A slower fall season in home buying may help more lingering home buyers to jump in. Credit the flurry of back-to-school activities and end-of summer vacations for sidetracking some sellers and buyers. Typically, the last two weeks or so of August cool a bit and the market picks up again full steam once school resumes for one last big push up until the Holiday season.
Home buyers may find attractive mortgage rates this fall. Mortgage rates are still under the 4 percent psychological threshold, which can be a luring incentive for borrowers. Freddie Mac reported last week that the 30-year fixed rate averaged 3.78 percent, holding steady at a 2017 low.
Studies have shown that fall can be the best time to buy. A study conducted by RealtyTrac in 2015
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5 Real Estate Stats Homeowners Should Know:
As homeowners, it's good to know a little bit about the market our home is located in. There are a couple of real estate stats that are good to know as they can give us a feel for the temperature of the market.
1) Medium Price - Both average sales price and median sales price can provide an indication of pricing trends. Median sales price provides a more reliable number because it is not influenced by outlier sales that can sell for unusually high or low prices. However, as with any other stat it's not good to look at only one metric.
Bookshelves and cabinetry incorporated within a home’s architecture once was equated with grandeur, offering homeowners the opportunity to showcase personal treasures and knickknacks. But over time, the pieces may look dated. Here are updating ideas with pizzazz that buyers may love.
September 2017 | By Barbara Ballinger
Built-in cabinetry, whether part of a home’s initial design or added to organize and display books, artwork, or knickknacks, has long offered a way for homeowners to introduce a distinctive look to their interior. But with the rise of digital media and minimalist decor, buyers these days may have less of a need for this once widely coveted storage feature.
The true cost of buying a home can be a lot more than the agreed-upon sale price. Along with your monthly mortgage payment, you will likely find yourself shelling out for other upfront and ongoing expenses. Closing costs, homeowners association fees, property taxes, utility bills and imminent home repairs can add hundreds — if not thousands — to your expenditures.
Avoid unpleasant financial surprises by familiarizing yourself with some of the more common expenses associated with buying or building a new home. Budgeting for added monthly expenses — and setting some aside for emergencies — will help ensure your new dream home is also an affordable one.
Closing costs: Add in an estimated 2% to 5% of home price.
Pricing your own home is hard, what with all the history and hopes this magic number entails. Of course, you want to make a profit. Of course, all that money you spent installing a swimming pool or a half-bath will be recouped, because you're leaving your digs in better shape than when you bought it, right? Right?
Well, not necessarily. Too many home sellers fall prey to myths about home pricing that seem to make sense at first, but don't jibe with the reality of real estate markets today. To make sure you haven't bought into any of this malarkey—since the buyers you're trying to woo sure haven't—here are some common pricing myths you'll want to rinse from your brain so you kick off your home-selling venture with realistic expectations. It's time
KIRKLAND, Washington (Sept. 6, 2017) – As smoke and ash blanketed parts of Washington state, one real estate broker noted, “Even in a fire there are some cooler spots, and seasonally, the housing market is in a cooler spot.”
Pending Sales Exceed New Listings Again For August
Active Listings Down 12.8% Compared to Last Year
$1,000,000+ Homes Sales UP 52% Over Last Year
The latest numbers from Northwest Multiple Listing Service show there are both cooler spots and hot spots, with the demand for housing and prices showing few signs of being extinguished.
“For August, we experienced a more robust market than anticipated,” remarked Diedre Hanes, principal managing broker-South Snohomish County at Coldwell Banker Bain in Lynnwood.
The Seattle region is experiencing quite a unique set of circumstances — old and new — that are creating unattainable prices for many.
Topographical: There’s not much land to go around with lakes and Puget Sound in the way. There are also growth management boundaries. This makes what land is available for housing more expensive.
Development: Builders aren’t building enough to meet the housing demand because land is expensive. Labor costs are also up and that adds to the price.
Mass transit: Infrastructure, or lack thereof, makes it difficult to get around. So living in a convenient location is more expensive. Time is valuable, and commutes are growing. Buyers are moving farther out from Seattle along the freeways to find housing they can
Thinking about selling your home? It's important to know how much your property is worth on today's market to choose an appropriate selling price.
The Cascade Team is happy to provide you with everything you want to know about the market in your neighborhood!
Recent Sales Trends Property Info & Photos School Information Nearby Businesses Walk Score And More! View A Sample Report Here
A Great Way To Stay Up To Date
The Cascade Team Market Report is a great way for buyers and sellers to get informed and stay informed about the real estate market. Buyers can keep an eye on the areas they want to move to. Sellers can see every comparable sale in their neighborhood as they prepare to sell their home. Market Snapshot will come directly to your