The Cascade Team Real Estate Blog

As our first agent event of 2020 we're excited to invite you to join us, as well as your fellow TCT agents, at Woodinville’s Airfield Estates (Address and Map below) for an evening of wine tasting and food on Friday March 27th at 6:30pm! 

We will be paying for the wine and catering in food, so this will be a fantastic event for our agents to come mingle and unwind over some great wine! If you have any questions please reach out to Connor@thecascadeteam.com

CLICK HERE TO RSVP

Winery Address:
14450 Woodinville-Redmond Road Ste #109
Woodinville, WA 98072

CLICK HERE TO RSVP

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Great Ideas to make your home gym affordable.

Why its important to look for a new home with a garage. 

Using Facebook Marketplace could be a good idea to budget for your home gym

 

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Excited about that FHA loan because it means you can buy a home with 3.5% down? That minimal down payment is certainly an incentive. But is it your best option? It might not be, because of a little thing called mortgage insurance, which can end up being a BIG thing since it makes your monthly payments more expensive.  

First, a little primer on mortgage insurance. “Mortgage insurance protects lenders from losing money if you default on the loan,” said NerdWallet. “Most lenders require private mortgage insurance (PMI) for conventional loans when the home buyer makes a down payment of less than 20%. All FHA loans have mortgage insurance, regardless of down payment amount.”

Mortgage insurance can cost homebuyers hundreds of dollars

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 Courtesy of Keeping Current Matters

How the Housing Market Benefits with Uncertainty in the World | MyKCM

It’s hard to listen to today’s news without hearing about the uncertainty surrounding global markets, the spread of the coronavirus, and tensions in the Middle East, just to name a few. These concerns have caused some to question their investment plans going forward. As an example, in Vanguard’s Global Outlook for 2020, the fund explains,

“Slowing global growth and elevated uncertainty create a fragile backdrop for markets in 2020 and beyond.”

Is there a silver lining to this cloud of doubt?

Some worry this could cause concern for the U.S. housing market. The uncertainty, however, may actually mean good news for real estate.

Mark Fleming, Chief Economist at First American, discussed the

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(NWMLS February Release)

KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases.

Matthew Gardner, chief economist at Windermere Real Estate (the largest regional real estate company in the Western U.S.), noted home buyers did not take very much time off during the holidays. “They hit the ground running as soon as the new year kicked off.” (Windermere has 140 offices in the NWMLS market area.)

Rebhuhn, the owner of Village Homes

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Courtesy of Keeping Current Matters

 

Homeownership Rate on the Rise to a 6-Year High | MyKCM

Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:

 

 

This increase does not come as a surprise. According to realtor.com,

“The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth quarter of 2019, millennials made up the largest generational segment of homebuyers, growing their share of home purchase mortgages to 48 percent.”

With so many Millennials

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Home buyers in Western Washington “hit the ground running” in January
  Inventory down 33% from last year. Pending Sales TOP new listings Inventory at new All-Time lows
KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases. 
 
Matthew Gardner, chief economist at Windermere Real Estate, noted home buyers did not take very much time off during the holidays. “They hit the ground running as soon as the new year kicked off.” 
 
Rebhuhn,…
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