The Cascade Team Blog - May, 2022

Washington State in Expected Property Tax Increase

Fueled by unprecedented gains in home values, Washington State’s red hot real estate market has led to “unprecedented” increases in home values that will drive up next year’s property tax bills, according to the King County assessor’s office.

 The Sammamish Plateau topped the list with a 52% increase from the previous year. That’s double the still eye-popping 26% increase in Federal Way. Other Eastside cities also saw staggering price increases; areas such as Redmond (43% on average), Woodinville (44%) and Kirkland (44.5%).

While not as extreme as on the Eastside, in Seattle proper, values are up 19% in Rainier Beach and 20% in Magnolia, according to the assessor’s office, which released a sample of data Thursday but is still finalizing values…

1864 Views, 0 Comments

The Real Estate Market “Shift” Is Here

The Real Estate Market “Shift” Is Here

Looks like America's home buying binge is winding down. There's a vibe shift visible in both the official data and in the anecdata from sellers, buyers, and brokers.

Why it matters: This is just what Jerome Powell ordered. The slowdown means the Fed's rate hikes are working — cooling demand in an overheated market.

"The buyers just stopped buying," said Shauna Pendleton, an agent with Redfin. Buyers who were flush with cash courtesy of the also formerly booming stock market have completely pulled back.

• Some listings now sit for weeks without even a showing. Some homes are sitting for 42 days without a single showing.
• Redfin agent Robin Glaysher said five people showed up to an open house last…

1961 Views, 0 Comments

Real Estate Market Update

Weekly Review
Newsletter - 05/23/2022

Week of May 16, 2022 in Review

Sales of existing homes and construction of single-family homes eased in April, while Fed Chair Jerome Powell’s comments caused volatility in the markets.

Existing Home Sales Edge Lower

Existing Home Sales, which measure closings on existing homes, showed that sales were down 2.4% in April at a 5.61 million unit annualized pace. This data likely reflects people shopping for homes in February and March, which included much of the rise in rates we’ve seen – but not all of it. On a year over year basis, sales were only down 5.9%, which is still quite strong considering higher rates, higher home prices and tight inventory.

What’s the bottom line? There were 1.03…

1224 Views, 0 Comments

3 Bed Home for Sale in Surprise AZ

For all the details, contact Angie Perez at 602.377.5394 or visit the property website at:  https://6380904.thecascadeteam.com/

14909 W Cameron Drive - Surprise AZ 85379

This beauty is ready to make yours today!! This 3 bedroom, 2 bath home with a full 3 car garage has lots to offer! Amazing curb appeal low maintenance front landscaping and a merry front porch! Upon entering, notice the high vaulted ceilings in the living, dining and family rooms with the open concept flowing into the kitchen. The spacious kitchen has lots of cabinet storage and slide out shelving, large island with breakfast bar, newer appliances, maple cabinets, and a sitting desk area perfect for homework needs.  The primary bedroom offers a bay window bringing in the natural…

1137 Views, 0 Comments

Consumer inflation still making headlines

Weekly Review
Newsletter - 05/16/2022

Week of May 9, 2022 in Review

Inflation remains hot on both the consumer and wholesale levels. Here are the key stories to note:

• Consumer Inflation Near 40-year Highs
• Wholesale Inflation Remains Elevated
• Initial Jobless Claims Rise for Second Straight Week
• Small Business Expectations for Better Business Conditions Hits 48-year Low
• Fed Chair Jerome Powell Confirmed for Second Term

Consumer Inflation Near 40-year Highs

The Consumer Price Index (CPI), which measures inflation on the consumer level, rose 0.3% in April, just above the expected 0.2% gain. On an annual basis, CPI eased slightly from March’s reading of 8.5% (the hottest reading in 41 years) to 8.3%. While the year over…

1275 Views, 0 Comments

The Sammamish Plateau Leads Washington State in Expected Property Tax Increase

Fueled by unprecedented gains in home values, Washington State’s red hot real estate market has led to “unprecedented” increases in home values that will drive up next year’s property tax bills, according to the King County assessor’s office.

 The Sammamish Plateau topped the list with a 52% increase from the previous year. That’s double the still eye-popping 26% increase in Federal Way. Other Eastside cities also saw staggering price increases; areas such as Redmond (43% on average), Woodinville (44%) and Kirkland (44.5%).

While not as extreme as on the Eastside, in Seattle proper, values are up 19% in Rainier Beach and 20% in Magnolia, according to the assessor’s office, which released a sample of data Thursday but is still finalizing values…

2984 Views, 0 Comments

Pricing your home in today’s market

Pricing your property is a balancing act:

On the one hand, you want to set a listing price that maximizes interest among qualified, motivated buyers who will be willing to pay top dollar for your property. Indeed, such buyers will ultimately determine your property's top market value.

On the other hand, you do not want to set a listing price that attracts a lot of buyer prospects, but sets the stage for negotiations that result in your getting less than what your property is really worth.

Your Home's Actual Market Value

In a perfect world, your home's value would be everything you think and need it to be. However, simply put, your home's value is not determined by you, but by what the market is willing to pay for it at a given time. These…

944 Views, 0 Comments

Gardening benefits for home sellers

Gardening and some benefits that come with it

 Real Estate Info Guide mentions that there is a debate whether gardening truly does add value to a home and tells us by hoe much in dollar terms is does benefit a home seller.

 The average ranges from 5.5 percent to 12.7 percent depending on the type of landscaping and the homes original value. That translates into an extra $16,500 to $38,100 in value on a $300,000 home. Meanwhile other sites suggested that a "well-maintained garden can add anything from $3,000 to $45,000

In another article, Home Light asks, "Do Gardens Increase Property Value, or Are They Seen As Too Much Work?" they mention that sometimes gardening is not beneficial, “To plant a garden is to believe in…

1050 Views, 0 Comments

Inflation, rising mortgage rates and more!

Week of May 2, 2022 in Review

The Fed took action to fight inflation while the unemployment rate held steady. Here are the key headlines:

• Fed Hikes Fed Funds Rate to Curb Inflation
• Unemployment Rate Remains Stable – But for Wrong Reasons
• Private Payrolls Miss Expectations in April
• Is the Rise in Initial Jobless Claims the Start of a Trend?
• Annual Home Price Appreciation Sets a New Record High

Fed Hikes Fed Funds Rate to Curb Inflation

Last week, the Fed hiked its benchmark Fed Funds Rate by 50 basis points after hiking by 25 basis points in March. Note that the Fed Funds Rate is the interest rate for overnight borrowing for banks. It is not the same as mortgage rates. The Fed also said they anticipate ongoing…

777 Views, 0 Comments

So many benefits that come with curb appeal

How beneficial is it to a seller to have beautiful curb appeal?

Spring is in the air, and while you are planting your flowers, mowing the lawn, and getting your house "spring pretty" you are also setting yourself up for success if you plan on selling. Does curb appeal help sellers? Does it attract buyers? It does, in face according to Homelight 

In a recent poll of top HomeLight agents from all over the country, 76% said that Improving curb appeal was the best thing homeowners could do to boost a home’s marketability, and another 95% of agents confirmed that putting effort into cleaning and polishing the exterior can bring more attention and a higher value to that home.

Buying a home is an emotional experience. It is, therefore,…

990 Views, 0 Comments