Western Washington Housing Market "Springs" Forward! Prices up 13% YTD!

Posted by The Cascade Team Real Estate on March 5th, 2013

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Western Washington housing indicators aligned "for spring market to remember"

KIRKLAND, Wash. (March 5, 2013) – Real estate brokers around Washington state agree today’s market is far different than two years ago, with one industry veteran summing it up by saying key indicators "are in perfect alignment for a spring market to remember."

On the plus side, closed sales during February jumped more than 9 percent from a year ago and median sales prices are up 13 percent according to new figures from Northwest Multiple Listing Service.

Last month’s pending sales across the 21 counties served by Northwest MLS also increased, but only slightly (1.7 percent) due in part to depleted…

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Mortgage Rates Move Lower

Posted by The Cascade Team Real Estate on March 2nd, 2013

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After mostly holding steady the last few weeks, mortgage rates inched down this week, giving housing a boost leading up to the spring home buying season, Freddie Mac reports in its weekly mortgage market survey. 

Freddie Mac reported the following national averages with rates for the week ending Feb. 28: 

• 30-year fixed-rate mortgages: averaged 3.51 percent, with an average 0.8 point, dropping from last week’s 3.56 percent average. A year ago, 30-year rates averaged 3.90 percent. 
• 15-year fixed-rate mortgages: averaged 2.76 percent, with an average 0.8 point, dropping from last week’s 2.77 percent average. Last year at this time, 15-year rates averaged 3.17 percent. 
• 5-year…

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Seattle, San Diego, & Tucscon Among Best Markets for Home Sellers

Posted by The Cascade Team Real Estate on February 15th, 2013

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Daily Real Estate News |     Friday, February 15, 2013   

More and more U.S. housing markets starting to tilt in sellers’ favors. 

For the average home in the U.S., the gap between the listing price and closing price is narrowing with sellers able to get more than 98 percent of their home’s listing price back. Also, the median days a home is spending on the market also is falling, dropping to 44 days nationwide in 2012 — a 23 percent decline from 2011, according to a report. 

“A limited inventory of homes on the market, combined with the extremely low cost of mortgage financing, has resulted in homes selling above asking price in many western markets, boosting the…

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Buying a Home in a Sellers Market

Posted by The Cascade Team Real Estate on February 10th, 2013

A home buyer does not want to be caught off guard in a seller's market. It's one of the reasons that the most important thing a home buyer can do is trust his or her real estate agent to advise on market conditions. If it is a seller's market, it could very difficult, if not almost impossible, to buy the first home a buyer wants to buy.

Because home buyers generally have very little interest in the real estate market when they are not buying a home, they don't always know how the market moves from one season to another, much less from month to month. It is often uncomfortable for a buyer to be told the market is a seller's market when the buyer may believe otherwise -- especially a buyer who is trying to buy in a down real estate market.

Markets…

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Mortgage Rates Move Back Down This Week

Posted by The Cascade Team Real Estate on February 8th, 2013

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Daily Real Estate News | Friday, February 08, 2013

Average mortgage rates stayed steady or inched lower this week, which “should continue to aid in the ongoing housing recovery,” Freddie Mac says in its weekly mortgage market survey. 

The following are the national averages in mortgage rates for the week ending Feb. 7, according to Freddie Mac:

• 30-year fixed-rate mortgages: averaged 3.53 percent, with an average 0.8 point, holding the same as last week. A year ago at this time, 30-year rates averaged 3.87 percent. 
• 15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.7 point,…

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Are Home Prices Rising Too Fast?

Posted by The Cascade Team Real Estate on February 6th, 2013

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Daily Real Estate News | Wednesday, February 06, 2013  

In a historical context, home prices typically increase about 3 to 4 percent a year. 

But in the years preceding the housing crash, prices in 2002 started soaring 7 percent a year, then 8 percent in 2004, and 12 percent by 2005, CNBC.com reports. 

A “new bubble” may be forming, CNBC columnist Diana Olick writes. CoreLogic’s latest housing data shows home prices rose 8 percent in December year-over-year, the largest gain in more…

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Brokers report brisk sales, but rising frustration for home buyers

Posted by The Cascade Team Real Estate on February 5th, 2013

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• Prices increase by 11.3% Year over Year

• Pending Sales increase 14.4%

• Closed Sales increase by 23.3% over same time last year

• Inventory Declines by 31.3% compared to the same time last year

• KIRKLAND, Wash. (Feb. 5, 2013) – Punxsutawney Phil’s prediction of an early spring is showing up in the latest housing activity report from the Northwest Multiple Listing Service. Its statistics for January showed a 14.4 percent year-over-year increase in pending sales and a 23.6 percent jump in closed sales amid a 31.3 percent decline in inventory.

• The MLS reported 4,289 closed sales during January, surpassing the year ago total by 820 transactions. Last month’s…

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Snoqualmie Ridge Market Update by Amy & Tony Russell

Posted by The Cascade Team Real Estate on February 2nd, 2013

Answers to the questions on today's flyer!

• How Many Homes are for sale on Snoqualmie Ridge?  38 homes for sale
• What is the average price per Sq Ft on Snoqualmie Ridge? $187.20 per sq ft
• What is the average selling price of a home on Snoqualmie Ridge?  $530, 824
• How many homes are short sales in all of Snoqualmie?  36 short sales
• What is the average size of a home for sale on Snoqualmie Ridge?  2,840 sq ft

The following information is based on the last 77 homes sold on Snoqualmie Ridge:

• Average Size:  2,622
• Price Per Square Foot:  $171.49
• Days on the Market:  68
• Average Selling Price:  $447,060
• High Price:  $683,000
• Low Price:  $130,000

Please feel free to contact us with any questions that you may have at 425-922-4887…

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The Best Months for Home Buying by State

Posted by The Cascade Team Real Estate on January 31st, 2013

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Daily Real Estate News | Thursday, January 31, 2013  

After the holidays, buyers tend to start getting more aggressive with their house hunting. Search activity usually peaks around March or April in most states, according to a new study of home searches from 2007 to 2012 conducted by Trulia. 

In September, searches slow down. By December buyer searches ebb to their lowest point of the year. 

“Home-search activity swings with the seasons in every state,” says Jed Kolko, chief economist of Trulia. “Buyers and sellers can use…

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Home Prices are Ticking UP Area Wide! Get a FREE On-Line Home Value Report HERE!

Posted by The Cascade Team Real Estate on January 27th, 2013

Home prices are beginning to rebound with some areas increasing from 3% to 16% over the past 12 months. If you have not done an accurate check of your homes value in the past year, our FREE On-Line Home Value Analysis tool allows you to see exactly what your home value is doing.

It’s not a guess or Zestimate like Zillow. These are actual Sold, Pending and Active prices. You can also see what home inventory levels area doing, Closed Sale price vs/ Asking Price and more!

It's absolutely FREE and there is no obligation. Fill out the form HERE to receive a real time MLS report on active and sold home in your area. See the sample report layout below.

Sign Up Below For Your FREE Home Value Report

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