Bellingham Homes & Real Estate

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. Even 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 ...

1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports 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 Increase Freddie Mac’s Primary Mortgage Market Survey shows 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 ...

The housing market is seeing a shortage of homes that hasn't been this bad in recent memory. Even heading into the holiday season, homes are selling in less than a week. We are seeing multiple offers and full price offers even into November. Check out my latest blog about the lack of inventory here: "A Lack of Listings Remains 'Huge' Challenge in the Market"   If you have been thinking of selling your home, give me a call! I offer FREE selling guides, staging checklists and price analysis. Jack.otto@exprealty.com 206-388-6102

If you are thinking about selling your home this fall you probably have a few questions. Get started with my FREE guide and call me for your home selling evaluation. I want to make the process as easy and seamless as possible for you! https://issuu.com/jackottorealtor/docs/sellingyourhousefall2016