The Cascade Team Blog - Real Estate News

When Will Mortgage Rates Come Down? Here’s When 9 Experts Say It Will Happen.

•          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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September 2023 Market Predictions

This is a great time to purchase a home, less competition from other buyers plus there may be  more seller incentives. Contact me to discuss!

Current market conditions for September 2023:

“For the best possible outcome, we’d first need to see inventories of homes for sale turn considerably higher,” Gumbinger says. “This additional inventory, in turn, would ease the upward pressure on home prices, leveling them off or perhaps helping them to settle back somewhat from peak or near-peak levels.” And, of course, interest rates would need to cool off. But Gumbinger says don’t hope they cool too quickly. Rapidly falling rates could create a surge of demand that wipes away any inventory gains, causing home prices to rebound.

Click on the link below to…

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Planning to Retire? Your Equity Can Help You Make a Move

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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Busted! Myths Both Buyers and Sellers Believe About The Current Market

In today's wild market, there are plenty of bad ideas on both sides of the buyer/seller equation. Here's how to correct those misconceptions so that everyone can get what they want.

The current market has buyers and sellers on pause. Interest rates have certainly put a damper on many would-be buyers and sellers’ plans. Depending on their budget, where they want to go or what kind of property they are looking for, inventory may be a concern, as well as insurance. 

Everyone seems to be in a state of flux. Many would-be buyers who are renting are continuing to do so, even though the landlord raised their rent, and while not ideal, they don’t know what else to do.

Sellers, despite being able to cash out and make some good equity, cannot make the…

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Down payments: perception vs reality

Some buyers think that to buy a home you have to put 20% down, but that's NOT THE CASE! The average down payment for First-Time Homebuyers is actually just 6%! Here’s a look at a comparison of the down payment some THINK you have to put down (20%) vs a more realistic down payment! Let’s chat if you’re ready to make the leap towards homeownership!

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Market update for Snoqualmie!

Here is your August market update for Snoqualmie!

• Average DOM- 8 days
• Median Price- $1.05
• New Listings-22
• Months of supply- 1.3

If you need to relocate or starting a new adventure elsewhere, I am happy to help get your home ready to sell or help you find your new place to call home! Serving Snoqualmie and surrounding! 

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3 Reasons To Lock In A Mortgage Rate Today!

Following months of encouraging signs that inflation was finally cooling, a new report showed that it ticked back up in July. With the benchmark interest rate already at a 22-year high and mortgage interest rates the highest they've been since 2000, many buyers may elect to sit on the sidelines and wait for the rate environment to improve. That said, there's no clear insight into when that improvement will actually take place. Nor do experts know how much rates will even fall. With this forecast unclear, it may still make sense for buyers to act now.

3 reasons why it's worth locking in a mortgage rate now.

There are multiple compelling reasons buyers may want to lock in a mortgage rate now. Here are three things to consider. 

Rates could go…

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How offer price affects your payment.

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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Cruel Summer Of Increasing Home Prices & Mortgage Rates Comes To a Close—Why Fall Should Bring Buyers Hope

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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Puyallup Market update

Here’s your market update for Puyallup, which includes Frederickson and South Hill! Inventory is slightly higher than last month and sale prices are steady. If you are looking for new construction, this is the place and you cannot beat those Rainier views! Puyallup is growing, any questions or for a CMA for your neighborhood just let me know! If you're ready to sell, I am very familiar with the area!

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