Found 41 blog entries tagged as buyers.

This Real Estate Market Is the Strongest of Our Lifetime




When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 

1. The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4% (see graph below):

Now,…

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Ever wonder when the right time to buy home is: The answer is almost certainly - right now! Of course, you have to make sure you can afford it and can qualify. But I have mortgage lenders to help with that process. But before you do that, don't take my word for it. Here is some pass statistics to help you understand where we are and why now is a great time to buy.

-The last decline in homes or the bottom of the market, was March, 2012. At the time, there were 2.4MM home Nationwide in for sale.
-After the bottom, there was 8% appreciation in the value of the homes.

Current Situation:

-You want to buy right before the bottom - because timing of the bottom is near impossible. And if you buy on the way up, you have lost some gains.
-There are on 980K…

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What does selling your home have in common with online dating? Probably a whole lot more than you think.

Two-thirds of home buyers said they searched for more than three months before going under contract on a home, according to a new survey by the National Association of Home Builders. Buyers also complain that homes are getting too pricey. Forty-two percent of respondents said that the homes they wanted were too expensive for their budgets, which further delayed their search. Twenty-seven percent said that the increase in interest rates over the past 12 months had severely affected their home search parameters.

For Valentines: How Home Shopping Can Feel Like Dating

Are your home shoppers desperately trying to find “the one?” Finding the perfect…

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A strange topic for a blog post I know, but for the past month I have felt like I have been living in the Twilight Zone dealing with ever increasingly aggressive rabbits….

Blame the unusual weather patterns, pesticides, or sheer malicious intent; any and all reasons end with one undeniable fact: The rabbits  are out of control and they are Hell-bent on taking one of us with them when they go…

On any given morning, just as the night gives way to the light of day you can see them waiting in the bushes just off the side of local neighborhood roads. Carefully you head down the street, eyes peeled, the radio playing lightly in the background….. And “BOOM!”

Another rabbit shoots out into the road, darting directly under your tires trying to end its…

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A new survey finds Americans are woefully misinformed about the nation’s mercurial housing market, even as millions of them prepare to buy homes.  

Twenty-eight million Americans plan to purchase a home in 2023, according to a survey released Tuesday by NerdWallet, the personal finance company. On average, they hope to spend $269,200. 

But that figure falls more than $100,000 short of the median home price, which was $388,100 in December, according to the real estate brokerage Redfin. Home prices crossed the $269,000 threshold sometime in 2013, Federal Reserve statistics show. 

If prospective homebuyers sound oddly optimistic about prices, that may be because they are pessimistic about the state of the housing market. Two-thirds of Americans…

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KIRKLAND, Washington (January 6, 2023) – Last year was a tale of two housing markets, suggested broker Dean Rebhuhn in commenting on the latest statistics from Northwest Multiple Listing Service.

  •          In the first half of the year, we had low interest rates, rising prices, and little inventory
  •          The second half of the year brought increasing interest rates, some lowering of prices, and increasing inventory
  •          The local housing market in 2022 ended with a whimper rather than a bang
  •          Overall, the housing market is going to continue falling off the artificial ‘sugar high’ that was a function of the artificially low mortgage rates during the pandemic
  •          Gardner, the Windermere economist, expects prices will…

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation…

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What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates.

  •          “Seattle, Phoenix, San Francisco could all see 20% price drops.”
  •          Wolf, of Zonda, expects prices could fall by 15% nationally over the next year
  •          “A really important thing to remember is housing is cyclical,” says Wolf. “We came from a massive run-up in prices, sales, demand in the housing market, and now it’s contracting. This is not new.”
  •          Nationally, home list prices rose 40.6% in just over two years’ time
  •          So, a 10%, 15%, or even 20% drop over a two-year span isn’t as significant as it might seem at first.

It now…

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“As for the interest rate ‘elephant in the room,’ the time has come for buyers and sellers to revisit financing methods from previous markets,”

  •          “Mortgage programs are offering below-market rates with various buydown options – something we have not seen for years!”
  •          Buydowns, adjustable-rate loans, carrying back second deeds of trust, and closing cost allowances as possible options.
  •          Sellers need to be “laser focused on price and condition
  •          “What your neighbor’s house sold for six months ago has very little bearing on your home’s value today.”
  •          This is the new normal until interest rates go down.”

KIRKLAND, Washington (November 7, 2022) – Brokers with Northwest Multiple Listing Service…

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KIRKLAND, Washington (October 6, 2022) – “The shift in the market isn’t a surprise,” said broker Mike Larson when commenting on the latest statistics from Northwest Multiple Listing Service. The report on September activity shows active listings are nearly doubled from a year ago, pending sales declined more than 31%, but prices in most counties are still rising.

“Buyers are finally getting some relief,” said Larson, a member of the Northwest MLS board of directors and the managing broker at Compass in Tacoma. “Getting back to a balanced, more normal market is almost a welcome change,” he added, but noted “inflation and rising rates aren’t helping.”

“Though technically still a seller’s market, it is more favorable to buyers than it has been in a…

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