•                   Mortgage Bankers Association (MBA): “Long-term rates have already peaked. We expect that 30-year mortgage rates will end 2023 at 5.2%.”
  •                   National Association of Realtors (NAR) senior economist and director of forecasting, Nadia Evangelou: “If inflation continues to slow down—and this is what we expect for 2023—mortgage rates may stabilize below 6% in 2023.”
  •                   Freddie Mac: Forecasts the average 30-year mortgage rate to start at 6.6% in Q1 2023 and end up at 6.2% in Q4 2023.
  •                   The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily.
  •                   If rates continue to drop now, buyers could return to the…

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If you’re the type of homebuyer whose mood soars or plummets depending on the latest mortgage rates, then this week was a tough one.

Mortgage rates continued to climb this week, with the 30-year loan averaging 6.73%, Freddie Macreports. Rates began climbing more than a month ago and are now prompting concerns that they could again head back above 7%. This means today’s homebuyers will have to pay almost 50% more per month for home than they would have just a year earlier.

Still, economists are largely forecasting rates to trend downward in 2023, even if there are some blips ahead.

For now, “rates may rise further in subsequent weeks, depending on how strong other economic data is,” says Nadia Evangelou, senior economist and director of real…

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Happy Monday,

 I wanted to share some (really) exciting happenings-

  •       First and foremost, I was able to get some of our family friends signed around on this beautiful townhome in Suncadia (we are thrilled to have more neighbors that we love:)! There are some great deals to be had and this is one of them; I was able to negotiate all  the BEAUTIFUL furnishings (literally straight out of a magazine) and my clients got it for less than list price!! *Click the link to see this beautiful home and the stylish furnishings! https://hailey.thecascadeteam.com/listing/2040582-30-wildflower-loop-16-cle-elum-wa-98922/

  • Suncadia announced that they will open the Rope Rider Golf Course at the end of the month if conditions permit. Prospector…

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Seattle among cities likely to see big slump in housing prices.

Some of the biggest cities in the U.S. that became boom towns during the pandemic are set to see a drastic decline in home prices, according to Goldman Sachs analysts.

In a recent note to clients, the strategists warned that by the end of 2024, home prices are set to plunge by 19% in Austin, 16% in Phoenix, 15% in San Francisco and 12% in Seattle. That's because those four cities have seen large increases in inventory, and supply is now overwhelming demand.

"While overall levels of housing inventory remain tighter than pre-pandemic levels, some vulnerable metropolitan areas have seen supply increase rapidly. Unsurprisingly, our home price appreciation forecasts have been most…

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When you’re ready to buy your dream home, you’re committing to living in one location for a while. A great way to find out what it’s like to live somewhere before you commit is doing a little research about the neighborhood you’re interested in.

For example, reading reviews of residents who have shared their firsthand experiences of living in their neighborhoods will help you determine whether the zip code you’re interested in is the right fit for you and your family live in.

So, before you put your money on the line, take a peek around the neighborhood. We won’t use a certain cliché, but there is a reason the pros emphasize location when buying real estate. You can change your house—but you can’t change the neighborhood. And if your…

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Happy Monday,

After a successful marathon of looking at homes last week, my client is officially under contract on this beautiful Tehaleh home! With Spring on the way, we are starting to see more inventory each week. Interested in talking about the process? Give me a call 714-655-0595 and/or visit www.homesbyhailey.com for more information. 

Warmly, 

Hailey Miller


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Hard lessons from the Zillow fiasco: Why Zillow and Redfin pricing is wrong, and how homebuyers and sellers can avoid the same mistake when pricing a property in 2023

Key Takeaways

  • The Redfin Estimate and the Zillow Zestimate calculate a home’s market value by using publicly available information and user-submitted data.
  • Both tools are often used by buyers when shopping for a home.
  • Redfin’s median error rate is 2.28% for on-market homes, while Zillow’s is 1.9%, according to the two companies as of this writing.
  • Neither home value estimator can or should replace a professional appraisal.

If you’ve ever wondered what you could get for your home, you probably pulled up the real estate listing site Zillow to check its Zestimate or…

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  Good Morning, 

Are you considering purchasing a home in the near future? If so, your timing is impeccable and I would love to help with your house hunting needs. Below are a few key tips to get started when looking for homes. I know it might be feel like a marathon, but I promise to make it fun, exciting, educational and productive!


1. First, schedule an appointment with me to go over criteria for what you desire in a home, discuss budget and lender options,  explore areas of interest and proximity to work, play and people that you would like to be near in your new home. It is important to consider your home as your hub for all of the activities you like to do and not just being close to where you work. "Home is where the heart is."

2. I will…

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  •          Prices are dropping at the fastest rate in 5 years.
  •          Existing-home sales fell for the twelfth straight month in January, with year-over-year sales falling 37%, the biggest decline since 2010.
  •          Seattle posted the second-highest decrease in close-to-list price ratio of any metro area in the U.S. last month.
  •          Sellers are paying for rate buy-downs.
  •          Sellers are offering concessions.
  •          Inspection and other key contingencies are back in play.
  •          Many buyers are negotiating a combination of (Lower offering price, Seller Rate Buy-Downs, AND still including Inspection and other contingencies)

The housing market today remains in a hazy no man’s land, with neither buyer nor seller…

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