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Buyers Pour into the Housing Market Amidst Rising Mortgage Rates

Just two weeks ago we predicted that January would be a competitive month as buyers rush to find a home before mortgage rates climb—and that's exactly what we're seeing.

Prices surged last week 16% over 2021, kicking off what could be the most competitive month in housing history.

You can find our full report in this week's housing market update. 

Projections are homes listed by March and closing in April will see the maximum number of bidding wars and escalating prices.

According to NWMLS, despite historically low inventory levels, home sales in the Central Puget Sound region increased to levels not seen since 2006, with Pierce and Kitsap counties seeing the most sales

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  •          Year-over-year inventory, pending sales, and closed sales all fell by double digits. Only prices rose – up 17.4% overall!
  •          We will experience strong demand and very active home sales in 2022
  •          Available inventory “Drastically low.”
  •          Smart buyers are making their best offers using pre-inspections, family support, bridge loans, leveraging 401(k) accounts, and other resources

KIRKLAND, Washington (January 6, 2022) – Severe shortages of inventory, record-low temperatures and snow restrained December housing activity around Washington state beyond expected seasonal slowdowns, according to a new report from Northwest Multiple Listing Service.

Summary statistics from the MLS show the volume of new listings

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Here is your chance to be part of an innovative Real Estate Brokerage that's changing how things are done!

  • Issaquah, WA
  • Full-time
  • Salary: $18.00 to $20.00 /hour

Transaction Duties:

Create Files for New Transactions: Read through contracts and file; ensuring we have mutually signed contracts, and all forms relating to the transaction. Creates commission disbursement forms.

Escrow Duties: Open escrow and assists with communication between agents, escrow, and The Cascade Team; ensuring Escrow receives all pertinent forms for each transaction.

Time Frames and Deadlines: A real estate Transaction Coordinator's job includes paying attention to deadlines for items such as earnest money, inspections, and other related deadlines.

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Housing Inventory Grinch Means No Seasonal Holiday Slowdown for Area Housing Market

  •          Eastside and Southeast King County map areas, prices jumped more than 26% from a year ago
  •          King County inventory down 90% from 2010
  •          Overall prices rose a little more than 15%.
  •          Area wide inventory down 29% from a year ago
  •          Homes are coming off the market faster than they are coming on.

KIRKLAND, Washington (December 6, 2021) – Historically soggy weather and the onset of holidays did not deter thousands of buyers and sellers during November, based on the latest report from Northwest Multiple Listing Service. Numbers for new listings, pending sales, and closed sales were comparable to year-ago totals,

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  •         Seattle area home prices are expected to increase by another 18% in 2022
  •         Mortgage rates are expected to climb to around 3.7%
  •         Buying NOW lets you lock in what’s going to be the best price of the year and also the best rate!

There’s a myth that the real estate market shuts down over the holidays and that it’s a terrible time to buy a home—because who wants to buy a home when you could be spending that time with family. You saw where we said “myth,” right? 

The truth is that buying a home over the holidays can yield you a great deal while minimizing the competition. Here’s what you need to know if you’re in the market now. 

Look past the sparkle

You’re going to see some inflatable Santas and lights galore.

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As we careen at warp speed from Thanksgiving, Christmas, and all of the joyous (read: stressful) festivities in between, you might be tempted to take your home off the market—or hold off on listing it—until after the new year. After all, you’re swamped with cooking, shopping, and decorating, and the last thing you need is a bunch of potential buyers traipsing through your house, right?

Wrong!

In fact, there are plenty of homes listed around the holidays that may command more money, especially if the inventory is limited. If you play your cards right, you may even be able to sell your home quicker than ones listed in the spring. One of the reasons is the lack of competition during the holidays. There are so many different reasons why people won’t

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  •          “As the weather cools, the housing market intensity heats up for each new listing,”
  •          Only 3 Weeks of Housing supply remain market wide!

As the air turns cool and winter approaches, we are approaching our seasonal low in inventory. Each year, as the year closes out, potential home sellers wait until the new year to put their homes on the market. In reality, a home listed now will have higher viewership since the buyer pool has not gone down. With the pace of this market a correctly priced home offered now would probably be off the market by Thanksgiving, allowing the seller to have a quiet holiday.

Nearly half of seller’s plan to put their homes up for sale within the next six months, according to a recent Realtor.com®

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The number of new homes for sale in King County plunged from September to October dropping over 23% and those listings were quickly snapped up before the month was out, putting the squeeze on buyers who are still shopping.

  •          Active listings in inventory, down 23.6% (YOY)
  •          Inventory dropped 19% just from September alone.
  •          Only 3 Weeks of Housing supply remain market wide!
  •          “As the weather cools, the housing market intensity heats up for each new listing,”

KIRKLAND, Washington (November 4, 2021) – Northwest Multiple Listing Service brokers are detecting indecisiveness by some buyers who are getting mixed “work from home” messages from their employers. The hesitancy, coupled with cooler, wetter weather

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The only thing more scary than paying too high of a commission to sell your home… Is realizing that you don’t have too while getting even MORE service and support than most brokerages offer at a higher fee!

The Cascade Team Agents are Full Service. We are a real estate company like no other, because of the tools, service and savings we provide our clients with. We understand that in today’s fast paced environment, we need to provide a high level of service, utilize technology to keep our clients up to date at all times and provide added value to both buyers and sellers in the transaction. By leveraging these technological tools, it allows our agents to focus more of their time to servicing our clients, and also provide the most comprehensive

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After recently being named the safest large city in Washington, Sammamish has now been named the #1 Small City in the entire United States!

Sammamish Voted Safest Large City in Washington

Sammamish landed the No. 1 spot on Wallethub’s list of best small cities. The rankings were based on five categories: affordability, economic health, education and health, quality of life and safety, according to results released Tuesday by the personal finance website.

The city of about 66,000 is located 21 miles east of Seattle. Located on the east bank of Lake Sammamish, the city is perched on a plateau. The city has one of the highest median incomes in the nation for a city of its size. Sammamish offers a low-density, suburban lifestyle, and it also has

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