October 2018

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The...

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is...

There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions: The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter. Zelman &...

According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well! Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate. The study from Urban Institute revealed that nearly...

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Agent.  ECONOMIC OVERVIEW Washington State...

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.” If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look at the results of the latest Housing Affordability Report from...

Some Highlights: When listing your house for sale, your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can...

There are many unsubstantiated theories about what is happening with home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for...

In a recent article, National Housing Inventory Crisis Reaches Inflection Point,realtor.com reported that: New listings jumped 8% year-over-year nationally, the largest increase since 2013 Total listings in the 45 largest markets are now up 6% on average over last year This increase in housing inventory has sparked two different reactions. Some are saying this is the first sign of...

In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a recent realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help...

For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be getting the blame? Here’s what some of the experts have to say on the subject: Aaron Terrazas, Senior Economist at Zillow, says that “Boomers are healthier and working longer than previous generations, which means they aren’t yet ready to sell...

Some Highlights: Housing inventory is still under the 6-month supply that is needed for a normal housing market. Buyers are often competing with one another for the listings that are available. Perhaps the time has come for you and your family to move on and start living the life you...

Some Highlights: Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home. The best way to ensure that your home-buying process is a confident one is to find a real estate professional who not only puts your family’s needs first,...

We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years, or even the last 11 years? The reason is that homes were less affordable 25, 20, or even 11 years ago than they are today. Obviously,...

Sold for $430,000 Click Here for Details Fabulous condo in Downtown Redmond. Updates include: Brand new siding and exterior paint; completely remodeled kitchen and bathrooms. The flowing floorplan boasts 1,085 s.f. and features 2 bedrooms and 1.75 baths. The living room features white millwork, wood burning fireplace with lovely mantel, cozy garden windows with bench seats and sliding glass door to...

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year. CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change, “The rise in mortgage rates this summer to their highest level...

Some Highlights: According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country. In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family. Nationwide, it is now 26.3% cheaper to...

Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening? The market has definitely softened. However, according to two chief economists in the industry, we...

KIRKLAND, Washington (October 4, 2018) - Housing inventory continued to improve during September while the pace of sales slowed in many counties served by Northwest Multiple Listing Service. "Balance is finally returning to the market, and with it, slowing home price growth," stated OB Jacobi, president of Windermere Real Estate. A new report from Northwest MLS shows double-digit increases in...

When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory. Interest Rates Mortgage interest rates...

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year. In addition to the predictions...

Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019. CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months. If you are ready and willing to buy your...