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Buyers Moving Away From City Centers
Fannie Mae economists saw a pronounced move away from dense cities during the pandemic. In a normal year, just over 9% of movers went from high-density zip codes to low-density ones. But in 2020, that figure jumped to 10.8% - a 20 percent increase over the prior...
Supply and DEMAND
Housing inventory already sits at a record low. Now challenges from severe weather further shrink the supply. New listings are down more than 200,000 in the first two months of the year, compared to the average in previous years. The result: home prices are up 10%...
Homes Selling at Light Speed
Homes sold last month in an average of only 20 days on the market (compared to 36 days at this time last year). That may relax as higher prices and interest rates make housing less affordable. Also, there is more inventory hitting the market as builders add new homes...
50 Easy Spring Decorating Ideas
Add pretty spring flair to your home with these ideas for centerpieces, table settings, door decorations, Easter egg displays and more. Click here to read 50 Easy Spring Decorating Ideas
Huge Price Gains May Not Last
Home prices rose 11.1 % over the past year, the biggest jump in almost 15 years. Economists see monthly price gains beginning to slow and expect the frenzy to moderate as more inventory comes on the market in the spring and summer months. However, they warn that...
3D-Printed Houses Arrive
Last month, the first publicly listed 3D-printed house went on the market. Now entire communities built with this technology are coming online. Industry leaders estimate that these extruded concrete or polymer structures can save 30% off conventional building costs...
Bridge Loans Boost Buyers
Prospective buyers may have to make offers that are contingent on selling their current home. That can put them at a disadvantage in a competitive bidding market. Short-term bridge loans let them waive that contingency and then pay back the loan as soon as their...
Record Growth On The Way
Goldman Sachs predicts that the U.S. economy will see 7% GDP growth in 2021, the highest figure since 1984. The combination of a fast pandemic recovery and the passage of the $1.9 trillion American Rescue Plan should also spill into 2022, with Goldman anticipating...
The Writing Is On The Wall for Homebuyers and Refinancers
Home prices have been against buyers for a while now, but soon, rates won’t be on their side either. We saw rates hit new record lows on 14 separate occasions in 2020, but the limbo game seems to be over. Buyers waiting to see if rates will dip back down in the coming...
Material Costs Hindering Home Building
Construction of new homes weakened in February as high costs for lumber and other material hindered new-home construction, according to a March 17 report. Housing starts – both single-family and multifamily building – fell 10.3% to a seasonally adjusted annual rate of...
Prices Keep Cranking Up
At the end of February, it was reported that home prices had been increasing at the fastest pace since 2014. In at least 18 of the 20 large cities tracked by the S&P Corelogic Case-Shiller index, home prices rose considerably with Phoenix, Seattle, and San Diego...
Rates Are Still Relatively Low, But Not for Lack of Upward Pressure
Last month, total mortgage application volume fell by 1.4%, while refinance applications plummeted by 40%. Freddie Mac reported that the benchmark for a 30-year fixed-rate mortgage had ratcheted up to 2.97% - still historically low. For context, last year at this...
Buying With No Credit
First-time homebuyers with little or no credit have what some call a “thin file.” But it may not prevent them from getting approved for a mortgage. Most are eligible for FHA loans and can even get conventional mortgages if they prove steady income, assets, and a...
10 Tips to Prepare Your Garden for Spring
Spring is on its way and you’ll soon be caught up in a frenzy of seed sowing, growing, and nurturing your garden as it comes back to life. Make use of these quieter winter months to organize your thoughts and get a head start on the new gardening year. Read these...
FHFA Relaxes Standards
The Federal Housing Finance Agency (FHFA) is extending lighter appraisal and employment verification rules for Fannie Mae and Freddie Mac. Because the pandemic made it harder for appraisers to enter houses, FHFA authorized mor drive-by and desktop appraisals. It will...
2021 Local Farmers Markets
Visit your communities local farmers market this season! Bainbridge Island Summer Farmers Market, Bremerton Farmers Market, Kingston Public Market, Port Orchard Farmers Market, Port Orchard Public Market, Poulsbo Farmers Market, Silverdale Farmers Market; and more!
The Simple Spring Cleaning Checklist
The simple spring cleaning checklist for the interior and exterior of your home! Use this list to get your home sparkling this season!
