Category: Buying

For the last several years we have experienced the craziness of the hottest housing market in generations across the nation and especially here in the Puget Sound. Certainly, this has been the hottest sellers market that I have ever experienced. We have all sensed that market has shifted in the buyers favor in the last…
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According to CNBC, mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000. Buyers have been contending with high prices all year, but with rates almost double what they were in January, they’ve lost considerable purchasing power. Check out today’s mortgage rates here.

Good article from Seattle Agent Magazine July 8. The seller’s boom is over. Sellers are reducing prices, inventory is increasing, competition is declining and mortgage rates are moderating (for now). Nationally, home are remaining on the market 18 days – flat from 2021 and 52% are selling above list price, down a point from 2021.

Real estate agents, housing economy experts, and consumers are still facing higher-than-normal demand, but there are indications that the housing market – red-hot since 2020 – may finally be tapering. What does a cooling housing market feel like? What should you and your clients be on the lookout for when judging whether the price and demand of…
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At the end of May there were 8,798 active listings on the NWMLS, up a whopping 59% from a year ago. The significant increase in the number of homes for sale has some speculating that the market is about to implode, but that is very unlikely,” stated Matthew Gardner, chief economist at Windermere Real Estate.…
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If you are a Woodinville homeowner looking to sell, it’s time to celebrate! If you are looking for a home to buy in Woodinville, not so much. Woodinville, Washington is the most popular market on all of Zillow so far this year. Edmonds also had a reasonable showing, coming in at #5 on the list.…
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We are at the front end of a market and transition in the Puget Sound region. Homes remain at record high prices with the Seattle Times reporting that the median price in King County is nearly $1,000,000. For the past many months inventory has been virtually nonexistent and the norm has been multiple offers for…
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The Federal Reserve board is meeting is coming up May 3-4 and again June 14-15 this year. According to traders, there is a 73% chance that the May meeting will result in ½ percent increase and a 63% chance the June meeting will result in ½ percent increase in the Fed long term interest rate.…
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Interest rates are rising. Most experts believe, and I agree, that higher interest rates will cool today’s torrid housing market. Buyers will have less purchasing power thereby reducing demand. This is balanced against more than a decade of building fewer homes than was required to meet demand, so inventory remains tight. A new report out…
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Congratulations! Your offer on the home of your dreams has been accepted! Let’s explore what happens next. As the buyer, once you have reached agreement on the purchase of a new home you and your team will be responsible for much of the activity. Either the listing agent or your agent will open an escrow…
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