Two Reasons Why Waiting a Year To Buy Could Cost You

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.

To determine if you should buy now or wait, you need to ask yourself two simple questions:

1. What will home prices be like in 2022?
2. Where will mortgage rates be by the end of 2022?

Let’s shed some light on the answers to both of these questions.

What will home prices be like in 2022?

Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts:

• Freddie Mac: 5.3%
• Fannie Mae: 5.1%

When we think of buying our first investment property, it can be super exciting, and we don't always realize the tangible benefits of investing in real estate. 

Yahoo! Finance mentions the many benefits when investing in real estate, one of them being appreciation:

Real estate appreciates naturally, and you can also force it. Home renovations and remodeling can improve a property’s value, giving you an even greater return on your investment.

Another good benefit is cash flow:

If you invest in a rental property, you can earn cash flow in addition to any appreciation. You earn cash flow from the rent charged on the property and after you pay the expenses including the mortgage, taxes, insurance, and any

The rental market for a single-family home in Washington has gone up significanly

By Liza Alley 

K5 news explains in this article how the rental market for a single-family home has gone up tremendously in King, Piece as well as Snohomish county. 

According to Redfin, the average monthly cost of rent for a single-family home in King County rose $345 from May 2020 to May 2021. Rent increased $300 during that same time in Pierce County and increased $200 in Snohomish County.

A breakdown of average single-family home rental prices for the three counties is below:

King County:

• May 2020: $2,650
• May 2021: $2,995

Pierce County:

• May 2020: $1,800
• May 2021: $2,100

Snohomish

The key to effectively managing a single-family rental property during any economic cycle hinges on an investor’s ability to maximize their property’s value.

As the current U.S. unemployment rate hovers above Great Depression-Era levels, many property owners are having rent delinquency, leasing and management issues.

So, what can an investor do during the current economic situation to protect their asset? What immediate steps can they take to curtail delinquencies, sign new tenants and avoid long-term vacancies? 

The first step is to ensure that the property generates steady monthly rental income in the most efficient manner, even when renters are losing their jobs. Oftentimes, ensuring that a rental produces steady returns, while minimizing

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Sellers Here's How to Prepare for a Home Inspection

Some good advice: Do not try to conceal any defects you know are in the home. The key here is to work together! All homes have some issues, none are perfect so buyers and their agents are prepared to purchase a home that may have some issues.

The home inspector may find any defects anyway, and you don't want to be breaking any laws or causing the process harm. After all, you want to sell your home, and someone wants to buy it! 

Here are some ways to be ready for the inspection:

• Keep your power on if you are listing your home vacant (the home inspector may need to check a few things that need power)
• Check all your light bulbs and change any burnt out bulbs. This may cut down on time the

I have been in the Real Estate field for 14 years in the Puget Sound area, and I have truly loved my time in the industry.  I love Real Estate because it gives me access to assisting in the process of prospective home owners finding the home of their dreams, as well as helping current home owners sell their home for top dollar.  Through my years in Real Estate, I have had the opportunity to learn and grow with the current market conditions, which are always in flux, and help buyers and sellers find the exact angle to maximize their desired outcomes.  My niche is behind the scenes, helping the brokers who are out in the field maximize their time.

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving

Welcome To The Cascade Team Kara Canen!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their clients. This helps you better understand the competitive environment, pricing strategies and provides an edge in the negotiation process.  Our goal is to always meet and exceed your expectations.  We look forward to the opportunity of working with you on your next real estate transaction.

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Welcome To The Cascade Team Danielle Koval!

I have been in the Real Estate industry for 10 years and have worked with many clients in both selling and buying homes. I reside in Snoqualmie Ridge and have a vast knowledge of the Valley and the greater Eastside. I graduated from Washington State University with a degree in Communications/Marketing. The key to my success comes from the passion I have for my profession.

I believe in treating each client in an honest manner and with courtesy and respect. Communication is key to keeping clients well informed through all steps of the buying and selling process. I am client focused, organized, have great attention to detail and am dedicated to giving my clients an experience that is smooth and stress