Sales of New Homes Leading the Way
The Mortgage Bankers Association predicts that the number of existing homes sold will hold steady at 6.4 million each quarter, and sales of new homes will grow from 905,000 to 979,000 per quarter by the end of the year as builders generate more inventory. MBA sees...
Rate Disparities for Women
In 49 states, women pay higher mortgage rates than men – on average, paying 8 to 10 points higher. That translates to nearly $7,000 more over the life of the mortgage. If a homebuyer has received only one preapproval, but has not spoken with more than one loan...
Watch Out for FOMO (Fear of Missing Out)
Fueled by FOMO, some buyers skip steps in their eagerness to strike while the iron is hot. Experts caution borrowers to buy a home that’s right in as many ways as possible, including financially. Principal and interest are only a portion of a home’s cost. Standard...
Surging Sales
January saw single-family home purchases rise 4.3% above December’s numbers. Experts see this impressive growth as a sign of an improving economy on the horizon. Home sales remain robust despite rates on 30-year fixed mortgages passing 3% earlier this month. Source:...
4 Things You Need To Know Before Selling Your Home
Why are you Selling? What is your Timeframe? Is Your Home Ready for the Market? I have a free book, “The Black Book for Market Preparation” How Much is your Home Worth in Today’s Market? Once you have your answers, pick up your phone and call me! Penny McLaughlin...
New Buyers are Surprised by How Affordable Homes are Today
Right now, headlines suggest that homes have become unaffordable for most Americans. But in reality, evidence shows that owning a home is more affordable than renting in most parts of the country. Record-low interest rates are keeping monthly mortgage payments about...
Housing Shortage Persists
Overall housing inventory plummeted 43% in January compared to the same time in 2020. New listings were also down by 23% year over year. The home shortage increased the median home prices by 15.4%. The market is so tight that the typical home spends 10 days less on...
Credit Score Surprises
FICO, Experian, Equifax and TransUnion are all different credit bureaus calculating credit scores. A borrower’s credit score will impact mortgage pricing. If there is a significant difference in the expected score and the actual score, this may indicate fraud or an...
Stage Your Home Like a Real Estate Pro
Home staging can be a significant factor in attracting your asking price. Real estate agents how that to make an excellent first impression, you should refresh paint on your front door as well as adding some color with potted plants or a new door mat. Every buyer has...
How 2020 Changed House Selling Forever
Homebuyers liked the convenient and innovative ways agents showed homes and closed on properties during COVID. Those practices may be here to stay. Buyers continue to want self-guided tours, high quality listing photos, detailed listing descriptions, video tours...
Getting Organized
Have you ever noticed that most of our self-improvement resolutions are action oriented? We’re going to join a yoga class. We’re going to clean out the garage. We’re going to reorganize our pantry. Simply setting a goal to “get organized” is too broad and you may find...
2021 Housing Market Forecast
2020 has been anything but typical – and not necessarily in a good way. But one thing is for certain: the housing market has been booming in recent months due to high buyer demand. After a dip in real estate transactions due to the initial COVID-19 outbreak, buyers...
Dig Into These Gardening Trends
More than 20 million Americans took up gardening last year to grow food or participate in a relaxing hobby. This year trends include bigger and better food gardens and more plants to decorate outdoor living spaces. Popular choices are bright, bold tropical plants that...
Record Low Inventory
Homes available for sale at the end of November 2020 were down 22% from a year earlier. It is the lowest inventory count since the National Association of Realtors began tracking in 1982. It is not surprising that home prices are shooting up thanks to strong demand...
Last Year’s Hottest Home Upgrades
Designers and contractors were busy in 2020 helping homeowners update their homes. Many closets received a makeover, creating more efficient organization with custom storage and shelving units. Thanks to COVID, mudrooms evolved into “sanitation stations” where people...
Cost-Effective Home Modifications to Improve your Health and Well-being
By Natalie Jones You might be shocked to learn that your home can impact your well-being. If you’ve been trying to improve your overall health, but have been struggling with stress, fatigue, or allergies, take a closer look at your home, and plan a few simple and...
The Unusual Real Estate Market Continues…
To Explain the unusual Real Estate Market: Mortgages are once again incredibly low. After increasing for much of last year, mortgages started dropping last November – and they kept dropping, up to and including the present. The current 30-year fixed-mortgage rates...
