Tips from The Cascade Team Agents

  •          High mortgage rates make it difficult for prospective homebuyers to enter the market.
  •          Mortgage rates could decline if the Federal Reserve cuts interest rates next year.
  •          Here are nine projections from experts on when the Fed's first-rate cut will come.

High mortgage rates have effectively frozen the US housing market. And while lower rates could be on the horizon, Americans might have to wait awhile.

The average rate for a 30-year fixed-rate mortgage is over 7.4%, up from roughly 3% at the beginning of 2022. This has deterred prospective first-time homebuyers from taking the plunge and made existing homeowners reluctant to sell their homes and buy another — they'd rather stick with the super low rates they…

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Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.

Consider How Long You’ve Been in Your Home

From 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher today. Since 2010, the average home tenure is just over nine years (see graph below):

This means many homeowners have been living in their houses…

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Nailing the right offer price might be more affordable than you think! Here’s a look at how much the monthly payment increases or decreases when you raise or lower your offer! If you need an expert to help you craft the perfect deal for your dream home, let's chat over coffee!


Snow Headings, 253-244-1324

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By Margaret Heidenry

Mortgage rates just jumped to their highest level in 20 years, averaging 7.09% for a 30-year fixed-rate home loan as of Aug. 17, according to Freddie Mac.

In addition to home loan rates hitting their highest levels in two decades, home prices edged upward for the week ending Aug. 12 compared with this same time period last year.

“For the third consecutive week, the median home listing price maintained a slight upward trajectory,” says Realtor.com® economic data manager Sabrina Speianu in her analysis.

Why record-high mortgage rates affect both homebuyers and sellers.

Record-high mortgage rates aren’t just weighing down buyers—they’re tethering sellers to their homes, too.

Speianu explains that most homeowners…

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price to sell, not to linger

Dangers of overpricing your house.

When you decide to sell your home, it is critical to set the right price.

A real estate agent can help guide you in determining a fair market value for your home, but it is important that you understand what are the risks of overpricing your house.

  1.        Longer time on the market: If a home is priced significantly higher than similar properties in the area, it may take longer to sell, causing the property to sit on the market for an extended period. Often this results in potential buyers becoming suspicious of its value, or wondering what is wrong with the house and discourage them from making an offer.
  2.        Decreased interest: Overpricing a home can lead to decreased…

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KIRKLAND, Washington (August 7, 2023) –A downturn in the housing market was inevitable given higher mortgage rates, acknowledged broker Dick Beeson, but he and others who commented on the latest report from Northwest Multiple Listing Service noted some positives for both buyers and sellers.

The Northwest MLS statistics summarizing July activity for 26 counties in the report showed declines in listings, pending sales, closed sales and prices when compared to 12 months ago. The same metrics, which include single family homes and condominiums, were also down from June, with the exception of total active listings and months of inventory. Both showed slight month-over-month improvement.

 Buyers could choose from 10,982 active listings at the end of…

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House hunting in a desert.

Successfully buying in a low-inventory market.

We are experiencing a low inventory of homes for sale in the Phoenix area, as supply is below normal for this time of year, and there are more buyers than properties for sale.

Navigating the real estate market as a buyer when there is low inventory can be challenging, but there are strategies you can use to increase your chances of finding the right property:

  1.        Hire a good real estate agent: A good real estate agent will make your life 100% easier. They can help you navigate the market, provide you with inside information about new listings, and help you make competitive offers that stand out. And remember, all this experience comes free to you, as it is the…

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Earlier predictions were that home prices would fall due to rising interest rates. Simply put, that hasn’t happened. While higher rates have slowed appreciation and added a few extra days on the market, home prices are actually climbing at about 4% this year, which is right in line with inflation. That main reason for this is simple supply and demand economics. Most of the country is sitting at historically low levels of inventory.

Sellers have been able to hold fairly strong this year even in the face of continued high interest rates and recession fears. The biggest contributing factor here has been the lack of inventory. People still have to buy due to job and lifestyle reasons such as growing families. With many people holding onto their homes…

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The Cascade Team is extremely honored to be recognized as the “Neighborhood Favorite” in Issaquah by NextDoor!

Thank you to our neighbors! We are honored to be voted a 2023 @Nextdoor Neighborhood Fave. This award means so much for our business and helps us become more recognizable in our community.

“Neighbors know best, and Nextdoor’s Neighborhood Faves are the only annual awards celebrating the businesses that are most loved by locals. This prestigious recognition is only awarded to 1% of the local businesses on Nextdoor and is a testament to the positive impact they have had on their community,” said Nextdoor CEO Sarah Friar.

At The Cascade Team we understand first and foremost that it isn't about "Us". It's all about "You"! We are…

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An appraisal in real estate is a comprehensive assessment conducted by a licensed appraiser to determine the fair market value of a property. If you would like a complimentary CMA in your area please let me know! Message me me with any real estate questions you may have! Click on the link below to get started!


Selling your home in WA with Snow Headings, The Cascade Team

Appraisal

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