Found 10 entries published by Spokane Branch.
Supply vs. Demand
In today's housing market, an imbalance between supply and demand is driving up home prices. Let's connect to discuss how you can tip the scales in your favor as a homebuyer.
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The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following:
- 70% of respondents want more outdoor living space
- 69% of respondents want a home office (48% wanted multiple offices)
- 46% of respondents want a multi-function room/flexible space
- 42% of respondents want an au pair/in-law suite
- 39% of respondents want an exercise room/yoga space
If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The decision you make could be determined by factors like:
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Here are 6 tips you can do to your home to make it look more appealing to buyers that will not cost you a fortune and could make the difference in your home being sold versus your neighbors.
Clean the Yard... Take the time to clean up the yard. Rake the dead leaves and grass and put away any tools or equipment that may be lying around. If buyers see a mess in your yard, the will think twice about wanting to see the inside of the house as it may be an indication of what else may await them.
Paint the House/Fence... A new coat of paint can go a long way to making your home look a bit newer. Bold colors can reflect your personal taste, so make sure you choose a neutral color that will appeal to the most number of people.
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Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity.
Equity is the difference between what you owe on the home and its market value based on factors like price appreciation.
The best thing about equity is that it often grows without you even realizing it, especially in a sellers’ market like we’re in now. In today’s real estate market, the combination of low housing supply and high buyer demand is driving home values up. This…
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If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it:
“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.”
Below is a closer look at some of the new tools real estate professionals are using to better serve sellers.
New and Existing Technology Are Impacting the Process
In the 2021 Realtor…
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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:
- What will home prices be like in 2022?
- 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%
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WHO PAYS FOR WHAT AT CLOSING?
The Seller can normally be expected to pay for the following:
- Real estate commission
- Owner’s title insurance premiums
- ½ of the Escrow fee
- Payoﬀ of all loans in Sellerʹs name including the interest accrued to lender being paid oﬀ, Statement Fees, re‐conveyance Fees and prepayment penalties
- Any loan fees required by Buyerʹs lender per the contract
- Home warranty according to the contract
- Any judgments, tax liens, etc. against the Seller
- Recording fees to clear all documents of record against the Seller
- Tax pro‐ration ‐ this is for any unpaid taxes at the time of transfer of title until the deed is recorded in your name
- Any unpaid Homeowners Association dues
- Any bonds or assessments…
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5 Tips for Making Your Best Offer
In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams.
Below are five things to keep in mind when it’s time to make an offer.
1. Know Your Budget
Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:
“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller…
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