Getting Ready To Sell Your Home…
Call a Realtor: Interview your neighborhood specialist, ask what they do to market your home, and to provide a Comparative Market Analysis showing your home value. Prepare Your Home For Sale: Remove excess, bulky, or worn out furniture. Declutter. Deep Clean. Really...
Unusual Real Estate Market
Mortgages are once again incredibly low: Last year mortgage rates kept dropping. The current 30 year fixed mortgage rate stands at 3.49%. just 0.18 over the all time historic low. Home Prices are rising: Home prices rose 3.6% over last year (as of July 2019). We are...
Selling Your Home During The Holidays
Drawbacks to Selling Your Home Over the Holidays: Home buyers, not knowing any better, could think you are desperate. Buyers might try to negotiate or give you a lowball offer. It’s inconvenient to always be ready for a home showing. Not everybody can keep the house...
Venture Capital Enhances Local Real Estate Investment
In what is seen to be a long-term trend in Venture Capital, Bay Area investment firms have doubled their input into Seattle area start-ups in the past decade. Silicon Valley money now accounts for 40% of all local start-up capital. Out of town investors are attracted...
When Is The Best Time To Buy or Sell a Home?
I’ll challenge the idea that there is a ‘best’ time to buy or sell a home: Mortgage Rates Jump around. Even a small change in rates makes a large difference in home prices. This change is unpredictable. Statistics tell only part of the Story Home prices and demand...
Why should you hire a Real Estate Team instead of a solo Agent?
There are many benefits for you working with a team. Our Team has 4 Realtors working for you for the price of one. We have Buyer Specialists, solely dedicated to helping buyers find homes. We are able to meet all of your special needs for purchasing a home. Our...
Why Invest In Investment Property
Investors put their money in appreciating assets. Here are reasons you should consider doing the same: Rates Are Crazy Low. Low rates mean affordable lending – more for your money. It Will Appreciate. Home Price Index (HPI) has increased year-over-year basis every...
Principles Of Life
5 P’s of Life: Prior – Planning – Prevents – Poor – Performance To be truly successful in all we do both personally and professionally, planning is a must! Once we have our plans, we can go after our goals with passion, determination and focus to be successful. Taking...
Why Hire a Buyer Specialist to Buy a Home?
Re-think the idea you don’t need an agent to buy a home. Here is what our Buyer Specialists do for your purchasing of a home: Help you determine what your needs and wants are Before you start looking at homes, which is very important in this fast-moving market. Our...
Getting Your Home Ready To Sell!
Having worked with buyers and sellers for over 30 years there are things I have seen that make sense and other things that don’t. You need to look at it from a re-sale perspective. One big item would be not to over improve. Some things that work are new counter tops...
Thinking Of Buying An Older Home?
Foundation and Structural Issues: Be sure to hire a licensed structural engineer. Electrical & Plumbing Issues: Updating these systems can be costly. Keeping the original knob-and-tube wiring or original cast-iron pipes can be a serious safety hazard. Hazardous...
Housing Bubble??
Yes the economy is roaring along. The stock market is at an all-time high, unemployment is near record lows, and inflation is minimal. The growth of home values has slowed or decreased nationwide over the last year, and home sales are down nationwide. This may bring...
8 Ways To Get Rid of Pet Smells
Awful Pet Odors Turn Off Buyers and often keep your home from selling. Air Out The House. Remove or replace pet bedding. Scrub Thoroughly. Vinegar, wood floor cleaner or an odor-neutralizing product. Clean Drapes and Upholstery. Pet odors seep into fabrics. Clean Your...
5 Important Factors To Consider Before Buying a House
Saving A Down Payment. A road that seems to have no end, a drawn-out arduous journey. The excitement is unfathomable when you reach your goal. The Bills. Don’t stretch your budget and overlook expenses. Include taxes and insurance in your monthly payment along with...
Simple Tips for Families Moving to a New City
By Kris Louis Moving your family to a new city is a big step in life, and it can be a long and taxing process. Before you even leave town, you have to sell your house, find a new home, declutter and pack up all your belongings, and arrange the move, among other...
Should I Pay Off My Mortgage Early?
Advantages Of Paying Off Your Mortgage Early Eliminate monthly mortgage expense – free up income for other things: travel, invest it, stash in savings, home improvements. Save you money in interest. What To Consider Before Paying Off Your Mortgage Early Have you maxed...
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