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September 2019

Found 16 blog entries for September 2019.


After last week’s post we had several great comments. I’ll address one from “B” here, which really went to the heart of why this change is being made…. That being that the public in general really doesn’t understand who pay’s buyer’s agents’ commissions and how they affect the over-all purchase price of a home.

B Day wrote: Why would a salesman list or try and sell a house with no commission? If a person can sell it by their selves, I say let them but to not have a set commission across the board seems pretty self-defeating.

Cary W Porter wrote: Thanks for the question…. It really gets to the heart of why the change was made and the surrounding confusion on real estate commissions.

You’re right! A salesman would never list a home for free or sell

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Fact: Real estate brokers’ commission rates are not regulated in any state and are ALWAYS 100% negotiable.

When you decide to sell your house, if you are like most people, you will want to hire — or at least consider hiring — a real estate agent to handle the process.

Surprisingly, many people think that real estate brokerage commission rates are “set” in their area and they have to pay a specific percentage of the sales price to the agent in order to get their services. This is absolutely not the case.  In fact, you can pay whatever you and the agent have agreed upon.

What is a “Fair” amount to pay for real estate commission?

Many people hear the word “discount” company instead of a “traditional” company but (actually, since commissions

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After last week’s post we had several great comments. I’ll address one from “B” here, which really went to the heart of why this change is being made…. That being that the public in general really doesn’t understand who pay’s buyer’s agents’ commissions and how they affect the over-all purchase price of a home.

B Day wrote: Why would a salesman list or try and sell a house with no commission? If a person can sell it by their selves, I say let them but to not have a set commission across the board seems pretty self-defeating.

SEE: Conversations On Real Estate Commissions Part 1

  • Cary W Porter wrote: Thanks for the question…. It really gets to the heart of why the change was made and the surrounding confusion on real estate commissions.

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Family saving money in piggy bank

Buying a home is likely the biggest purchase you’ll make in your lifetime. There’s a reason why people joke they feel “house poor” when they leave the closing table. Too often the burden of the down payment leaves homebuyers’ cash reserves empty.

And, new data shows that can be a recipe for financial stress.

A better measure: Cash on hand

Research by the JPMorgan Chase Institute flips the script on homebuyer risk. It turns out that having a cash cushion trumps a big down payment.

Historically, a big down payment is associated with lower risk, but the report found that liquidity — having at least three months of mortgage payments available — is a better measure of homeownership success. In fact, borrowers with less than one month of

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Courtesy of Keeping Current Matters

What Is the Probability That Home Values Sink?| MyKCM

With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective.

Here is a table showing the predicted levels of appreciation from six major housing sources:What Is the Probability That Home Values Sink?| MyKCMAs we can see, every source believes home prices will continue to appreciate (albeit at lower levels than we have seen over the last several years). But, not one source is calling for residential real estate values to depreciate.

Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market

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This in from the Northwest Multiple Listing Service:

KIRKLAND, Washington (September 9, 2019) - 

Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service. 

The MLS report summarizing August activity shows less than two months of supply system-wide, and only about 1.6 months of supply in the four-county Puget Sound region. The sparse selection is pushing up prices. For last month's sales of single family homes and condos across the 23 counties served by Northwest MLS, prices rose nearly 6.2% compared to a year

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  • New listings dropped nearly 13% system-wide and 18.5% in King County.
  • Pending sales rose nearly 6.6% in the Puget Sound region
  • June and July were also lackluster this year with regard to listings

KIRKLAND, Washington (September 9, 2019) – Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service.

The MLS report summarizing August activity shows less than two months of supply system-wide, and only about 1.6 months of supply in the four-county Puget Sound region. The sparse selection is pushing up

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Thanks to the help of The Cascade Team, we had the opportunity to serve over 2,000 SnoCones at the annual, Day at the Park with New Hope, in Puyallup at the South Hill Park.  Thank you Cascade Team!

https://www.facebook.com/watch/?v=1148259632048529

 

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Courtesy of Keeping Current Matters

Home Sales Expected to Continue Increasing In 2020 | MyKCM

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020.

Below is a chart depicting the projections of each entity for 2019, as well as for 2020

. Home Sales Expected to Continue Increasing In 2020 | MyKCM

As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

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