Some Highlights: Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018. Take advantage of more inventory coming to market in the spring to find your dream home! Buying now will allow you to start earning equity today!
“The rumors of my death are greatly exaggerated.” The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over sixty-nine percent. After the crash, that percentage continued to fall for the next ten years. That led to speculation that homeownership was no longer seen as a major component of the American Dream. That belief became so widespread that the term “renters’…
Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan. Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious,…
In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A seller’s market is defined as a market in which the inventory of homes for sale cannot satisfy the number of buyers who want to purchase a home. According to the Cambridge English Dictionary, bidding wars occur when two or more parties repeatedly outbid each other as they compete to purchase something- in this case,…
Move over Seattle, the cities on the Eastside of Lake Washington are touted to be the next big thing in terms of tech jobs and real estate developments. The tech giants Microsoft, Amazon, Facebook, and Google are all planning major expansions in Seattle’s Eastside cities. An estimated 50,000 high paying tech jobs could be created in Bellevue, Redmond and Kirkland, within the next few years. Such an influx of high paying tech jobs in the area could spur a real…
Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year. Home values will continue to appreciate for years. Waiting no longer makes sense….
Some Highlights: In the majority of the country, this weekend marks the start of Daylight Savings Time as we set our clocks forward an hour on Sunday at 2:00 AM EST. Whether you plan on buying or selling this spring, these tips could help you ‘spring ahead’ of your competition! Spring brings two things: more buyers & more sellers! Get prepared now to stand out in the crowd!
Last week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey revealed that a majority of the panel believe an economic slowdown is in the near future: “While only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020, and 25% expect one in 2021.” Their findings coincide with three previous surveys calling for a slowdown sometime in the next two years: The Pulsenomics Survey of Market Analysts…
Heading into the spring buying market, there are strong trends starting to emerge. The inventory of homes for sale has increased on a year-over-year basis for eight months in a row. Home price appreciation has continued to grow, although at a slower rate. The homeownership rate has reached heights last seen in 2014, with millennials and Generation X leading the way! Let’s dive a little deeper into some of the recent reports that have been released and what they mean…
According to the National Association of Realtors, total inventory has been growing for six months straight, as has the number of buyers looking to find their dream home. In a market where inventory is increasing, you want to stand out in the crowd! This quote from Grandscope puts it well: “You can differentiate from competition by WOWing or exciting customers, not just trying to compete on price.” What better way than to be creative with your Open House! Here are…
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