Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

In today’s market, as home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a  For Sale by Owner  (FSBO). There are several reasons why this might not be a good idea for most sellers. Here are the top five reasons: 1. Exposure to Prospective Buyers According to NAR’s  2018 Profile of Home Buyers and Sellers , 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you? 2. Results Come from the Internet Where did buyers find the homes they actually purchased? 50% on the Internet 28% from a real estate agent 7% from a yard sign 1% from newspapers The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Having a strong Internet strategy is crucial. 3. There Are Too Many Peop

While home prices continue to appreciate, albeit at a slower pace, according to a report released by HotPads  This Week in Real Estate  U.S. renters paid a record $504.4 billion in rent in 2018. Below are a few highlights from the last week of the year that influence our business : * Pending Home Sales See 0.7% Drop in November.   Pending home sales overall slipped in November, but saw minor increases in the Northeast and the West, according to the National Association of Realtors. The Pending Home Sales Index,  a forward-looking indicator based on contract signings, decreased 0.7 percent to 101.4 in November, down from 102.1 in October. However, year-over-year contract signings dropped 7.7 percent, making this the eleventh straight month of annual decreases.  The Pending Home Sales Index in the West increased 2.8 percent in November to 87.2 and fell 12.2 percent below a year ago.  Full Story...  https://www.nar.realtor/newsroom/pending-home-sales-see-07-percent-drop-in-no

Some Highlights: ­Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes! Home prices will rise at a rate of 4.8% over the course of 2019 according to  CoreLogic . All four major reporting agencies believe that home sales will outpace 2018! DECEMBER 28, 2018 / BY  THE KCM CREW

This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row. To many, the outlook heading into 2019 appeared dim… at best. Then, in a 24-hour window last week, things seemed to change. On Wednesday, the  National Association of Realtors’  (NAR) revealed in their   Existing Homes Sales Report  that home sales had  INCREASED  for the second consecutive month. The next day, NAR’s economic research team  announced  that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago. What happened to turn around the downward momentum in the market?  You only needed to wait a few hours to find out. On the heels of NAR’s revelations,  Zillow  released their  November Real Estate Market Report  that explained: “After nearly four years of annu

The first two months of the fourth quarter has seen consecutive months of increased existing home sales as reported by the National Association of Realtors  This Week in Real Estate  and rising inventory beginning to tame home price appreciation. Below are a few highlights from the third week of December that influence our business : * Existing Home Sales Increase for Second Consecutive Month.   Existing-home sales increased in November, according to the National Association of Realtors, marking two consecutive months of increases.   Total existing-home sales ,  completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.9 percent from October to a seasonally adjusted rate of 5.32 million in November. Sales are now down 7.0 percent from a year ago (5.72 million in November 2017).  Single-family home sales sit at a seasonally adjusted annual rate of 4.71 million in November. That is up from 4.62 million in October, but 6.7 percent be

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan. Any  additional payments  to the  principal  amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well. When you make ‘extra’ payments toward your loan, the key is to let your lender/bank know that you want the extra funds to go toward your principal balance as they will not automatically do this for you. You don’t have to double your mortgage payment to make a big difference either! If you have a 30-year mortgage on a median-priced home ($250,000) with a 5% interest rate, you’ll be responsible for a $1,342.05 monthly principal and interest payment. Over th

We frequently talk about why it makes sense to buy a home  financially , but more often than not the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of a home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones. 1. Owning your home offers stability to start and raise a family From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for  choosing  the location of the home that they purchase. 2. There’s no place like home Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day! 3. You have more space for you and your family Whether your famil

Some Highlights: Existing home sales are currently at an annual pace of 5.32 million and have increased on a monthly basis for the last two months. The inventory of existing homes for sale remains below the 6-months needed for a normal market and is now at a 3.9-month supply. Inventory remains low due to high demand from buyers who are still looking for houses to buy! DECEMBER 21, 2018 / BY  THE KCM CREW