Good afternoon prospective buyers,

I wanted to let you know that there’s a new law in Washington that requires that we have a signed agreement once we start working together, *before I even show you a home. The agreement sets forth a few things, most importantly: (1) whether we are exclusive or not, (2) how long is the agreement valid, (3) my compensation, and (4) what we do if the seller doesn’t offer to cover my full compensation. If you are thinking about buying a home this year, it is important to be "in the know". Give me a call and let's grab a beverage to discuss 714-655-0595.

Talk soon,

Hailey Miller  

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On January 1, 2024, the revised “Agency Law” that governs real estate brokerage relationships (RCW 18.86) becomes effective. Among other changes, a significant revision to the law requires real estate firms to enter into a written brokerage services agreement with a buyer before, or as soon as reasonably practical after, commencing real estate brokerage services for that buyer.

These revisions to Agency Law require that brokers enter into a brokerage services agreement with their client before — or as soon as reasonably practical after — the provision of real estate brokerage services. This contract will include stipulations like length of partnership, exclusivity vs. non-exclusivity and the rate of compensation.

Looking at the law

It may…

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For everyone who buys a house between now and February 29th, you're going to look at those people in the same way you look at people who bought houses at the beginning of covid.

You're going to look back and be like *darn it* why wasn't I that smart? Why was I so scared? What was I thinking?

I’ll repeat again because it’s that important….

Anyone who buys a house right now is going to get the best deal you'll see in years.

There is no competition right now. The second interest rates drop again you're going to see millions of buyers jump into the market and housing prices will never be the same...

Mortgage rates have fallen to their lowest level since May 2023. Additionally, I am optimistic regarding mortgage rates, but not overly. I…

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Home buyers and sellers face the prospect of major changes to how much and in what way they pay their real-estate agents, following the historic verdict against the National Association of Realtors and large residential brokerages.

There are many new rule changes regarding “Offering” a Buyer’s Agent Compensation (We no longer use the term Commission). Those changes could range from minor tweaks to the commission system to a more radical restructuring of the residential real-estate industry, such as more people buying homes without using agents or buyers paying their agents by the hour.

By way of a quick summary, a federal jury found NAR and large brokerages conspired to keep costs artificially high and awarded $1.8 billion in damages, which…

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Building relationships that last a lifetime is and always has been one of my lifelong  goals. 

 

As we grow and life moves forward, know that I am here for you. I love hearing about your current muses, life changes and of course anything real estate related! I always find it interesting how so much our life is centered around our home with regard to job changes, growing families, planned adventures and retirement. At the end of the day, HOME is so much more than where we lay our hat, it is where we raise our family, entertain, dream, eat, play and plan for the New Year. 

 

Want to talk about life, current market conditions, the process of home ownership or anything else? Give me a call, I would love to catch up! 

Cheers, 

Hailey…

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Market Recap

The new year kicks off with some hopeful signs for buyers within the real estate market. Interest rates proceeded to drop through the month of December to a current rate of 6.61% from the November level of 7.1%, with the Fed signaling additional cuts on the horizon. Yet inventory remains stagnant in accordance with typical seasonal patterns, and low inventory persisted to pressure home prices in the region, which were up about 5% year-over-year. According to Selma Hepp, chief economist for CoreLogic, “strong home price gains over the course of the year indicate that home prices in most Washington state markets have fully recovered from 2022 losses and are reaching new highs once again.”

CoreLogic’s Home Price Index forecasts another…

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