Baby boomers and their cash are driving up the housing market right now and how experts state there will be no return to 3% interest rates. "There will be no return to the 3% rates we had during the pandemic," Bright MLS chief economist Lisa Sturtevant said in a statement Thursday. "Homebuyers have had to accept the ‘new normal’ of rates around 6.5% or even a little higher."

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Baby boomers and the current market

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Here is your market update for the Seattle metro area, King and Pierce county! There is still low inventory but the summer market is pushing sale prices higher due to less home availability. Sellers that have homes that are priced and showing well, are encountering multiple offer situations. Buyers can take advantage by getting their best offer in quickly. Need help navigating this market in Washington State, just let me know!

Snow Headings,  253-244-1324

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Here are some important factors when determining property value! 

1. Comparable homes in your neighborhood.

2. Size of the home.

3. Upgrades and renovations to the home. (I feel this is very important in today's market).

4. Age and condition of the home.

Any questions? Reach out to me, I'd be happy to help!

Snow Headings

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