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

For a long period of time, it was the golden age of sellers. Home prices have been soaring by up to 40% a year. Sellers were so happy watching not only their homes skyrocket but also buyers paying whatever they could to snatch it up against the next highest bidder. But sellers are now facing what all those home buyers were. Naturally, if you sell, you'll have to go somewhere and compete for that home you want.  And with such high-interest rates compared to 2020, fewer homeowners have decided to sell creating far more competition for the few remaining homes. 

Mortgage rates continue to climb up

CNN Business addresses that mortgage rates have reached their highest level in more than a decade.

The 30-year fixed-rate mortgage averaged 5.11% in…
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What is the better option for buyers in this real estate market?

The market has made it challenging for home buyers, who have to balance little inventory and a lot of competition. So, in a time like this, with interest rates shooting up more and more, what options do home buyers have? Should they just rent? Should they take the leap and buy? Should they just keep waiting? 

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

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Just recently, we were discussing the beginnings of a change in the housing market. Here are some predictions for what lies ahead in the real estate market that may affect both home buyers and home sellers. 

Price appreciation will slow: The local market has seen tremendous price appreciation in the last two years. We anticipate that price appreciation will moderate slightly this year. After the big price boost in the spring, premium pricing may lower this summer. However, the year 2022 will end with positive price appreciation overall.

Luxury market stability: The luxury market has taken off over the last two years and will continue to be a strong segment of the local market due to solid job growth, the wealth effect and historically low

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It’s no secret that housing prices across the Seattle and Eastside markets saw record growth in 2021, which has continued well into 2022.  That being said, many homes that are in historically desirable and competitive neighborhoods are starting to see a shift in the market.  It is my belief that the market will remain strong through the summer for sellers who have priced, prepped, and marketed their property correctly.  

We are still in a strong sellers market, but it's critical that every seller understands the conditions of the market, and work with a professional that has a deep and local market knowledge.  So as sellers begin to make plans for the spring and later parts of 2022, here are 4 things you MUST be aware of when looking to sell your

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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

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Some not so great kitchen renovations 

Most people that are considering listing their homes know it’s a seller’s market. Several home values have been sky rocking these days, and homeownership is proving to be quite the investment. A lot of people know kitchen renovations can be one of the most beneficial investments in earning top dollar for your home. With it being spring selling season, it can be traditionally the busiest time of year for real estate. In a market like this, with wildly competitive open houses, sky-high prices, and ever-escalating offers. I get it, why not add an extra touch to make your home stand out even more? An updated kitchen is a huge selling point to a buyer’s eye. But consider this, not all types of kitchen updates can

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April 2022

Double sinks and walk-in pantries topped the list of most popular features first-time homebuyers want, according to research by the National Association of Home Builders. Using a four-tiered scale (see box) NAHB asked hopeful homeowners to rate 200 home features, including 30 in the kitchen.

The 2021 version of What Home Buyers Really Want is available as a paperback or as a digital (EPUB) report.

  Four-tiered scale

  Essential (unlikely to buy a home without
  this feature)

  Desirable (seriously influenced to buy 
  home if included)

  Indifferent (would not influence purchase)

  Do not want (not likely to buy a home with 
  this feature)

Eight in 10 buyers (80%) said a double sink and walk-in

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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

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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

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