April, 2022 RSS Icon
Found 20 entries for April, 2022.

 

 

Monroe, Snohomish city, Duvall and Sultan market update 

 

In 2021 we were starting to see many people transition to moving from the bigger cities in Washington to more rural areas in the Snohomish County communities like Monroe, Sultan, Duvall, and Snohomish city. In a blog I wrote in May 2021 Washington's Rural Communities I addressed how Snohomish saw an increase of over 10% in sale prices, with an average of seven days on the market. And while housing prices are rising in smaller cities, you also get more bang for your buck than buying in the bigger cities like Seattle. In 2022, the trend continues. I investigated the average appreciation of some cities in Snohomish County and wanted others to see how much they have appreciated in

793 Views, 0 Comments
Read Full Post

The past few years in western Washington can be referred to as the golden age of selling your home. Sellers have had unprecedented control over the market commanding prices up to hundreds of thousands of dollars over asking price. Numerous factors have contributed to this including a massive influx of people to the area, historically low inventory, prime location. However, the largest factor leading to such a competitive buyers’ market was interest rates. The lowest rates in the history of the United States occurred in 2020 with rates sitting at 2.68% (Rocket Mortgage). This led to a frenzy by buyers, all of whom were trying to lock in the lowest rate possible. Additionally, this low of a mortgage rate allowed buyers to spend more and justify

855 Views, 0 Comments
Read Full Post

 

 Use All Five Senses When Touring Homes for Sale

by SARAH KUTA

We all know that first impressions matter when it comes to buying and selling homes. It’s why curb appeal is such an important real estate tenet, why homeowners hire professional photographers to take listing photos, and why home stagers make spaces look beautiful and inviting.

But if you only use your eyes during your search for the perfect home, you could be overlooking some very crucial clues about whether a listing is right for you. Most people forget to use all of their senses during open houses and home tours.

The next time you attend a showing, take “the five-sense approach” to home touring. Use your sight, hearing, sense of smell, touch, and even taste to evaluate

464 Views, 0 Comments
Read Full Post

To buy a house or rent, that is the question?

The market has made it challenging for home buyers, who must balance little inventory and a lot of competition. And to make matters worse, rising interest rates are here to stay. While home mortgage interest rates have increased to the high 4% range, this would be the time to really ask yourself what is the better option... buy or rent? I get it, it's a tough market right now, it may be nerve-wracking to deal with putting an offer on that home you have dreamt about and very likely deal with buyer’s fatigue and end up paying more a month because of the current rates. However, investing in real estate may be more beneficial than you know in the long run.

 

You can say Yahoo! News  explains it

555 Views, 0 Comments
Read Full Post

 

The mortgage rate trap is making the housing market worse

Within the last couple of years, mortgage rates have been historically low. At the start of 2022 we were seeing signs of mortgage rates starting to climb, and with inflation, there is even more promise that mortgage rates won’t get better any time soon.  One big factor that helped numerous homeowners save money is ultimately hurting homebuyers. Yahoo! News is calling it the interest rate trap. No earlier than January of 2022 I blogged about how mortgage rates were on the rise, The U.S. Mortgage Rates Hit The Highest Level in Two Years explaining how the rate on your mortgage can make a huge difference in how much home you can afford and what the size of your monthly payments will be

329 Views, 0 Comments
Read Full Post

Homeowners, thinking about selling your home?

The spring selling season is upon us, and while it's traditionally the busiest time of year for real estate, this spring maybe just as competitive as this time last year. With ultra-tight inventory and continually increasing home prices, it’s imperative that a home seller get there home as ready as they can to attract more home buyers.  At a time like this when there are so few houses for sale this may be the best time to get your house in the market and get top dollar. Even though the real estate market is showing signs of it cooling down, it is still a seller's market right now, we are still facing a shortage of homes for buyers. With inventory still low, homeowners who are planning on putting their

404 Views, 0 Comments
Read Full Post

Home equity, what to know if you’re tempted to borrow from that

Your home is your greatest investment, and with record increases in home prices, it results in pushing up the amount of equity you have in your home. Homes have skyrocketed within the last few years, but what does that mean to someone who doesn't plan on selling? Have you just sat there and wondered what that means to you, someone who knows that their home has gone up in value, but doesn’t know what to do with that information? After all, if you don’t plan on selling, what does it matter to you if homes have gone up in value? That’s a valid point. However, there is something called home equity. In fact, a lot of homeowners don’t know or even consider it. But, according to CNBC an

331 Views, 0 Comments
Read Full Post

 

 Some budgeting tips for new homeowners

In a market like this, with wildly competitive open houses, sky-high prices, and ever-escalating offers: there is a terrible lot to contend with when finding a new place to live. House hunting is fraught with frustration and challenges. Real estate is a lot like falling in love. Sure, sometimes it just happens at first sight, but most of the time it takes patience, understanding, and a lot of work. But there’s also no other process that deserves your time and attention, like discovering a new place to call your own. So, if you have just recently become a homeowner for the first time: I would like to congratulate you!

The last thing a home buyer wants is to be caught off guard. For one reason or

606 Views, 0 Comments
Read Full Post

Average mortgage rates are higher for all loan types today with the 30-year mortgage rate crossing above 5%.

  • The latest rate on a 30-year fixed-rate mortgage is 5.17%. ⇑
  • The latest rate on a 15-year fixed-rate mortgage is 4.197%. ⇑
  • The latest rate on a 5/1 ARM is 3.974%. ⇑
  • The latest rate on a 7/1 ARM is 4.135%. ⇑
  • The latest rate on a 10/1 ARM is 4.245%. 

Fed Chair Jerome Powell is done sitting idly on the sidelines as inflation burns away Americans’ purchasing power. The plan? Draw upon the central bank's decades-old inflation playbook by increasing rates until demand pulls back, and price growth slows.

This is already presenting a test for runaway inflation's poster child: the U.S. housing market.

CoreLogic, a real

314 Views, 0 Comments
Read Full Post

Mortgage rates keep surging, but would it be wise to buy?

The market has made it challenging for home buyers, who have to balance little inventory and a lot of competition.

According to a (past report in March 2021) from Zillow, it might make sense for buyers to act now — even in a competitive market. It could save people hundreds on their monthly mortgage payments if they move quickly, the report found, as experts predict home values and interest rates will rise.

“The best time to buy a home should always be when it’s the right time for you and/or your family. However, home shoppers would be wise to gather as much information as possible and use it to make smart decisions that maximize their buying power,” Zillow Home Trends Expert Amanda

333 Views, 0 Comments
Read Full Post