As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers...
There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next. In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide which is right for you, let’s compare the...
Some Highlights If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. On average, nationwide, home prices appreciated by 288.7% over the last 32 years. That means homeowners grow their net worth significantly in the long term. Homeownership wins over time. Let’s connect so you can...
https://youtu.be/zQ5JR7lE6gk In this weeks update for Seattle's Eastside Real Estate Market, we'll discuss the current market conditions and how they're affecting home prices in the Eastside of Seattle. Has the market turned the corner? Are we back in a sellers market? Where are prices headed? We will address these questions this week. Whether you're looking to buy or sell a home in Eastside...
https://youtu.be/zQ5JR7lE6gk In this weeks update for Seattle's Eastside Real Estate Market, we'll discuss the current market conditions and how they're affecting home prices in the Eastside of Seattle. Has the market turned the corner? Are we back in a sellers market? Where are prices headed? We will address these questions this week. Whether you're looking to buy or sell a home in Eastside...
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: “. . . with slowly improving affordability and a more optimistic...
Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains: “. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to...
Some Highlights If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second guessing your decision—but perspective matters. While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is...
https://youtu.be/fSVD93HoNKA Finally, good news for Seattle's Eastside real estate market this week! As you know, the market has been feeling a bit sluggish recently, but the market is shifting back towards a seller. Watch our video for all the details. Get in touch with our team today to find out more about the current market conditions in Seattle's Eastside! We'll be happy to help you out! This...
Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008. One of the questions that’s on many minds, based on those headlines,...
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans. Today, the rate of inflation is...
Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the homebuying process. Let’s...
During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional...
https://youtu.be/D0IXC4xPvZ8 In this video, I'm ranking the Top 5 Housing Numbers on Seattle's Eastside. These numbers are updated as of January 11, 2023 and will be a valuable resource for anyone looking to buy or sell property on the Eastside. Whether you're looking for a new home or you're selling your current property, these numbers will help you make an informed decision about where to buy or...
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are...
https://youtu.be/_sWwUTxA_Gk In this video, we'll share our latest market update for the Redmond & Woodinville Washington real estate market. We'll give you an overview of the current market conditions, and provide you with some tips on what to expect going forward. Whether you're looking to buy or sell a home in Redmond & Woodinville, be sure to check out our latest market update! We'll...
https://youtu.be/wjUCwZm2WfQ Are you looking for a new place to live? Or maybe you're just curious about the current housing market in your area? In this video, we'll share the top 3 housing numbers in Eastside, Seattle and Snohomish County – as of January 2023. Check out this video to see how the housing market is changing in your area – and find out what the current top three housing numbers...
January 6, 2023 Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service. The MLS report for December shows continued growth in the number of active listings compared to the same month a year ago, but sharp drops in the number of pending and closed sales. Last month’s prices for single family homes...
Some Highlights If you’re planning to buy a home in 2023, here are a few things to focus on. Work on your credit and save for a down payment. If saving feels like a challenge, there’s help available. Then, get pre-approved, create a list of desired features, and prioritize them. Let’s connect so you have expert advice on how to reach...
A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of attachment to your current one. A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind. 1....
If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward. In the past year, both current renters and new renters have seen their rent go up based on information...
If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a...
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