Brokers seeing “simple economic recipe for a softening housing market”

  • Active Listing Inventory Surges 47%
  • Median Home Price in King County DROPPED 1.6% In June From May
  • New Listings Outgain Sales
  • Fewer Multiple Offers Reported
  • Price Reductions Hit The Housing Market as Sellers Sense Buyers Pulling Back

KIRKLAND, Washington (July 5, 2018) – Home buyers around many parts of Washington state had

more choices and less competition during June, prompting some industry leaders to comment on “a

feeling of change in the market.”

 

“Inventory is up and demand has dropped,” reported Robert Wasser, an officer with the board of directors

at Northwest Multiple Listing Service. That combination is “a pretty simple economic…

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Decorate your bikes and trikes and show your patriotic spirit by participating in the annual 4th of July Parade at Snoqualmie Ridge.

The parade begins at 10:30 am at Cascade View Elementary. 

Following the parade, join us at Community Park for an afternoon celebration filled with food, games, music, face painting, pony rides and more… And come visit The Cascade Team as we host FREE Sno-Cones for our 13th straight year along with some other fun free giveaways! The Mt Si Highschool Cheerleaders will also be assisting The Cascade Team this year at the Sno-Cone Booth!!

It’s a free event open to the Snoqualmie community and typically attended by thousands every year.  So grab your family, your red, white and blue – and see you at the park!
  • …

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  Once you've made an offer on a home and all contingencies have been met by both parties, closing on the property becomes final. Closing costs are generally 4% of your loan amount, but this can vary. To help you get a sense of what's left to be done, here are 10 steps involved in closing the deal:

  1. Draw up a purchase offer with detailed contingencies in place
  2. Seller accepts the deal or counteroffers with contingencies and price changes of their own
  3. Submit your deposit, also known as "earnest money"
  4. Apply for your loan if you aren't already pre-approved
  5. Have the home inspected by a licensed home inspector
  6. Get the house appraised
  7. Perform a title search, buy title insurance, and homeowners insurance, as required by your lender
    8. …

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  The Cascade Team Real Estate's highly-rated real estate app for IPhone and Android allows you to search all available MLS listings of current homes for sale, so you know you're getting the best and most accurate information. Take your home search to go with the mobile app, complete with interactive maps, photos, and one-touch access to your local real estate agent. Plus, everything you do on the app syncs up with your account on www.TheCascadeTeam.com, so you always have your saved searches and homes with you and can save homes for sale that you love while you're on-the-go.   ***** "Full MLS integration on a responsive platform" ***** "Most accurate data for serious buyers/sellers" ***** "Great features and easy to use!" Key Features…

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What is a “Balanced” Real Estate Market

Today we tackle the “balanced market“, which is considered to be an overall real estate market that does not favor the buyer or seller dramatically.

Statistically speaking there are 2 ways to describe a balanced market,

  1. It is a market where homes are taking an average of 90 – 180 days (3 to 6 months) to sell
  2. Or a market where 40% to 60% of new listings in any given month sell.

Both definitions boil down to how quickly the inventory (all the homes for sale) are getting sold.

Home Prices in a balanced market tend to increase slowly and steadily, sometimes appearing flat.

One important note: is that an overall balanced market is really composed of several various markets, like this image…

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  1. Highest Number of New Listings to Hit The Market In 10 Years
  2. Increased Inventory Leans Towards a More “Balanced” Market
  3. Home Price Increases still up but Slowing
  4. Some Neighborhoods Now Seeing Slight Price Decreases  

Improving inventory creating long-awaited opportunities for buyers
KIRKLAND, Washington (June 5, 2018) – Member-brokers of Northwest Multiple Listing Service added 14,524 new listings during May, the first time that volume topped 14,000 since May 2008.

“With eyes peeled for potential shifts in a market that’s felt like ‘more of the same,’ the recent uptick in new listings hitting the market catches my eye -- the most new listings in more than a decade,” commented Robert Wasser, owner/broker at Prospera Real Estate in…

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Welcome To The Cascade Team Kim Giles!

With over 14 years of real estate sales experience, Kim has the background to skillfully market your home when Selling or find the perfect 'fit' for you when Buying! Delivering a genuine “works for YOU” real estate experience is her top priority.
A long time resident of the Eastside, Kim has helped her clients succeed at every turn, closing over $100 million in property sales. She provides local, neighborhood knowledge and area specifics that will give you a distinct advantage in meeting your real estate goals!

Kim will be a wonderful addition to The Cascade Team and we look forward to seeing her success!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving…

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Welcome To The Cascade Team Raguel Shaw!

Raguel is passionate about ensuring the very best for her client’s interests and goals. A long-time Arizona resident, she believes nearby outdoor recreation and city amenities make the Valley a true gem. She is dedicated to serving her clients well and will work tirelessly to help attain their real estate goals. Having purchased and sold many personal residences, she understands being in the client’s shoes and is honored to aid in such a major life and financial decision. With a background in civil engineering, she has designed many residential and small commercial developments which has provided her with an analytical skill set and critical eye for major home decisions.  Raguel loves working with people. As…

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Welcome To The Cascade Team Todd Giefer!

In my 13 plus years in Real Estate, I have built a reputation for providing trustworthy, well-researched advice to my clients and am passionate about providing the best possible service. In an ever-changing market, I am with you every step of the way.

Before real estate, I was a multi unit manager for 15 years working Fortune 500 companies like ExxonMobil and  Conoco Phillips. Even then Real Estate was always a passion of mine, and I first became an investor before I left the corporate world to do this full time.

It is increasingly important to be knowledgeable about the trends and data in the local housing market. I am committed to the highest level of personal service and to meeting your needs.

…

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Mortgage rates are edging noticeably higher this week, and would-be home buyers and refinancing homeowners may have missed out on a chance to lock in a lower rate. 

  • The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower.
  • Tuesday's move follows positive economic data in retail sales, suggesting that newly imposed tariffs would not hit sales as hard as expected.
  • With supply and demand so far out of whack, Mortgage Rates are unlikely to affect home prices in the near term.

Mortgage application volume for refinancing and home purchases dropped 2.7 percent last week on a seasonally adjusted week-to-week…

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