There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly. After all 13,808 houses sold yesterday, 13,808 will sell today and 13,808 will sell tomorrow. 13,808! That is the average number of homes that sell each and...
The headlines agree mortgage interest rates have dropped substantially below initial projections. Many who are considering purchasing a home, or moving up to their dream home, might think that they should wait to buy, because rates may continue to fall. A recent article on the Economists’ Outlook blog by the National Association of REALTORS® (NAR) provides insight into one major factor in the...
If you are thinking about purchasing a home right now, you are surely getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home. There are three questions you should ask before purchasing in...
It is common knowledge that a large number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their home on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the...
Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. In most areas, prices are still below those of a few years ago. Also, interest rates are still near 4%. However, sellers should realize that waiting to make the move while mortgage rates are projected to increase probably doesn’t make sense. As rates increase,...
Listed for $400,000 - Click here for more details Welcoming tri-level home in the Inglewood Glen neighborhood. The open floorplan features 3 bedrooms, 2.5 baths, 1,410 s.f. on a private lot. Spacious living room with vaulted ceiling, brick wrapped fireplace, window bench with storage and bay windows overlooking the front deck. Dining room with hardwood floors. Kitchen with ample cabinets, newer...
Every home must be sold TWICE! Once to the buyer, and once to the bank appraiser if a mortgage is involved. The second sale may have just become more difficult. A new program announced by Fannie Mae may slow down the home-sale closing process by causing more disputes over prices between sellers and buyers. In a recent Washington Post article they explained the basics of the program: “Starting...
There are many people out there who debated purchasing a home over the course of the last year, but ultimately did not. Whatever their reasons were for delaying, let’s look at whether the decision to wait to buy made sense. What happened in 2014? The 30 year fixed rate on January 2, 2014 was 4.53% as reported by Freddie Mac. Looking at the chart below, your monthly mortgage payment with principal...
A recently released study revealed that a whopping $441 Billion was spent on rents in the U.S. in 2014. This represents an increase of over $20 Billion from the year before. As shown on the chart below, rents have increased consistently over the last 20+ years. However, the recent increases have been astounding. Why such a jump? Many Millennials have postponed the purchase of their first home...
KIRKLAND, Washington (Jan. 6, 2015) - Real estate brokers around Western Washington reported a strong finish to 2014. December's sales outpaced the same month a year ago by double digits, according to new figures from Northwest Multiple Listing Service. "December was one of the best Decembers on record," observed J. Lennox Scott, chairman and CEO of John L. Scott Real Estate upon reviewing the...
The holiday season is behind us, time to focus on what exciting new experiences 2015 can bring! If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists,...
We finished 2014 with the 30 year fixed mortgage rate at 3.87% as per Freddie Mac. This is very close to the historic lows in the spring of 2013. However, the Mortgage Bankers Association projects mortgage rates to be about 5% by the end of 2015. The website Investopedia agrees and gives some perspective on the 5% rate: “Barring another financial and housing market implosion, and if the economy...
Here are the latest market charts from the MLS. Click on each image below for a larger version. Active Listings vs. Sold Listings Number of Pending Listings Median Sales Price For more information our the Seattle and Eastside Real Estate Market contact Tony Meier...
According to Freddie Mac’s latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection: “We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007.” And their optimism was seconded by both the National Association...
Tony is a true pro that supported us from VERY early (couple years before listing) and through the entire process with no business (‘have to sign me up first’) type pressures – THANK YOU! He always found time to respond in a timely manner and communicate the plan, any updates, and offer general assistance in words an inexperienced seller could understand. He minimized unknowns to us and that made...
Last week, we reported on the financial reasons that the New York Times felt that homeownership was important. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership. There’s No Place Like Home The top 4 reasons to own a home cited by respondents were not...
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