The Cascade Team Blog - Keenan Porter

It's Scary - Valuations on Zillow, Redfin, Chase varying 20% or more

Valuations on Zillow, Redfin, Chase are all over the map, sometimes varying 20% or more — how these tools both help and hinder buyers in an unpredictable housing market

Despite all the data points crunched and algorithms used, the three biggies in the world of home valuation — Zillow, Redfin, and mortgage giant Chase — demonstrate so much disparity that you might think you were comparing a suburban McMansion to its humble tool shed out back.

Why are CMAs better than online estimators?

CMAs are in-person assessments performed by a local real estate agent, while online estimators rely on an algorithm.

Both CMAs and online estimators use recent comparable sales (“comps”) to determine your home’s value. But a realtor can handpick comps that…

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Zombie mortgages come back from the dead haunting homeowners

What is a zombie mortgage?

“Zombie” mortgages are mortgage debts that you might have thought were forgiven or satisfied long ago but that still exist.

Old debts can be written off by the lender and sold for pennies on the dollar to debt collectors. Sometimes the mortgage company goes silent and stops sending statements or communicating with you altogether. Years later, a debt collector reaches out to collect on the debt. Because these mortgages seem to reappear after being considered “dead” or gone for so long, they’re sometimes called “zombie” second mortgages.

Jose Arzate once dreamed of a peaceful retirement in a quiet neighborhood in his hometown. A 24-year veteran of the county probation office, Arzate thought he had achieved the…

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Don't Be Afraid To Sell Your House

The New Commission Rules:

You don’t need to be scared when buying or selling a home. Even though there are fears that can make things seem a little “Scary”, The Cascade Team is here to help clear away the cobwebs!

The truth is the only thing scarier than paying too high of a commission to sell your home… Is realizing that you don’t have too while getting even MORE service and support than most brokerages offer at a higher fee!

The Cascade Team Agents are Full Service. We are a real estate company like no other, because of the tools, service, and savings we provide our clients with. We understand that in today’s fast paced environment, we need to provide a high level of service, utilize technology to keep our clients up to date at all times…

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The best week of the year to buy a home in 2024 is coming up

• The week of September 29 through October 5 is the best time to buy a home, Realtor.com said.
• Homebuyers can save $14,000 compared to the summer median home price.
• Realtor.com cited lower competition and higher inventory in the post-summer period.

Temperatures are cooling, but the year's hottest housing deals are still ahead. According to a new report from Realtor.com, the best week of the year to buy a home is just around the corner.

A long-awaited reawakening for the US housing market may be right around the corner.

An interest-rate cut by the Federal Reserve could result in more homes being listed on the market, as more homeowners may feel compelled to sell their property, real-estate experts say.

Recent economic data showing…

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Lower Mortgage Rates and Increases in Inventory May Ease Affordability in Western Washington

Market Recap

Mortgage rates are at their lowest level since March 2023 (6.35% for a 30-year fixed rate mortgage as of August 29th), and August 2024 reflected year-over-year increases in the number of active listings, new listings and pending sales. At the same time, the number of closed sales year-over-year was virtually unchanged, and median home prices rose in 20 of the 26 counties covered by NWMLS. The Federal Reserve is expected to further reduce interest rates in September, sending encouraging signals to potential buyers.

This week, mortgage rates continue to trend downward, with key economic news ahead that could influence the market further. The upcoming CPI inflation report and Treasury auctions will be closely watched this week, with…

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Housings Nightmare Scenario

Real estate transactions are getting canceled at the last minute — for the most insignificant reasons.

The question is why?

Buyers are backing out of home purchase deals at a record rate — but real estate agents say deals are falling through on flimsy grounds.

We’re seeing nightmare scenarios where real estate sales are getting canceled at the last minute for the most minute reasons.

So, what’s the problem that’s giving buyers cold feet?

Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. High mortgage interest rates continue to be a drag on home sales, discouraging both potential buyers facing high-rate mortgages and would-be sellers wanting…

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2024 Housing Market Predictions Update

Home price predictions for the remainer of 2024

Experts generally expect home prices to increase throughout the remaining months of 2024.

• Fannie Mae currently sees home prices rising 4.8% year over year by the end of 2024
• The Mortgage Bankers Association believes prices could rise as much as 4.3% this year
• The National Association of Realtors has more conservative expectations and thinks existing-home prices will inch up just under 2% overall by the end of 2024.

Low home inventory is a chronic problem in the US. This has generally kept home prices up, even as mortgage rates peaked near 7.25% and homebuying demand plummeted last year. Demand may increase if rates go down in the final few months of 2024, so even if home prices were…

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The housing slump deepened this spring. What’s ahead in the second half of 2024?

Where does that leave home buyers and sellers looking at the second half of 2024?

The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall.

Home shoppers came into 2024 with optimism that mortgage rates would ease further after a decline late last year. But those hopes faded as stronger-than-expected data on inflation and the economy clouded the timing of a possible rate cut by the Federal Reserve.

By April, the average rate on a 30-year home loan moved above 7% for the first time since November. That, plus record-high home prices, forced many would-be homebuyers to put their house hunt on hold -- some indefinitely.

Economists are…

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Sammamish Market Update: June 2024

The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.

Sammamish ranks as one of the cities with the fastest-growing home prices in Washington even outperforming Mercer Island and Bellevue. Only Medina and Woodway ranked higher in Washington for price growth. Cities are ranked by the dollar change in the Home Values Index for all homes from the 12 months ending April 2024. The charts in this story were created using data available for the top 50 cities and towns in Washington.

The Sammamish housing market is most competitive. Homes in Sammamish…

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Do you know the REAL value of your home?

After completing hundreds of home value analysis in the greater Eastside, (Sammamish, Issaquah, Redmond, Snoqualmie, Woodinville and Bothell) I've found that Zillow's Zestimates are off with 93% of the properties in our area.

Of course, no savvy homeowner would trust their home value to a computer-generated algorithm that whips up a number within 1 second of you hitting the button.

That's why I created our Free Home Value Analysis where you can have a state licensed real estate professional give you a comprehensive value including any and all updates or improvements you've made to the home.

We've agreed to offer the value analysis totally free, with no obligation for the next 30 days to local homeowners interested in the REAL value of their…

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