and in how they structure their offers.
One major factor in determining how a buyer should structure their offer is "how many other offers are there on the home?"
Based on that number, the buyer can decide if they can load up their offer with lots of contingencies or maybe have to make a slightly risky offer in order to win the bidding.
But first, a quick note on the two main ways sellers decide to review offers on their homes:
The sellers set an offer review deadline about a week after the home is listed for sale. The home will usually come on the market in the middle of the week, have open houses at the weekend and set the following Tuesday or Wednesday to review submitted offers. This is common is a hot real estate market but will less common when the market slows down.
The sellers are hoping to leverage buyer enthusiasm and generate offers with waived contingencies, particularly the inspection contingency.
Caveat: the sellers retain the right to accept an offer before the offer review deadline.
The other set of sellers will state that they will review offers upon receipt. Basically,...
Better to take smart risks and focus on winning because, if you don't, your competition will - John Rampton.
In a hot real estate market, multiple offers on a home are the norm. When low housing inventory coincides with too many eager buyers, some buyers will resort to doing "whatever it takes" to win the home.
For some people reading this article and who live in real estate markets that are not in perpetual bidding wars, some of these actions will seem insane and way too risky.
Others, however, who are trying to purchase a home in places like San Fransisco, Boston, Austin TX, and Seattle will be all too familiar with these scenarios.
Buying a home in a balanced market...how it's supposed to work (in theory at least).
In a balanced real estate market, the purchase process and contract paperwork are structured in such a way as to protect the buyers by including certain contingencies within the offer, i.e. conditions that need to be met for the sale to go through to closing.
Without going into the intricate details of how the home buying process works, here's a quick overview of a typical buyer offer on a home when the market is balanced:
- The buyer makes an offer on the home. The offer price will be close to the listing price; maybe a little above, or a little below are the actual list price.
- The buyer and seller negotiate back and forth and then reach an agreement. They have mutual acceptance.
- The buyer deposits their earnest money to escrow which becomes part of the buyer's downpayment if the sale proceeds all the way to closing. If the sale fails for some...