Berkshire Hathaway HomeServices Northwest Real Estate Federal Way & Puyallup

September is just around the corner. Check out all of the exciting events & training we have to offer! Below are some of the registration links, for others please RSVP via email to Bethanyfrench@bhhsnwre.com Career Night: https://bhhsfwcareer.eventbrite.com Instructor Development Workshop (2 Days): https://bhhsidw.eventbrite.com RE Test Prep: https://bhhstestprep.eventbrite.com Jump Start @ W Seattle: https://jumpstartbhhs.eventbrite.com Lastly, if you do not get a chance to register or RSVP, you are still welcome to come to class ☺ We just like a rough estimate to be prepared for all attendees!

The Mortgage Bankers Association issued a new forecast  This Week in Real Estate  that predicts the rate for a 30-year fixed mortgage will average 3.7% in the third and fourth quarters of 2019.  Below  are a few highlights from the  third week  of  August  that influence our business : *  Existing-Home Sales Climb 2.5% in July.  Existing-home sales strengthened in July, a positive reversal after total sales were down slightly in the previous month, according to the National Association of Realtors. Although Northeast transactions declined, the other three major U.S. regions recorded sales increases, including vast growth in the West last month. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.5% from June to a seasonally adjusted annual rate of 5.42 million in July. Single-family home sales sat at a seasonally adjusted annual rate of 4.84...

Did you know August 21 st is National Senior Citizens Day ? According to the United States Census, we honor senior citizens today because,  “ Throughout our history, older people have achieved much for our families, our communities, and our country. That remains true today and gives us ample reason…to reserve a special day in honor of the senior citizens who mean so much to our land. ” To give proper recognition, we’re going to look at some senior-related data in the housing industry. According to the Population Reference Bureau , “ The number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent .” Seniors Believe in Homeownership In a recent report , Freddie Mac compared the homeownership rates of two groups of seniors: the Good Times Cohor t (born from 1931-1941) and the Previous Generations (born in the...

The Federal Reserve Bank of New York reported  This Week in Real Estate  that mortgage debt reached a record high in the second quarter. Despite the higher debt loads the report found the percentage of mortgage balances that are current is at its highest level of the current expansion, fueled by tighter lending standards and more prudent consumer behavior.  Below  are a few highlights from the  second week  of  August  that influence our business : *  Single-Family Starts Continue Improvement in July.  A ccording to estimates from the U.S. Housing and Urban Development and Commerce Department, the pace of single-family construction continued to improve in July. After reaching a post-winter low annualized rate of 814,000 in April, single-family starts expanded to an 876,000 pace in July, a 1.3% gain over the revised June estimate. However, single-family starts remain 3.3% lower on a year-to-date basis due to slower ...

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up. The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to  Apartment List , “ From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent. ” When the housing market crashed, the number of new homes permitted decreased to its lowest level in 2009 (see below): Since then, supply and demand have been out of balance when it comes to new construction. According to the same report, “ Construction of single-family homes has recovered much more slowly — the number of single-family housing units permitted in 2018 was barely half the number permitted in 2005 .” Why is new const...