Weak Home Sales into 2025...Your thoughts?

Total home sales are expected to come in lower than previously expected and will not pick up meaningful into mid 2025. This is according to a new forecast from the Fannie Mae Economic and Strategic Research Group. This new forecast downgrades total home sales to 4.78 million in 2024 and 5.19 million in 2025, with no expected upswing until income growth starts to outpace home price growth and mortgage rates sink closer to the 6% level. The forecast doesn't expect the rates to go below 6% until the end of 2025.

Furthermore, the new forecast warned that near-term slowdown in housing starts is coming because the number of new homes for sale that are already under construction is up, which is likely to delay new projects until the current inventory can be…

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Right Time to buy?

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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Now is the Time to Buy

Over the past few year’s buyers within the Washington housing market have been taking hit after hit. Back in 2020 through 2021 buyers were faced with the lowest inventory of homes Washington has ever seen. This was then coupled with an excess of other buyers all trying to lock in a sub 3% rate. These factors led to bidding wars of hundreds of thousands over asking price and buyers having to submit offers on close to ten homes before acceptance.

Then another punch in the nose befell home buyers. Just as inventory began creeping up so did interest rates. “Experts are forecasting that the 30-year, fixed-mortgage rate will vary from 5% to 7% by the end of 2022. Here are their more detailed predictions, as of late May 2022:” (Forbes). Some say…

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Now Hiring: Transaction Coordinator with The Cascade Team

Here is your chance to be part of an innovative Real Estate Brokerage that's changing how things are done!

• Issaquah, WA
• Full-time
• Salary: $18.00 to $20.00 /hour

Transaction Duties:

Create Files for New Transactions: Read through contracts and file; ensuring we have mutually signed contracts, and all forms relating to the transaction. Creates commission disbursement forms.

Escrow Duties: Open escrow and assists with communication between agents, escrow, and The Cascade Team; ensuring Escrow receives all pertinent forms for each transaction.

Time Frames and Deadlines: A real estate Transaction Coordinator's job includes paying attention to deadlines for items such as earnest money, inspections, and other related deadlines.

…

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Frenzied Fall Housing Market Ahead

•          Northwest MLS brokers report gains in new listings, closed sales, prices versus year ago.
•          A new report from Northwest MLS shows brokers added slightly more new listings last month (11,373) than a year ago (11,210).
•          Historically low interest rates and inventory shortages as factors contributing to a “very active market.”
•          The housing market intensity for each new listing will continue its upward trajectory as the first of the year approaches.
•          Shortage of supply still remains a significant issue.

KIRKLAND, Washington (October 6, 2021) – September’s housing market remained “very active” to “frenzied” around Washington state with brokers reporting year-over-year (YOY) gains in new listings,…

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August Housing Activity Slight Dip Follows Patterns of Seasonal Slowing

• August show month-to-month drops in new listings, total inventory, pending sales, close sales, and median prices
• NWMLS statistics show the volume of new listings added during August declined from July (down 11.5%)
• “We are seeing homes stay on the market slightly longer and more instances of sellers overpricing their properties."
• Prices showed signs of moderating during August. The average price was down $10,000 from July.

Northwest MLS brokers say August housing activity follows patterns of seasonal slowing KIRKLAND, Washington (September 7, 2021) – August typically brings a dip in housing activity and this year was no different, according to representatives from Northwest Multiple Listing Service when commenting on newly-released…

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Far From a Housing Market Crash, Home Prices in Seattle are Expected to Rise 18% Over The Next Year.

The flaming-hot housing market has seen median home prices soar an unprecedented 24% since the outbreak of the Coronavirus last year. But in recent weeks, that fire has lost some of its heat as buyers finally start to push back at sky-high prices. Simply put: The housing market is slowing a bit.

Already, a growing list of doomsayers point to the shifting market as taking us one step closer to a bursting housing bubble. In their minds, housing went up too fast and now must come back down.

But what does the data say? When you look under the hood, the run-up to 2008 housing bubble and the hot 2021 housing market are very different bull markets. While there are several reasons why our latest frenzy won’t result in a bust, there’s one reason…

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On the Fence About Buying or Selling a Home? The Time is NOW for Both!

Home buyers are finding some relief, but Northwest MLS brokers say it is temporary.

•          New listings slightly outgain homes going under contract.
•          Highest level of Inventory since October of 2020
•          There is some ‘normalization’ in our market as it relates to the historical summer slowdown.”
•          This is due to a typical mid-summer season market combined with some buyer fatigue
•          14 of the 26 counties in the Northwest MLS report showed year-over-year (YOY) gains in new listings
•          Buyers act NOW. Sellers don’t panic.
•          With a lack of new construction coming on the market in suburban areas after years of under building, increasing demand still has few places to go.
•          Interest…

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Welcome back to The Cascade Team Real Estate Becky Lower!

Check out Becky's Cascade Team Profile!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their clients. This helps you better understand the competitive environment, pricing strategies and provides an edge in the negotiation process.  Our goal is to always meet and exceed your expectations.  We look forward to the opportunity of working with you on your next real estate transaction.

Download The Cascade Team Mobile App for Free!

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Welcome to The Cascade Team Liza Alley!

Check out Liza's Cascade Team Profile!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their clients. This helps you better understand the competitive environment, pricing strategies and provides an edge in the negotiation process.  Our goal is to always meet and exceed your expectations.  We look forward to the opportunity of working with you on your next real estate transaction.

Download The Cascade Team Mobile App for Free!

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