#1 Agent in Social Media in Washington. REALTOR® with EXP Realty in Bellingham, WA., Seaplane pilot, family man. My goal is simple, to provide clients with world class trust and service. Your goals are my goals, and I want you as a client for life! Stop being treated like a "sale". I strive to build my Real Estate family and hope you come back to me later when you need to buy or sell your next home.
Fawn Island in beautiful Deer Harbor, Washington, is one of the most exclusive properties on the market. For a complete list of features and amenities please visit Fawnisland.net.
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75% of Homeowners Think Now is a Good Time to Sell!
The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if
now is a good time to buy or sell a home, the perception of home price
changes, perceived ability to qualify for a mortgage, and [an] outlook
on the U.S. economy.”
The survey revealed that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed.
though homeowners believe that now is a good time to sell, many have
not taken the step to list their homes, as inventory shortages still
exist across the country. Lawrence Yun, NAR’s Chief Economist, had this to say: "There
are just not enough homeowners deciding to sell because they’re either
content where they are, holding off until they build more equity, or
hesitant seeing as it …
1. Prices Will Continue to RiseCoreLogic’s latest Home Price Indexreports
that home prices have appreciated by 7.1% over the last 12 months. The
same report predicts that prices will continue to increase at a rate of
4.9% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to IncreaseFreddie Mac’s Primary Mortgage Market Surveyshows
that interest rates for a 30-year mortgage have remained around 4%.
Most experts predict that they will begin to rise over the next 12
months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
An increase in rates
will impact YOUR monthly mortgage payment. A year from now, your
housing expense will increase if a mortgage is necessary to buy your
next home. 3. Either Way, You are Paying a Mort…
If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes for Sale
The National Association of REALTORS’ (NAR)Chief Economist Lawrence Yun recently commented on the inventory:
month’s dip in closings was somewhat expected given that there was such
a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market. Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.
The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
Anything less than a six-month supply is considered a “…
So, you’ve been searching for that perfect house to call a ‘home,’
and you finally found one! The price is right, and in such a competitive
market, you want to make sure that you make a good offer so that you
can guarantee that your dream of making this house yours comes true! Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 tips they covered along with some additional information for your consideration: 1. Understand How Much You Can Afford“While it's not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”
This ‘tip’ or ‘step’ should really take place before you start your home search process.
As we’ve mentioned before,
getting pre-approved is one of many steps that will show home sellers
that you are serious about buying, and will allow you to make your offer
with the confidence of knowing that you have already been approved for a
mortgage for that amou…
Buying a Home? Do You Know the Lingo?
Buying a home can be intimidating if you are not familiar with the
terms used during the process. To start you on your path with
confidence, we have compiled a list of some of the most common terms
used when buying a home. Freddie Mac has compiled a more exhaustive glossary of terms in their “My Home” section of their website. Annual Percentage Rate (APR)
– This is a broader measure of your cost for borrowing money. The APR
includes the interest rate, points, broker fees and certain other credit
charges a borrower is required to pay. Because these costs are rolled
in, the APR is usually higher than your interest rate. Appraisal – A professional analysis used to estimate the value of the property.
This includes examples of sales of similar properties. This is a
necessary step in getting your financing secured as it validates the
home’s worth to you and your lender. Closing Costs – The costs to complete the real estate transaction. These …